The stimulus money is getting spent as fast as it went in the customer’s account. Everyone is going to be broke after they burn up Covid and tax money. No more handouts. The bubble is going to burst soon. Look at the inflation, check out our treated lumber pricing, and Biden Admin. already hinting at tax increases. It’s all going to come crashing down my friends. Guess what corporate will do then or proactively? They are sharpening the axes.
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They were showing figures on one of the investment shows, the stimulus break down means every man, woman and Child (or however you choose your gender). Will owe $5,500 in additional taxes to fund it. They are pushing to close the deficit by,.... puting a capital gains tax on inheritance. So if your parents or grand parents... pass away and you inherit the family home and it was $50k when they bought it but is worth $200k at their time of death, the person inheriting would need to pay tax on the $150k difference. Some with any stocks or any investment held world wide. Yup crypto too. Your family member has bit coin you would get taxed for any increase in value.
boys and girls,
I see that we have some on here that are economically illiterate. corporations don’t pay ANY taxes. The pass them on to us, the consumers, through prices increases and fees. The end user always pays the tax. Those of you advocating for higher taxes on corporations are simply advocating for higher taxes ON YOU AND ME.
By the way, with all this helicopter money being sprayed out in the stimulus, guess what? NO one wants to work. Small biz and even Lowes cannot find enough employees. Why work when you can continue to get state unemployment PLUS a federal add-on of $300.00/month AND all other the free money that the current administration is handing out.
Good luck finding new hires for the spring staff-up in your store.
The stimulus money is being provided to pay down on bills for those in urgent need and to be spent by others on discretionary items in order to help jump start the economy. Most small businesses suffered during the downturn and need whatever help they can get in order to survive (assuming they haven't imploded already). Support them where you can. As for LOW and HD, they both have been benefiting majorly from the suffering that others have been experiencing.
As for the comment about taxes possibly going up for large corporations and the very wealthy, I say let them pay their fair share. When the corporate tax cuts were made where did the bulk of that money go? It certainly did not go into the pockets of the lower level workers. Rather it went into the coffers of the large businesses so they could do more stock buybacks, provide even more outrageous corporate bonuses and in some cases be spent on company infrastructure changes (so that in many cases they could improve efficiency and in turn need even less lower level workers). Sound familiar to anyone? My recollection was that LOW gave their employees a one time $500 bonus but only AFTER HD did so for their employees. And let's face it LOW has even less stores/employees than when its current CEO took over.
I do agree that the trend of decreasing pay roll at the store level is likely going to continue until a business eventually reaches the critical tipping point of not being able to provide the minimum level of acceptable service and its customers start taking a walk over to the competition. Anyone remember Kmart and how they were competing with Walmart for the same market share? How about Sears who was once number one at everything? Only blind arrogance leads any company to believe they are too big or essential to fail. Were changes needed at LOW in order to grow? Absolutely, but at this point fear desperation is going to set in rapidly at the corporate level when LOW can not continue to grow the store level comps to meet their insatiable expectations.
Gotta ride the wave, look for opportunities outside. To be fair though, it's gonna be a lot of retail and not just Lowe's. Lowe's at least has the benefit of when SHTF, folks have to come in and buy lumber, sandbags, etc. Shopping malls got ganked on during COVID. Brick and Mortar is eventually just going to become designated pick-up spots for online orders.
Yep, lining their pockets to sit back comfortably, and waiting in the bushes for employees.