Biden Tax Hike (Read 920 times)

hvybarrels

Biden Tax Hike
« on: May 16, 2024, 10:35:52 PM »
Biden is calling it tariffs, but that's just another word for tax and we are the only ones who end up paying when the government raises taxes.

From https://apnews.com/article/biden-china-tariffs-electric-vehicles-evs-solar-2024ba735c47e04a50898a88425c5e2c

Quote
Under the 301 guidelines, the tariff rate is to double to 50% on solar cell imports this year. Tariffs on certain Chinese steel and aluminum products will climb to 25% this year. Computer chip tariffs will double to 50% by 2025.

For lithium-ion EV batteries, tariffs will rise from 7.5% to 25% this year. But for non-EV batteries of the same type, the tariff increase will be implemented in 2026. There are also higher tariffs on ship-to-shore cranes, critical minerals and medical products.

The new tariffs, at least initially, are largely symbolic since they will apply to only about $18 billion in imports. A new analysis by Oxford Economics estimates the tariffs will have a barely noticeable impact on inflation by pushing up inflation by just 0.01%.

The last paragraph was for the idiots who still believe everything the government and media tells them.

Between this and copper hitting all time highs if you are thinking about getting that solar charging system you'd better hurry up!

https://schiffradio.com/tariffs-and-inflation-are-taxes/
Stop blaming lazy people. We didn’t do anything.

Jaco808

Re: Biden Tax Hike
« Reply #1 on: May 17, 2024, 12:27:02 PM »
Protect USA companies, no to China.   

changemyoil66

Re: Biden Tax Hike
« Reply #2 on: May 17, 2024, 01:44:27 PM »
Chinese EV's will be taxed 100% as well.  They have lots of better EV choices over there. I mean, I'm sure they stole Tesla's tech due to Tesla's being made there.  Then created their "own".

But isn't the point of an EV to protect the environment?  So if a company makes a better product, whey not bring it over? Guess it's more about $.

hvybarrels

Re: Biden Tax Hike
« Reply #3 on: May 17, 2024, 05:46:43 PM »
Protect USA companies, no to China.

Maybe we can hire another 80k IRS agents and direct tax people who refuse to buy American products that don't exist
« Last Edit: May 17, 2024, 05:54:35 PM by hvybarrels »
Stop blaming lazy people. We didn’t do anything.