Not A Great Day – But Do Those Who Need To Pay Any Attention
By: Doug Busselman, Executive Vice President
Yesterday was not a red-letter day in the department of good news. The reports regarding our economic progress brought out that the numbers through April are still going down. Dropping sales is an indication that people probably don’t have the money to spend. A different account for this update, coming from southern Nevada zeroed in on the bigger price-tagged purchase items especially off.
Given the trends of this indicator and added with the other benchmarks which are tracked, (perhaps the 11-plus percent unemployment rate) we might eventually get the idea that those business enterprises, still in business, might not have a lot of extra cash laying around to pay for those tax increases that are coming our way.
This excellent piece by Geoffrey Lawrence of the Nevada Policy Research Institute offers a look at how the July 1 government-mandated minimum wage increase will not be any helping hand for employees at the lower level of the wage scale.
Yesterday’s action by the U.S. House, supported by “Yes” votes for passage, by two of Nevada’s Congressional members (Congresswoman Berkley and Congresswoman Titus) could be the start of an even worse economic disaster. Should the U.S. Senate go along and pass the Cap & Tax legislation and President Obama sign it (as we would guess a very likely action on his part) we would get even more of a sledgehammer to our crumbling financial foundations as detailed here.
The unfortunate fact is that those who are continuing to do the damage seem to imply that these actions are for our good. They don’t seem to be slowing down because they believe it’s what they have to do in our interests. The facts of their “treatments” killing us seems only to spur them on for more of the same.
Yesterday was not a red-letter day in the department of good news. The reports regarding our economic progress brought out that the numbers through April are still going down. Dropping sales is an indication that people probably don’t have the money to spend. A different account for this update, coming from southern Nevada zeroed in on the bigger price-tagged purchase items especially off.
Given the trends of this indicator and added with the other benchmarks which are tracked, (perhaps the 11-plus percent unemployment rate) we might eventually get the idea that those business enterprises, still in business, might not have a lot of extra cash laying around to pay for those tax increases that are coming our way.
This excellent piece by Geoffrey Lawrence of the Nevada Policy Research Institute offers a look at how the July 1 government-mandated minimum wage increase will not be any helping hand for employees at the lower level of the wage scale.
Yesterday’s action by the U.S. House, supported by “Yes” votes for passage, by two of Nevada’s Congressional members (Congresswoman Berkley and Congresswoman Titus) could be the start of an even worse economic disaster. Should the U.S. Senate go along and pass the Cap & Tax legislation and President Obama sign it (as we would guess a very likely action on his part) we would get even more of a sledgehammer to our crumbling financial foundations as detailed here.
The unfortunate fact is that those who are continuing to do the damage seem to imply that these actions are for our good. They don’t seem to be slowing down because they believe it’s what they have to do in our interests. The facts of their “treatments” killing us seems only to spur them on for more of the same.
Posted by Doug Busselman at 6/27/2009 5:09 AM 
Categories: Economy
Tags: Unemployment Nevada Sales Tax Report Congress
Categories: Economy
Tags: Unemployment Nevada Sales Tax Report Congress
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