Friday, April 28, 2006
GDP GROWS at 4.8%
April 28 (Bloomberg) -- The U.S. economy expanded in the first quarter at an annual pace of 4.8 percent, the fastest in more than two years, led by resurgent consumer spending and the biggest jump in business investment since 2000.
Thursday, April 27, 2006
FED SIGNALS A STOP IN INTEREST RATE INCREASES
April 27 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke gave his strongest signal yet that the central bank may pause in its cycle of interest rate increases.
Oil company profits
Oil company average 9cents per gallon ,yes thats 9cents but TAXES average around 50cents a gallon yes that 50cents a gallon ...hummmm kinda makes you think dont it?
in the News this week
China tightened its monetary-policy screws by raising bank lending rates by 27 basis points, in a move that the central bank said is aimed at ensuring stable economic development (WSJ)
April 27, 2006 -- Sales of new homes soared in March, but the median price of the homes actually declined. The Commerce Department reported that sales of new single-family homes rose 13.8 percent last month to a seasonally adjusted annual rate of 1.213 million units. The median price of homes sold in March dropped to $224,200, down 2.2 percent from what homes were selling for in March 2005. (NY POST)
JERUSALEM (Reuters) - Iran has received a first shipment of missiles from North Korea that are capable of reaching Europe, Israel's military intelligence chief was quoted on Thursday as saying.
Since George Bush and Dick Cheney took over as president and vice president, gas prices have doubled!" charged Sen. Barbara Boxer (D-Calif.), standing at an Exxon station on Capitol Hill where regular unleaded hit $3.10. "They are too cozy with the oil industry. "She then hopped in a waiting Chrysler LHS (18 mpg) -- even though her Senate office was only a block away. (Washington post)
The Dow Jones industrial average ended up 71.24 points, or 0.63 percent, at 11,354.49, its highest close since January 19, 2000. The Standard & Poor's 500 Index closed up 3.67 points, or 0.28 percent, at 1,305.41. The Nasdaq Composite Index finished up 3.33 points, or 0.14 percent, at 2,333.63. (Reuters)
TEHRAN (Reuters) - Iran vowed on Wednesday to strike at U.S. interests worldwide if it is attacked by the United States, which is keeping military options open in case diplomacy fails to curb Tehran's nuclear program.
WASHINGTON -- As record oil prices turn attention to the need for renewable fuels, momentum is building in Congress to buck Senator Edward M. Kennedy's bid to block the proposed Cape Cod wind energy project, potentially reviving efforts to construct the sprawling windmill farm in Nantucket Sound.
Even as long ago as last summer, Iraqi business activity was accelerating. More than four in ten businesses had added employees since the 2003 invasion and 77 percent were anticipating growth in the national economy in 2006 and 2007, according to polling conducted by the Center for International Private Enterprise (CIPE) and Zogby International. Only 3 percent of businesses thought the economy would slow down. (CNS NEWS)
The Dow Jones industrial average Hit New 6 Year High
The Dow Jones industrial average ended up 71.24 points, or 0.63 percent, at 11,354.49, its highest close since January 19, 2000. The Standard & Poor's 500 Index closed up 3.67 points, or 0.28 percent, at 1,305.41. The Nasdaq Composite Index finished up 3.33 points, or 0.14 percent, at 2,333.63.
Wednesday, April 26, 2006
One thing and One thing Only
April 26,2006
Hello,
With the new energy measures the Bush administration seems to be saying to Iran Ok guys you want to run the price of oil up now one of the biggest consumers wants to run the price down, this tug of war has dominated energy prices for the last couple of months. It is a game of chess with each player trying to countering the others move. The market however continues to rally in the face of higher energy and commodity prices so what gives? Well as we saw last week this market is only focused on one thing and one thing only; to raise or not to raise interest rates. That is the question and both the FED and the market seem to be grasping for answers. Again I will repeat if the FED stops the markets will zoom, if not expect more of the same.
Because of this now is a good time for us to re-examine your holdings and make sure they suit your goals and risk tolerance. It is important to make sure you’re still comfortable with your strategy. Make adjustments when your life circumstances or the fundamentals of securities change-not just because the markets may seem uncomfortable today.
Again it remains a stock pickers market but the opportunities seem to be multiplying .The economy continues to defy the dire predictions and yet inflation remains novel. Earning continue to impress and the market seems to be saying that Iran is just jerking us around to get the prices up so if the FED would only get out of our way …….
James
www.jamesfoytlin.com
Hello,
With the new energy measures the Bush administration seems to be saying to Iran Ok guys you want to run the price of oil up now one of the biggest consumers wants to run the price down, this tug of war has dominated energy prices for the last couple of months. It is a game of chess with each player trying to countering the others move. The market however continues to rally in the face of higher energy and commodity prices so what gives? Well as we saw last week this market is only focused on one thing and one thing only; to raise or not to raise interest rates. That is the question and both the FED and the market seem to be grasping for answers. Again I will repeat if the FED stops the markets will zoom, if not expect more of the same.
Because of this now is a good time for us to re-examine your holdings and make sure they suit your goals and risk tolerance. It is important to make sure you’re still comfortable with your strategy. Make adjustments when your life circumstances or the fundamentals of securities change-not just because the markets may seem uncomfortable today.
Again it remains a stock pickers market but the opportunities seem to be multiplying .The economy continues to defy the dire predictions and yet inflation remains novel. Earning continue to impress and the market seems to be saying that Iran is just jerking us around to get the prices up so if the FED would only get out of our way …….
