This page has been archived and commenting is disabled.

Universal Online Sales Tax Imminent?

Tyler Durden's picture





 

That Congress has had aspirations on collecting sales tax on online purchases, which comprise an increasingly bigger portion of all retail sales in the US, in the past is nothing new. However, following last night's passage of the Marketplace Fairness Act in the Senate with a cloture-busting 74 votes for (and 20 against), the US may be very close to finally adopting a uniform standard taxing all online transactions, regardless of physical jurisdiction or any other geographic boundaries.

As Ars Technica reported last night, "your tax-free days of online shopping are numbered. If S743, also known as the Marketplace Fairness Act, becomes law, the millions of Americans who have been able to avoid sales tax online will have to start paying it. Given the broad support shown by today's US Senate vote, some version of it is likely to come to fruition."

And since a tax is a tax is a tax, it means that the purchasing power of online shopping Americans will be uniformly reduced by some X%, depending on what the final tax structure is agreed upon, which also means that the volume of all online transactions will have to decline by a corresponding amount all else equal, in turn leading to lower overall revenues and profits for online retailers. But at least the Federal government will have more cash to waste on such high ROI generating projects as Solyndra and Fisker.

From Ars Technica:

The bill will compel companies having annual online sales of more than $1 million to collect sales tax on those purchases. Interstate sales have long been exempted from sales tax, but brick-and-mortar businesses have just as long complained about the edge that online businesses have since they avoid collecting taxes. A key opponent of online taxation, retail giant Amazon, recently switched sides after losing some key legal and political battles over taxation. Amazon already collects taxes on sales in nine states, including California, New York, and Texas.

 

"We've had a lot of innovation in the online space, but federal laws have failed to keep pace," said bill supporter Sen. Mark Udall (D-CO). "Today nearly one in ten sales occur online," and the lost sales tax revenue is hurting state coffers. "It just makes common sense... the Marketplace Fairness Act is about equitable treatment for all sales."

 

Opponents have already shifted their focus to limiting the scope of the bill through amendments, but it remains unclear if that will make much headway.

 

"A vote for the Marketplace Fairness Act is a vote to subject a senator's home state Internet [sales] companies to tax collectors in state courts around the country," said Sen. Ron Wyden (D-OR). Instead, states should look to "voluntary compacts" making it easier for companies to voluntarily collect sales taxes, rather than being compelled to do so.

 

In addition, the act is an attempt to apply "local laws to the international medium that is the Internet," said Wyden. That could inspire other countries in their own efforts to regulate the Internet, with taxes or with outright censorship.

Curiously, for all the vocal rejection of "austerity" in recent days following the R&R excel gaffe, the amusing aspect is that European governments had never actually implemented spending cuts (as we have shown in the past here and here), and it was the tax hike component to austerity that infuriated most people. It is therefore amusing to watch as the same people who denounce austerity in Europe and around the world, are those who are pushing for an online sales tax, which as the name implies, is simply another form of taxation, and less real disposable income going to end purchases.

We can't wait to see in one or two years whose excel errors will be trotted out for public consumption when this latest taxation proposal backfires and crushes already razor thin retail margins further, leading to yet another downward economic swoon.

Luckily, by then it will be the Fed that will be the end buyer of not only securities, but goods and services as the central bank insanity takes another step-function leg higher, and when "more of the same" fails to stimulate the economy, the only logical response is to do "much more of the same."

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 04/23/2013 - 11:27 | Link to Comment NidStyles
NidStyles's picture

Yay! Now the economy can comence fully imploding.

Tue, 04/23/2013 - 11:32 | Link to Comment Skateboarder
Skateboarder's picture

Hah, that's child's play. Throw a 20% VAT on top of a 10% online sales tax and now we're talking.

Tue, 04/23/2013 - 11:34 | Link to Comment slimething
slimething's picture

Yep, that's the goal. Tax and tax and spend and spend and re-elect and re-elect.

Tue, 04/23/2013 - 11:36 | Link to Comment francis_sawyer
francis_sawyer's picture

Lemme take a wild guess... It was tucked into the bill that they gave themselves pay raises...

Tue, 04/23/2013 - 11:49 | Link to Comment flacon
flacon's picture

The last straw for me was learning that our "government" is actually a "for profit corporation", much like Wal-Mart, and NOT the original organic government that it was intended to be when the constitution was written. 

 

"...these united states of America" vs.

"The UNITED STATES OF AMERICA"

 

Two completely different entities. 

Tue, 04/23/2013 - 11:53 | Link to Comment Thisson
Thisson's picture

Nonsense.  Stop parroting tripe you read on the internets.

Tue, 04/23/2013 - 12:01 | Link to Comment toys for tits
toys for tits's picture

This thing will have more unintended consequences than imaginable.

1) Krugman's pet inflation lie, the Billion Prices Project, will be fucked.

2) Paying for sales taxes on PM's?

