Looks like Christmas sales were a bust in PA

[AllentownJake]

HARRISBURG, Pa., Jan. 4 /PRNewswire-USNewswire/ -- Acting Secretary of Revenue C. Daniel Hassell today reported that Pennsylvania collected $2 billion in General Fund revenue in December, which was $37.2 million, or 1.8 percent, less than anticipated. Fiscal year-to-date General Fund collections total $12.4 billion, which is $254.2 million, or 2 percent, below estimate.

Sales tax receipts totaled $627.3 million for December, $39.1 million below estimate. Year-to-date sales tax collections total $4 billion, which is $181.1 million, or 4.4 percent, less than anticipated.

Personal income tax (PIT) revenue in December was $707.3 million, $6.2 million below estimate. This brings year-to-date PIT collections to $4.3 billion, which is $111.7 million, or 2.5 percent, below estimate.

============================================================================================

The one statistic the government really has a hard time manipulating or spinning is tax collection.

4.4% below estimate.

For a perspective last year collections were 638.1 million. July 2009 receipts were 735.2 million, August were 667.2 million and September were 633.4 million.

[jpak]

1. Great News!

:thumbsup:

[WeDidIt]

2. You sound so thrilled. n/t

[AllentownJake]

3. Acknowledging failure on a policy is the first step to success.

When it is a failure.

[WeDidIt]

6. One state's Christmas results does not a failure indicate.

Get real.

Overall, sales increased in this country.

[AllentownJake]

7. Pick a state any state

:evilgrin:

TX, WY, ND, and SD would probably be OK. I wouldn't pick Florida, New York, or California.

Really don't pick Ohio, Nevada, Arizona or Indiana.

[Fire1]

8. Indicators for Mich.? n/t

[AllentownJake]

10. Not released but they were talking about "online" sales

as early as the 22nd in the MI revenue department...that can't be good.

[Name removed]

9. Deleted message

Message removed by moderator. Click here to review the message board rules.

[AllentownJake]

12. ROFL

You guys are ridiculously funny.

You really do buy anything they sell you.

Why do they have better tax collections in July-September than?

[Jeff In Milwaukee]

20. Read down thread....

And thank you for that fact-free post.

[AllentownJake]

25. Want me to do WI for you when the data comes out

:evilgrin:

[Jeff In Milwaukee]

27. Don't bother...

Because the answer will be the same. Every state Dept. of Revenue has declared war on internet sales and is trying to recoup the lost sales taxes. For Chrissakes, this has been going on for a decade now. You're just figuring this out?

[Ikonoklast]

4. On-line shopping

Circumvents paying sales tax in high tax states...like PA.

[AllentownJake]

5. Right....

That is why July had higher collections than December

:eyes:

[Name removed]

11. Deleted sub-thread

Sub-thread removed by moderator. Click here to review the message board rules.

[Ikonoklast]

14. Durable goods vs. consumer goods.

Yes, there is a difference in seasonal sales, how and what people buy.

You don't buy a new lawn mower on-line, but you will buy your aunt a sweater on-line.


Roll your own eyes after doing a little research into consumer spending habits, how and what they buy and when they buy it, and get back to me.

[AllentownJake]

16. The correct answer is Cash for Clunkers

:rofl:

I know more than you think.

[Jeff In Milwaukee]

34. You know less than about anybody I know....

Cash for Clunkers generated about 125,000 sales over and above what the industry had estimated. While that's a lot of cars if they're ahead of you at the toll booth, it's spit in the ocean when it comes to the cumulative effect of the sales tax they generated.

Nice Try. But are you learning anything? That's the key.

[AllentownJake]

37. ROFL

Timmeh is that you.

[JVS]

13. Pennsylvania has a high proportion of Eastern Orthodox Christians

So naturally with their Christmas starting 2 days from now, they've procrastinated until this year to do their shopping.

Nah! Just yanking your chain. I wanted to try my hand at spinning stuff.

[AllentownJake]

15. That was coming next

I was expecting to get break downs on Greeks and Russians living in PA

:rofl:

[SpiralHawk]

17. But orthodox Easter Egg & chocolate bunny sales will

pull the economy out of the tailspin it went into under republicon shock & awe Starve the Beast strategery.

Speaking of Easter, the Republicons have undeniably crucified America's economy...

[TK421]

22. Should I not return this underwear I got as a gift? ( it's ticking )

:yoiks:

[NJmaverick]

18. In your zest for anti-Obama news you completely missed internet sales

oopsy

[Jeff In Milwaukee]

29. Stop It!

He's smarter than you, dammit. He's smarter than Paul Krugman.

And Obama's a dope for not putting Jake in his cabinet from DAY ONE, because we all know that the economic guidance this country REALLY NEEDS in these troubled times can only come from some doofus who posts on the internet.

And just in case Jake missed the nuance of this post....

:sarcasm:

[AllentownJake]

30. My, My

Someone pissed in your cheerios.

[NJmaverick]

32. More like we caught you trying to "piss in" Obama's cheerios

but we caught you with your pants down:evilgrin:

[Jeff In Milwaukee]

39. This guy has been butt-naked for weeks

Posts utterly nonsensical pseudo-analysis of economc data that he doesn't understand.

But the other day when he complimented Paul Krugman for being "smart" I thought I'd pee myself laughing. He's like precocious seven-year-old.

[AllentownJake]

41. Insults, accusations, and bullshit

I'm guessing a call out in the bomb shelter is coming any minute or a piece of hate mail from my "fan club"

[NJmaverick]

44. Yet you failed to address the glaring mistake you made by not taking into acount internet sales

No hate there, just a love of facts (a love you should try sometime)

[AllentownJake]

46. Ignored knows he's ignored right?

[Jeff In Milwaukee]

48. You're missing the point here....

You've been caught posting a laughably incorrect piece of pseudo-economics. STATE SALES TAX RECEIPTS DOWN -- and you persist in making yourself look foolish by not just admitting it. This is part of a long-term trend and reflective of a chaning in consumer spending habits -- state sales tax revenues would likely have gone down in any case.

But if you'd rather blame this on Obama, you go right ahead.

[AllentownJake]

49. Actually I think the fact you are arguing that Christmas Sales were great

Despite the fact consumers had less money to spend because more are unemployed and credit has been cut and they've moved to paying off debt and saving is rather amusing based on a small tax credit spread over 8 months.

There are debate arguments I'll respect.

2006 and 2007 were the peak of a bubble we shouldn't be going back to that type of spending. This is a lagging indicator and will get better in the future, is an argument I can't refute, because I have no crystal ball. Logic and reasoned arguments.

Logic dictates, when unemployment increases 3%, credit is cut, and consumers move to debt reduction/saving consumer spending will decrease. Like I said, where did the money come from. Even if everyone saved the $25 a paycheck till Christmas and spent it, you really think that replaces the credit cards and people who now have no income other than unemployment compensation, which has to be less than they made while working full-time?

Saying it didn't happen, is fucking making you a joke.

[ProSense]

19. U.S. Retail Sales Boosted by Gift-Card Use, Trade Group Says

U.S. Retail Sales Boosted by Gift-Card Use, Trade Group Says

Auto Industry Stabilizes as Ford, Toyota Post U.S. Sales Gains

[AllentownJake]

23. Gift Card sales?

You are really reaching on the Pravda Pro....that is a new low for you.

[AllentownJake]

24. BTW

How is GMAC doing these days?

:rofl:

[MannyGoldstein]

21. Stop Being So Depressing

The Bankers had a great Christmas!!! The largest bonus payouts in history, and you and I made it possible with our tax dollars.

Focus on them, instead of being a pony-mourning purist.

Now STFU and start working to pay your 79% annual rate credit card, sucker!!!

[Nikki Stone1]

26. LOL!

You got that right.

[HughMoran]

35. yeah, it's da bankers. yeah, that's it. Oh, and capitalism is da evilz

Payz da credit cards to da bankas - yeah, dey's ta blame for all da badness in the world.

Iz not fo da bankas, I'd be a millionairs now! Muthufuckas! :mad:

Damit!! I iz so mad cuz I got da big IQ but no moneeez! But I got money for berger.

I can haz cheezberger!!










(Where's the perfunctory picture of the banker from Monopoly?)

[AllentownJake]

36. Fail

Oh look the titans of fail

[HughMoran]

40. Thanks

I know it was a good post.

Oh, there's the perfunctory picture I was asking for!

:woohoo: I can haz cheezberger!!!!!!!!!11!!one!

[AllentownJake]

42. No problem I have a pic of dumb and dumber ready to go whenever you need it. nt

[HughMoran]

45. I like this one better

[AllentownJake]

47. That is my hairline

I have a bigger nose.

[Hoyt]

28. Sounds like they need a new budget forecaster.

[HughMoran]

31. Good news!

You must be psyched!

[AllentownJake]

33. That is why I respect you Hugh

Straight to the sarcasm, don't try to the Pravda first.

[HughMoran]

38. Pravda was a good source for info during Bushco

Of course, any news not from the USA was more reliable for a few years running. What am I saying!?





















(nothing has changed)

[AllentownJake]

43. They are saying the same things now

At least they are consistent.

[Starbucks Anarchist]

50. Ebenezer Obama ruined Christmas!

:cry: :cry: