The IRS increased the standard mileage deduction early this year. Instead of waiting until fall, the IRS upped the optional standard mileage deduction from 50.5 cents a mile to 58.5 cents a mile.
Within the last year our fuel prices have gone up over a dollar per gallon so the answer and their way to help is by raising the deduction 8 cents a few months early. Let's do the math. Gas prices have increased by 30 to 40% over the last year and the deduction increases 15%.
Is our government trying to justify our ridiculously high gas prices? Do they think that this makes it all better? I guess we need to take what we can get right now.
Why don't the we look at the real problem....Oil. I really find it hard to believe that the United States doesn't have the resources to do more to alleviate our oil problems. We really need to figure out some options.
We were sold that ethanol was the answer. Ethanol burns more inefficiently than gas and there is no real net benefit to using it. Ethanol uses the corn that we used for feed. Now the cost of meat and dairy has gone up. We need to admit that we made a mistake and look at other options.
I could go on for days about this. My original intent was to pass along the information about the mileage increase. This has really caused us to stop and think about where we need to drive. I am constantly on the go showing houses, previewing properties for clients and running here or there. My office is in my car. We have to stop and think twice before we just hop in the car and go.
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