It cost me nearly $50 to fill my tank this week – $50! And I drive a pretty fuel efficient car. Gas in my home town has hit $4.25/gallon for plain old standard gas. Yuck. Gas prices are just climbing and climbing.
At least there’s a small break: the mileage rate for business miles has finally been upped for tax purposes. The mileage rate will increase by eight cents to 58.5 cents a mile for all business miles driven as of July 1, 2008.
The mileage rate for deductible medical or moving expenses will increase by eight cents to 27 cents a mile.
Sadly, the rate for volunteering at charitable organizations is set by statute and remains at a pathetic 14 cents a mile. Congress, are you reading?
(Image: Newscom)
Have you ever heard of the “gas face”? Tisa, over at Talk Stock Trading, refers to a gas face as “a somewhat stressed look of displeasure induced by the pumping of expensive gas.”
Yeah, we’ve all seen it.
Since there’s been some interesting discussion on taxgirl.com about the gas tax (or gas tax holiday), I was particularly struck by Tisa’s question about who is to blame for the “gas face.”
What do you think? Who is most responsible? The Bush administration? Big Oil? Congress? Car manufacturers?
Pop over and let Tisa know: who gets the “gas face”?
(Image source: Newscom)
Interesting commentary on CNN about why the gas tax doesn’t make sense and why it won’t pass.
Pay particular attention to the projected savings to taxpayers. I had not previously heard the totals (other than from Obama) and it really is nearly inconsequential. The savings for the entire summer per family is estimated to be between $28 and $70.
[youtube=http://www.youtube.com/watch?v=qNP_eHdNe38&hl=en&rel=0&color1=0x2b405b&color2=0x6b8ab6&border=1]
Are you in support of a gas tax holiday?