3) As mentioned retaliation from other countries.

 

Tue, 04/23/2013 - 12:15 | Link to Comment whotookmyalias
whotookmyalias's picture

I already pay sales tax on any PM purchases under $1K.

The government has no clue. It looks at tax as easy money and then acts shocked when the unintended consequences arrive.

Tue, 04/23/2013 - 12:18 | Link to Comment NotApplicable
NotApplicable's picture

Honestly, I'm surprised it took them this long, as state and local govs have been crying about this ("losing revenue") since the day Amazon set up shop.

Tue, 04/23/2013 - 12:34 | Link to Comment Abiotic Oil
Abiotic Oil's picture

Amazon will need to lower their progit margins from .0001% to .00001%.

 

Tue, 04/23/2013 - 12:20 | Link to Comment e_goldstein
e_goldstein's picture

Frankly, it does a shitty job of turning a profit and should have gone under long ago.

Tue, 04/23/2013 - 12:44 | Link to Comment Sofa King Confused
Sofa King Confused's picture

If our gov't was a for profit corporation; I think they are doing something drastically wrong.  Unless they see everything in America as their assests.  People, buildings, land, 401 k's, IRA's and all bank accounts.  If that is the case then the debt doesn't look all too bad.

Tue, 04/23/2013 - 14:50 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

The international bankers see everything in the UNITED STATES as their assets.

As an instrument of the international bankers, the UNITED STATES owns you from birth to death. It also holds ownership of all your assets, of your property, even of your children. Think long and hard about all the bills taxes, fines, and licenses you have paid for or purchased. Yes, they had you by the pockets. If you don't believe it, read the 14th Amendment. See how 'free' you really are. 

The UNITED STATES Of America  is a corporation owned by foreign interests

 

Like any debtor, the Federal United States government had to assign collateral and security to their creditors as a condition of the loan. Since the Federal United States didn’t have any assets, they assigned the private property of their “economic slaves,” the U.S. Citizens, as collateral against the federal debt. They also pledged the unincorporated federal territories, national parks, forests, birth certificates, and nonprofit organizations as collateral against the federal debt. All has already been transferred as payment to the international bankers.

The United States exists in two forms...


Tue, 04/23/2013 - 13:01 | Link to Comment aerojet
aerojet's picture

And any court that flies a flag with a yellow fringe around it is an admiralty court whose decisions are null and void.  You still go to jail, though, mysteriously.

Tue, 04/23/2013 - 15:00 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

 A court under admiralty law is like a ship.  Under admiralty law, when a ship is in harbor, and you set foot onto it, you are subject to the whims of the ship's Captain.  You left the jurisdiction of the land behind you and you enter the Captain's jurisdiction.  (This is just an example of admiralty law, assuming it applies to the ship you set foot onto.)

The same applies to an admiralty court, when you set foot into the court room, you are on their turf, and they can do with you as they please.  Even if they drag you there, admiralty law applies as soon as you see the red/white/blue and *yellow*.

 

Their flag it has four colors, four colors has their flag...

Tue, 04/23/2013 - 14:04 | Link to Comment Pseudo Anonym
Pseudo Anonym's picture

and that's not even half of it

our "government" is actually a "for profit corporation",

there's more: http://tinyurl.com/dfztye

Tue, 04/23/2013 - 11:56 | Link to Comment Antifaschistische
Antifaschistische's picture

Maybe they don't realize how much is invested in "internet" stocks.

Do they think this sin will go unpunished in the marketplace?

more 401k/Pension Fund destruction right around the corner...

Tue, 04/23/2013 - 12:20 | Link to Comment NotApplicable
NotApplicable's picture

Marketplace? LOL WUT?

Destruction is here regardless. All they're doing is pretending to "fix" it.

Tue, 04/23/2013 - 13:21 | Link to Comment Long_Xau
Long_Xau's picture

The expected tax revenue is the pay raise.

Hopefully, the actual consequence of the bill is their death sentence.

Tue, 04/23/2013 - 11:36 | Link to Comment docj
docj's picture

Bingo - hello VAT.

And the "conservative" geniuses who are supporting the placement of all the infrastructure necessary to make a VAT a reality will say when it passes "nobody could have seen that coming".

Tue, 04/23/2013 - 12:04 | Link to Comment LasVegasDave
LasVegasDave's picture

This will be a boon for Bermuda, Cayman, Isle of Man, etc., where Amazon, Cheaper Than Dirt, etc. will set up subsidiaries to operate tax free.

stupid congress critters are always behind the curve

Tue, 04/23/2013 - 12:22 | Link to Comment NotApplicable
NotApplicable's picture

That won't work. You either play ball, or else they'll block your IPs from reaching the consumer. Fedgov controls the core routers.

Tue, 04/23/2013 - 12:30 | Link to Comment LasVegasDave
LasVegasDave's picture

its amazing the tax breaks a few well placed campaign donations will buy you.

hang 'em all.

