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January 30, 2005
Tax Holiday Week
Tomorrow begins a rather interesting New York phenomenon. The Tax Holiday on shoes and clothing, but only those items under $110 retail. During this week the state waives its sales tax. Counties and local governments have the option to participate or not. Given that the combined sales tax rate is around 8-8.5%, depending on which line you cross, that's sort of like having a sale. Yet if the store had a sale advertising 8% off everything, would that really inspire shopping? Why then does the tax holiday inspire shopping? Is it because we know it's the government's cut we're saving? Just a little something I wonder about....
Posted by cageyer at January 30, 2005 09:16 AM