Price Controls Coming
Surprise, surprise… the completely insolvent US government has yet another idea to raise revenue in the Land of the Free: a new tax!
The Marketplace Fairness Act was introduced some time ago, and we’ve discussed it before. But it’s now being rushed through Congress as quickly as possible.
It’s aim? To collect sales tax for online transactions. And in addition to being financially debilitating, the bill is also a bureaucratic nightmare.
Just imagine– if passed, online retailers will have to collect a different tax for every customer based on his/her location, keep track of it all, pay the correct amount to dozens of state governments, AND file periodic reports to each of them.
It borders on the absurd. Naturally, though, the Obama administration “strongly supports” the bill because it will “level the playing field” for mom and pop shops on Main Street.
