Re: Tariffs and bikes

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.

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