Tue, 04/23/2013 - 13:06 | Link to Comment knukles
knukles's picture

Is the Isle of Man like a Chicago Bath-house?

Tue, 04/23/2013 - 13:20 | Link to Comment LasVegasDave
LasVegasDave's picture

youll have to ask otto.  thats more his gig

Tue, 04/23/2013 - 14:20 | Link to Comment Long_Xau
Long_Xau's picture

It is not like such government actions actually achieve whatever they are intended to achieve. In this case people could just use anonymization networks such as TOR.

Frankly, the more and the sooner the corrupt state tries to use coercive powers, the better. How come? Because every time they use coercive power, they actually become weaker, not stronger. Firstly, they need to spend more resources, and resources are never unlimited. Secondly, a citizen fears more what the state might decide to do in the future, not what they are already doing to him/her (and silently accepting). Thirdly, those who have already seen that what the state does is unacceptable and/or untenable leave the system. The more coercion there is, the more people leave. The more people leave, the less power, resources, attractiveness, etc. their corrupt system has. And also, the more people leave, the more power, resources, attractiveness, etc. the alternative solutions have.

If left unchecked, this develops in a clear positive feedback loop. In other words, a virtuous circle (or vicious, depending on your viewpoint). In other words an exponentially increasing trend. In other words the state better start throwing out laws and regulations and generally lower its footprint in every aspect by yesterday, or else they are history.

Tue, 04/23/2013 - 11:32 | Link to Comment SilverDOG
SilverDOG's picture

 

 

 

Hello bartering !

F U, UASS Govt.

Back to phone ordering.

Trace that, you mother f'ers.

Tue, 04/23/2013 - 11:48 | Link to Comment gorillaonyourback
gorillaonyourback's picture

somebody let the dog out,,,,,,, sic em boy

Tue, 04/23/2013 - 11:31 | Link to Comment Fukushima Sam
Fukushima Sam's picture

Well, I guess I just won't buy as much.

Tue, 04/23/2013 - 11:49 | Link to Comment espirit
espirit's picture

Yep, there goes the ole GDP.

Tue, 04/23/2013 - 12:08 | Link to Comment yogibear
yogibear's picture

They will just adjust it again. It never ever goes negative, 

Better GDP, more debt. Revise it up another 50% and they can add up a lot more debt.

Tue, 04/23/2013 - 13:12 | Link to Comment espirit
espirit's picture

Prolly increase the intangibles tax on intellectual property such as  ZeroHedge for educating the plebes.

Oh wait, that's a VAT isn't it?

Tue, 04/23/2013 - 12:08 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

AMZN long then?  I mean, yeah, gravity seems to not apply regardless of, well, anything, but the sales tax thing is a huge market arb for them that's about to go away.  

That said, short with caution.

Tue, 04/23/2013 - 11:33 | Link to Comment DosZap
DosZap's picture

They are not going to stop until they burn the house down.

Tue, 04/23/2013 - 11:39 | Link to Comment centerline
centerline's picture

Exactly.

Tue, 04/23/2013 - 12:07 | Link to Comment XitSam
XitSam's picture

Of course. That is the plan.

This all seems like we're living in an Ayn Rand novel.

Tue, 04/23/2013 - 12:20 | Link to Comment Vashta Nerada
Vashta Nerada's picture

Are there 'free' cell phones in this bill too?

Tue, 04/23/2013 - 12:24 | Link to Comment NotApplicable
NotApplicable's picture

The house has been on fire for a long time.

Tue, 04/23/2013 - 23:13 | Link to Comment Papasmurf
Papasmurf's picture

They are not going to stop until they burn the house down.

Don't leave out the senate.

Tue, 04/23/2013 - 11:33 | Link to Comment Burt Gummer
Burt Gummer's picture

So does this mean I have to pay sales tax when I buy PM's online?

This is fucking horse shit.

 

https://www.youtube.com/watch?v=ZS2Z19yTuPI

Tue, 04/23/2013 - 11:50 | Link to Comment CH1
CH1's picture

This is fucking horse shit.

It is, but everyone will comply.

So, why should the overlords give a shit about what we think?

Tue, 04/23/2013 - 11:53 | Link to Comment Thisson
Thisson's picture

Who will be our "Aldo" from Planet of the Apes?

Tue, 04/23/2013 - 19:35 | Link to Comment Room 101
Room 101's picture

Interesting piece of trivia....importation of bullion is duty free. 

Tue, 04/23/2013 - 11:36 | Link to Comment smithcreek
smithcreek's picture

Since it will be absurdely complex, most small to medium size businesses will be forced to use a tax collecting service.  Those services, like Amazon already offers to it's "partner" companies will cost about 3% of the tax collected.  So, in the end most businesses will pay for the priviledge to collect taxes for the government.  Nice.

