The 'We're-Really-Not-Raising-Your-Taxes' Tax

The Senate of the United States is currently debating the so-called Marketplace Fairness Act. Doesn't that sound nice? I mean, who could possibly be against fairness in the marketplace. The essence of the bill is the repeal of the sales tax exemption for any online purchases. Of course if you ever purchase anything online, the cost of that item will go up by way of sales taxes. Oops, I of course meant they will increase because of "fairness". Current law says that state sales taxes, county sales taxes, and city sales taxes (and for all I know there is a hamlet somewhere in America that also has its own sales tax), do not apply to purchases made over the internet. So to encourage "fairness", the exalted members of the Senate want to increase the tax on online purchases from zero to whatever cumulative sales tax rate applies in your jurisdiction. It sounds so simple, doesn't it? After all, your small, local, mom-and-pop type merchant can manage to charge the right amount of tax when...(Read Full Article)