Re: Tariffs and bikes

On 4/4/2025 9:57 PM, John B. wrote:

On Fri, 4 Apr 2025 21:30:12 -0500, AMuzi <am@yellowjersey.org> wrote:
 

On 4/4/2025 9:03 PM, Frank Krygowski wrote:

On 4/4/2025 12:26 PM, AMuzi wrote:

>
You can have whatever opinion you like but not your own
facts.

>
Heck, I thought it was fashionable to have "alternative
facts" if you don't like the look of normal ones! Wasn't
that made clear during Trump version 1?
>

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.
>
https://usafacts.org/articles/who-pays-the-most-income-tax/

>
The USA also has some of the highest income and wealth
disparity of developed nations. Granted, not as bad as many
small 3rd world countries - but I think we should not be
striving to emulate those.
>
https://www.oxfamamerica.org/explore/issues/economic-
justice/income-and-wealth-inequality/
>
I'd say that means our tax structure is still insufficiently
progressive.
>
And what should we be trying to achieve anyway? ISTM our
nation was founded on the idea of doing away with a
privileged class lording it over those purportedly of less
worth. Also the idea of everyone (well, as long as their
complexion wasn't too dark) getting an equal shot at
prosperity. If nothing else, those ideas, if implemented,
work toward keeping the masses content enough that they
don't literally rebel. Rebellions are messy, unpredictable,
and bad for bike shops.
>
We now have a new privileged class, one that can rake in
millions per year and pay lower rates than struggling middle
Americans, in part because of clever deductions. Remember
Leona Helmsley? "Taxes are for little people."
>
And of course, any money made over $170,000 per year is free
of Social Security duties. Because hey, one's third mega-
mansion is much more important than better food for the
family making $50,000 per year. Why should the ultra-rich
help to keep Social Security afloat?
>
>

>
The 'disparity' is a myth in that it counts only taxable
earnings, ignoring that fully half the country pays no
income tax.  Many of those receive 'negative tax' payments
and in fact dos very well on relief, much better than many
working people.
>
Regarding wealthy citizens, we do indeed have some inherited
wealth but almost all the top earners are self made
including an astonishingly large number of legal immigrants
especially Indian, other Asian and notably Nigerians:
>
https://africanmind.org/statistical-portrait-of-nigerian-americans-accomplishments-paradoxes-and-misconceptions/
>
who seem to have learned to stay out of Poland Ohio and so
do quite well here.
>
Your snarky racism comment is ridiculous.
>
https://www.britannica.com/money/Herman-Cain
>
https://www.the-sun.com/news/4916213/willie-wilson-how-became-millionaire/
>
Mr Wilson literally plowed fields behind a mule before
taking his talents elsewhere.
>
Some black one-percenters (not the motorcycle type one
percenters):
>
https://247wallst.com/income/2024/08/08/meet-the-wealthiest-black-americans/
>
Back to our mere millionaires:
>
https://www.forbes.com/sites/korihale/2022/10/25/millionaire-status-is-on-the-rise-with-52-million-people-joining-the-club/
>
There are 224 times more black millionaires in USA than the
top 19 countries of Africa combined.
>
Go stick your racism somewhere else.

 Disregarding any racism I would ask "how does a modern millionaire
compare with a millionaire of, say 20 years ago?
 2005 gold was in the $709.00 range and to day's price is ????
 

Good point.
Or in my employee's easily remembered rhyme:
Roses are red.
Violets are blue.
Taxation is theft.
Inflation is, too.
--
Andrew Muzi
am@yellowjersey.org
Open every day since 1 April, 1971