If there was a requirement for the Senate to accurately name their bills, the “Marketplace Fairness Act” would be called the “Start Taxing the Internet to Raise More Taxes Act”.
In case the chatter from other problems ( a US Ambassador dying at Benghazi, IRS harassing the Tea Party, NSA spying on Verizon customers, etc. ) has obscured this one, here’s a short list of reasons to hate this Act:
1) Taxes the internet in an attempt to level the playing field for brick and mortar retailers that are having trouble competing. The Senate is concerned that internet businesses have an unfair advantage over brick and mortar retailers and feel compelled to do something about it. I’m not sure which amendment to the Constitution compells them to right this wrong but I’m sure that the world’s greatest deliberative body has given it a great deal of thought.
2) Taxes the internet to give municipalites and states more money to waste. Don’t get me started.
3) Confusing to the Stupid Party – you know, the one that’s all for personal freedom and against statist control. Vote breakdown was 21 yes, 22 no, and 2 MIA. I recommend using smaller words in the future.
4) Drastically decreases the size of a “small” business from a generally accepted definition of at least $30 million ( SBA – SIC code 454111 ) all the way down to $1 million. Wouldn’t want to let anything go to waste, would we?
5) Puts a new, additional burden on internet businesses to figure out how much tax to collect in the thousands of tax regions in the US.
6) And my personal favorite – has a really fuzzy definition of “remote sellers” and “sales” that could allow states to begin taxing all of your financial transactions.
About the only thing to like here is that it makes it real easy to decide how to vote in the next two Senate races.