James
www.jamesfoytlin.com
Free Portfolio Review
Now is a good time for us to re-examine your holdings and make sure they suit your goals and risk tolerance. We’ll review your securities to see if you’re still comfortable. We should make adjustments when your life circumstances or the fundamentals of securities change-not just because the markets are uncomfortable today.
call Toll Free 1(888)599-1188
James J Foytlin Jr.
call Toll Free 1(888)599-1188
James J Foytlin Jr.
Tuesday, April 25, 2006
Your Gas Tax The Federal Tax of 18.4 cents per gallon is collected in all states in addition to any state or local taxes on gasoline sales.
State Gas taxes first number is gas secound is diesel
Alabama 18 19 Includes 2-cpg inspection fee. Counties can levy up to 5 cpg with approval of the state legislature. Cities and counties can levy additional tax—rates range from .5 cents per gallon to 4 cents per gallon. An additional 1 cpg UST/AST Trust Fund Environmental Transport Fee is levied at the wholesale level to cover remediation costs.
Alaska 8 8 There is a .06 per gallon tax credit for gasohol used during a mandated control period in a CO non-attainment area. The motor fuel tax rate for marine use is 5 cents/gallon; aviation gas is 4.7 cents/gallon; and jet fuel is 3.2 cents/gallon.
Arizona 18 18 Plus 1 cpg UST tax. Use class vehicles pay an additional 9 cpg on diesel (with an exemption for vehicles under 26,000 gw).
Arkansas 21.5 22.5 Plus .2-cpg environmental assurance fee assessed at the wholesale level for underground storage tank fund.
California 18 18 Other taxes include a 6% state sales tax and 1.25% county, plus additional local sales taxes and 1.2 cents per gallon state UST fee.
Colorado 22 20.5 --
Connecticut 25 26 Plus 5% gross earnings tax collected at wholesale.
Delaware 23 22 --
Dist. of Columbia 20 20 --
Florida 14.5 27.2 The statewide excise tax is 14.5 cents per gallon for gasoline and 27.2 cpg for diesel. The 14.5 cents represents 10.5 cpg sales tax plus 4 cpg excise tax. Gasoline tax rate increased .2 cpg on 1/1/05. Tax rate changes annually based on CPI. Does not include 2.2-cpg tax/fee for environmental inspection purposes (5 cents per barrel tax for the Water Quality Assurance Trust Fund, 80 cents per barrel for the Inland Protection Trust Fund, 2 cents per barrel for the Coastal Protection Trust Fund and 1/8 cents per gallon for weights and measures inspection fee). Gasoline rate also does not include additional minimum 9.9 to 17.8 cent per gallon local option tax portion with the weighted average of 14.6 cents per gallon. Therefore, depending on where you live in Florida, your overall gasoline tax can vary from an average of 52.9 cents per gallon to 45 cents per gallon.
Georgia 7.5 7.5 Plus 4% sales tax.
Hawaii 16 16 Plus 4% sales tax and additional county taxes and 0.12-cpg environmental response tax.
Idaho 25 25 --
Illinois 19 21.5 Plus 6.25% sales tax and .3 % tax for underground storage tank fund, and other local sales and gasoline taxes. Diesel fuel taxes are 27.5 cpg for commercial highway users.
Indiana 18 16 Plus 6% sales tax and 0.008 per gallon inspection fee. For diesel, there is an 11-cpg surcharge paid on a quarterly self-reporting basis. Gasoline tax increased 3 cpg effective 1/1/03 per 2002
legislation.
Iowa 20 22.5 Plus 1 cpg UST fee. The gasoline tax for ethanol-blended gasoline is 19 cpg. Tax on gasoline is based on the amount of ethanol sold in the state. Ethanol sales review for 2004 will be complete 6/30/05 and the gasoline tax may be increased.
Kansas 24 26 Plus 1 cpg environmental fee. Gasoline tax increased 1 cents per gallon 7/1/03.
Kentucky 15 12 Variable based on 9% of the average wholesale price of gasoline with minimum price of $1.11 or 10 cpg. In addition, there is a supplemental highway user tax of 5 cpg for gasoline and 2 cpg for special fuels plus a 1.4-cpg underground storage tank fee. Commercial carriers pay surtax via a quarterly report of 2.2 cpg on gasoline and 5.2 cpg on special fuels.
Louisiana 20 20 --
Maine 25.2 26.3 Plus for gasoline: .07 cpg for Coastal and Inland Water fund, 1.38 cpg for Groundwater Fund and 40 cpg/10,000 gallons for Petroleum Market Share Act Plus for diesel: .07 cpg for Coastal and Inland Water Fund and .6 cpg for Groundwater Fund. Governor signed legislation in 2002 to index gasoline tax beginning 7/03. Tax increased .6 cpg 7/1/04.
Maryland 23.5 24.25 --
Massachusetts 23.5 23.5 Includes 2.5 cpg UST fund tax. UST tax increased from .5 cpg on 4/1/03.
Michigan 19 15 Plus 6% sales tax and 0.875 cpg for environmental regulation fee for refined petroleum fund.
Minnesota 20 20 Plus periodic 2 cpg UST cleanup fee at wholesale level which fluctuates depending on the fund balance. UST (Petro-fund) fee reinstated 11/1/04 and will run through February 2005.