Tue, 04/23/2013 - 12:24 | Link to Comment NotApplicable
NotApplicable's picture

Which, like ALL business expenses, is ultimately paid for by the end consumer.

Tue, 04/23/2013 - 11:36 | Link to Comment Stoploss
Stoploss's picture

Adios E-Bay, adios Amazon.

 

Adios online retailers, it was nice while it lasted.

 

Tue, 04/23/2013 - 12:27 | Link to Comment NotApplicable
NotApplicable's picture

Not quite. Amazon is going to come out waaaaaay ahead from this scam. They will be one of the few entities large enough to profit from this new barrier to entry.

All of their smaller competition will be left with no choice other than to be one of their "partners."

Tue, 04/23/2013 - 13:20 | Link to Comment Silver Bully
Silver Bully's picture

'Amazon is going to come out waaaaaay ahead from this scam.'

EXACTLY. Why do you think Amazon supports this law? And Google? Because it suppresses their competition wihtout hurting the big boys much. And just wait, I bet Amazon's warehouses will get some kind of tax break to help offset the new sales tax. And Google will get some new subsidy hidden somewhere as well. Meanwhile, the small businessman has to contend with new taxes and new tax compliance costs.

This is crony capitalism at its finest.

Tue, 04/23/2013 - 13:38 | Link to Comment Stoploss
Stoploss's picture

Well i was just wondering about all the NEW taxes coming via Obamacare, etc, etc, too many too list here, and how, oh, 90 million people are out of the workforce never to return, who are pretty much broke now any way, with absolutely no hope of ever getting a paying job again, will continue to buy online now that yet another tax is levied.

 

Waaaay ahead. I hope so..

In another year, the government will have to subsidize every single business that happens to be left standing. We will start with AT&T..  They have an itty bitty, teenie tiny, issue.

Tue, 04/23/2013 - 13:01 | Link to Comment Chuck Walla
Chuck Walla's picture

Hey, maybe the Hopium Addicts might start to understand the real nature of their little tin god, B-Rock?

FORWARD SOVIET!

Tue, 04/23/2013 - 13:09 | Link to Comment knukles
knukles's picture

Not A Fucking Chance
They Love and Worship HIM

 

This is so fucking depressing.  Just think, 15 more quarters of this shit.

Tue, 04/23/2013 - 11:27 | Link to Comment slaughterer
slaughterer's picture

Short AMZN after earnings--just like last earnings.  Global online sales tax will burn their ass.

Tue, 04/23/2013 - 11:31 | Link to Comment fonzannoon
fonzannoon's picture

why in the world is it up right now?

Tue, 04/23/2013 - 11:37 | Link to Comment Vashta Nerada
Vashta Nerada's picture

AMZN is lobbying for this bill.  They expect to sell the necesary tax software to the small businesses that will be impacted.  They also expect many of these small competitors to go under, leaving the business for AMZN.

Tue, 04/23/2013 - 11:39 | Link to Comment gatorengineer
gatorengineer's picture

Actually it will drive small businesses to use their infrastructure....

Tue, 04/23/2013 - 11:47 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

The only step Amazon can take is to help finance suppliers, perhaps through reducing its cut of the price or by proprietary lending. 

As an aside, I wonder how much Chinese product funnels through Amazon that would never make it to a geographically remote shelf.

 

Tue, 04/23/2013 - 12:02 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

Short Facebook............

http://www.dailymail.co.uk/news/article-2313367/CISPA-Amendment-US-cyber...

 

So now, your employer can demand your social media passwords.......

 

(and no, i dont use facebook/social media)

 

Tue, 04/23/2013 - 12:08 | Link to Comment XitSam
XitSam's picture

Facebook? Ha ha, I'm shorting government.

Tue, 04/23/2013 - 13:14 | Link to Comment Common_Cents22
Common_Cents22's picture

Amazon Web Services will benefit.   Shit gets too complicated for small/med business so they'll outsource and use AWS for compliance.   

Then you know the IRS will have much of your precise PURCHASE HISTORY.

 

Tue, 04/23/2013 - 11:34 | Link to Comment Everybodys All ...
Everybodys All American's picture

Ebay, Dell, Apple, etc. This economy is a ship wreck.

Tue, 04/23/2013 - 11:34 | Link to Comment Gene Parmesan
Gene Parmesan's picture

They certainly don't seem to have enough margin to be able to survive it unscathed.

Tue, 04/23/2013 - 12:31 | Link to Comment NotApplicable
NotApplicable's picture

Are you forgetting the sizable margins they'll have on selling this new tax paying service? I can't imagine that there's anyone else ready to compete with them.

Tue, 04/23/2013 - 13:22 | Link to Comment Silver Bully
Silver Bully's picture

'Short AMZN after earnings--just like last earnings.  Global online sales tax will burn their ass.'

No it will not. Why do you think Amazon supports this bill? Hint: it ain't stockholm syndrome.

