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The Internet tax bill (Marketplace Fairness Act) passed a Senate vote 69 to 17 but faces a much...

The Internet tax bill (Marketplace Fairness Act) passed a Senate vote 69 to 17 but faces a much bigger obstacle in the House where some members are expected to draw the line on what they call a tax increase. If the bill ultimately succeeds, retail analysts see a marginal benefit for the retailers that are hit the hardest by the "showrooming effect" - Best Buy (BBY -0.8%), Bed Bath & Beyond (BBBY +0.1%), and PetSmart (PETM +0.4%) come to mind - while pegging eBay (EBAY -0.3%) as a company that might have the most to lose.
Comments (1)
  • What a joke... "Marketplace Fairness Act" really means increased government revenue followed by more wasteful spending, this time on the state level. If fairness was really the issue, since you're increasing the tax base by something like 6%, by imposing an online tax, that would then dictate an overall reduction in sales tax rates, to keep the revenues inline. Instead, the states are salivating, in all "fairness", at the thought of increased revenues, lol.
    7 May 2013, 12:48 PM Reply Like
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