Mississippi 18 18 Plus 0.4 cpg Environmental Protection Fee. In Hancock, Harrison and Jackson counties there is an additional 3 cpg Seawall tax.
Missouri 17 17 Governor signed legislation in 2002 that included removal of the 2008 expiration date of the 6-cpg temporary gasoline tax increase adopted by voters in 1992.
Montana 27.75 28.5 Includes 0.75-cpg fee assessed at the pump to go toward the state cleanup fund.
Nebraska 25.4 25.4 Variable -- 12.5-cent base plus 12.9 cpg variable rate. Does not include 0.9-cpg release prevention fee for gasoline and 0.3-cpg release prevention fee for diesel and other fuels. Variable rate increased ..6 cents per gallon for the period from 1/1/05 to 6/30/05.
Nevada 23 27 Plus up to 10-cpg county tax on gasoline, 0.75-cpg-cleanup fee, and .055 cpg inspection fee.
New Hampshire 18 18 Plus 0.1 cpg for oil pollution control fund, 1.5 cpg for UST cleanup fund, 1 cpg for AST and bulk storage fund. Also 2 cpg for fuel oil and bulk fuel oil storage.
New Jersey 14.5 17.5 Includes 10.5-cpg excise tax plus 4 cpg Petroleum Products Gross Receipts Tax.
New Mexico 17 18 Plus 1 cpg loading fee.
New York 31.9 28.9 Includes 8 cents per gallon excise tax, Petroleum Business Tax of 15.2 cents per gallon for gasoline and 13.45 cents per gallon for diesel (rate increased .6 cpg 1/1/05). Statewide volume weighted average sales tax increased 6/1/04 to 8.3 for per gallon for gasoline and 7.1 cents per gallon for diesel. Also a spill tax of 0.3 cent per gallon is collected on gasoline and diesel and a petroleum testing fee of 0.05 cent per gallon is levied on gasoline. Does not include an estimated 7.9 cents per gallon for gasoline and 6.7 cents per gallon for diesel from weighted county average sales taxes that range from 3.25% to 4.75%.
North Carolina 26.6 26.6 Plus 0.25-cpg inspection tax. Rate increased 2 cpg from 24.6 cents per gallon to 26.6 cents per gallon 1/1/05. It consists of a 17.5 cpg flat rate plus a variable rate of 9.1 cpg wholesale component based on 7% average wholesale price component based on prices from 4/1/04 to 9/30/04 (the average price for that period was 130.34 cents per gallon).
North Dakota 21 21 --
Ohio 26 26 Per 2003 legislation, rate increases 6 cpg in 2-year increments. First increase took effect 6/30/03. 7/1/04 rate increased another 2 cents per gallon (to 26 cents per gallon). Surcharge of 3 cpg for commercial vehicles.
Oklahoma 16 13 Plus 1 cpg per gallon UST fee.
Oregon 24 24 --
Pennsylvania 31.1 35.1 Plus 1.1 cpg fee on gasoline going into USTs (rate increased 1/1/04 from 1 cpg to 1.1 cpg). Includes 18 cent per gallon oil company franchise tax on liquid fuels (primarily gasoline) and 23 cents per gallon oil company franchise tax on fuels (primarily diesel) and a 12 cents per gallon tax liquid fuels tax rate. (Oil company franchise tax rate increased from 14.2 cents per gallon to 18 cents per gallon for gasoline and from 19.2 cents per gallon to 23 cents per gallon for diesel on 1/1/05.) Franchise tax based on the average wholesale price of gasoline during a 1-year period. For 2004 the average price was $1.17, up from 91.9 in 2003.
Rhode Island 30 30 Includes 3-cpg wholesale distributor tax. Does not include 1 cent per gallon environmental protection regulatory fee for UST program. Tax increased 2 cpg on 7/1/02.
South Carolina 16 16 Plus a 0.25 cpg inspection fee for inspection program and 0.50-cpg environmental fee for UST cleanup. Assessed on all petroleum products at the wholesale level.
South Dakota 22 22 Plus a 2-cpg throughput tax on distributors.
Tennessee 20 18 Plus 1-cent special petroleum tax for gasoline and .4 cpg environmental assurance fee.
Texas 20 20 --
Utah 24.5 24.5 --
Vermont 17.5 26 Rate includes 1 cpg license fee for UST fund.
Virginia 17.5 16 Plus 0.6-cpg petroleum storage tank fee and 2% sales tax on motor fuels in localities that are part of the Northern Virginia Transportation District.
Washington 28 28 Per legislation passed in 2003, rate increased 5 cpg effective 7/1/03.
West Virginia 20.5 20.5 Plus a 5% variable wholesale tax, presently 6.5 cpg, based on statewide average wholesale price of gasoline with a minimum price of $1.30 per gallon. Variable wholesale tax increased 1/1/05 from 4.85 cpg to 6.5 cpg.
Wisconsin 32.1 32.1 Variable -- adjusted annually on 4/1. Rate calculated by multiplying the current rate by an inflation factor (annual change in the consumer price index.) Includes 3-cpg oil inspection fee on gasoline and diesel. Gasoline and diesel tax increased 0.6 cpg on 4/1/04.
Wyoming 14 14 Includes base rate of 13 cpg plus 1 cpg to the environmental cleanup costs.
The Federal Tax of 18.4 cents per gallon is collected in all states in addition to any state or local taxes on gasoline sales.
