News4us

California Pushes for New Internet Tax Law as the Economy Languishes

(News4us.com) August 17, 2011

California Pushes for New Internet Tax Law as the Economy Languishes

California Pushes for New Internet Tax Law as the Economy Languishes

While many are saying that authorities should be looking for ways to further stimulate the countries lagging economy rather than hitting US citizens with new taxes, the state of California has taken the first step towards the latter.

Bill Delahunt a Massachusetts Democrat, recently introduced such a bill that will seemingly rewrite the ground rules for Internet and mail order sales by eliminating the option for many Americans to shop over the Internet without paying state sales taxes.

This subject has been approached from many different angles over the past decade but failed to make any serious headway, until now.

Pro-tax Lobbyists along with state governments have been hotly pressing Congress for these taxes to be collected from the online community just like it is from the local brick and mortar businesses.

Arguments put forward include that the reduced sales tax revenues are threatening budgets from necessary infrastructure costs to badly needed public services such as schools and police.

Major Internet retailers such as Amazon and ebay will be greatly affected by these new taxes and the flow on effect will be felt by millions of consumers throughout the country.

Yearly revenue estimates claim the initial taxes returned to the government coffers would be approximately $23 billion a year.

Many are saying that Congress would not dare make such a move, especially during the throws of a double dip recession and the recent financial downgrading.

Consumers are being encouraged to spend now more than at any other time in US history, surely a new tax will only see more money being hoarded away rather than spent on life’s small luxuries.

Online Petitions against these new Internet taxes may be signed at: http://jobsnottaxes.com/

 


Short URL: http://www.news4us.com/?p=11768

Posted by on Aug 17 2011. Filed under Featured News, Finance. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Copyright © News4us.com