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Re: "Time to Walk the Walk down the Gang Plank"
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In <v03102801aff48a1390fc@[207.167.93.63]>, on 07/17/97
at 07:54 PM, Tim May <[email protected]> said:
>At 7:36 PM -0700 7/17/97, Mac Norton wrote:
>>On Thu, 17 Jul 1997, Tim May wrote:
>>>
>>> Taxes are already essentially uncollectable, even in interstate
>>> transactions, so the moves by Summers and Magaziner are truly token
>>> gestures.
>>
>>
>>Uh, Tim, corporate and personal income taxes are still rather
>>well collectible, and that my be the reason the federal gov't
>>doesn't worry too much about taxing the Net. State, and even
>>more so local, gov'ts do not have the same collectibility
>>advantage. And the locals are often revenue-starved and
>I meant that taxes are essentially uncollectable for interstate
>transactions like mail order purchases.
>I buy several thousand dollars worth of stuff each year by mail order,
>and only a few hundred bucks worth of it has been taxable.
>My state, California thinks I should either send them a check for 8.25%
>of all that I have purchased, or that the vendors in New Hampshire, Ohio,
>etc. should send them such a check....we all ignore this notion, and
>there is little to be done. It is this sort of "tax arbitrage" I was
>drawing a very real parallel to.
>Most "tax the Net" talk I hear about is about taxing Net commerce (as
>opposed to, say, placing a per minute tariff on Net connections). Hence,
>my point.
>I wasn't referring to either corporate or personal income taxes, which
>have little or nothing to do with the Net.
Actually with some "creative" accounting one can make use of the net to
cirumvent large amount of corporate & personal income tax. :)
It is quite possible to set up virtual corporations who's complete
bussines is done over the wire. While some setions of industry can benifit
from this more than others I see in the future a large section of the
revenue stream migrating offshore to various taxhavens beyoned the reach
of the little piggies in DC. :)
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