Tue, 04/23/2013 - 11:27 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Sounds like they're trying to resurrect the secession movement...

Tue, 04/23/2013 - 12:47 | Link to Comment NotApplicable
NotApplicable's picture

One casus belli is as good as another.

We might actually get to see a REAL civil war in the US someday.

Tue, 04/23/2013 - 13:37 | Link to Comment mr. mirbach
mr. mirbach's picture

Exactly! The "Civil War" was fought over Territorial Jurisdiction. This is outrageous...

 

Tue, 04/23/2013 - 11:27 | Link to Comment I Am Not a Copp...
I Am Not a Copper Top's picture

Amazon already charges me tax so who cares?

Tue, 04/23/2013 - 11:50 | Link to Comment krispkritter
krispkritter's picture

That rectal-cranial inversion chair you got from them for Christmas is working beautifully...don't change a thing!

Tue, 04/23/2013 - 12:00 | Link to Comment Dr. No
Dr. No's picture

You always have to option to send a check to the government.  For the rest of use who like to keep our money, we discourage addtitional taxes.

Tue, 04/23/2013 - 11:28 | Link to Comment random shots
random shots's picture

Dead Weight Loss, Bitches!

Tue, 04/23/2013 - 11:29 | Link to Comment tarsubil
tarsubil's picture

They just keep pushing. How much more are we going to take?

Tue, 04/23/2013 - 11:28 | Link to Comment StarTedStackin'
StarTedStackin''s picture

What are YOU going to do about it?

Tue, 04/23/2013 - 11:29 | Link to Comment syntaxterror
syntaxterror's picture

Plenty of States don't charge sales tax. Easy problem to solve.

Tue, 04/23/2013 - 11:34 | Link to Comment tarsubil
tarsubil's picture

Buy gold and silver and ask bank for cash in the form of nickels. Every little bit counts.

Tue, 04/23/2013 - 13:00 | Link to Comment StarTedStackin'
StarTedStackin''s picture

I can up arrow that!

Tue, 04/23/2013 - 11:33 | Link to Comment mayhem_korner
mayhem_korner's picture

They just keep pushing. How much more are we going to take?

 

I think the question is how much more are THEY going to take.

Tue, 04/23/2013 - 11:35 | Link to Comment tarsubil
tarsubil's picture

That's easy to answer. Everything.

Tue, 04/23/2013 - 11:56 | Link to Comment krispkritter
Tue, 04/23/2013 - 11:33 | Link to Comment fonzannoon
fonzannoon's picture

I just saw this elsewhere from someone who is in the internet sales biz.

 - gonna be an accounting nightmare for us, people will still buy online though, people are lazy

Tue, 04/23/2013 - 11:35 | Link to Comment Everybodys All ...
Everybodys All American's picture

No they won't because the shipping cost which used to be paid for will no longer because the "savings" from the tax will no longer be there. Therefore the online advantage will become a price disadvantage.

Tue, 04/23/2013 - 11:59 | Link to Comment Thisson
Thisson's picture

I gave you an uparrow even though I would note that in some cases it might still be cheaper to get the stuff online, because in some cases retail rents are so much higher than the combined shipping and tax.

Tue, 04/23/2013 - 12:12 | Link to Comment XitSam
XitSam's picture

Plus greater selection and ease of purchase online. Buy in your bathrobe. 

Tue, 04/23/2013 - 13:19 | Link to Comment Common_Cents22
Common_Cents22's picture

I think brick and mortar retail will be a hybrid, something like circuit city or the old service merchandise where they were showrooms and you got the merch from the warehouse part of store.  Maybe showrooms w/ large central warehouses that deliver to your home.

Tue, 04/23/2013 - 13:32 | Link to Comment Chuck Walla
Chuck Walla's picture

Exactly, losing the advantage of no tax will kill quite a few internet merchants. Maybe that's Obama's plan, more joblessness, more dependency, more votes for Santa.

FORWARD SOVIET!

Tue, 04/23/2013 - 11:37 | Link to Comment tarsubil
tarsubil's picture

Increased cost of conducting business and more tax on all sales. What a great recipe for economic growth. I understand though since the government can just print its money, it makes perfect sense to slow down the economy to collect more money. What a total crock o' shi'.

Tue, 04/23/2013 - 11:38 | Link to Comment Vashta Nerada
Vashta Nerada's picture

According to Keynesian theory, you not only aren't spending enough, you aren't spending on the right things, so better for them to take your money and spend it correctly.

Tue, 04/23/2013 - 11:52 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

Not so much the laziness, its the availability of product, the spread of awareness of product, the product reviews - it's like a "wikiproduct" catalogue. 

Amazon basically solves many tangles of marketing+distribution, by giving potential consumers a storefront to browse and backing it up with extremely responsive product offerings and fast pick-n-pack distribution.  You go on Amazon because the stores near you just can't put the product you want out there to buy as responsively as Amazon can. 

