dumb money 76

Amazon/Overstock Gamble May Pay Off

I agree with Nima. What the amazon tax does is it closes a tax loophole, which may seem bad if you are enjoying the loophole like the author seems to be, but trying to make it seem that there is an argument is based on the claim that the law will be bad for the businesses in the state is ridiculous. This new law levels the playing field between internet companies that can get away without charging tax and currently are enjoying record profits, and the brick and mortar companies located in the state, that currently have to charge tax, which makes it hard to compete. Also, it is not that you currently have a right to not pay tax, the reality is that even without the new law, new yorkers are still supposed to be paying sales tax when they purchase from these companies. This law is just currently not being enforced. The argument that Overstock stopping it's New York affiliates will hurt businesses in New York, shows that they do actually have a presence in the state and thus should not get special benefits. I would be all for a flat tax or even no tax, but it does not seem right to have a loophole to allow some companies to operate without charging tax is not fair, and stacks the deck against the companies that are located in the state.