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From: AMuzi <am@yellowjersey.org>
Newsgroups: rec.bicycles.tech
Subject: Re: Tariffs and bikes
Date: Fri, 4 Apr 2025 14:52:25 -0500
Organization: Yellow Jersey, Ltd.
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On 4/4/2025 12:59 PM, Shadow wrote:
> On Fri, 4 Apr 2025 11:26:12 -0500, AMuzi <am@yellowjersey.org> wrote:
> 
>> On 4/4/2025 11:16 AM, sms wrote:
>>> The whole idea of increasing taxes on the masses, while
>>> decreasing them on the wealthy, is so Republican, and so
>>> Reaganesque with the fraud of "Trickle-Down Economics."
>>>
>>> These new high taxes on discretionary items will be
>>> disastrous since a new bike, a new phone, or even a new car,
>>> is not generally a required purchase, and consumers will be
>>> unwilling to pay much more. So companies like Trek will
>>> likely absorb some of the tariffs by accepting lower margins.
>>>
>>> OTOH, some businesses, like car repair shops will see more
>>> business as consumers spend more to keep their existing
>>> vehicle working.
>>>
>>> For items that are not discretionary, like food, we'll just
>>> have to pay more for the same items or switch to lower-cost
>>> items.
>>>
>>>
>>>
>>
>> You can have whatever opinion you like but not your own
>> facts.  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.
> 
> 	So what is your income tax rate? Here it's from 0 to 27.5% (0%
> for people who don't make enough to eat and pay only purchase tax (60%
> on food) to people that make more than US$ 500, 00 a month and are
> considered "rich" employees.
> 
> 	Businessmen, market "players", multinationals and banks are
> all tax exempt. We are a right wing country, more or less expected.
> Inheritance tax is around 1%, but most millionaires get a judge to
> exempt them.
> 
> 	Give me an example. If Musk manages to buy the judges in Texas
> and gives himself over 50 billion dollars for a year's "hard" work
> breaking Tesla, how much of that will he pay as income tax?
>>
>> https://usafacts.org/articles/who-pays-the-most-income-tax/
> 
> 	USA facts is founded and run by a billionaire(Steve Ballmer)
> one of the most notorious tax-evaders in the world. LOL, he probably
> deducts any expenses with his "ORG".
> 	Hardly a "reference" for unbiased tax "facts".
> 	IMHO
> 	[]'s
>>
>> Moreover, various Cassandras notwithstanding, no significant
>> changes to the current (2017 Act) schedules are in play.
>>
>> Regarding Trek, otherwise known as The Great Chinese Bicycle
>> Selling Company, meh.

I carry no water for Mr Ballmer.  I (and others) have linked 
many tax reporting sites over the years with the same 
numbers as that one.

I also have no animus toward Brasil. Run your own country 
any way you like, not my problem. Our tax rates are in 
theory zero to 37.5%.

https://www.irs.gov/filing/federal-income-tax-rates-and-brackets

In practice, relief here, with our "negative income tax" 
policies, is the equivalent of up to $62,000 per year* or 
well over what many working people make before taxes. 
Again, this is not a policy statement either way, just 
reporting.

https://www.irs.gov/filing/federal-income-tax-rates-and-brackets

*for 2022.  Higher now of course.

-- 
Andrew Muzi
am@yellowjersey.org
Open every day since 1 April, 1971