An internet sales tax would cost consumers billions of dollars, kill American jobs by forcing online retailers out of the country, and would be a boon to China’s internet retail giant, opponents say.
“The internet is the great equalizer,” Sen. Ted Cruz, R-Texas, said Tuesday. “The internet has democratized small business. Unfortunately, wherever freedom flourishes, Washington gets nervous. And almost inevitably, regulators and tax collectors see people prospering on the internet, and they want to tax it, regulate it, and otherwise stifle its growth.”
“That would be a serious, serious mistake,” said Cruz. “One of the critical reasons the internet has flourished and driven the economy worldwide is that it has been free of taxes and free of unnecessary government regulations.”
The rationale (the tax is supported by President Trump, by the way) is that it will penalize retailers without a physical presence in a state, like Amazon, who (proponents say) are stealing business from in-state retailers and resulting tax income from the state.
The way I see it, it will steal money from my pocket. What do you think?