There are credible rumors that after the election concludes, Senator Mitch McConnell intends to allow passage of the Marketplace Fairness Act in the Senate. That legislation would result in a massive tax increase on the American public and would punish small businesses that have found they can compete online effectively against major American retailers.
The legislation would impose a sales tax on the internet. Its authors know the legislation is so onerous and burdensome that they felt the need to exempt businesses until they reach a sales threshold. Why? Because any business that competes online would have to pay sales taxes into the states of any customer. Imagine the paperwork headache for a small business in Vermont that sells items across the nation. It would have to remit taxes to all the states.
The legislation is backed by major retailers like Walmart and even by companies that provide tax software because they recognize it would be a boon to their business. Walmart, it should be noted, also supported Obamacare and opposed religious liberty legislation across the nation.
Companies like Amazon.com have found they are now so large that they can and do pay sales taxes. But small companies online would be put at a competitive disadvantage. Time and time again, lobbyists bought and paid for by Fortune 500 corporations collaborate to find ways to hinder upstart competition.
Mitch McConnell should tell us whether or not he will bring the Marketplace Fairness Act up for a vote. Voters should know the lame duck agenda now if there is going to be one instead of waiting until after the election to screw the voters and taxpayers of America.