Walmart February numbers = disaster

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Jan. and Feb. numbers for Walmart are a disaster. Did the payroll tax change do it?? Many Walmart customers are a good indication of what is about to happen economic wise in certain areas. Yet here in NYC resturants that are worth visting are booked solid. I wonder if roll backs are next at Walmart. wink
 
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It's the delay in tax refunds IMO. Most of the tax refunds are spent/consumed. Late tax refunds will catch up and mute some of the payroll tax holiday offset.
 
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Plus Amazon is owning all brick and mortar retailers. The supply chain model of "stores" is slowly going away; more and more people buy semi disposable goods online. Look at Best Buy, Circuit City, Staples/Office Depot etc.
 
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People need to think of the payroll tax change as getting the contribution rate back to where it was and needs to be to have a chance of keeping SS funded well into 2000 century. Although it is a regressive tax and hurts poor people the most.
 
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Originally Posted By: Donald
People need to think of the payroll tax change as getting the contribution rate back to where it was and needs to be to have a chance of keeping SS funded well into 2000 century. Although it is a regressive tax and hurts poor people the most.
What difference does that make? When a person sees a smaller paycheck they spend less. Regardless of the spin about how it came about.
 
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Between the taxes going up and fuel prices going up, I would bet that people are spending less in other places out of neccesity.
 
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Originally Posted By: morepwr
Between the taxes going up and fuel prices going up, I would bet that people are spending less in other places out of neccesity.
.. Exactly. We may well see another contraction in the first quarter.
 
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I don't necessarily subscribe to this theory but read that those in the higher income brackets have "recovered" economically while the middle and lower classes are still living in a recessionary economy. Explains why high-end restaurants are busy but Walmart is not.
 
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Originally Posted By: Donald
People need to think of the payroll tax change as getting the contribution rate back to where it was and needs to be to have a chance of keeping SS funded well into 2000 century. Although it is a regressive tax and hurts poor people the most.
That's the "tax raiser" party's SPIN on it all right.
 
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Taxes on the middle class will have to go up too. There is just not much room to avoid it. It's a matter of priorities and you can't have SS and other social safety nets and expect not to pay for it. We've been at war for the last 10 years and it has to be paid for.
 
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Originally Posted By: Donald
People need to think of the payroll tax change as getting the contribution rate back to where it was and needs to be to have a chance of keeping SS funded well into 2000 century.
Good luck with that: I know I have cut back on spending since the 1st. The lessened paycheck sure didn't help. My boss said to everyone (only half jokingly) not to complain to him about the lower number on the checks.
 
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It gives me the whim whams to dwell on the fact that we are a service economy,no longer an industrial manufacturing based economy. That the economy lives or dies on consumer goods purchases. :?
 
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Originally Posted By: buster
Taxes on the middle class will have to go up too. There is just not much room to avoid it. It's a matter of priorities and you can't have SS and other social safety nets and expect not to pay for it. We've been at war for the last 10 years and it has to be paid for.
So once again the middle class gets to pay for it all. The "poor" have no skin in the game and get my money. The "rich" can shelter the $$ and not pay taxes. So the average family gets the bill. I think we should do away with all taxes, make SS an opt-in program you do at 18 or 21 and make a national tax on all purcahses. That way everyone has skin in the game and what you pay is directly porportional to what you spend. The poor buy cheap stuff and pay little. The middle buy average stuff and pay an average rate. The rich buy expensive stuff and pay a large rate.
 
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Originally Posted By: NHGUY
But they are buying new vehicles in record numbers.
FALSE. The numbers that the industry gives out are actually not cars sold but in fact cars "shipped to dealers" . This makes it look like sales are up but if you take time to visit your local dealer lots they are literally BULGING with new vehicles sitting unsold.
 
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I saw on the news a few times last year the average age for cars in the USA is 11 years old... which is complete bull [censored]. Car manufacturers and dealerships are spending big $$$ buying advertising 'air time' so when they want to push an agenda (convince people they need a buy a new vehicle). And the general manager /owners of TV stations want to conveniently push the 11 year old vehicle car stories. Higher fuel prices = higher prices at any retail store / supermarket.
 
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Originally Posted By: andyd
It gives me the whim whams to dwell on the fact that we are a service economy,no longer an industrial manufacturing based economy. That the economy lives or dies on consumer goods purchases. :?
In 20 years the name of the USA will be changed to Naftaville.
 

JHZR2

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consumer choices have driven enough manufacture of their widgets elsewhere that they have offshored their own jobs. As retail wage slaves at best, how can they buy even the junk sold at walmart?
 
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