They do that better than anyone, at retail price points (whereas eBay is largely used, bargain, discount, etc).

Tue, 04/23/2013 - 19:30 | Link to Comment Room 101
Room 101's picture

They'll just buy it from Canada or Mexico and avoid the issue entirely. 

Tue, 04/23/2013 - 11:28 | Link to Comment StarTedStackin'
StarTedStackin''s picture

'Busch's fault'

 

 

Since it happend during the Obowel Movement!

Tue, 04/23/2013 - 11:33 | Link to Comment wee-weed up
wee-weed up's picture

Obummer...

“I can make a firm pledge, Under my plan, no family making less than $250,000 a year will see any form of tax increase."

Yeah, right!

Tue, 04/23/2013 - 13:02 | Link to Comment StarTedStackin'
StarTedStackin''s picture

What HASN'T the Obowel Movement lied about?

Tue, 04/23/2013 - 13:03 | Link to Comment knukles
knukles's picture

They even said he was black....

Tue, 04/23/2013 - 11:28 | Link to Comment firstdivision
firstdivision's picture

Better believe it will happen.  The governments of the world need moar money.

 

OT: Goldman says go long gold, and short oil.....http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=logarith...

Tue, 04/23/2013 - 12:36 | Link to Comment NotApplicable
NotApplicable's picture

Well great. Gas just got back down to what I consider the floor (RBOB $2.75), and here comes the Vampire Squid.

Tue, 04/23/2013 - 11:28 | Link to Comment Rustysilver
Rustysilver's picture

So what happens to states that don't have sales tax, i.e., NH. We becoming the United States of Europe.

Tue, 04/23/2013 - 12:01 | Link to Comment Thisson
Thisson's picture

States like NH will have to file a lawsuit saying that this statute is unconstitutional and infringes on their 10th amendment rights - or somethin' like that.

Tue, 04/23/2013 - 11:29 | Link to Comment slaughterer
slaughterer's picture

When is the AAPL flash crash scheduled for today?

Tue, 04/23/2013 - 11:50 | Link to Comment Chief Falling Knife
Chief Falling Knife's picture

4:20ish?  idk... However, I wouldn't be surprised if it skyrocketed along with all the other BS.

My info says Consensus estimates for AAPL are for EPS of 10.15 .. (which would be a 17% loss yoy) .. and consensus revenue of 42.77 billion ..(a 9% increase yoy)

So expectations aren't high.  And in this market, if EPS beats by a penny, it'll probably ramp $30.  WTFN

Tue, 04/23/2013 - 11:30 | Link to Comment Jason T
Jason T's picture

More taxes and confiscation of assets.. man.. of course, make all illegals citizens and then tax the shit out of them too.  

Tue, 04/23/2013 - 11:44 | Link to Comment SgtSchultz
SgtSchultz's picture

With apologies to Henny Youngman "take my money please"

Tue, 04/23/2013 - 12:52 | Link to Comment RafterManFMJ
RafterManFMJ's picture

Yea those illegals really contribute to the tax base and don't suck on social services and welfare like a seething roiling mass of B movie mutant ticks.

I think you should pick today as the right day to stop sniffing glue JasonT

Tue, 04/23/2013 - 11:33 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

<---- Buy less Crap you don't need.

<---- Move to state w/o sales tax.

Act on one or the other. Whining is optional.

Tue, 04/23/2013 - 11:38 | Link to Comment Jason T
Jason T's picture

Add make your own... or Brew your own : )

Tue, 04/23/2013 - 11:39 | Link to Comment docj
docj's picture

I'm in the "Buy less iCrap" camp. Solidly.

Cash-only, local (driving distance) only from now on.

Oh, and Bezos can DIAF. I've just made my last-ever purchase from Amazon.

Tue, 04/23/2013 - 11:31 | Link to Comment Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Bitcoin bitchez. Forget about the tax avoidance advantages as a merchant just think how much less you need to bake into your online price when you don't have to pay fees to the bank for using a debt or credit card.

Offshore bazaars like in China where the sellers can hide their locality to avoid internet tax. There is all sorts of ways around this. The best and brightest will find workarounds you can bet on that.

Tue, 04/23/2013 - 12:37 | Link to Comment NotApplicable
NotApplicable's picture

You mean those criminals? LOL

Guess what? All of these new tax dollars will be used to hire more tax agents and buy more software for them to catch all of the "cheaters."

The rest of course, will be spent on the children, so that we all learn to hate teh ebil tax evaders.

Tue, 04/23/2013 - 13:52 | Link to Comment Silver Bully
Silver Bully's picture

'Bitcoin bitchez.'

The entire world economy is dominated by digital fiat currency and you want to skirt around taxes with . . . a digital currency. When the powers that be tire of poking the bitcoin fetus with a stick, they'll either shutdown, overregulate, or outright take control of Mt Gox, which controls over 80% of all BTC currency exchange. The speculators will split, the exchange rate will crash, and the only ones left will be the die-hard true believers, stuck with a currency no one else has a lick of confidence in. And bitcoin will become what it is fated to be: a historic novelty.

