The idea that all the tax cut spending at Walmart will just go back to China is a fun rhetorical device, but the truth is that the actual selling price of the good to the retailer is only a fraction of the final sale price. Most of the money will stay right here in the good ole US of A!
So let’s get real. That money will do a lot of good! My brother-in-law’s grandfather will be able to keep his job as a greeter at WalMart, and my 17 year old nephew will only get his hours working as a part time stock boy at Best Buy cut from 16 to 10.
And my mortgage broker will be able to keep his new job. “Welcome to Burger King, may I have your order please?” He may not be able to pay his mortgage any more, but now that he and his wife and 4 kids live with his in laws in their 2 bedroom condo, they’ll be able to help out with their mortgage.
And that’s good for America!
Join the conversation and have a little fun at Capitalstool.com. If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.
I hope no one squanders this windfall on silliness like rent and food – you can always buy a high definition, big-screen plasma t.v., live in the box, and beg for food.
That way everyone will be able to keep up with the true American essentials of Britney, American Idol, and the Superbowl.
giving us 1% of GDP will probably help about 1% of those in trouble actually avoid it.
whatever happened to using the money to repair bridges or improve infrastructure?
Only 365 days (approximately) until we can say “a-buh-bye now” to Bush and Cheney!
“Only 365 days (approximately) until we can say “a-buh-bye now” to Bush and Cheney!”
That’s still too far away.