| Well, this'll play well with people already annoyed by the way Right to Work was rammed through the Legislature practically in the dead of night. In the height of tax season, many Michigan residents owe more money to Lansing. Some major income tax changes approved 21 months ago by Gov. Rick Snyder and lawmakers are just now starting to hit taxpayers filing their state returns.
There've already been a couple of stories circulating in the media about this. So, why bring it up? Because it amounts to a war on Wal-Mart. Wal-Mart is facing a scary reality: the ailing finances of its core customers, Brian Sozzi, chief equities analyst at NBG Productions, told us. "Wal-Mart shoppers are the barometer of the U.S. consumer, and these emails reflect common sense about customers," Sozzi told us. "The consumer isn't mentally or physically ready to spend on discretionary inventory and there's no reason to be optimistic." "The fundamental health of Wal-Mart's customer is concerning," Sozzi said.
...snip... Wal-Mart CEO Mike Duke, told Women's Wear Daily last year that his customers weren't confident in the economy. “They are middle-class Americans and those aspiring to join the middle class,” Duke said. “Our customers are working hard to adapt to the ‘new normal,’ but their confidence is still very fragile. They are shopping for Christmas now and they don’t need uncertainty over a tax increase.”
Or, certainty over it. Again, the real job creator is the American consumer, who actually creates the demand for goods and services. What do we suppose is going to happen in Michigan stores that see stagnant sales or even a decline? Fewer employee hours. |
