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Black Friday: Remember The Story
For
millions of Americans, Black Friday will be a rush to find the best
deals on the latest gadgets and toys. On Black Friday, we see the best
and worst of American society. There is even a website called
BlackFridayDeathCount.com whose mission is to highlight the tragic
accidents that have happened on Black Friday since 2006. There are
nearly 100 injuries! Black Friday hasn't always been about getting the
best deals.
Black Friday was first used to describe the crash of the US Gold Market
in 1869. That crash was caused by the greed of two wealthy Wall Street
financiers, Jay Gould and Jim Fisk. These two conspired to buy as much
US Gold as they could in order to drive the price up. Supported by
officials in the Grant administration, this greed hurt thousands of
investors who had taken loans to purchase gold.
Black Friday can still be about getting good deals on the latest toys
and gadgets but we should take a moment to remember the story of how
greed and government incompetence can hurt us. A lesson we'll need to
remember in 2016. |
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The Cost of Shopping
While
over 200 million Americans will venture out to malls and stores to
purchase holiday gifts for their loved ones, it's an important time to
stop and think about the cost. According to the National Retail
Federation, Americans spent $50.9 billion last year during this holiday
weekend. With an average sales tax rate in this country of 5.08%, the
government coffers can expect to take in over $254 million in revenue.
With government spending over $3.5 trillion, one weekend of tax revenue
is hardly going to make a dent, but it is a good time to remember that a
portion of every "deal" you get will be going to the government. When
we vote for president in 2016, we really should be thinking about who
will be the best steward of our hard earned money. |
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