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Experts: Sales tax holidays more hurtful than helpful

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MONTPELIER, Vt. – Brad Borofsky hopes a sales tax holiday this weekend will draw more buyers to his outfitters shop in search of kayaks, canoes and other high-end outdoor items. After all, who wouldn't like a break on their taxes?

Yet a growing chorus of national tax experts — both on the right and left — are panning sales tax holidays as a gimmick that does little to boost the economy and hurts already-sagging state revenues more than they help consumers.

Massachusetts, Maryland and the District of Columbia have cut back on sales tax holidays or scrapped them altogether recently. In Massachusetts, which lost $14.9 million in potential sales taxes during a two-day holiday last August, a 25 percent sales tax increase went into effect this year.

http://news.yahoo.com/s/ap/20090821/ap_on_...es_tax_holidays

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