Wednesday, August 6, 2008

Tax Cut Spurs Economy

Makes you wonder why they don't abolish the damn thing, no?

Of course, we know the looting, agenda-pushing reasons why now.


"Back-to-school shoppers drive sales

NEW YORK - Back-to-school shopping boosted US weekly retail sales the most since Dec. as 11 states suspended their sales tax.

Sales at stores open at least a year advanced 2.9 percent last week compared with a year earlier, the International Council of Shopping Centers said yesterday. For the month of July, they probably climbed 2 to 3 percent, the New York-based industry group said.

US shoppers are facing high gas prices, seven months of job losses, and the highest consumer inflation in almost three years. Many retailers schedule back-to-school sales around sales-tax suspensions, helping spur sales of books and clothing. Alabama, Georgia, Iowa, Louisiana, Missouri, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, and Virginia suspended their back-to-school sales tax, while Florida canceled its tax holiday this year because of state budget concerns. Massachusetts will suspend its sales tax on most items Aug. 16-17...."

Oh, we are getting a two-day break, yay!!!

I'm not buying a damn thing that weekend.

Also see: Massachusetts' Tax "Holiday"