Yeah, good luck with that.

Tue, 04/23/2013 - 11:31 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Taxation is more about controlling behaviors (and monitoring them, these days) than it is about money.  It's certainly not about balancing the budget.

Tue, 04/23/2013 - 11:41 | Link to Comment tarsubil
tarsubil's picture

The most important domestic behavior? Use of FRNs to conduct business transactions. It is also the most important foreign behavior. Gonna need a couple more wars to protect that one.

Tue, 04/23/2013 - 11:32 | Link to Comment MisterA
MisterA's picture

MOAR TAXES! FAIR SHARE N STUFF!

Tue, 04/23/2013 - 12:06 | Link to Comment Dr. No
Dr. No's picture

The logical end is 100% taxes on everyone.  That is fair in a sense each person is affected equaly by the tax.  Progressive!

Tue, 04/23/2013 - 11:31 | Link to Comment Dr. Engali
Dr. Engali's picture

 

 "Today nearly one in ten sales occur online," and the lost sales tax revenue is hurting state coffers. 

 

I don't give a rat's ass bout the state coffers. The state needs to shrink and spend within their means.

Tue, 04/23/2013 - 12:40 | Link to Comment NotApplicable
NotApplicable's picture

"their means" = "hollow point supply"

Tue, 04/23/2013 - 11:31 | Link to Comment exaengr
exaengr's picture

Great. Even more California-sheeple will move to Oregon now...

Tue, 04/23/2013 - 11:38 | Link to Comment jim249
jim249's picture

I am an Idaho sheeple that just bought a house in Oregon.

Tue, 04/23/2013 - 11:48 | Link to Comment SilverDOG
SilverDOG's picture

Both of you buy a dosimeter. Fukushima is still nuking the west coast. Especially pacific northwest.

 

 

Tue, 04/23/2013 - 11:32 | Link to Comment fuu
fuu's picture

The "here and here" links are not working.

Tue, 04/23/2013 - 11:40 | Link to Comment francis_sawyer
francis_sawyer's picture

Whaddaya expect?... It's not a GW thread...

Tue, 04/23/2013 - 11:33 | Link to Comment Dagny Taggart
Dagny Taggart's picture

Just a matter of time it was... If the State of Maryland can tax the rain water, then everything is taxable.

Tue, 04/23/2013 - 11:36 | Link to Comment DosZap
DosZap's picture

If the State of Maryland can tax the rain water, then everything is taxable.

Taxing rainwater, LOL

Who do they bill GOD?.( I do agree w/u though).

Tue, 04/23/2013 - 11:39 | Link to Comment Dagny Taggart
Dagny Taggart's picture

It appears one need NOT be a diety, but merely be in possession of a... wait for it... driveway.

http://www.webpronews.com/maryland-rain-tax-goes-after-residents-with-driveways-2013-04

Tue, 04/23/2013 - 11:46 | Link to Comment tarsubil
tarsubil's picture

I know a guy who is trying to sell a house in Cabin John and just doesn't want to take a hit on the sale. People just need to get out of that God-forsaken place.

Tue, 04/23/2013 - 12:01 | Link to Comment Dagny Taggart
Dagny Taggart's picture

I was informed within the past week by an agent for a busy moving company that there had been a unusually large volume of people in the DC burbs getting out of of dodge. She said it was strange because aside from the usual flux of people to the west coast, Texas and Florida, there had been quite a few headed for the hills... Montana, Colorado... she had no idea why.

Those that seem to know are going.

Tue, 04/23/2013 - 12:28 | Link to Comment krispkritter
krispkritter's picture

Thought the same thing myself but coming from Florida, prices are crushed here.

Tue, 04/23/2013 - 13:48 | Link to Comment tarsubil
tarsubil's picture

Yeap. The rats are jumping the sinking ship.

Tue, 04/23/2013 - 12:21 | Link to Comment Dr. No
Dr. No's picture

It seems the goal to reduce run-off into the Chesepeak bay.  Therefore, I recommend they gather up the rain water and truck it off site, to a holding area.   They can then monitor the rain water effects longer term.  Bureaucrat's wet dream. The good news is the system will collapse that much faster; there really is no other way to stop this.

Tue, 04/23/2013 - 12:29 | Link to Comment krispkritter
krispkritter's picture

God forbid you have a 'high capacity driveway'.  You know, a parking lot...

Tue, 04/23/2013 - 13:59 | Link to Comment de3de8
de3de8's picture

Actually some counties will calculate ALL impervious areas, (drives,roof tops, patios,sidewalks etc.) using satellite GIS. Will charge $15/impervious unit. ( impervious unit = 500sf) . More do nothing gov't jobs to do and track calcs.

