Jackson sales taxes up first six months

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Jackson sales taxes up first six months

Wednesday, September 1. 2010

While economists debate whether or not there will be a “double-dip” recession this fall, for Jackson County the first six months of 2010 appears to have seen some recovery.

Sales tax revenues to the Jackson County government were up for the first half of 2010 by 9.2 percent over 2009.

For the year, Jackson County has seen revenues of $2.6 million in sales tax. The county budgeted $5.2 million in sales tax income for all of 2010.

Those results indicate that retail sales rebounded during the first half of the year, but many economists believe the overall economy is slowing and that another recessionary dip will happen this fall.

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#1 Hoschton number cruncher on 09/02/10 at 05:43 AM [Reply]

I would be skeptical of saying "retail" sales are showing signs of recovery. The auto industry had a large boom in sales the first half of this year. The sales tax revenue from $25,000 cars is significant. Those sales are now history and the most recent data shows car sales plummeting. Look at Government Motors CEO bailing out last month, he saw it coming.

Commercial real estate loans are about to break many local banks, unemployment/underemployment is continuing to grow, housing is going no where, consumers are still in debt beyond sustainable levels, local governments (city, county, state) are bloated with employees, and a Federal Government that can't seem to stop borrowing and spending all lead to The Greatest Depression.

Bottom line is, the last half of this year will see less sales tax revenue. If you think starving wolves surrounding you in the wilderness is a bad dream, wait till you see your governments circling around your dwindling pocket book.

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