Pittman says he wants to see a tax credit for ad spending. Not a bad idea. Here in Florida, the cash-strapped legislature is in panic mode, and they're looking at eliminating some long standing sales tax exemptions. Yep, that includes advertising. It could happen, believe me. And the damage it would do to the industry, and to all businesses throughout the state who will cut advertising budgets even further, would be devastating.
The Florida view comes from a rather unfortunate and widespread notion that advertising is a cost. Pittman points out that it is an investment. The guy is my hero this week because he's absolutely right. Advertising is the thing that will get the consumers who do have the money, but are sitting on the fence, to get in the game and stimulate the economy by purchasing the things they need. And yes, they will still be able to get the best deal while most retailers and service businesses are cutting prices.