Gasoline taxes are levied in various ways in different states. Some states, such as Louisiana, levy a flat rate per gallon. Others charge a tax similar to a sales tax in that it applies to the monetary amount of the gasoline sold. Other states allow local communities to levy gasoline taxes in addition to any state taxes that might be levied.
Source: American Petroleum Institute 1/13/05
Alabama 18 19 Includes 2-cpg inspection fee. Counties can levy up to 5 cpg with approval of the state legislature. Cities and counties can levy additional tax—rates range from .5 cents per gallon to 4 cents per gallon. An additional 1 cpg UST/AST Trust Fund Environmental Transport Fee is levied at the wholesale level to cover remediation costs.
Alaska 8 8 There is a .06 per gallon tax credit for gasohol used during a mandated control period in a CO non-attainment area. The motor fuel tax rate for marine use is 5 cents/gallon; aviation gas is 4.7 cents/gallon; and jet fuel is 3.2 cents/gallon.
Arizona 18 18 Plus 1 cpg UST tax. Use class vehicles pay an additional 9 cpg on diesel (with an exemption for vehicles under 26,000 gw).
Arkansas 21.5 22.5 Plus .2-cpg environmental assurance fee assessed at the wholesale level for underground storage tank fund.
California 18 18 Other taxes include a 6% state sales tax and 1.25% county, plus additional local sales taxes and 1.2 cents per gallon state UST fee.
Colorado 22 20.5 --
Connecticut 25 26 Plus 5% gross earnings tax collected at wholesale.
Delaware 23 22 --
Dist. of Columbia 20 20 --
Florida 14.5 27.2 The statewide excise tax is 14.5 cents per gallon for gasoline and 27.2 cpg for diesel. The 14.5 cents represents 10.5 cpg sales tax plus 4 cpg excise tax. Gasoline tax rate increased .2 cpg on 1/1/05. Tax rate changes annually based on CPI. Does not include 2.2-cpg tax/fee for environmental inspection purposes (5 cents per barrel tax for the Water Quality Assurance Trust Fund, 80 cents per barrel for the Inland Protection Trust Fund, 2 cents per barrel for the Coastal Protection Trust Fund and 1/8 cents per gallon for weights and measures inspection fee). Gasoline rate also does not include additional minimum 9.9 to 17.8 cent per gallon local option tax portion with the weighted average of 14.6 cents per gallon. Therefore, depending on where you live in Florida, your overall gasoline tax can vary from an average of 52.9 cents per gallon to 45 cents per gallon.
Georgia 7.5 7.5 Plus 4% sales tax.
Hawaii 16 16 Plus 4% sales tax and additional county taxes and 0.12-cpg environmental response tax.
Idaho 25 25 --
Illinois 19 21.5 Plus 6.25% sales tax and .3 % tax for underground storage tank fund, and other local sales and gasoline taxes. Diesel fuel taxes are 27.5 cpg for commercial highway users.
Indiana 18 16 Plus 6% sales tax and 0.008 per gallon inspection fee. For diesel, there is an 11-cpg surcharge paid on a quarterly self-reporting basis. Gasoline tax increased 3 cpg effective 1/1/03 per 2002
legislation.
Iowa 20 22.5 Plus 1 cpg UST fee. The gasoline tax for ethanol-blended gasoline is 19 cpg. Tax on gasoline is based on the amount of ethanol sold in the state. Ethanol sales review for 2004 will be complete 6/30/05 and the gasoline tax may be increased.
Kansas 24 26 Plus 1 cpg environmental fee. Gasoline tax increased 1 cents per gallon 7/1/03.
Kentucky 15 12 Variable based on 9% of the average wholesale price of gasoline with minimum price of $1.11 or 10 cpg. In addition, there is a supplemental highway user tax of 5 cpg for gasoline and 2 cpg for special fuels plus a 1.4-cpg underground storage tank fee. Commercial carriers pay surtax via a quarterly report of 2.2 cpg on gasoline and 5.2 cpg on special fuels.
Louisiana 20 20 --
Maine 25.2 26.3 Plus for gasoline: .07 cpg for Coastal and Inland Water fund, 1.38 cpg for Groundwater Fund and 40 cpg/10,000 gallons for Petroleum Market Share Act Plus for diesel: .07 cpg for Coastal and Inland Water Fund and .6 cpg for Groundwater Fund. Governor signed legislation in 2002 to index gasoline tax beginning 7/03. Tax increased .6 cpg 7/1/04.
Maryland 23.5 24.25 --
Massachusetts 23.5 23.5 Includes 2.5 cpg UST fund tax. UST tax increased from .5 cpg on 4/1/03.
Michigan 19 15 Plus 6% sales tax and 0.875 cpg for environmental regulation fee for refined petroleum fund.
Minnesota 20 20 Plus periodic 2 cpg UST cleanup fee at wholesale level which fluctuates depending on the fund balance. UST (Petro-fund) fee reinstated 11/1/04 and will run through February 2005.
Mississippi 18 18 Plus 0.4 cpg Environmental Protection Fee. In Hancock, Harrison and Jackson counties there is an additional 3 cpg Seawall tax.
Missouri 17 17 Governor signed legislation in 2002 that included removal of the 2008 expiration date of the 6-cpg temporary gasoline tax increase adopted by voters in 1992.
Montana 27.75 28.5 Includes 0.75-cpg fee assessed at the pump to go toward the state cleanup fund.
