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  1. #1
    What's the word? Rhia7's Avatar
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    Retailers want Tax-Free Shopping Days
    Everybody wants a slice of the stimulus pie :

    Retailers Ask Obama For Tax-Free Shopping Days to Spur Spending
    ~Rhia7 -- Remember the 7
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  2. #2
    Antisocial Media Expert ProWebAddict's Avatar
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    Hmmmm.

    Saving 7% isn't going to make me want to splurge but I guess it would work for some people.

    I guess there's still hope for me to get my credit card balance bailout?

    I can dream can't I?

  3. #3
    What's the word? Rhia7's Avatar
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    Quote Originally Posted by ProWebAddict
    Hmmmm.
    I guess there's still hope for me to get my credit card balance bailout?
    How about all credit card debt forgiven?
    [Keep dreaming ]
    ~Rhia7 -- Remember the 7
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  4. #4
    ABW Ambassador jodyq's Avatar
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    LOL I have tax free shopping days here in Oregon!
    Wear Short Sleeves!!! Support the right to bare arms!

  5. #5
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    The problem with the bailout is that tax payers have no .

    The problems we have exist for one reason:

    We are prisoners of our Culture. We believe in tooth fairies.

    Life is a quid pro quo arrangement ... the people who want bailout money,
    want the quid, but not the quo ... I can hear the ever increasing cachophany of screams as we approach January 20. "Save me oh great Obama-mama."

    Kind of reminds you of the Titanic, dosen't it?

    On the other hand, the person leaving the problems behind will be camped out in a toney suburb of Dallas. The former oh great "Weapon of Mass Destruction," will have to navigate life with much less personal security.

    I figure that when at least 5 BILLION people on the planet hate your guts,
    the psychic toll knowing that anywhere you go you could be eliminated will eat him alive, second by second.

    Karma is such a wonderful thing.

  6. #6
    Full Member TerriFalcone's Avatar
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    Retailers get a bailout? Not a prayer. Nobody helped Gimbels or Alexanders or Woolworth when they gave up the ghost. I will be sorry to see Macy's fold because of how I view them personally but subsidize them? Sorry, not me. Oh No! Will this be the end of Macy's Thanksgiving Day Parade? Geez not the Walmart Thanksgiving Day parade? Maybe I need to buy something from Macy's ...TODAY !
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  7. #7
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    This has to be the most ill-conceived proposal ever. Get 50 states to agree to work with the feds to remove taxes? I am sure they will all agree on everything!

  8. #8
    ABW Ambassador Boom or Bust's Avatar
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    Bazaar! Shoppers are taxed by the states and local municipalities, not by Obama...



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  9. #9
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    Quote Originally Posted by ProWebAddict
    Hmmmm.

    Saving 7% isn't going to make me want to splurge but I guess it would work for some people.

    I guess there's still hope for me to get my credit card balance bailout?

    I can dream can't I?
    The purpose of this is not so much to encourage consumer spending as it is to save the retailers money. I believe that the stores would still charge us sales tax and pay it to their respective states but would be reimbursed the money by the government.

    It is unlikely the government will go for this, they are extremely deep in debt as it is.

    EDIT: Sorry, ProWebAddict, I read the article wrong. You are right, the consumers would not have to pay the sales tax on those days. The government would reimburse the stores the sales tax money they lost. It wold appear that the stores would still pay sales tax to their respective states as usual.

    The stores that would see a large increase in sales from this would be the stores like Best Buy or funiture stores that sell producuts that are higher priced. The consumer would save money on products like these because the high price would result in high sales tax.

    I still do not think the government will go for it.
    Last edited by nobugs; December 27th, 2008 at 02:40 PM.

  10. #10
    ABW Ambassador Boom or Bust's Avatar
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    So taxpayers (who still have income) pay the retailer (through fed taxes) out of the goodness of their hearts?



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  11. #11
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    Quote Originally Posted by Ed Byerly
    So taxpayers (who still have income) pay the retailer (through fed taxes) out of the goodness of their hearts?
    I am sorry, Ed, I misunderstood the article. See the edit in my post.

  12. #12
    Outsourced Program Manager TrishaLyn's Avatar
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    Quote Originally Posted by jodyq
    LOL I have tax free shopping days here in Oregon!
    Yep - 365 of them! In fact, the present I planned on getting for my brother is a bit expensive, so I waited until coming up here to Eugene to visit in-laws this week before buying it so I could save a bit with not paying tax. It's nice to shop here on visits and not pay the 8.75% I usually have to down in the SF Bay Area

    It's incentive enough for some people... saving anything is incentive enough sometimes. And if you spin it right, the average person will totally buy into it. With the obvious exceptions of Alaska, Oregon, Montana, Delaware, & New Hampshire that don't charge sales tax on purchases. I can't say if it's a good idea or not since, of course, the costs and any negative repercussions would have to be weighed first, but it's definitely not a bad idea to toss out there.

  13. #13
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    > "Retailers Ask Obama For Tax-Free Shopping Days to Spur Spending" <

    Well, of course the national retailers federation (which primarily represents mega-retailers) would love to have three 10-day periods free of sales tax. The idea that the US government would reimburse states for the lost sales tax revenue is interesting -- but the government's track record on such promises is nearly 0%. (Consider the "No Child Left Behind Act," which forced billions of dollars of new spending on states and local school districts; Congress pledged full federal funding for the costs imposed by NCLB, but never followed through with the money).

    But just imagine the bookkeeping nightmare for smaller retailers. And imagine the potential for abuse, and the cost (and likely low success rate) for states to audit retailers. Collecting sales tax during some periods but not others, during a single sales-tax reporting period? How many receipts would end up being back-dated?

    I would certainly expect that if there were 10-day "sales tax holidays," then some consumers would plan to reschedule their purchases of big-ticket items (cars, HDTVs, computers) to take advantage of these tax-free periods, but I don't think it would bring in many new sales (although it might shift a "meaningful" amount of sales dollars from online retailers to local retailers). In fact, the idea is likely to be BAD for big-ticket-item retailers, because it means delays in purchasing and quite possibly lost sales: some consumers who 'delay' their purchase will recognize that they don't really need to buy it; others might 'accidentally' spend some of the money on other things and no longer have the money in hand to make the bigger purchase. Conversely, if the goal is to persuade consumers to accelerate a planned purchase to take advantage of a sales-tax holiday, it is likely to lead many consumers to over-extend their credit, which would make things worse.

    (I wrote some more, but it got too political.)

    The "real sales-tax solution," as we've discussed on ABW many times before, is the imposition of a national sales-tax collection and reporting system, which would prevent individual states and online retailers from taking advantage of varying tax rates. Depending on how such a system were implemented, it might create many new problems, but nothing else (apart from abolition of sales taxes) is going to really resolve the unfairness of the current system.

  14. #14
    MasterMike HardwareGeek's Avatar
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    I can't wait to see how much taxes we all pay come 2010.

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