Save your pennies this weekend

Published 12:00 am Friday, August 7, 2009

Louisiana shoppers will take a little of Benjamin Franklin’s common sense knowledge to heart this weekend.

Franklin popularized the saying, “A penny saved is two pence clear” which has become “a penny saved is a penny earned” over time.

And shoppers buying in Louisiana this weekend can save a few pennies during a Louisiana Sales Tax Holiday event today and Saturday.

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Spenders will be exempt from paying the 4-percent state sales tax on the first $2,500 of an individual item. It does not, however, exempt purchasers from having to pay local sales taxes.

Normally, a mere 4-percent sale might not attract many buyers, but there’s something about the notion of not having to pay taxes on something that always seems to lure the masses.

And, especially given the tight national economy, it’s a nice way to help provide a break for what is arguably among the most unfair tax — sales tax.

No one likes paying any tax, but sales taxes — especially when levied on basic necessities such as groceries — are certainly burdensome to lower-income residents.

Louisiana’s sales tax holiday is set up as an annual event. Mississippi isn’t quite as progressive yet. The Magnolia State opted last month to have a sales tax exemption on back-to-school items, but limited the value to $100 each.

It was a start for sure, but hopefully Mississippi will consider making the tax holiday a more permanent fixture and, if they scheduled it in conjunction with Louisiana, the residents of the two states could save lots of pennies in the process.

That would certainly make Ben Franklin proud.