Tue, 04/23/2013 - 12:42 | Link to Comment NotApplicable
NotApplicable's picture

Lots of places have stormwater taxes (almost 10 years where I'm at). Soon to be every place it rains.

Tue, 04/23/2013 - 13:04 | Link to Comment Dagny Taggart
Dagny Taggart's picture

I had no idea. Perhaps if the drought conditions continue, they will find a way to tax the sunshine or the wind for good measure.

Tue, 04/23/2013 - 11:33 | Link to Comment Magnum
Magnum's picture

I'll go against the grain and say that Amazon's strategy of quietly paying shit wages to a group of slave-like zombie order fillers in secretive warehouses has done enough to wipe out the small independent character of this nation's retail business.  Stick Amazon with a tax, and it might not be too late to stimulate small community retail establishments again.  As long as the tax is paid to state treasury not Washington DC I support it.

Tue, 04/23/2013 - 11:39 | Link to Comment Clycntct
Clycntct's picture

Or maybe we should look at the circle jerk that created the loss in the first place. We could have not wasted our communities businesses.

Now like a dog chashing his tall we will cure the catch.

Tue, 04/23/2013 - 11:39 | Link to Comment JebusKhrist
JebusKhrist's picture

Magnum, is that the condom size of your lover? "shit wages" "secretive warehouses" "small independent character" STFU bitch.

Tue, 04/23/2013 - 12:10 | Link to Comment Thisson
Thisson's picture

You are out of your mind!  What's wiping out the "small independent... retail businesses" are the high taxes and costs of supporting this crony-ridden fascist state.  Raising taxes is not going to help a damn thing.  The only way to improve the economy is to improve higher real wages.  The only way to improve real wages is to increase production so there is more to go around.  The only way to increase production is to increase productivitity.  And the only way to increase productivity is to eliminate waste.  We can all agree that the single greatest source of waste is government spending, and this is what needs to be reduced, so that spending can be channeled through the private sector and allocated more efficiently.

Tue, 04/23/2013 - 12:43 | Link to Comment NotApplicable
NotApplicable's picture

Sir, please step away from the Kool-Aid.

Put as many conditions on the idea as you like. However, you'll never escape the fact that you're still contradicting yourself.

Tue, 04/23/2013 - 13:26 | Link to Comment Magnum
Magnum's picture

I know what I'm talking about and I mean every word I said.

Tue, 04/23/2013 - 11:34 | Link to Comment Rory_Breaker
Rory_Breaker's picture

 We are already paying 12.5% VAT on online purchases here in India.

 

: - (

Tue, 04/23/2013 - 11:56 | Link to Comment espirit
espirit's picture

So sad, but also in our future here in the US.

Tue, 04/23/2013 - 12:48 | Link to Comment zerozulu
zerozulu's picture

TPTB is working hard to make this country like India.

Tue, 04/23/2013 - 12:49 | Link to Comment zerozulu
zerozulu's picture

and than Somalia will not be a farfetched dream.

Tue, 04/23/2013 - 11:35 | Link to Comment jim249
jim249's picture

Amazon: Analyst earnings expectations .09 per share. Stock selling at $265 per share. Now sales tax to collect. Bullish!

Tue, 04/23/2013 - 11:39 | Link to Comment Everybodys All ...
Everybodys All American's picture

They lose money right now. This is an easy short unless Bernanke buys the entire market.

Tue, 04/23/2013 - 12:03 | Link to Comment jim249
jim249's picture

I would not short any thing now. Bernake will buy the entire market if he has to.

Tue, 04/23/2013 - 12:45 | Link to Comment NotApplicable
NotApplicable's picture

Given the leverage present (and various proxies), I'd say he already has.

Tue, 04/23/2013 - 11:35 | Link to Comment Clycntct
Clycntct's picture

"Today nearly one in ten sales occur online,"

Alrighty then lets cut your states budget by 10% See how easy that was.

Tue, 04/23/2013 - 11:34 | Link to Comment unwashedmass
unwashedmass's picture

 

probably doesn't matter all that much as the peasantry doesn't have much left to buy anything other than groceries.....and even then, they are using food stamps now. so.....they can tax away.....and get nothing much. 

Tue, 04/23/2013 - 11:35 | Link to Comment jayman21
jayman21's picture

They represent us???  Who wants another tax???

Tue, 04/23/2013 - 11:35 | Link to Comment Lendo
Lendo's picture

Long Amazon

 

/s

Tue, 04/23/2013 - 11:37 | Link to Comment the not so migh...
the not so mighty maximiza's picture

the goverment is still going bankrupt no matter how many taxes it passes into law. 

Tue, 04/23/2013 - 12:54 | Link to Comment zerozulu
zerozulu's picture

economic 101-01. once budget deficit is more than 3% it cannot be balanced. economic 101-02 once loan is equal to the GDP, cannot be paid.

Do NOT follow this link or you will be banned from the site!