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From: John B. <slocombjb@gmail.com>
Newsgroups: rec.bicycles.tech
Subject: Re: Tariffs and bikes
Date: Sat, 05 Apr 2025 09:57:39 +0700
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On Fri, 4 Apr 2025 21:30:12 -0500, AMuzi <am@yellowjersey.org> wrote:

>On 4/4/2025 9:03 PM, Frank Krygowski wrote:
>> On 4/4/2025 12:26 PM, AMuzi wrote:
>>>
>>> You can have whatever opinion you like but not your own 
>>> facts. 
>> 
>> Heck, I thought it was fashionable to have "alternative 
>> facts" if you don't like the look of normal ones! Wasn't 
>> that made clear during Trump version 1?
>> 
>>> USA has among the most steeply sloped tax regimes on 
>>> earth, such that the top 1% of earners pay roughly half of 
>>> all income tax.
>>>
>>> https://usafacts.org/articles/who-pays-the-most-income-tax/
>> 
>> The USA also has some of the highest income and wealth 
>> disparity of developed nations. Granted, not as bad as many 
>> small 3rd world countries - but I think we should not be 
>> striving to emulate those.
>> 
>> https://www.oxfamamerica.org/explore/issues/economic- 
>> justice/income-and-wealth-inequality/
>> 
>> I'd say that means our tax structure is still insufficiently 
>> progressive.
>> 
>> And what should we be trying to achieve anyway? ISTM our 
>> nation was founded on the idea of doing away with a 
>> privileged class lording it over those purportedly of less 
>> worth. Also the idea of everyone (well, as long as their 
>> complexion wasn't too dark) getting an equal shot at 
>> prosperity. If nothing else, those ideas, if implemented, 
>> work toward keeping the masses content enough that they 
>> don't literally rebel. Rebellions are messy, unpredictable, 
>> and bad for bike shops.
>> 
>> We now have a new privileged class, one that can rake in 
>> millions per year and pay lower rates than struggling middle 
>> Americans, in part because of clever deductions. Remember 
>> Leona Helmsley? "Taxes are for little people."
>> 
>> And of course, any money made over $170,000 per year is free 
>> of Social Security duties. Because hey, one's third mega- 
>> mansion is much more important than better food for the 
>> family making $50,000 per year. Why should the ultra-rich 
>> help to keep Social Security afloat?
>> 
>> 
>
>The 'disparity' is a myth in that it counts only taxable 
>earnings, ignoring that fully half the country pays no 
>income tax.  Many of those receive 'negative tax' payments 
>and in fact dos very well on relief, much better than many 
>working people.
>
>Regarding wealthy citizens, we do indeed have some inherited 
>wealth but almost all the top earners are self made 
>including an astonishingly large number of legal immigrants 
>especially Indian, other Asian and notably Nigerians:
>
>https://africanmind.org/statistical-portrait-of-nigerian-americans-accomplishments-paradoxes-and-misconceptions/
>
>who seem to have learned to stay out of Poland Ohio and so 
>do quite well here.
>
>Your snarky racism comment is ridiculous.
>
>https://www.britannica.com/money/Herman-Cain
>
>https://www.the-sun.com/news/4916213/willie-wilson-how-became-millionaire/
>
>Mr Wilson literally plowed fields behind a mule before 
>taking his talents elsewhere.
>
>Some black one-percenters (not the motorcycle type one 
>percenters):
>
>https://247wallst.com/income/2024/08/08/meet-the-wealthiest-black-americans/
>
>Back to our mere millionaires:
>
>https://www.forbes.com/sites/korihale/2022/10/25/millionaire-status-is-on-the-rise-with-52-million-people-joining-the-club/
>
>There are 224 times more black millionaires in USA than the 
>top 19 countries of Africa combined.
>
>Go stick your racism somewhere else.

Disregarding any racism I would ask "how does a modern millionaire
compare with a millionaire of, say 20 years ago?

2005 gold was in the $709.00 range and to day's price is ????


-- 
Cheers,

John B.