Many Iowa retailers reported brisk business during Tax Freedom Weekend, but one economist fears many consumers are spending themselves deeper into debt. Creighton University economist Dr. Ernie Goss says a recent survey predicted the average American would spend a significant amount of money on back-to-school shopping this fall.He says the estimate was around 500-dollars a child. something he says is a bit surprising, given the economic circumstances which include a high consumer debt, low consumer confidence and unemployment numbers rising. Goss says many shoppers in Iowa stores this weekend weren’t Iowans — they were from border states.State revenue officials say Iowa’s first Tax Freedom Weekend, held last year, saw retailers ringing up 31-million dollars in sales while shoppers saved one-point-six million in taxes.
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