Ithaca Hours money

[jeafl]

http://www.ithacahours.com/home.html

Ithaca Hours are a currency that locally owned merchants in Ithaca, NY will accept as if they were U.S. legal tender. Several cities across the country have similar currencies; I think Gainesville, Fl. has such a currency.

Would something like this work in Jacksonville?

[cracklow]

http://www.ithacahours.com/home.html

Ithaca Hours are a currency that locally owned merchants in Ithaca, NY will accept as if they were U.S. legal tender.  Several cities across the country have similar currencies; I think Gainesville, Fl. has such a currency.

Would something like this work in Jacksonville?

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does gainesville? and does jacksonville have enough locally owned merchants?

[jeafl]

does gainesville? and does jacksonville have enough locally owned merchants?

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I think Gainesville does still have a large number of locally owned stores- especially restaurants and book stores that cater to the university.

With Wal-Mart, Home Depot and Winn-Dixie Jacksonville may be a lost cause.

[RiversideGator]

I think this concept may be illegal. It subverts the monetary system (which is supposed to be a monopoly of the federal government) and it has the effect of avoiding income taxes (which I think is the primary motivation). Not that I am opposed to bartering in principal and not that I like taxes, I just think this may run into legal trouble.

[jeafl]

I think this concept may be illegal.  It subverts the monetary system (which is supposed to be a monopoly of the federal government) and it has the effect of avoiding income taxes (which I think is the primary motivation).  Not that I am opposed to bartering in principal and not that I like taxes, I just think this may run into legal trouble.

<{POST_SNAPBACK}>

The concept is not illegal and you must count any local currency you receive as income on your federal income taxes and any purchase made with the local currency is still subject to state and local sales taxes.

[Viper]

OK, what's the point? If it's the same and must be reported, why bother?

[jeafl]

OK, what's the point?  If it's the same and must be reported, why bother?

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Local currency can only be spent locally- any dollar spent in local currency cannot be siphoned out of the community by companies like Wal-Mart.

[Viper]

If it can only be used at local stores, it wouldn't be leaving the community anyway, would it?

Regular dollar/local dollar all would stay local if you used a local store.

[jeafl]

If it can only be used at local stores, it wouldn't be leaving the community anyway, would it?

Regular dollar/local dollar all would stay local if you used a local store.

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You really believe that all of the profits a Wal-Mart in Jacksonville makes stays in Jacksonville?

[RiversideGator]

Jeafl: I see your point, but couldnt this be accomplished by just shopping at local places rather than Walmart?

[Viper]

You really believe that all of the profits a Wal-Mart in Jacksonville makes stays in Jacksonville?

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Of course I don't but didn't you say the funny money could only be used at locally owned stores anyway?

Spend $10 Dollars at Ma's Kitchen...money stays in Jax.

Spend $10 Gatorskins at Ma's Kitchen...money stays in Jax.

[jeafl]

Jeafl:  I see your point, but couldnt this be accomplished by just shopping at local places rather than Walmart?

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If there is a currency that only local merchants will take, then that currency has no value anywhere else and will never leave the local community. If you spend U.S. currency at a locally owned store you have no guarantee that that store will not use that currency to pay its employees or suppliers who will then spend it at Wal-Mart or some other non-local store that will remove it as profit.

BTW: There are cases in which a merchant that will accept the local currency has employees that are willing to take part of their wages/salary in the local currency. And I believe that in Ithaca there is the equivalent of a bank that will loan out the local currency. That way people can find local building contractors that will take the currency and use the local currency to pay for capital improvements to their property.

[jeafl]

Of course I don't but didn't you say the funny money could only be used at locally owned stores anyway? 

Spend $10 Dollars at Ma's Kitchen...money stays in Jax.

Spend $10 Gatorskins at Ma's Kitchen...money stays in Jax.

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See my reply to Riverside Gator. U.S. currency always runs the risk of ending up at Wal-Mart and then finding its way to Bentonville.

[scongro]

See my reply to Riverside Gator.  U.S. currency always runs the risk of ending up at Wal-Mart and then finding its way to Bentonville.

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My grandfather lives in Bentonville.

I have no real comment here, I just figured I'd share

[RiversideGator]

I have never been to Bentonville, but I cant imagine that it poses that much of an economic threat to Jacksonville.

I think a lot of this anti-Walmart stuff comes from elitist liberals who dont like the Walmart style and customers. I personally loathe Walmart because of its shopping experience, but I recognize their right to exist. I did recently buy a digital camera there while in Missouri at a lower cost and felt good saving the money. On a regular basis though, I cannot take shopping there. But, who cares about Walmart? It is just another company, not the evil empire. It will probably go under one day when market forces change anyway. After all, once Sears was far more dominant than Walmart.

[jeafl]

I have never been to Bentonville, but I cant imagine that it poses that much of an economic threat to Jacksonville. 