Nebraska 25.4 25.4 Variable -- 12.5-cent base plus 12.9 cpg variable rate. Does not include 0.9-cpg release prevention fee for gasoline and 0.3-cpg release prevention fee for diesel and other fuels. Variable rate increased ..6 cents per gallon for the period from 1/1/05 to 6/30/05.
Nevada 23 27 Plus up to 10-cpg county tax on gasoline, 0.75-cpg-cleanup fee, and .055 cpg inspection fee.
New Hampshire 18 18 Plus 0.1 cpg for oil pollution control fund, 1.5 cpg for UST cleanup fund, 1 cpg for AST and bulk storage fund. Also 2 cpg for fuel oil and bulk fuel oil storage.
New Jersey 14.5 17.5 Includes 10.5-cpg excise tax plus 4 cpg Petroleum Products Gross Receipts Tax.
New Mexico 17 18 Plus 1 cpg loading fee.
New York 31.9 28.9 Includes 8 cents per gallon excise tax, Petroleum Business Tax of 15.2 cents per gallon for gasoline and 13.45 cents per gallon for diesel (rate increased .6 cpg 1/1/05). Statewide volume weighted average sales tax increased 6/1/04 to 8.3 for per gallon for gasoline and 7.1 cents per gallon for diesel. Also a spill tax of 0.3 cent per gallon is collected on gasoline and diesel and a petroleum testing fee of 0.05 cent per gallon is levied on gasoline. Does not include an estimated 7.9 cents per gallon for gasoline and 6.7 cents per gallon for diesel from weighted county average sales taxes that range from 3.25% to 4.75%.
North Carolina 26.6 26.6 Plus 0.25-cpg inspection tax. Rate increased 2 cpg from 24.6 cents per gallon to 26.6 cents per gallon 1/1/05. It consists of a 17.5 cpg flat rate plus a variable rate of 9.1 cpg wholesale component based on 7% average wholesale price component based on prices from 4/1/04 to 9/30/04 (the average price for that period was 130.34 cents per gallon).
North Dakota 21 21 --
Ohio 26 26 Per 2003 legislation, rate increases 6 cpg in 2-year increments. First increase took effect 6/30/03. 7/1/04 rate increased another 2 cents per gallon (to 26 cents per gallon). Surcharge of 3 cpg for commercial vehicles.
Oklahoma 16 13 Plus 1 cpg per gallon UST fee.
Oregon 24 24 --
Pennsylvania 31.1 35.1 Plus 1.1 cpg fee on gasoline going into USTs (rate increased 1/1/04 from 1 cpg to 1.1 cpg). Includes 18 cent per gallon oil company franchise tax on liquid fuels (primarily gasoline) and 23 cents per gallon oil company franchise tax on fuels (primarily diesel) and a 12 cents per gallon tax liquid fuels tax rate. (Oil company franchise tax rate increased from 14.2 cents per gallon to 18 cents per gallon for gasoline and from 19.2 cents per gallon to 23 cents per gallon for diesel on 1/1/05.) Franchise tax based on the average wholesale price of gasoline during a 1-year period. For 2004 the average price was $1.17, up from 91.9 in 2003.
Rhode Island 30 30 Includes 3-cpg wholesale distributor tax. Does not include 1 cent per gallon environmental protection regulatory fee for UST program. Tax increased 2 cpg on 7/1/02.
South Carolina 16 16 Plus a 0.25 cpg inspection fee for inspection program and 0.50-cpg environmental fee for UST cleanup. Assessed on all petroleum products at the wholesale level.
South Dakota 22 22 Plus a 2-cpg throughput tax on distributors.
Tennessee 20 18 Plus 1-cent special petroleum tax for gasoline and .4 cpg environmental assurance fee.
Texas 20 20 --
Utah 24.5 24.5 --
Vermont 17.5 26 Rate includes 1 cpg license fee for UST fund.
Virginia 17.5 16 Plus 0.6-cpg petroleum storage tank fee and 2% sales tax on motor fuels in localities that are part of the Northern Virginia Transportation District.
Washington 28 28 Per legislation passed in 2003, rate increased 5 cpg effective 7/1/03.
West Virginia 20.5 20.5 Plus a 5% variable wholesale tax, presently 6.5 cpg, based on statewide average wholesale price of gasoline with a minimum price of $1.30 per gallon. Variable wholesale tax increased 1/1/05 from 4.85 cpg to 6.5 cpg.
Wisconsin 32.1 32.1 Variable -- adjusted annually on 4/1. Rate calculated by multiplying the current rate by an inflation factor (annual change in the consumer price index.) Includes 3-cpg oil inspection fee on gasoline and diesel. Gasoline and diesel tax increased 0.6 cpg on 4/1/04.
Wyoming 14 14 Includes base rate of 13 cpg plus 1 cpg to the environmental cleanup costs.
The Federal Tax of 18.4 cents per gallon is collected in all states in addition to any state or local taxes on gasoline sales.
Gasoline taxes are levied in various ways in different states. Some states, such as Louisiana, levy a flat rate per gallon. Others charge a tax similar to a sales tax in that it applies to the monetary amount of the gasoline sold. Other states allow local communities to levy gasoline taxes in addition to any state taxes that might be levied.
Source: American Petroleum Institute 1/13/05
Monday, April 24, 2006
Is Iran bluffing?
I am begining to notice that every time the Irainian president makes a threat oil prices jump. Given that Iran is broke perhaps they need higher oil prices to make more money. To many guns not enough butter and perhaps another example of the human folly of a regime trying to fight the laws of supply and demand?
