Shop locally: The story of two $10
Send a link to a friend
The first story we want to tell you is the one
about a $10 bill that went to purchase an item in another community.
Well, that's the end of that story.
The other story is about a $10 bill that is spent at a local
store. First off, sales tax generated from the sale goes to help our
city and county governments. Another portion of that $10 goes to the
owner or an employee as wages. That portion, in turn, gets used to
buy food, gas or other items at stores, which also means more sales
tax and income for other local owners and employees. That initial
sale of $10 just keeps winding its way through the local economy
until it has done all it can to help us.
The effect of a dollar bill becoming greater than itself in an
economy is known as the multiplier effect. This effect shows that
there is more help to a local economy through that initial purchase
than one would at first consider, and that is why our dollars spent
locally are so important to all of us.
Now, we at LDN are not
trying to tell any of you that you are required to buy everything
within walking distance of your home. But if all of us just did a
little more shopping locally, how much would it add to our own
economy? Would it be thousands of dollars, or perhaps tens of
thousands of dollars? We are willing to wager it would be more than
that, and the mathematics backs up our claim.
You see, those $10 bills have a way of growing in a local
economy, and in these difficult times, that simple and
far-from-extravagant sum can mean more than you would imagine. If
every adult in Logan County who intends to spend money on Christmas
gifts spent $50 more than they usually would locally, the end result
would be more than $100,000 in additional taxes to support city and
county services. And that is without factoring in the multiplier
effect of each local purchase.
[to top of second column]
Larger purchases and the effect of buying locally could be a sum
so much greater that news of cash-strapped local governments
wouldn't be in our news anymore. And since you were going to spend a
set amount of money on gifts, this positive result didn't cost you
an extra dime.
We respectfully submit that this is one of the most caring and
generous communities in this great country of ours.
This Christmas season, help someone you all know quite well. Help
Shop Logan County. It helps everyone.
Click here to respond to the editor about this