Shoppers save at the expense of the state
Despite the state’s money troubles, the tax-free holiday went on without a hitch this past weekend. It was a relief for not only the consumer, but for many slumping retailers who profited.
Folks headed to stores by the thousands to take advantage of the tax free holiday weekend.
“We like to refer to it as controlled chaos. It was very hectic,” said Jesse Tew of Best Buy.
On the list of big sellers… “A lot of clothing and a lot of electronics,” said Matt Merritt of Target.
The annual tax holiday was created to help families prep for back-to-school.
“You can save a lot of money that could go toward the tax dollar, with this case you can save forty dollars that was money you could spend somewhere else that is needed,” Tew said.
“With UNCW being so close to us we actually have two hits, we have tax free and then we have this weekend as well because they move into their dorms on Saturday,” Merritt added.
The truth is, the consumer’s gain is the state’s loss.
Over the weekend, the state lost millions and with the state facing a budget crisis, some thought tax-free weekend would be on the chopping block.
State Representative Carolyn Justice says even though the loss of revenue is significant, more money spent can only benefit the economy in the long run.
The annual sales tax holiday has been around since 2002.
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