WTI CRUDE

Lionfish said:
I agree, I was referring to personal income taxes. Now, I do wish it were possible to pull out the amount of all the ancillary taxes paid by the top 10% of earners. Do you still think that is an insignificant number?
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It is actually a much smaller percent of earnings than those at the bottom level.
FICA taxes make up the next largest portion of government revenues.

A person earning $50,000 pays 7.65% of their income in FICA taxes, 15.3 if you include the employer match
A person earning $500,000 pays 4.08% of their income in FICA taxes, 7.6% if you include the employer match.
A person earning $5,000,000 pays 2.5% of their income in FICA taxes, 4.18% if you include the employer match.
 
Poor Richard Saunders said:
It is actually a much smaller percent of earnings than those at the bottom level.
FICA taxes make up the next largest portion of government revenues.

A person earning $50,000 pays 7.65% of their income in FICA taxes, 15.3 if you include the employer match
A person earning $500,000 pays 4.08% of their income in FICA taxes, 7.6% if you include the employer match.
A person earning $5,000,000 pays 2.5% of their income in FICA taxes, 4.18% if you include the employer match.
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So you believe that of total taxes collected, Federal, State, city, county, property, sales, vehicle tabs, etc, the largest amount comes from whom?
 
ThatOwlWoman said:
Thanks.

Hey MAGATs, why doesn't this bother you? Why are YOU paying taxes but not these mega-zillionaires?
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Most magats see their mirror image peer, Mike The Pillow Guy' got rich despite being stupid by fleecing other magats and they, think they will be able to do that too and join the Uber rich.

Trump established the bar for this they all hope to follow.
 

2 months later, Trump’s boast about ‘stabilizing’ oil prices looks ridiculous​



The president still hasn’t explained what in the world he was talking about, or why those undefined moves failed so badly.

More than two months ago, Donald Trump hosted a White House event intended to honor a championship soccer team, though the president took some time to comment on an issue on the minds of many.

“Yesterday, my administration announced decisive action to help keep down the oil prices,” the Republican declared. Moments later, he went on to say oil prices “have pretty much stabilized.”

It was never altogether clear what “decisive” actions the president was referring to, but two months later, it’s painfully clear that those mysterious moves failed to “pretty much stabilize” prices.

An analysis published by Bloomberg News described the recent trend as the sharpest spike in pump prices in at least three decades, and while the president has continued to insist that prices will plummet after the war, the fact remains that (a) it’s far from clear when the conflict will be over; and (b) dozens of energy sites throughout the Middle East have been struck as part of the war; wells have to be reopened; and some infrastructure will have to be rebuilt, all of which will take time.

As for the politics, the White House and its allies appear to have no idea what to tell the public about this. House Majority Leader Steve Scalise appeared on CNBC, for example, and tried to argue that gas prices are lower now than they were in 2024.

“People will remember that two years ago, we were paying almost $6 a gallon for gas,” the Louisiana Republican said. “Right now, it’s $3.”

He was spectacularly wrong on both points.

Around the same time, Republican Sen. Tim Scott of South Carolina appeared on Fox Business and told viewers, “Gas prices continue to come down,” even as gas prices continued to go up.

As for Trump, in March, he tried to pitch the public on the idea that higher prices were a good thing — a line that proves so foolish that even he didn’t repeat it — which gave way to the president saying in April that gas prices were “not very high.”

His latest line, offered on Tuesday morning, argued that higher prices at the pump are “a very small price to pay,” which is easy for him to say given he doesn’t have to worry about paying those prices.

As for the “decisive” actions he claims to have taken two months ago, that he said “pretty much stabilized” prices, Trump still hasn’t explained what in the world he was talking about.
 
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gfm7175 said:
WTI Crude is $96 this morning.
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Crepitus

Thread 'A "breakthrough"?'

If you're watching the news this morning you're being told there's a breakthrough in the Iran war, a "ceasefire", a "memorandum of understanding".

But here's what they aren't putting in the press releases: Iran has just laughed the whole thing off. They called it a "ridiculous spectacle"

Why would they do that? Because they can do math. Think about the logistics here. "Project freedom", that is escorting 2 or 3 tankers or cargo ships at a time, sounds heroic until you look at the ledger. We are shooting down $20K drones with $4.3 million missiles that are now in short supply. And no...
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Crepitus said:
Crepitus

Thread 'A "breakthrough"?'

If you're watching the news this morning you're being told there's a breakthrough in the Iran war, a "ceasefire", a "memorandum of understanding".

But here's what they aren't putting in the press releases: Iran has just laughed the whole thing off. They called it a "ridiculous spectacle"

Why would they do that? Because they can do math. Think about the logistics here. "Project freedom", that is escorting 2 or 3 tankers or cargo ships at a time, sounds heroic until you look at the ledger. We are shooting down $20K drones with $4.3 million missiles that are now in short supply. And no...
  • Like
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I just thought you wanted an update, but I see that you always get excited when it goes up and pissy when it goes down.
 
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