Friday, December 26, 2008

The Sharks are Circling

... they can smell $1T worth of blood in the water.

Here a shark.
The country's largest retail trade association asked President-elect Barack Obama Tuesday to add a series of sales tax-exempt shopping days to a coming economic stimulus package in an effort to revive consumer confidence and spur spending.

The National Retail Federation called for three periods of sales tax-free shopping that would last 10 days each in March, July and October 2009. The trade group estimates that it would save consumers about $20 billion, or $175 per family.
There a shark.
The Renewable Fuels Association, the industry lobby, is seeking $1 billion in short-term credit from the government to help plants stay in business and up to $50 billion in loan guarantees to finance expansion. The lobby would also like Congress to ease the 10% limit on how much ethanol can be added to gasoline for conventional cars and trucks -- never mind the potential damage to engines from such an unproven mix.
Everywhere a shark, shark!


Rose said...

Where's it gonna end? Where's my piece? Can I just default on all my debts? Mortgage? Car?

captcha: monio

Anonymous said...

I'm not sure what sales tax the president might be able to lift... there's no federal sales tax. Or are all the state taxes what they have in mind, screw (what's left of) federalism?

More ammunition for the Fair Tax... stop using the tax code for social engineering.