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From: zen cycle <funkmasterxx@hotmail.com>
Newsgroups: rec.bicycles.tech
Subject: Re: Tariffs and bikes
Date: Sun, 6 Apr 2025 07:29:37 -0400
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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