Re: Tariffs and bikes

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