The conversation

Lessons learnedExperience excerpt · English

As for progressive taxes they actually make it more difficult to earn more money even at a near …

… As for progressive taxes they actually make it more difficult to earn more money even at a near minimum wage. When I worked at a super store (Tesco) many years ago, If I worked a few hours overtime, I would go over income band for that month and it effectively made working that shift a waste of time. I am including my time to commute which was a 30 minute cycle and not wanting to have to stack onions. So I didn't bother working overtime as a result. Neither did many of my colleges. Granted I normally would get a check back at the end of the year from HMRC as I would have over-payed for the year, but when you are living month to month, I would always prefer the cash in my pocket as the end of the tax year is an eternity away in comparison.

Original discussionTariffs result in 10% laptop price hike in U.S. says Acer CEO516 source comments · at import
3

What was this responding to?

Parent context · original excerpt

CH

Tariffs are a tax on the low and middle class. Upper income people will be fine with a 10-25% increase in cost of things they purchase. Regular income taxes are progressive. Tariffs are not. There is a reason why rich prefer tariffs over a progressive income tax.

Full original

Community replies 0

No community replies yet. Add your perspective.

Replies from the source 3

Direct replies available in this import. Original-language excerpts.

3V

Here's the fun part if you are not wealthy. You would pay both anyways. It's a rigged game, if anything they would use tariffs to cut the progressive rate not the base tax rate anyways.

Full original
HN

> This is assuming you are buying goods that are outside of the country. Most consumption weekly is things like food, drink, disposable items and not things like computer hardware which is refreshed every few years normally. Trying really hard to refrain from a snarky response, because this analysis is 100% incorrect. First, where do you think a substantial portion of food, drink and disposable items in the US comes from? More importantly, though, the entire economic rationale of import tariffs is to allow domestic producers to charge more. It doesn't matter if you just "buy American", because if the competition that American producers face is now 10% more expensive, these producers will raise prices. Or, if more charitably, foreign goods were making American-made products uncompetitive, American producers can now come in and make those goods, but only at the higher prices . Again, the e…

Full original
MP

~98% of the United States' natural gas imports come from Canada, as well as ~60% of our crude oil, which makes up ~10% of our natural gas demand and ~25% of our crude oil demand. In addition ~25% of our uranium imports come from Canada. This isn't even getting into stuff like steel and aluminum, and other core manufacturing goods. Good luck opting out of all that to avoid the tariffs.

Full original
Continue on Hacker News

Respect different perspectives. Share concrete experiences.

Sign in to post, reply, repost, and quote.