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From: AMuzi <am@yellowjersey.org>
Newsgroups: rec.bicycles.tech
Subject: Re: Tariffs and bikes
Date: Sun, 6 Apr 2025 19:18:06 -0500
Organization: Yellow Jersey, Ltd.
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On 4/6/2025 1:45 PM, zen cycle wrote:
> On 4/6/2025 1:28 PM, cyclintom wrote:
>> On Sun Apr 6 07:29:37 2025 zen cycle  wrote:
>>> On 4/5/2025 11:38 AM, Mark J cleary wrote:
>>>> On 4/5/2025 10:11 AM, AMuzi wrote:
>>>>> On 4/5/2025 9:36 AM, sms wrote:
>>>>>> On 4/4/2025 5:59 PM, Jeff Liebermann wrote:
>>>>>>> On Fri, 04 Apr 2025 23:36:14 GMT, cyclintom 
>>>>>>> <cyclintom@yahoo.com>
>>>>>>> wrote:
>>>>>>>
>>>>>>>> In California add to the top rate another 12%. plus 
>>>>>>>> gas tax, plus
>>>>>>>> salews tax,plus 50% inheretance tax, property taxes.
>>>>>>>
>>>>>>> The California estate tax was reduced starting in 
>>>>>>> 2001 and ended in
>>>>>>> 2005:
>>>>>>> <https://www.sco.ca.gov/ardtax_estate_tax.html>
>>>>>>> Since your mother died in 2019, you should have 
>>>>>>> noticed that there was
>>>>>>> no estate tax.
>>>>>>
>>>>>> <snip>
>>>>>>
>>>>>> Besides there being no inheritance tax or estate tax, 
>>>>>> the first
>>>>>> $13.61 million in value of an inheritance is exempt 
>>>>>> from Capital
>>>>>> Gains taxes, thanks to the Step-Up in Basis rule.
>>>>>>
>>>>>> California ranks 35th in the country for property tax 
>>>>>> percentage, and
>>>>>> thanks to Prop 13, long time homeowners pay a pittance 
>>>>>> in property
>>>>>> tax, including on inherited property prior to December 
>>>>>> 16, 2020 (when
>>>>>> Prop 19 took effect).
>>>>>>
>>>>>> With Prop 19, heirs get $1 million off the assessed 
>>>>>> value of property
>>>>>> they inherit (or they pay the current assessed value, 
>>>>>> whichever is
>>>>>> greater). Since Tom's property is worth less than $1 
>>>>>> million, the
>>>>>> property tax rate of any heirs would not go up at all.
>>>>>>
>>>>>> However California has the highest income tax rate in 
>>>>>> the country,
>>>>>> which is why so many wealthy people establish 
>>>>>> residency in Nevada.
>>>>>>
>>>>>> Where Tom lives, the sales tax is a whopping 10.75%, 
>>>>>> but in nearby
>>>>>> San Francisco it's 8.625%, more than 2% lower. For any 
>>>>>> large
>>>>>> purchases he should go to San Francisco. In my city 
>>>>>> it's 9.13%.
>>>>>>
>>>>>> If Tom paid anything in inheritance taxes then his 
>>>>>> accountant was
>>>>>> either incompetent or was stealing from him.
>>>>>>
>>>>>
>>>>> Many ways to view that or parse it.
>>>>>
>>>>> For 2023, selected states by population, annual budget 
>>>>> and simple ratio:
>>>>>
>>>>> Florida 24 million people, $116 billion budget = 4.8
>>>>> New York 20 million people, $122 billion budget = 6.1
>>>>> California 40 million people, $308 billion budget = 7.7
>>>>>
>>>>> I don't doubt you that there are local differences of 
>>>>> sales tax and
>>>>> property tax within California.
>>>>>
>>>>>
>>>>> California is however a high-tax State and the voters 
>>>>> seem to prefer
>>>>> it that way.
>>>>>
>>>>
>>>> Illinois is a high tax state and everyone is trying to 
>>>> get out who
>>>> happen to be conservatives. The nuts running this state 
>>>> all are against
>>>> anything that might be helpful that Trump is doing. Out 
>>>> property taxes
>>>> are the 2nd highest in the nation.
>>>>
>>>
>>> <trying to think of anything helpful trump is doing........>
>>> https://www.youtube.com/watch?v=0Wi8Fv0AJA4
>>
>>
>>
>>
>> Only you could think that at least three trillion dollars 
>> in savings per year isn't helpful in a time when we 
>> couldn't even pay the interest of the Biden national debt.
> 
> Trying to thing of anything trump is doing that will result 
> in even the tiniest fraction of $3T........
> 
> 
> 
> 

+1

Once Congressmen start carping about ANY cuts in their 
district, its over.  I've seen this movie before. Many times.

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