Keep shopping they say -- But is this why sales tax collections are up?
They are, and this morning I saw a headline saying "Special sales tax revenue expands," and the article noting that "[s]ome might question whether the nation's economy is headed up or down, but in Columbia County there's no doubt that sales tax revenue is skyrocketing."
"Keep shopping!'' a county commissioner said upon seeing the report.
But is this behind the increase? No, and while we all enjoy the increased sales tax revenues for our local SPLOST projects, what America really needs is perceived stability in the Middle East, less speculation in the oil market, and a resolution of the Yukos situation in Russia.
The extra sales taxes are coming from the escalation in gas prices, not that much more shopping at Wal-Mart, according to Bill Shipp on this past week's The Georgia Gang.