Just asking
Wal-Mart Effect Moves Into the Grocery Aisle
A Supercenter is changing shopping habits in the Coachella Valley…A typical Supercenter does $400,000 a week in food sales, said Jonathan Ziegler of PUPS Investment Management in Santa Barbara. At that rate, he said, the La Quinta store will siphon about $20 million a year in food sales from grocery stores in the area.
But at the same time, the Supercenter will bring in as much as $850,000 a year in municipal sales tax revenue, the city of La Quinta calculates. And it laid out the welcome mat, giving the developer $2 million in infrastructure improvements as an incentive.
How much sales tax revenue did the stores that are having $20,000,000 a year in sales siphoned from them bring in?
Seriously, if Wal-Mart's prices are so much lower (as the article says) wouldn't that generate less sales tax that the purchase of the same goods pre-Wal-Mart?
