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Posted by Mark Bole on March 16, 2008, 10:01 pm
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George Anthony wrote:
> Tax Rebate
> Now, if we spend that money at Wal-Mart, all the money will go to China, if
> we spend it on computers, most of the money will go to Korea or India.
> If we spend it on gasoline it will all go to the Arabs ... and none of
> these scenarios will help the American economy.
Who will pay, who will receive, the taxes on that spending and revenue?
Doesn't Walmart collect and remit state sales taxes? Do gasoline tax
receipts go overseas?
You could also contribute your rebate back to Bureau of the Public Debt
(Department G), thereby assuring the money is staying in the country of
origin, and take a charitable itemized deduction to boot...
> Currently it seems that these are the only businesses still left in the U.S
I'm ROTFLOL after that one...
-Mark Bole
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Posted by rlsusenet@NOSPAMPUHLEEZschnapp on March 17, 2008, 12:51 pm
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Mark Bole wrote:
> George Anthony wrote:
>> Tax Rebate
>
>> Now, if we spend that money at Wal-Mart, all the money will go to
>> China, if we spend it on computers, most of the money will go to Korea
>> or India.
>> If we spend it on gasoline it will all go to the Arabs ... and
>> none of these scenarios will help the American economy.
>
> Who will pay, who will receive, the taxes on that spending and revenue?
> Doesn't Walmart collect and remit state sales taxes?
Actually, the surprising answer is "often NOT"! Many Walmarts are built
with "tax increment financing". The local politicos usually cave to
Walmart's pressure. Believe it or not, the sales tax that they collect
does NOT get forwarded to the county. It goes to into their coffers.
This is one of the big reasons that Walmart can underprice Mom and Pop,
who don't have that kind of sweetheart deal.
This is true of Costco and Sam's Club, too.
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by dpb on March 17, 2008, 2:07 pm
Please log in for more thread options rlsusenet@NOSPAMPUHLEEZschnapp.org wrote:
...
> ... Believe it or not, the sales tax that they collect
> does NOT get forwarded to the county. It goes to into their coffers. ...
...
I know of places that have reduced/eliminated/other on real estate and
other taxes; I know of none that have not collected sales taxes at the
state level, anyway. I suppose some of the local-option sales taxes
might be rebated or cut in some jurisdictions or the fairly common
additional special-purpose levies added, but I know of nowhere where it
is allowed for them to collect and _keep_ what is purportedly a sales
tax. I can't imagine that every getting through a legal challenge that
would be sure to come.
imo, $0.02 (levied), etc., etc., etc., ...
--
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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
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Posted by rlsusenet@NOSPAMPUHLEEZschnapp on March 18, 2008, 1:01 pm
Please log in for more thread options dpb wrote:
> rlsusenet@NOSPAMPUHLEEZschnapp.org wrote:
> ...
>> ... Believe it or not, the sales tax that they collect does NOT get
>> forwarded to the county. It goes to into their coffers. ...
> ...
>
> I know of places that have reduced/eliminated/other on real estate and
> other taxes; I know of none that have not collected sales taxes at the
> state level, anyway. I suppose some of the local-option sales taxes
> might be rebated or cut in some jurisdictions or the fairly common
> additional special-purpose levies added, but I know of nowhere where it
> is allowed for them to collect and _keep_ what is purportedly a sales
> tax. I can't imagine that every getting through a legal challenge that
> would be sure to come.
>
> imo, $0.02 (levied), etc., etc., etc., ...
Google "tax increment financing". You'll be surprised. I also thought
that these big box stores only had property tax incentives. Not so.
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Paultry on March 16, 2008, 10:22 pm
Please log in for more thread options George Anthony wrote:
> Tax Rebate
> Now, if we spend that money at Wal-Mart, all the money will go to China,
If, as rumored, the rebates are being funded by a gracious
loan from China, it seems fitting that a grateful nation
should be willing to give at least a portion of it back.
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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