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The PJ Tatler

by
Stephen Kruiser

Bio

April 12, 2013 - 6:10 pm

A tax by any other name

Retail sales contracted in March for the second time in three months and consumer confidence tumbled in April, a sign tax hikes early this year stole momentum from the economy.

Sales fell 0.4 percent in March, missing analysts’ expectations for a flat reading, Commerce Department data showed on Friday.

The data suggests consumer spending was considerably weaker in the first quarter than analysts previously believed, and many cut economic growth forecasts for the period.

The most pathetically amusing thing about this post is the headline: Retail sales point to flagging economic momentum.

I monitor the Reuters feed every day and although it’s an international news organization it has still be a big cheerleader for the Obama administration. Every less-than-depressing bit of economic news is trumpeted as a sign that all is well again. In fact, its reporting can be all over the emotional spectrum in just one news cycle. To any rational observer, this economy hasn’t had anything resembling momentum since Karl Rove was still a thing.

Yes, Virginia, elections do have consequences. So do tax hikes, no matter what you call them.

Stephen Kruiser is a professional comedian and writer who has also been a conservative political activist for over two decades. A co-founder of the first Los Angeles Tea Party, Kruiser often speaks to grassroots groups around America and has had the great honor of traveling around the world entertaining U.S. troops.

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All Comments   (4)
All Comments   (4)
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I think retail sales would contract even more if we didn't have such a robust underground economy. With so many people leaving the workforce, in order to keep up the illusion of <8% unemployment, it has to be the underground cash economy that is keeping things going.
Anyone we believes the economy has any momentum, other than down, is delusional.
1 year ago
1 year ago Link To Comment
If this retail index included places like Cabelas and Gander Mountain, its even worse than we think, because demand for firearms and ammo prop those 2 outlets up. Accordingly, many shoppers may be directing those reduced discretionary dollars to legitimate avenues of of firearms/ammunition acquisition not part of the sample of retailers.
1 year ago
1 year ago Link To Comment
Of the big household national retailers, Pennys, Sears, Kmart, Staples, Radio Shack, Barnes and Nobel and Best Buy have been on the chopping block well back into the bush tax cut era. The sizable list of national retailers that are already gone, all go back into the Bush tax cut era and great economic times. Kmart, a Sears holding, has been in and out of bankruptcy and acqusitions since the 70s.
1 year ago
1 year ago Link To Comment
"...a sign tax hikes early this year stole momentum from the economy."

For credibility, one has to look at the 'historic' data in conjunction. Generally speaking, historic data does 'not' validate any tax-consumer comsumption arguments -- just as it does not validate the tax-employment arguments. On consumer spending; if there was such validating data (and theres not), it would pale in comparison to the wealth gap and declining wages since the 80s. There are far to many variables involved to make generalized statements perpetuated as fact.
1 year ago
1 year ago Link To Comment
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