IRS Announces 2008 Standard Mileage Rates

[bob jenkins]

Originally Posted by Rizzo21

Considering FICA, Fed. and State savings from that deduction and the fact that I get about 30mpg, it basically pays for my gas (but not wear and tear) at the current pump price. I'll take it.

Oh, please.

At $3.00 / gallon at 30 MPG, your gas costs $0.10 / mile. Even if you pay $4.50 / gallon, that's still only $0.15 / mile. There's a lot to cover "wear and tear" and insurance and depreciation.

(I'm not saying that $0.505 covers it all; but it covers more than just gas)

[Mark Padgett]

Originally Posted by bob jenkins

Oh, please.

At $3.00 / gallon at 30 MPG, your gas costs $0.10 / mile. Even if you pay $4.50 / gallon, that's still only $0.15 / mile. There's a lot to cover "wear and tear" and insurance and depreciation.

(I'm not saying that $0.505 covers it all; but it covers more than just gas)

In my car (a Rolls Canardly), the mileage is so poor, I measure it in gallons per mile!

BTW - a Rolls Canardly got that name because it rolls down one hill and canardly get up the next.