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re: Who pays the tariffs?
Posted on 2/24/26 at 3:51 pm to Harry Caray
Posted on 2/24/26 at 3:51 pm to Harry Caray
quote:What is the point you are trying to make? Legitimately curious.
Whereas with top level tax brackets being over 90% this country grew and thrived at unprecedented and since unmatched levels. Curious.
1
Posted on 2/24/26 at 3:53 pm to GumboPot
quote:
I really wish people would be as disgusted with the income tax as much as they are with with tariffs.
I am disgusted with all of it. What equally disgusts me is there are many in the GOP who cannot even admit tariffs are a tax.
Posted on 2/24/26 at 3:53 pm to Pragmatist2025
quote:That income taxes are more effective/go further for the country's interest when the ultra wealthy have to pay more from the top bracket.
What is the point you are trying to make? Legitimately curious.
Posted on 2/24/26 at 3:57 pm to Harry Caray
Posted on 2/24/26 at 3:57 pm to Harry Caray
quote:I’d prefer a consumption tax. Then no one, including the ultra wealthy, could avoid paying their ‘fair’ share.
when the ultra wealthy have to pay more from the top bracket
Posted on 2/24/26 at 3:58 pm to Taxing Authority
The consumer always pays for tariffs
Always.
That has never NOT been the case.
Always.
That has never NOT been the case.
Posted on 2/24/26 at 3:59 pm to Harry Caray
quote:
So how does that compare to the 2020s?
17% effective federal tax when top bracket was 91%.
25.9% effective federal tax rate in 2024.
Posted on 2/24/26 at 4:01 pm to Roaad
quote:
The consumer always pays for tariffs Always. That has never NOT been the case.
Estimates between 4-18 percent are out there on exporters eating the cost of the tariffs.
Posted on 2/24/26 at 4:04 pm to BBONDS25
Eating the cost. . 
Would love to see that "paid for" study.
Would love to see that "paid for" study.
Posted on 2/24/26 at 4:11 pm to Taxing Authority
quote:
Taxing Authority
Informative, data driven post with links to research. We need more of that around here
Posted on 2/24/26 at 4:13 pm to Roaad
quote:
Eating the cost.
Only for tariffs, apparently. Post a topic about raising the wage of a fast food worker and they immediately grasp the consequences.
Posted on 2/24/26 at 4:13 pm to m2pro
quote:Factually this occurred when nat'l unions became too powerful and took over control of our manufacturing, and transportation industries, along with many other national, state and local entities in the country.
It's a long-game, for sure.
The blame is on who outsourced all our labor and forced us to do so much importing of goods.
Those who sold us out many decades ago are to blame.
Posted on 2/24/26 at 4:15 pm to BBONDS25
quote:
25.9% effective federal tax rate in 2024.
Holy crap. Really?
The IRS is getting really good at collecting taxes.
Posted on 2/24/26 at 4:17 pm to BBONDS25
Canadian site that sells direct to US adds 30% at checkout to US orders and eats 10%.....
U.S. Customers . . . . Please note that there is now a 35% tariff on Canadian goods. With brokerage fees, this adds about 39-40% to the price -- payable before entering the U.S.... We try to help by charging only 30%, and paying the remaining 9-10% ourselves... Also, there is no sales tax on orders shipped from Canada... This exemption can further reduce your extra cost to 20% -- depending on your location. It is unknown if this tariff will be reduced in the future.
U.S. Customers . . . . Please note that there is now a 35% tariff on Canadian goods. With brokerage fees, this adds about 39-40% to the price -- payable before entering the U.S.... We try to help by charging only 30%, and paying the remaining 9-10% ourselves... Also, there is no sales tax on orders shipped from Canada... This exemption can further reduce your extra cost to 20% -- depending on your location. It is unknown if this tariff will be reduced in the future.
This post was edited on 2/24/26 at 4:18 pm
Posted on 2/24/26 at 4:17 pm to Roaad
The real issue, I think, is continuity. You're not going to get really big nearshoring or domestic production in the next 2-3 years. You'll get a success story here or there, but not enough to justify the upheaval in the eyes of the public. And you're not getting the rebalancing advertised (which isn't surprising).
Even if those things are going to eventually happen (which is generous) - what's the realistic chance we string together enough mixed party leadership to see the meaningful results? My best defense to that is that Biden kept some of the tariff structure (a lot on China) and it's a proof of concept that the Dems may be more willing to leave some of this stuff in place now that Trump has cracked open the seal on it.
But, that's a gamble that could come at high political cost over the next 3 years if the efforts are unraveled AND we lose.
Even if those things are going to eventually happen (which is generous) - what's the realistic chance we string together enough mixed party leadership to see the meaningful results? My best defense to that is that Biden kept some of the tariff structure (a lot on China) and it's a proof of concept that the Dems may be more willing to leave some of this stuff in place now that Trump has cracked open the seal on it.
But, that's a gamble that could come at high political cost over the next 3 years if the efforts are unraveled AND we lose.
Posted on 2/24/26 at 4:21 pm to BBONDS25
quote:As we got more settled into our careers, that effective rate starting creeping higher than 20%. The extra ~5% for SS/MC cherry on top had me wanting to join a militia. I have told my children for the last ten years…buy as many guns and as much silver as possible. I don’t know if that will really ever matter, but it sounds like a cool ‘daddy-wisdom’ thing to say.
25.9% effective federal tax rate in 2024.
Posted on 2/24/26 at 4:23 pm to Harry Caray
quote:
So how does that compare to the 2020s?
17% effective federal tax when top bracket was 91%.
25.9% effective federal tax rate in 2024.
You gonna respond or continue looking stupid and illiterate like you normally do
Posted on 2/24/26 at 4:24 pm to Taxing Authority
The consumer and Wall St pay for the tarrifs. Now, ask yourself who pays for free trade. Middle American labor pays the vast majority. You can't have free trade with countries that do not have your regulatory environment and standard of living. In that scenario, all your doing is exporting labor.
Rodo
Rodo
Posted on 2/24/26 at 4:27 pm to Harry Caray
quote:
That income taxes are more effective/go further for the country's interest when the ultra wealthy have to pay more from the top bracket.
It doesn’t matter what they get taxed because the government will just spend it all and then some.
When taxed too much the people they used to hire are now out of work and rely on government.
It’s a great way to make socialism a reality which you are probably for.
Posted on 2/24/26 at 4:35 pm to BBONDS25
quote:
Estimates between 4-18 percent are out there on exporters eating the cost of the tariffs.
Which is why it's frustrating that the idea of the tarriff money going back to companies is being tossed around. If it goes to anyone , it should be the citizens of the US but goodluck figuring all that out.
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