11% Bicycle Tax (penalty)

In an article on MSN money I noticed that, according to the Institute for Policy Innovation, the Import Tax (or duty) on foreign made bicycles is 11%. Our government, in an attempt to benefit American bicycle manufacturers, is charging an 11% tax on all imported bicycles.

For anyone purchasing a foreign made bicycle (which is just about everyone these days) you’re in effect being penalized by American bicycle companies that can’t compete with high volume low-price imports.

It could be worse, peanut butter of all things, has an Import Tax of 143%.

If all of this gets you down, and you decide to head to the local bar, remember that the government has also imposed certain “sin” taxes, one of which is $13.50 per gallon of hard-liquor. You may feel better if you have a beer instead; a six-pack only carries a tax of thirty-three cents.