Happy New Year, one percenters | Arkansas Blog

Wednesday, February 22, 2012

Happy New Year, one percenters

Posted By on Wed, Feb 22, 2012 at 7:25 AM

The roundup of retailers' sales results in January pretty well tells the story of where the U.S. and its people are today.

High-end stores — think Saks — did great. Retailers catering to cost-conscious lower income people — think Walmart and Home Depot — didn't do so well.

Walmart has been holding down prices to get customers to spend. “We’ve seen the unemployment numbers come down a little bit, and that’s really good, but that hasn’t stopped the paycheck cycle,” said Charles M. Holley Jr., Walmart’s chief financial officer, referring to customers spending paycheck-to-paycheck.

Please note the word "paycheck." These are working people, scraping by, whose payroll tax deductions alone (but for the temporary reductions that President Obama had to fight to extend) put their effective tax rates up near those of billionaires whose earnings come from tax-exempt investments, capital gains and other favored revenue streams, as opposed to actual labor.

Tags: , , , , ,

From the ArkTimes store

Favorite

Comments (18)

Showing 1-18 of 18

Add a comment

 
Subscribe to this thread:
Showing 1-18 of 18

Add a comment

More by Max Brantley

  • North Little Rock mayor shows downtown plaza plan

    North Little Rock Mayor Joe Smith is presenting a plan to the City Council tonight for a downtown plaza meant to augment planned private developments and further enhanced downtown as a destination.
    • Sep 25, 2017
  • Attorney general asks for continued secrecy on execution drugs

    As expected, Attorney General Leslie Rutledge has asked the Arknasas Supreme Court for an "emergency stay" of a lower court ruling that the Correction Department must produce labels from one of the drugs used in executions.
    • Sep 25, 2017
  • Groups seek end to commercial collection of wild turtles

    Several environmental organizations to end commercial turtle collection in Arkansas.The harvests (more than 126,000 turtles from 2014 to 2016) are not sustainable and that, in turn, is damaging to ecosystems, the groups said.
    • Sep 25, 2017
  • More »

Readers also liked…

  • In Little Rock, Marco Rubio sells American exceptionalism

    This is Rubio's axiomatic answer to Donald Trump's insistence that he and he alone will Make America Great Again: America is the greatest, always has been.
    • Feb 22, 2016
  • Two plead in fraud of sheriff's office

    A former employee of the Pulaski County sheriff and a North Little Rock woman who sold goods to the sheriff's office have pleaded guilty to mail fraud in a scheme to steal from the sheriff's office, according to a news release from the U.S. attorney's office.
    • May 16, 2017
  • Charter school accountability: Non-existent in Arkansas

    A state audit finds charter school spending violated state law, but the state Education Department says it has no responsibility for ensuring proper management of charter schools. Say what?
    • Mar 5, 2016

Most Recent Comments

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation