Tax Season Makes Prices on Market go high
Hey it’s tax season, people have money in their pockets and they ready to buy and shop for things they want more than things they need. The looming price rise which has also been forecast by other retailers, including discount fashion chain comes as shoppers face substantial rise elsewhere. The market is aware of this – they know how to make their money back – and they know since now that people have some money in their pockets they will do anything to make money and recover from their previous. Especially with the Super Bowl sales, stores like Best Buy and PC Richards dumped a lot of unwanted product that weekend. Because these stores know that this is the right time to increase prices in their stores, they know no matter how people think, they prices are outrageous the customers will still buy it.
Prices on Nike sneakers, especially Foamposite, have had an increase form their regular price from $180 to $220 but people haven’t hesitate, they will complain but still buy it even when Nike have said the extra $20 was to increase the quality of the sneakers. So does that mean we have to pay extra more just to ask for quality? Also, this is due to the raise in cotton and it rare growth at this time of the year.
The incredible raise in grocery shops with food items is highly demanding. Food discount on time like promotions like 3 items for a $1, buy one item get the second for free, and so on, are on the decline. They are back to original prices which really is really disturbing, the last six months have seen sharp increases in the global prices of wheat, maize, sugar and edible oils, with a relatively smaller increase in rice prices. Supporters of the tax increase counterpoint this while smokers purchase less food, clothing, and shelter . For every ten percent increase in the price of food and clothing, the price of tobacco is double that.
An increase in sales taxes will also drive up the cost of all consumer good and services, as consumers are the ones ultimately paying the tax. This means increased prices of food and clothing. One could argue that this disproportionately effects the poor who pay the same sales tax rates as the rich. In other words, taxes are given to pay for a double on tax on items.
Tax season has also increased the prices on gas an d energy consumption, school supplies have got a little expensive and so does transportation ticketing.
We don’t tend to really pay attention it notice the price increases on things especially or daily usage on commodities because we have few bucks in our pockets when all it set and done with a little bit left in our pockets and when things so back to their original prices and their daily discounts that when we begin to make comparisons.
Tax Season is here. Be wise and smart on how you spend!