FILE PHOTO -- Shoppers at the Target store in Chandler. [Tim Hacker/ Tribune]
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I certainly am not getting the sense that folks have dramatically increasing confidence in the economy. There are still far too many uncertainties to be optimistic about the financial state of the Country.
I think a lot of people are waiting for the "double dip" part of the recession to hit.
Revenues are down after what had been record growth in the past several months. There is always record growth just before a Presidential Election. How Strange ???
Tax revenues should look better next year when Amazon starts reporting and collecting AZ sales tax (Jan 2013). Even though there is a line on the state income tax form to report taxes due on Internet purchases, my guess is that most AZ residents are massively under-reporting Internet and mail order purchases they did not pay taxes on. Since increasing amounts of holiday purchases are made online, this should help.
wasn't the tax cuts for the wealthy supposed to bridge the gap in spending in down times? what about the tax breaks for the corporations? they gave the money to the wrong group. as a consumer driven society, the consumers should have got the tax breaks.
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