Marketplace Fairness Act
Posted by BlueNova 12 years ago to Legislation
Did I fall into a chapter of Atlas Shrugged and can't get out. Sometning akin to falling down Alice and Wonderland's "rabbit hole."
Street retailers want the State to collect sales taxes from on-line vendors. Ironically, many of which also do business on-line. Currently, when purchasing a product on-line, a S&H charge is applied. When purchasing a product of the "street" store, a sales tax is applied in most states (45 of 50; or, 52 of 57 if using obama's count). Isn't this leveling already achieved by market forces?. This is all BS and they're quickly, very quickly ramming it through congress. But the unintended consequences (except for obama) is to drive on-line purchasing to firms outside the US causing a further loss in jobs.
While I'm at it, another example of an "Atlas-ism" is more serious because it led to the housing bubble collapse which led to the collapse of the economy which led to the rise of the socilaists. The Financial Services Modernization Act of 1999. This repealed the Glass-Steagall Act of 1933. This act separated the banking firms from the securities firms and their combined services led to looting the economy. The repubs passed this legislation. The dems will pass the former, if they can, with a little help from the repubs.
BTW, the G-S Act was one of the few laws that the socialist Roosevelt administration. created. It was created to prevent another depression. The repeal of the G-S Act is a great example of those who forget history are doomed to repeat it.
Congress, both dems and repubs, are looting us and it cannot be stopped. It's frustrating, so frustrating.
Street retailers want the State to collect sales taxes from on-line vendors. Ironically, many of which also do business on-line. Currently, when purchasing a product on-line, a S&H charge is applied. When purchasing a product of the "street" store, a sales tax is applied in most states (45 of 50; or, 52 of 57 if using obama's count). Isn't this leveling already achieved by market forces?. This is all BS and they're quickly, very quickly ramming it through congress. But the unintended consequences (except for obama) is to drive on-line purchasing to firms outside the US causing a further loss in jobs.
While I'm at it, another example of an "Atlas-ism" is more serious because it led to the housing bubble collapse which led to the collapse of the economy which led to the rise of the socilaists. The Financial Services Modernization Act of 1999. This repealed the Glass-Steagall Act of 1933. This act separated the banking firms from the securities firms and their combined services led to looting the economy. The repubs passed this legislation. The dems will pass the former, if they can, with a little help from the repubs.
BTW, the G-S Act was one of the few laws that the socialist Roosevelt administration. created. It was created to prevent another depression. The repeal of the G-S Act is a great example of those who forget history are doomed to repeat it.
Congress, both dems and repubs, are looting us and it cannot be stopped. It's frustrating, so frustrating.
