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Amazon Folds In California Sales Tax Deal
theodp writes "In a deal indicating all sides appear ready to call a truce, the San Jose Mercury News reports that Amazon.com is offering to back down from its referendum drive to repeal an online sales tax in exchange for a one-year moratorium on collecting the tax. Under the deal, Amazon would agree to begin collecting the tax from California residents in September 2012, unless Congress takes action on Internet sales taxes before then. The development comes a day after a NY Times editorial ripped Amazon over its sales 'tax dodge.'"
Are you fucking kidding?
The Blue states are the only ones making any money. The red states are propped up with farm subsidies and other federal welfare.
The "leftist" state of Germany is the biggest economy in the EU, they are pretty much the only thing keeping it solvent.
Um... I think you need to look at a US map... because what you said is exactly the opposite of what is true here.
http://money.cnn.com/news/storysupplement/economy/state_debt/index.html
http://www.nytimes.com/interactive/2008/11/17/us/20081117_budget_graphic.html
http://en.wikipedia.org/wiki/File:Red_state,_blue_state.svg
The blue states tend to be in the most debt.
Because of those subsidies I mentioned.
Take a look at who gets how much federal funding for each dollar they send to the fed in income tax.
http://taxprof.typepad.com/taxprof_blog/2004/09/red_states_feed.html
Sales tax does not work for securities and investments.
If securities were taxed at 30% when you purchased it, it would mean that you have to get a 30% return on your money to break even. Stock traders would not exists because they would have to pay taxes every time the purchase something, even if they lose money. Commodity markets will fail for similar reasoning. If you are a middle man who can add 10% value to a product and resale it, you would still lose money.
Income tax is much more appropriate in these scenarios because you only are taxed on the money you gains. If you buy something at $100 and sell it at $110, you are only taxed on 10 dollars of income. With a sales tax, you make $10 in income but have to pay $30 in taxes resulting in a net loss of $20.
1. The tax foundation.
http://www.taxfoundation.org/research/topic/92.html
for an updated one. A major news outlet is about the least worthwhile source ever.
http://www.taxfoundation.org/research/show/22685.html
That is sourced from the census consolidated federal funds report from 2005.
Here is a link to that.
http://www.census.gov/govs/cffr/
Page 23 of the 2009 report should prove interesting to you.