Fun Facts about Taxes
Since 1977, governments collected more than $1.34 trillion, after adjusting for inflation, in gasoline tax revenues—more than twice the amount of domestic profits earned by major U.S. oil companies during the same period. (Tax Prof)
The Top 50% pay 96.54% of All Income Taxes .
The Top 1% Pay More Than a Third: 34.27%. (IRS)
The Top 50% pay 96.54% of All Income Taxes .
The Top 1% Pay More Than a Third: 34.27%. (IRS)
Wednesday, April 19, 2006
News
U.S. EMPLOYERS ADDED 211,000 jobs to nonfarm payrolls during March and the unemployment rate fell to 4.7%, matching the lowest level since July 2001. (WSJ)
NEW YORK (MarketWatch) - The yield on the 30-year Treasury bond broke above the 5% level early Friday for the first time since the long bond was revived in February. The last time the yield was above 5% was in December, 2004.
Iran has successfully enriched uranium for the first time, a landmark in its quest to develop nuclear fuel, hard-line President Mahmoud Ahmadinejad said Tuesday. He insisted, however, that his country does not aim to develop nuclear weapons. (AP)
IRAN SAID THAT IT HAS BEGUN to enrich uranium, in direct defiance of a U.N. Security Council demand that it suspend sensitive nuclear activities. The move comes as the head of the U.N.'s nuclear watchdog agency was due to visit Tehran.(WSJ)
The US economy isn't just producing jobs these days, it's also producing good jobs. Alongside the ads for jobs handling a cash register or a spatula are these new opportunities. (CSM)
Muhammad Ali sold majority rights to his name, image and likeness to licensing firm CKX for about $50 million. (WSJ)
April 12 (Bloomberg) -- The U.S. trade deficit shrank more in February than economists expected, to $65.7 billion, led by a decline in Chinese imports that may be temporary and do little to ease demands for sanctions.
Iran has successfully enriched uranium for the first time, a landmark in its quest to develop nuclear fuel, hard-line President Mahmoud Ahmadinejad said Tuesday. He insisted, however, that his country does not aim to develop nuclear weapons. (AP)
China's trade surplus surged in March, sharply illustrating US concerns about its swelling bilateral deficit days before Hu Jintao, China's president, travels to Washington for a summit meeting with President George W. Bush. (MSNBC)
US tourism industry leaders and top government officials on Tuesday urged collaboration between the public and private sectors to stem shrinking US market share of international visitors. (FT)
April 13, 2006 -- The young Harvard-educated Wall Streeter jailed yesterday for masterminding a bizarre insider-trading scam involving a crooked banker, a Croatian seamstress and an exotic dancer has a passion besides the stock market: ballroom dancing. (NY POST)
LONDON (MarketWatch) -- London's FTSE 100 Index rose to its highest level in more than five years on Wednesday, following more gains in the energy sector and a sharp rally overnight on Wall Street on hopes that U.S. interest rate hikes were near an end.
U.S. stocks put in their best one-day gain in a year on Tuesday, after minutes from the latest Federal Reserve meeting showed most members agreed the central bank's chapter of steady rate hikes was coming to a close. The Dow industrials rallied nearly 200 points, and the Nasdaq Composite and S&P 500 indexes also jumped higher.(MarketWatch)
Warning; there is enormous volatility in commodity and energy prices
April 19,2006
Hello,
The market continues to push up commodity and energy prices ,unlike many I have been and remain very bullish on energy stocks .I have frequently called this the “Energy decade” ,like the 1990’s was the Technology decade. Global pressures on commodity prices have similarities to those on energy. Higher risk has been associated with countries that produce these products along with the underinvestment in the infrastructure it takes to acquire process and transport these products. Warning; there is enormous volatility in commodity and energy prices, so for most investors the long term view is a better vantage point.
It looks like two of the main issues keeping a lid on market, raising interest rates and inflation seem to finally be favoring investors. Recent data suggest inflation remains modest and the FED has begun to indicate that the period pervasive rate increases may be at an end. This led to yesterdays huge one day rally .As you know I have long maintained that the enormous increases in productivity the last 6 years has kept both rate raises and energy price increases from doing any significant damage to the US economy or generating more than modest inflation. Nice to see the FED is finally on board and may be the catalyst for a very large upward move in the market I have been anticipating for some time.
The chess game continues with Iran , despite the recent discovery by the mainstream media the Iran is a major issue in the war on terror the chess game has being going on for some time. War games, missile tests, diplomacy and so on everyday bring in new moves by Iranians and counter moves by the Bush administration looking to prevent the Iranians from acquiring nuclear missile technology. To consumers and investors the question is how will all this activity impact our oil supplies? But remember high prices over time bring on additional supplies and makes alternatives more appetizing.
James
www.jamesfoytlin.com
Hello,
The market continues to push up commodity and energy prices ,unlike many I have been and remain very bullish on energy stocks .I have frequently called this the “Energy decade” ,like the 1990’s was the Technology decade. Global pressures on commodity prices have similarities to those on energy. Higher risk has been associated with countries that produce these products along with the underinvestment in the infrastructure it takes to acquire process and transport these products. Warning; there is enormous volatility in commodity and energy prices, so for most investors the long term view is a better vantage point.
