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New York Tax is Camel’s Nose in the Tent
by Andrew McCaskey
The announcement of the “Amazon Tax” in New York – which is said to be able to raise $50 million for the state taxing internet commerce is the camel’s nose in the tent. Unless challenged and struck down, there can be no more destructive effect on the economy at a time when the economy is on the ropes.
Instead of one tax code, an internet retailer will have to account for around 7400 different variants around the country. If that won’t put a damper on the internet economy, I can’t imagine what would.
Not only that, I can imagine New Yorkers taking a close look and considering just one more reason to move their businesses and themselves out.
Congress has at least had enough sense to pass temporary moratoriums on taxing internet commerce for the past few years. I don’t know how New York has been able to weasel around this law, but I wish them no success whatever.
Not that I think that politicians in Indiana or Illinois or any of the other states would hesitate to jump on the New York bandwagon in a hot second.
The economy is issue number one – and taking close aim at your foot is not the way to start dealing with it.
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