I think a lot of this anti-Walmart stuff comes from elitist liberals who dont like the Walmart style and customers.  I personally loathe Walmart because of its shopping experience, but I recognize their right to exist.  I did recently buy a digital camera there while in Missouri at a lower cost and felt good saving the money.  On a regular basis though, I cannot take shopping there.  But, who cares about Walmart?  It is just another company, not the evil empire.  It will probably go under one day when market forces change anyway.  After all, once Sears was far more dominant than Walmart.

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Bentonville, Arkansas is where Wal-Mart has its corporate HQ.

I can assure that while I am opposed to Wal-Mart and shop there only I have to, I am not an elitist liberal.

[RiversideGator]

Bentonville, Arkansas is where Wal-Mart has its corporate HQ.

I can assure that while I am opposed to Wal-Mart and shop there only I have to, I am not an elitist liberal.

Jeafl: I know that is Bentonville's dubious distinction. I just meant in the grand scheme of things, I dont find Walmart to be an economic threat.

As for accusing you being a liberal, I didnt mean to imply this. We seem to be on the same side of most issues as far as I can see. I meant that hatred of Walmart does seem to be a liberal cause celebre.

[jeafl]

Jeafl:  I know that is Bentonville's dubious distinction.  I just meant in the grand scheme of things, I dont find Walmart to be an economic threat.

As for accusing you being a liberal, I didnt mean to imply this.  We seem to be on the same side of most issues as far as I can see.  I meant that hatred of Walmart does seem to be a liberal cause celebre. 

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Since the first Wal-Mart opened in Jacksonville in 1987 16 other retail stores that had some, or all of Wal-Mart's product lines and which were either here before Wal-mart or came after Wal-Mart have left the Jacksonville market or gone out of business nationally:

Drug Emporium

Jefferson Ward

Lurias

McCrory's

Montgomery Ward

Murphy's

Phar-more

Pic-n-Save

Service Merchandise

TG&Y

Western Auto

Woolworth

Zayres/Ames

Jean Nicole

Strawberry Fields

Lionel Toy World

So tell me how Wal-Mart is not an economic threat to Jacksonville.

[Viper]

I think Pic N Save was the only one that was locally owned so the money that went to those other stores didn't stay in Jax either. Pic N Save was on its way out anyway. I know a few upper management from way back and it didn't need Wal-Marts help to lose money.

[RiversideGator]

Since the first Wal-Mart opened in Jacksonville in 1987 16 other retail stores that had some, or all of Wal-Mart's product lines and which were either here before Wal-mart or came after Wal-Mart have left the Jacksonville market or gone out of business nationally:

Drug Emporium

Jefferson Ward

Lurias

McCrory's

Montgomery Ward

Murphy's

Phar-more

Pic-n-Save

Service Merchandise

TG&Y

Western Auto

Woolworth

Zayres/Ames

Jean Nicole

Strawberry Fields

Lionel Toy World

So tell me how Wal-Mart is not an economic threat to Jacksonville.

I am sure that Walmart hurt some of these companies, but how did Walmart hurt the Jacksonville economy or consumers generally? I am not interested in having the public subsidize inefficient companies by paying higher prices.

[jeafl]

I think Pic N Save was the only one that was locally owned so the money that went to those other stores didn't stay in Jax either.  Pic N Save was on its way out anyway.  I know a few upper management from way back and it didn't need Wal-Marts help to lose money.

<{POST_SNAPBACK}>

Pic n Save was the only locally owned store, but the loss of all of the other stores means than consumers in Jacksonville have fewer options. In recent years, the brand and product selection at Wal-Mart has gone down while prices have gone up.

[jeafl]

I am sure that Walmart hurt some of these companies, but how did Walmart hurt the Jacksonville economy or consumers generally?  I am not interested in having the public subsidize inefficient companies by paying higher prices.

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By reducing competition. Jacksonville consumers no longer have the product and brand choices they had before Wal-Mart came to town.

[Viper]

I'll give you that selection decreased yet prices, though rising within Wal-Mart, are still at or lower than the other stores.

The problem isn't just Wal-mart, it's every single corporate chain in America and that includes those based in Jax. I have no problem with my dollar going to whatever company has earned my dollar.

Isn't this undercutting the entire ideology behind a capitalist nation? If we cut out non-local entities from the local market because they can no longer make profit here, local prices will skyrocket in the local chains.

Besides, even locally owned companies purchase materials, have labor, spend money and more outside of their home market so even if you circumvent the profits to just your market, the money will leave anyway.

[jeafl]

I'll give you that selection decreased yet prices, though rising within Wal-Mart, are still at or lower than the other stores.

The problem isn't just Wal-mart, it's every single corporate chain in America and that includes those based in Jax.

[Viper]

what happens when Wal-Mart's prices get to be higher than what these stores had before the first Wal-Mart opened?

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If they became too high, other companies would easily open and flourish again.