It looks like two of the main issues keeping a lid on market, raising interest rates and inflation seem to finally be favoring investors. Recent data suggest inflation remains modest and the FED has begun to indicate that the period pervasive rate increases may be at an end. This led to yesterdays huge one day rally .As you know I have long maintained that the enormous increases in productivity the last 6 years has kept both rate raises and energy price increases from doing any significant damage to the US economy or generating more than modest inflation. Nice to see the FED is finally on board and may be the catalyst for a very large upward move in the market I have been anticipating for some time.
The chess game continues with Iran , despite the recent discovery by the mainstream media the Iran is a major issue in the war on terror the chess game has being going on for some time. War games, missile tests, diplomacy and so on everyday bring in new moves by Iranians and counter moves by the Bush administration looking to prevent the Iranians from acquiring nuclear missile technology. To consumers and investors the question is how will all this activity impact our oil supplies? But remember high prices over time bring on additional supplies and makes alternatives more appetizing.
James
www.jamesfoytlin.com
Wednesday, April 12, 2006
'BLESSINGS OF GOD ALMIGHTY'
Thirty years after 
the Carter Administration's failed Iran policy we are still dealing with the mess he created.
The market is looking skittish a head of today’s opening cautious investors should look to take some profits ahead of the long Easter weekend . Remember traders are looking to raise cash to pay their taxes so there seems to be a case this week for taking a little off the table. Tight supplies for gasoline, a transition to new gasoline formulas and heightening tensions with Iran and renewed instability in Nigeria are all leading to higher energy prices. Investors should look to build cash a head of buying opportunities.
the Carter Administration's failed Iran policy we are still dealing with the mess he created.The market is looking skittish a head of today’s opening cautious investors should look to take some profits ahead of the long Easter weekend . Remember traders are looking to raise cash to pay their taxes so there seems to be a case this week for taking a little off the table. Tight supplies for gasoline, a transition to new gasoline formulas and heightening tensions with Iran and renewed instability in Nigeria are all leading to higher energy prices. Investors should look to build cash a head of buying opportunities.
Tuesday, April 11, 2006
U.S. EMPLOYERS ADDED 211,000 jobs to nonfarm payrolls during March and the unemployment rate fell to 4.7%, matching the lowest level since July 2001. (WSJ)
NEW YORK (MarketWatch) - The yield on the 30-year Treasury bond broke above the 5% level early Friday for the first time since the long bond was revived in February. The last time the yield was above 5% was in December, 2004.
Iran has successfully enriched uranium for the first time, a landmark in its quest to develop nuclear fuel, hard-line President Mahmoud Ahmadinejad said Tuesday. He insisted, however, that his country does not aim to develop nuclear weapons. (AP)
IRAN SAID THAT IT HAS BEGUN to enrich uranium, in direct defiance of a U.N. Security Council demand that it suspend sensitive nuclear activities. The move comes as the head of the U.N.'s nuclear watchdog agency was due to visit Tehran.(WSJ)
The US economy isn't just producing jobs these days, it's also producing good jobs. Alongside the ads for jobs handling a cash register or a spatula are these new opportunities. (CSM)
Muhammad Ali sold majority rights to his name, image and likeness to licensing firm CKX for about $50 million. (WSJ)
The chess game continues with Iran
The chess game continues with Iran , despite the recent discovery by the mainstream media the Iran is a major issue in the war on terror the chess game has being going on for some time. War games, missile tests, diplomacy and so on everyday bring in new moves by Iranians and counter moves by the Bush administration looking to prevent the Iranians from acquiring nuclear missile technology. To consumers and investors the question is how will all this activity impact our oil supplies? But remember high prices over time bring on additional supplies and makes alternatives more appetizing.
The market continues to push up commodity and energy prices
The market continues to push up commodity and energy prices ,unlike many I have been and remain very bullish on energy stocks .I have frequently called this the “Energy decade” ,like the 1990’s was the Technology decade. Global pressures on commodity prices have similarities to those on energy. Higher risk has been associated with countries that produce these products along with the underinvestment in the infrastructure it takes to acquire process and transport these products. Warning; there is enormous volatility in commodity and energy prices, so for most investors the long term view is a better vantage point.
Monday, April 10, 2006
Nothing new here
The market got rattled the end of last week by the mainstream media’s reorganization the a ”war with Iran could be imminent” .Well hey guys welcome to the party nice of you to notice it has only been 3 years that I started warning that when it comes to terrorism all roads lead to Iran. Regime change in Iran is in the cards weather it is preceded by an external or internal event and that is it.
The second issue affecting the market is the continued rally in commodity prices which implies higher risk and inflation. Well the risk of a war with Iran is about the same as it has been anytime in the last several years and despite continued commodity price increases there seems to be little on no inflation; productivity continues to out pace prices keeping a lid on prices. But and this is a big But, inflation as well as deflation has a tendency to bubble up and suddenly fall upon us.
The second issue affecting the market is the continued rally in commodity prices which implies higher risk and inflation. Well the risk of a war with Iran is about the same as it has been anytime in the last several years and despite continued commodity price increases there seems to be little on no inflation; productivity continues to out pace prices keeping a lid on prices. But and this is a big But, inflation as well as deflation has a tendency to bubble up and suddenly fall upon us.
Thursday, April 06, 2006
Recent indications from the FED
Recent indications from the FED suggests that the FED seems to moving toward a more neutral stance, therefore ending a long period of interest rate raises. The head wind of raising interest rates incrementally has kept a lid on equity price appreciation. With out that head wind these seem to be ample opportunity for the market to move up significantly.
