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And the speaker of course will have his hands full as this Internet sales tax bill heads into the house.
Joining us now is our lap for former economic advisor to President Reagan who gives.
Internet sales taxes a thumbs up our block.
Well let me just say that I don't give the Internet sales tax the thumbs up unless it is offset.
By a tax rate.
Reduction you know what you should do dig in -- you should tax all sales of the exact same rate but this should not be an excuse for raising taxes and general.
And I believe the Judiciary Committee in the house is ready considering.
Making it a requirement that they lower the sales tax rate so that it's not a tax increase but.
When you do this you -- want a broad based -- rate tax which is what the sales tax should be -- which is not.
Internet -- should be -- but at a low rate along with all other sales tax but then you would have.
Congress dictating what.
Localities and states charge for -- an individual sales taxes how shut it off well.
Well they already do what they've exempted them in the houses and senate have exempted sales Internet sales from state and local sales taxes.
And that they can do that they surely can require the conditions.
For which those state and local sales taxes would apply to Internet sales there's just no reason why that's any different -- there any reason why that would fly now.
I'll -- I think a lot of the people in the house.
Are very worried about allowing state and local governments to tax Internet sales because it -- us a total tax increase.
But if you made -- a static revenue neutral where you tax the Internet sales along with the states at a lower rate.
So there was static revenue neutral I think you get all the house members to vote for you but what about that it had to go back to the senate because that's not what the senate voted on.
No other senate did not vote on the full bill that I would like to see.
I would like to see it literally revenue neutral it's just like Simpson as some some of the -- -- -- or any of these -- we want lower rates on a broader base.
Putting Internet sales on that broad base is the right thing to do.
But that you've got to lower the rate to make it not a tax increase and that's exactly what I'd like to -- But if that doesn't have -- and would you submit -- and then not in favor of moving ahead with the version of this bill.
That the senate approved if it is a straight tax increase I would not.
Approve of it.
How I would -- -- embrace it says taxes exist today and the people of those states can make online purchases from -- not in those states.
Failed to pay that tax it really you're supposed to pay yet.
It's just not collected by the retailer.
And a lot of angles ipads exists yet and the people are high in that have that -- was incurred.
Yes well it is a tax increase -- they're not -- it did not -- in the attacks and if they do start paying it they would start paying it so it would -- attacks agrees but I don't want out of anyone whose tax avoiding.
Anywhere in the -- could even Amazon.com.
Sees the writing on the wall they collect.
These all not just sales taxes in nine states it goes up to -- sixteen in January so.
It's just that if you if you're buying anything from a retailer you gotta pay your sales tax on what is -- you live.
-- you should date and that's true but it should be at a lower rate so it's not a tax increase.
I mean the Internet sales have been exempted from sales taxes about the federal -- and -- to have.
That's right exactly and you know what this would do would be reversed that.
And if they reversed that and then lower the -- I'm a 100% of them I think the sales tax is a bad tax but one of the least bad taxes.
And it's one of the best taxes to be used for collecting the revenues -- at local governments need to collect itself.
That I would support but not as an add on states don't need to raise taxes to believe me when I tell you they need to control spending.
And it's not a tax revenue issue it's a fairness issue it's an efficiency issue.
On the tax base that's what I'd love to see art great does that -- -- but does.
I'm just saying I am is not -- happen I disdain for being well in a different world not gonna happen art thank you my that you -- you know what Powell.
Well I'll give me a big kiss on the cheek if it does our -- well -- -- -- -- but I'm still gonna talk about the perfect world -- -- the -- world thanks vegan yet.
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