Internet Sales Tax

retouch ladyAccording to CNNMoney.com ” The Senate voted 69 to 27 to approve the bill, which enjoyed bipartisan support. But before it can become law, it must be approved by the House, where Republicans are split on the issue. Some House Republicans have already expressed support for the bill, arguing that it would level the playing field for small brick-and-mortar retailers. They say it would not create a new tax, but rather enforce the collection of taxes already charged at traditional retailers. But other House Republicans still view that as a tax increase on consumers or say it would overburden Internet businesses in their states.The Obama administration has endorsed the bill, so if it can gain approval in the House, it is likely to become law.”

Do I want to pay more ? no but I believe that its good for leveling the playing field between internet companies and brick & Morter businesses. Online stores have infinite advantages over brick and mortar stores. According to the same report, if the bill is enacted, academic studies estimate more than $12 billion in additional sales taxes will be collected from online purchases each year  Sometimes its good to do things for the greater good of the society you live in.  What do you think?

Leave a Reply