Economic lockdowns from the Coronavirus is having a severe downturn in state’s tax revenue from gasoline and diesel sales. Indiana was no exception, but has somewhat rebounded.Continue reading →
Are you a car lover and noticed exotic cars have Montana license plates? There’s a reason for that and it’s because of taxes. Continue reading →
One reason gasoline prices will go back up in 2016
Good news for the public on durability of a major purchase:
I was running some errands this morning and caught Glenn Beck on the radio. He was discussing some societal trends that related to economics and brought up the fact that 19 year old people are declining in getting their drivers license. Here is what he said:
Nineteen year old people getting driver licenses has declined to 65%. Down from 93% just ten years ago.
This is a big drop so I decided to look up this decline and found the Washington Post wrote about it in 2013. Here’s what they found:
Back in 1983, about 87 percent of 19-year-olds had drivers’ licenses. But in 2010, only 69.5 percent did.
They also cited reasons in a survey of why they didn’t obtain the license and here is the breakdown:
—37 percent said they were either too busy or didn’t have the time to get a license.
—32 percent said that owning and maintaining a vehicle was just too expensive.
—31 percent said they could hitch a ride with someone else if needed.
—22 percent said they’d rather walk or bike.
—17 percent said they’d rather use public transportation.
—9 percent said they were worried about driving’s effects on the environment.
—8 percent said they could work or communicate online.
—7 percent cited disability or medical problems as their main reason.
Consumers of gasoline pay state/federal taxes when they purchase gas. The tax is per gallon. The federal tax on gasoline is 18.4 cents/gallon. State taxes vary greatly. The map below shows both state/federal. Just deduct the federal to see what you pay in each state.
Map courtesy of the American Petroleum Institute. Click here for their interactive map.
As of 2013, an estimated 14% of drivers nationally are uninsured, according to the industry-funded Insurance Research Council