[Pugchief]

Originally Posted by CybrSage

VAT is not charged on things made locally, it is charged on things not made locally.
VAT, in the EU is not charged on things made in the EU, it is on things made in the US and other non-EU countries.
A 20% VAT is simply a 20% tariffs that the consumer pays directly.

Not only is this inaccurate as Bill pointed out, the truth is actually pretty much the opposite:
European_Union_value_added_tax_Thirteenth_Directiv e

[Pugchief]

Originally Posted by jimjamuser

RICH to CHEAT on their income taxes.

Do you have some documentation to back up your persistent assertion that the wealth cheat on their taxes at a higher rate than anyone else? Otherwise, it's just your fantasy.

[jimjamuser]

Originally Posted by Pugchief

Do you have some documentation to back up your persistent assertion that the wealth cheat on their taxes at a higher rate than anyone else? Otherwise, it's just your fantasy.

The Washington Post June 1, 2017 ......."Rich people are MORE likely to cheat on their taxes than poor or middle class people".

[Regorp]

Originally Posted by Arctic Fox

Well-thought-out tariff policy helping USA domestic production - not!

Airbus laughing all the way to the bank.

Many countries have charged us tariffs for years and we did not. Time for us to make money, too.

[Topspinmo]

Originally Posted by Bill14564

This is simply incorrect. VAT is charged at each step of production including the final sale.

Charging VAT on US goods overseas is equivalent to collecting State Sales Tax on foreign goods sold in the US. In both cases the taxing authority collects on the final sales and the consumer pays the tax.

Which drives up price of imported. You know that.

[Pugchief]

Originally Posted by jimjamuser

The Washington Post June 1, 2017 ......."Rich people are MORE likely to cheat on their taxes than poor or middle class people".

Here's the link to that article

Thank you for providing a source. In spite of the authors' conclusions, my interpretation is that they are:

1. Talking about the ultra-wealthy, not the kind of people you'd run into here inTV, and
2. The "cheating" involves using services to figure out how not to pay taxes. So is that cheating, or just using loopholes to avoid paying legally?

[Topspinmo]

Originally Posted by jimhoward

There was a recent survey that went viral which asked:

Would America be better off if more people worked in factories? To which 80% said yes.

Then it asked. Would you be better off working in a factory? To which 25% said yes.

There are something like 500,000 open manufacturing jobs in the US right now.

I love manufacturing. The problems are interesting, it requires excellence in every aspect of business, including engineering, quality, facilities, marketing, finance, IT, human resources. It takes entrepreneurialism, capital and labor.

But, I think there are a lot more people in this country that want the US to increase domestic manufacturing than that want to manufacturer things themselves. People want to buy US made products, they don't want to themselves make products. A generalization I realize.

“it requires excellence in every aspect of business, including engineering, quality, facilities, marketing, finance, IT, human resources. It takes entrepreneurialism, capital and labor.”

Near slave labor countries don’t those have expenses cause foreign business paid for it. They also steal or copy products with different name. Why business when overseas, now can we talk about EPA requirements importer don’t have to follow? Not fair trade why tariffs will equal plying fields. IMO anything coming from China should have 500% tariff and Mexico 200% due to wage and EPA standards they don’t have to meet.

[Topspinmo]

Originally Posted by Pugchief

Here's the link to that article

Thank you for providing a source. In spite of the authors' conclusions, my interpretation is that they are:

1. Talking about the ultra-wealthy, not the kind of people you'd run into here inTV, and
2. The "cheating" involves using services to figure out how not to pay taxes. So is that cheating, or just using loopholes to avoid paying legally?

Why we have 10,000 plus pages of exemptions for rich, rich law makers lawyers write tax laws so they can get out of paying their fair share. Most famous words for one of richest it world said “ my secretary pays more taxes than me”. His secretary don’t make that mush and don’t have army of tax lawyers getting her out of paying cause she can’t use the exemptions that rich can. Yes, there rich slum lords in villages that gets to deduct any expenses on rentals, but I can’t deduct my new roof I was forced to replace.

[Bill14564]

Originally Posted by Topspinmo

Which drives up price of imported. You know that.

Should foreign goods be sold in the US sales tax-free in order to not drive up the price of items imported to the US? The VAT is their equivalent of our sales tax.

[Bill14564]

Originally Posted by Regorp

Many countries have charged us tariffs for years and we did not. Time for us to make money, too.

Are you saying you believe the US has not charged tariffs until this year? Look up the Harmonized Tariff Schedule. Hundreds of pages of tariffs charged on items imported to the US.

[biker1]

No. His quote was essentially that his secretary pays a higher tax rate than him, not more taxes, two different things. The reason is investment income, such as capital gains, typically has a lower tax rate than W-2 income. It should since you are risking your money. Buffett makes his money from investment income.

Originally Posted by Topspinmo

Why we have 10,000 plus pages of exemptions for rich, rich law makers lawyers write tax laws so they can get out of paying their fair share. Most famous words for one of richest it world said “ my secretary pays more taxes than me”. His secretary don’t make that mush and don’t have army of tax lawyers getting her out of paying cause she can’t use the exemptions that rich can. Yes, there rich slum lords in villages that gets to deduct any expenses on rentals, but I can’t deduct my new roof I was forced to replace.

[Arctic Fox]

Originally Posted by Regorp

Many countries have charged us tariffs for years and we did not. Time for us to make money, too.

I think you misunderstand what a tariff is. It is a tax on the consumer, not a charge on the manufacturer.

If a tariff of 10% is imposed on imports then YOU end up paying 10% more for that item.

The US Government makes money; YOU don't. Within the US there is no net change.

[JMintzer]

Originally Posted by Topspinmo

Why we have 10,000 plus pages of exemptions for rich, rich law makers lawyers write tax laws so they can get out of paying their fair share. Most famous words for one of richest it world said “ my secretary pays more taxes than me”. His secretary don’t make that mush and don’t have army of tax lawyers getting her out of paying cause she can’t use the exemptions that rich can. Yes, there rich slum lords in villages that gets to deduct any expenses on rentals, but I can’t deduct my new roof I was forced to replace.

That quote has been misinterpreted for years...

[Topspinmo]

Originally Posted by biker1

No. His quote was essentially that his secretary pays a higher tax rate than him, not more taxes, two different things. The reason is investment income, such as capital gains, typically has a lower tax rate than W-2 income. It should since you are risking your money. Buffett makes his money from investment income.

No I heard words out of his mouth, he may of explained it later.

[Topspinmo]

Originally Posted by daniel200

Dollar Stores will disappear. $5 stores will replace them.

Don;t you mean 10 dollar stores, dollar store already 5 dollar store.