Jan 30 2008
Burr Calls for Sales Tax Holiday
WASHINGTON – U.S. Sen. Richard Burr wants a national sales tax holiday to goose the ailing economy — figuring discount prices would do the nation’s cash registers more good than rebate checks.
Reaction to his idea ranged from “crackpot” to it-ain’t-gonna-work, as economists said sales tax holidays don’t inspire consumer spending so much as change the date that shoppers are pulling out their wallets.
I have to go with the naysayers on this one. A moratorium on sales taxes aren’t going to make people jump out of their beds and run to the store to spend lots of money. Sales taxes are a very small portion of the price you are paying when you buy something. Eliminating them won’t be enough to make a difference to anyone unless you are planning on going out and buying a really expensive item like a car or something.
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