Retailers Want In on Stimulus Plan

[UglyCasanova]

link

Who the hell doesn't want in on the stimulus package?

 

[umbrella39]

Wonders how long before the American consumer will want in on some of this stimulus...

 

[frostedflakes]

Seems like a reasonable request, at least they're not asking for a bailout. Feds would reimburse state governments, though, wonder how much that would cost? The article says it would save consumers $20 billion, so I'd assume that means $20 billion in lost sales tax revenue that DC would have to divvy out to the states.

 

[nutxo]

LOL.

Give the taxpayers GCs to all the failing retailers :beer:

J/K

 

[mugs]

Originally posted by: umbrella39
Wonders how long before the American consumer will want in on some of this stimulus...

Probably about 6 months ago...

If you read the article though, this plan would benefit consumers.

This seems like a reasonable stimulus option. It's not a hand-out to companies, it's a tax break for their customers. I don't think the federal government could force states to participate, but what state wouldn't?

 

[Jeff7]

Free money for everyone!!!!!

 

[manowar821]

nevermind

 

[Bateluer]

The 8+ trillion spent on the various bailouts and stimulus packages would have been much better and more effectively used if it was divided amongst the American taxpayers, preferably with some strings to require a portion of it to pay off debt. I'm not going to run the numbers here as I don't think I have a calculator with that many digits on hand, but 8,000,000,000,000 divided by roughly 250,000,000 taxpayers comes to a fairly large amount of money per tax payer.

 

[bozack]

Honestly this doesn't bother me so much, however it kinda irks me that Saks is listed on this letter, if they do this, which I think they should...there should also be a stipulation that overpriced luxury stores such as Saks, Neiman, Bergdorf, Tiffany, Tourneau, Montblanc and others are excluded as well as any purchase deemed pure luxury (Jewelery, needless status items, ..etc)

And don't get me wrong, I have a penchant for buying useless expensive stuff, I just think that those companies rip people off enough by excessive pricing and no sales all in the name of maintaining their brands image...I would rather see them be forced have sales on their own instead of hoping for a tax break for their potential customers to drum up business...

And I also would want to see luxury cars, furniture stores, and restaurants....the average places fine as they usually run specials and sales and if they are still hurting then ok, but the Cabot Houses, Mercedes, and Morton's of the world really should look at running more sales before they come asking for any kind of assistance...

 

[BarneyFife]

I've walked into Niemans a couple years ago and wanted to buy some jeans. The sales people didn't even want to bother to help me because I guess I didn't fit into some profile of theirs. I walked over to Saks and made my purchase. Maybe if they were friendly and helpful to everyone during the good times, it wouldn't be so bad right now. Its pretty funny to see department store sales clerks act so arrogant.

 

[mugs]

Originally posted by: Bateluer
The 8+ trillion spent on the various bailouts and stimulus packages would have been much better and more effectively used if it was divided amongst the American taxpayers, preferably with some strings to require a portion of it to pay off debt. I'm not going to run the numbers here as I don't think I have a calculator with that many digits on hand, but 8,000,000,000,000 divided by roughly 250,000,000 taxpayers comes to a fairly large amount of money per tax payer.

I'm not sure what makes up that $8 trillion you're talking about, but many of the bailouts are not handouts. They're loans or investments. The government gets something in return, possibly (hopefully) more than it spent (when things turn around).

 

[bozack]

Originally posted by: BarneyFife
I've walked into Niemans a couple years ago and wanted to buy some jeans. The sales people didn't even want to bother to help me because I guess I didn't fit into some profile of theirs. I walked over to Saks and made my purchase. Maybe if they were friendly and helpful to everyone during the good times, it wouldn't be so bad right now. Its pretty funny to see department store sales clerks act so arrogant.

I have heard of this and also have had it happen to me on a few occasions...most notably was when I was looking to buy a nice watch, went to one store (local chain) and was treated like a second class citizen...I walked out of there and bought it at another place that was much better...I was so happy when the first place went bankrupt, the owners fled back to india.

The sad thing is that I think alot of other people actually expect that kind of pompous arrogant service when going into those places...for me I just turn around and walk out, thankfully I haven't had it happen at Brooks which is why I like shopping there when I get the chance.

 

[Slew Foot]

And the states athat are already hurting for $$$ are going to make up the revenue how? ANd Im willing to bet that most people will just hold off on purchases until the tax free days and thus stores will not see a huge increase in revenue, as sales on tax free days will just steal sales from tax on days.

 

[mugs]

Originally posted by: Slew Foot
And the states athat are already hurting for $$$ are going to make up the revenue how? ANd Im willing to bet that most people will just hold off on purchases until the tax free days and thus stores will not see a huge increase in revenue, as sales on tax free days will just steal sales from tax on days.

I think the retail industry knows a thing or two about the behavior of their customers. They have a lot of data that shows them how people react to sales tax holidays. If selling something for a temporarily lower price was not a proven strategy, you wouldn't see so many retailers having weekly sales.

The tax holidays probably will shift some spending around, but it also leaves everyone with a little extra money, some of which may be spent.

 

[SoundTheSurrender]

What the fuck happened to letting the markets figure it out. We are just gonna throw money at everything now?

 

[WaTaGuMp]

Its a good thing people like Bush are smart enough to not spend 1 trillion dollars on a war so we at least have the money ready to help our economy.

 

[miketheidiot]

Originally posted by: SoundTheSurrender
What the fuck happened to letting the markets figure it out. We are just gonna throw money at everything now?

markets aren't always the best option

 

[Jiggz]

This was expected and anticipated when they approved the stupid "TARP" . The original version "Bailout" failed approval from congress that's why we came out with TARP, which is basically money for everybody. I bet you thought this was only on TV Cartoon series, heh heh heh . . .

 

[dmcowen674]

Originally posted by: UglyCasanova
link

Who the hell doesn't want in on the stimulus package?

This must be the trickle down economics Reagan promised us

 

[Pocatello]

All this stimulus means the government just print out more $$$, making the dollar worthless.

 

[Jaskalas]

Originally posted by: WaTaGuMp
Its a good thing people like Bush are smart enough to not spend 1 trillion dollars on a war so we at least have the money ready to help our economy.

Have you looked at how much we've spent in 2008 alone? The bailouts dwarf the war 7 times over.

 

[episodic]

If they took 1 trillion dollars and divided it among us - every man, woman, and child in America could get around a 3000$ check. That'd be a bail out.

 

[palehorse]

uhg.... the entitlement mentality is going absolutely haywire.

predictable...

 

[MovingTarget]

The markets aren't always the answer, but in the case of retailers, I'd say that without any sort of bailout, the market is fluid *enough* to be able to recover and/or adapt without bringing the country down in the process. Manufacturing, and especially heavy industry isn't so elastic or as resilient as the retail sector.

 

[Colt45]

piss on retail... one retailer fails, another will pop up selling $200 jeans, if there is a real demand.