OT: Internet Sales Tax Passes the U.S. Senate

[keith smith]

The U.S. Senate passed the Internet Sales Tax Bill.  Jeff Flake's office says he voted against it and John McCain's office said he voted FOR it.

It is being reported there in some 9,600 taxing authorities in the U.S.  Add to that 560 or so Indian tribe taxing authorities. That is over 10,000 taxing authorities.  Yikes!!  Any company with 1 million in sales will be required to comply.  I can tell you that a company that has 1 million in sales is not a big company.  That online retailer might consist of 2 or 3 employees with some additional help from a number of consultants and potentially a fulfillment center. 

>From first hand experience, I would say this law, if passed by the U.S. House, will cause a bunch of small online retailers to either go out of business or reduce sales through raising prices or some other method.  

This may very well play out like ObamaCare where companies are reducing the hours of their employees so they have less than 50 full-time employees.   In other words we will experience the unintended consequences of these laws.

These polices effect each of us.  

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Keith Smith
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