May 6th, 2013
07:28 AM ET
10 years ago
Senate to vote on proposed Internet sales tax law
New York (CNNMoney) - The U.S. Senate is expected to vote on a long-debated Internet sales tax law Monday, paving the way for millions of consumers to start paying sales tax on online purchases.
The legislation would allow the 45 states (and the District of Columbia) that currently charge sales taxes to require large online retailers to collect tax on purchases made by their residents. The law would only apply to online sellers that have sales of at least $1 million in states where they don't have physical operations, like a store or a warehouse.
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That's pretty dumb. Why on earth should people shopping online being charge more than going to a brick and mortar store? The point is that they can offer cost savings because they don't have to maintain a location.
What a ridiculous idea! Up there with the tax on electric cars!
Do NOT vote this in. It will kill many small earners who use internet sales to subsidize regular income that is not enough to survive on.
Republicans face a test here. They resist making the wealthy pay a tax rate that has been shown to make America prosper, they fight to leave tax loopholes and subsidies to big oil companies, yet they appear willing to go at a small tax break that impacts the middle class hard. Many people will simply not buy items if the price is raised 6-9% with taxes. UPS, FedEx and the USPS will also greatly suffer as will all of the on-line buying services.