The Sales Tax Connection

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Bailout potentially helps sales tax burden

Posted by salestax on February 4, 2009

I still haven’t read through the 250+ pages of the current bailout plan, but the CT governor sure has and has a good point here. 

I always though the tax breaks for people who buy boats and airplanes don’t really need them and the sales tax deduction that has been in place for the last several years only helps if you spend an enormouse amount of money each year on big ticket items (I bought 2 cars one year and still didn’t reach the limit).  It really doesn’t help the common person.

But this has some promise.  It’s a win/win – at least in the short term.  I can buy a new car, finance it, my state still gets it’s sales tax to invest in my local economy, the bank still gets interest to help them build back a business, and in the end, I get a car for the sticker price… nice. 

Check out the article here.


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