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        20040518   

When is News not news anymore?
Michael considered fate at 17:58   |   Permalink   |   Post a Comment
Nothing worse than LIES

This is just one article from one newspaper that is spewing semi-truths for shock value:

...Gas prices hit an all-time high driven by record-high crude oil prices and concern that gasoline demand will continue to outstrip capacity. The average cost of a gallon of regular was $2.02 yesterday in the Mid-Atlantic region, which includes Maryland, the U.S. Energy Department reported.

Check out Google News: "all time high gas prices" for more.

Unfortunately they did not deem a little thing called INFLATION important enough to be invited to the discussion. As I just wrote to my pals in an email:

"Gasoline prices aren't even at an all time high. If you take inflation into account then the highest prices we've ever paid for gas was in 1982 when it topped out at (inflation adjust) $2.94!"

$2.94 People!! That's a far cry from $2.02..

This despite the fact that federal manufacturers' excise tax on gasoline per gallon in 1982 was 4 cents and today it is 18.4 cents (far more than inflation allows for).

This despite the fact that state taxes (in Maine) are 23.5 cents per gallon - topping total taxes out to a whopping 41.9 cents per gallon, which doesn't even approach the record high of Nevada at 51.7 cents a gallon!

I should point out that in 1982 - when gas topped out at $2.94 a gallon - the national average for total gasoline taxation was only about (adjusted for inflation) 30 cents. Almost HALF of what we pay now.

I'm not trying to be a sensationalist here. Just pointing out the facts.

You don't see people alarmed at the cost of a $3 loaf of bread but I'm willing to bet that if you asked your mother it would be an all-time high for her.

That's all I'm saying.

Just the facts.


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