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View Diary: Missing the Boat on Gingrich’s Tiffany’s Issue (140 comments)

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  •  I hate to defend Newt....but (14+ / 0-)

    My wife works for Tiffany and Co. and I can tell you getting anywhere from six to twelve months interest free on your TCo charge account is normal with certain large purchases.  

    Go there and buy a $150 "Return to Tiffany" pendant and no, they aren't going to give you any sort of deal.  Buy a $15,000 engagement ring or watch, and yes, you'll probably be offered a "TTA"- A Tiffany Time Account as well..which by the way is different from the regular Tiffany credit card.  (I know, because it is how I paid off my wife's engagement ring a few years back...interest free.

    This is no different from the myriad of companies that offer an interest free period on credit.

    There's a lot bad things about Newt, but harping on his shopping at Tiffany's really shouldn't be one of them.

    •  $15,000 is one thing... (3+ / 0-)
      Recommended by:
      phonegery, conlakappa, Debby

      but $500,000???

      BTW...doesn't Avon own Tiffany's?

      Just asking.

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      by annrose on Thu May 26, 2011 at 07:51:09 PM PDT

      [ Parent ]

      •  A long time ago. (0+ / 0-)

        Avon owned Tiffany's back in the '80s.

      •  I look at it this way. (3+ / 0-)
        Recommended by:
        myrealname, eXtina, sidnora

        Someone spends $500K on something (anything) in NYC, that's $43,375 in sales tax for the State, the City, and the MTA (mass transit).

        Yes, I want an income tax structure that is more fair (higher for the very wealthy), and all the other things spoken about here... but let the very rich also spend.  They want a half-million dollar necklace... awesome, just buy it in NYC please and help pay my public school teacher salary.

        •  that's how the right wing (0+ / 0-)

          sells regressive sales taxes to people down here, other people will pay, peoplle from out of town, out of state, etc.

          They never mention that the poor and middle class invariably end up with a tax increase, the rich, who spend less as a percentage of total income on consumables, get a big tax break, and generally, the sales tax generates less income overall than a fair and progressive income tax would generate.

        •  But now repubs are cutting the safety net for (2+ / 0-)
          Recommended by:
          terabthia2, PsychoSavannah

          those who need it in order to hang on to needless tax cuts for the wealthy.

          The hundreds of thousands Newt's spending on bling would have gone into the US Treasury, but for the Bush tax cuts.  

          Without the Bush tax cuts, the debt would not be so overwhelming and repubs wouldn't be able to wield their meat cleaver to make cuts.

          Connect Newt's bling and the folly of tax cuts for the wealthy.

          He could probably afford to pay the pre-Bush taxes and still buy plenty of bling.  So there would still be sales tax revenue coming in from him.

          Some people fight fire with fire. Professionals use water.

          by Happy Days on Fri May 27, 2011 at 08:39:50 AM PDT

          [ Parent ]

    •  But that doesn't help (19+ / 0-)

      the case for trickle down working. The truely wealthy get a lot of perks. The point is that Gingrich and many others who got a big tax break from Bush are spending it on foreign goods that don't result in job growth to the American economy. That's the underlying problem. The lobby for trickle down is 'let us keep more and we will spend it on job creation,' but the reality is it's being spent on South African diamonds or other luxury goods that don't produce very many jobs.

      They say a little knowledge is a dangerous thing, but it's not one half so bad as a lot of ignorance. Terry Pratchett

      by Toon on Thu May 26, 2011 at 08:38:24 PM PDT

      [ Parent ]

    •  Does Tiffany request a line of credit (0+ / 0-)

      be opened for borrowed jewelry?  I am thinking that is why the high amount but your wife would know.

      •  The borrowed stuff is rare (1+ / 0-)
        Recommended by:
        PsychoSavannah

        I don't know exactly how that works... I'm sure when you see someone wearing a piece of TCo jewelry at the Oscars-- (Anne Hathaway was wearing a $10 million diamond necklace this year from them.)-- there is some sort of insurance, but the borrowing is pretty rare.

        Mere mortals cannot do it.  In fact, I joke with my wife that she should borrow something nice (a tiara for instance) for our wedding.... she said, "Forget it."  Even if she wanted to, it wouldn't have been allowed.

    •  Lots of companies do offer those (2+ / 0-)
      Recommended by:
      Lying eyes, PsychoSavannah

      kinds of deals.

      I got my furniture interest free - paid it off in 3 mos, same as cash. My computer too - Dell was offering one of their pay in 6 mos no interest charges deals, and I paid it off in the 6 mos.

      Furniture places offer this all the time - sometimes it can be up to 2 yrs with no interest.

    •  The REAL issue (1+ / 0-)
      Recommended by:
      PsychoSavannah

      I don't think the issue is about credit or interest or any of that.

      The issue is what the diarist talked about:

      - Newt, and rich people like him, got hundreds of thousands in tax relief from Bush, and look what it goes for--bling, mined from South Africa.  

      - Where are the jobs???

      - There's no meaningful trickle down.

      - The US is in greater debt so that Newtie can buy $$$$$ bling for his latest wife.

      Tie the US debt to the excess wealth in the hands of the likes of Newt, thanks to the job-destroying Bush tax cut for the wealthy.

      Some people fight fire with fire. Professionals use water.

      by Happy Days on Fri May 27, 2011 at 08:31:14 AM PDT

      [ Parent ]

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