Wednesday, April 05, 2006
ethanol affectionately known as hooch,golf fairways would suffer
April 1 2006
Hello,
The best start for stocks in the last six years and all anyone can talk about is how ethanol, (affectionately known as hooch) and how it will replace MTBE (methyl tertiary butyl ether, don’t ask) in your gasoline. Gasoline will now post proof in the lieu of octane levels. This is all part of the administrations new energy policy attempting to expand refinery capacity buy encouraging still owners and pushing energy independence through the use of moonshine. Saudi Arabia was quick to point out that consumption of alcohol was forbidden in the Kingdom and was further evidence that the great satin himself was trying to undermine the morals of their society.
A further dampening of market spirits was felt when the FED announced that moves to signal a change in policy of raising rates were merely an April Fools joke gone too far ,and that the preeminent policy of the FED remains to teach a new generation of home buyers a lesson in the dangers of buying real-estate “no money down” .
Mayor Mike Bloomberg put his own spin on the immigration debate complaining that golfers would unfairly carry the burden of any restrictions on illegals. The PGA immediately announced that it was organizing a protest asking members to just put around the office all next week. Anyway I am going to keep reminding you:
IRA Contribution Limits
YEAR AGE 49 & BELOW AGE 50 & ABOVE
2002-2004 $3,000 $3,500
2005 $4,000 $4,500
2006-2007 $4,000 $5,000
2008 $5,000 $6,000
After 2008, the contribution limit will raise in increments of $500 depending upon the level of inflation.
Call me today for the easy IRA Kit 1(888)599-1188
If you are single and your modified adjusted gross income is below $50,000, you can sock away $4,000 in a traditional IRA. If you happen to be 50 or older, you may add $500 under the catch-up provision. In order to receive the full deduction, your modified adjusted gross income must be below $70,000, if you are married and filing jointly. If you earned more than these amounts, you may still be able to contribute and receive a partial deduction, but you should consult with your accountant.
The income limits for ROTH IRA's are much higher, $95,000 or less for single taxpayers and $150,000 or less for married people filing jointly. The great thing about the Roth IRA is that growth is tax free! You must leave the money in past age 59½; however, you do not have to take withdrawals and are not forced to do so at age 70½.
James
www.jamesfoytlin.com
Monday, April 03, 2006
MARKET PERFORMANCE
MARKET PERFORMANCE
1st Quarter 2006
12/30/05 03/31/06 1st Quarter
Close Close % Change
DJIA 10,717.50 11,109.32 Up 3.66%
S&P 500 1,248.29 1,294.83 Up 3.73%
NASDAQ 2,205.32 2,339.79 Up 6.10%
Russell 2000 673.22 765.14 Up 13.65%
1st Quarter 2006
12/30/05 03/31/06 1st Quarter
Close Close % Change
DJIA 10,717.50 11,109.32 Up 3.66%
S&P 500 1,248.29 1,294.83 Up 3.73%
NASDAQ 2,205.32 2,339.79 Up 6.10%
Russell 2000 673.22 765.14 Up 13.65%
Sunday, April 02, 2006
in the news this week
"Traders remain extremely nervous about gasoline supplies, especially with the switch to ethanol nationwide," said energy analyst Peter Beutel of Cameron Hanover.
WASHINGTON (AP) -- Construction spending rose to a record level in February as home building hit an all-time high despite a weakening in home sales, the government said Monday.
DETROIT (AP) -- General Motors Corp., which is struggling to turn around its North American automaking operations, announced Monday that it has reached an agreement to sell a 51 percent stake in its profitable finance arm.
TEHRAN, Iran (AP) - Iran successfully tested its second new torpedo in as many days Monday, the latest weapon to be unveiled during war games in the Gulf that the military said are aimed at preparing the country's defenses against the United States.March 30, 2006 -- A group of traders on The New York Mercantile Exchange are furious at being denied a chance to buy pre-IPO shares in the lucrative energy market and some are threatening to walk off the job if seat owners don't bend to their demands. (NY POST)
While the city faces a looming electricity shortage, an application for an underground steam and electrical power plant on the East River waterfront in Brooklyn is gathering dust in an Albany office. (NY SUN)
NEW YORK, April 1 (UPI) -- New York Mayor Michael Bloomberg says golf fairways would suffer if illegal immigrants were returned to their native country.
A high-level meeting will take place in the Ministry of Defence at which senior defence chiefs and government officials will consider the consequences of an attack on Iran. (UK NEWSTELEGRAPH)
As tensions increase between the United States and Iran, U.S. intelligence and terrorism experts say they believe Iran would respond to U.S. military strikes on its nuclear sites by deploying its intelligence operatives and Hezbollah teams to carry out terrorist attacks worldwide. (WASHINGTON POST)
On December 18, 2000, just after the Supreme Court ruled on the election, Hillary Clinton gave Laura Bush a tour of the White House. The incoming-First Lady was dismayed at what she saw: Not only were carpets and furnishings fraying and in disrepair in the West Wing and public areas, the Oval Office was done in loud colors—red, blue, and gold! The East Wing was cut up into small offices and had exposed electrical conduits. Many of the furnishings looked dated.(MATT DRUDGE)
ABC News suspended the executive producer of the weekend edition of "Good Morning America" yesterday over a pair of leaked e-mails in which he used inflammatory language to slam President Bush and Madeleine Albright. (WASHINGTON POST)
A FORMER Russian prime minister has warned that his country is slipping into a dictatorship similar to the harsh regime in neighbouring Belarus.(TIMEONLINE)
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