2013 has become the year of higher taxes as Congress continues to push through higher tax burdens on the public in an effort to control and bring down the nation’s astronomical debt pile. Earlier in the year, Congress implemented higher income taxes for those earning over $450,000, which is expected to reduce the deficit by some $620 billion over 10 years, far less than Obama’s $4 trillion in deficit reduction goal. And next on the list for Congress is targeting one of the largest and most popular markets: the Internet [see The Cheapest ETF for Every Investment Objective]. Last week, the U.S. Senate voted to pass the Marketplace Fairness Act, which will require all online retailers to impose sales taxes for the states where they ship goods. Prior to this legislation, online shoppers have benefited from purchasing items on e-commerce sites essentially tax-free. But now with several big name companies, brick and [...] Click here to read the original article on ETFdb.com. Related Posts: Big Oil, Commodities And Large-Cap Earnings On Tap: IYE, MOO, XLB Retail ETFs In Focus Ahead Of Black Friday Mid Day Roundup: Markets Drift Higher On Mixed Data Shopping For A Retail ETF Judgment Day For Retail ETFs
2013 has become the year of higher taxes as Congress continues to push through higher tax burdens on the public in an effort to control and bring down the nation’s astronomical debt pile. Earlier in the year, Congress implemented higher income taxes for those earning over $450,000, which is expected to reduce the deficit by some $620 billion over 10 years, far less than Obama’s $4 trillion in deficit reduction goal. And next on the list for Congress is targeting one of the largest and most popular markets: the Internet [see The Cheapest ETF for Every Investment Objective]. Last week, the U.S. Senate voted to pass the Marketplace Fairness Act, which will require all online retailers to impose sales taxes for the states where they ship goods. Prior to this legislation, online shoppers have benefited from purchasing items on e-commerce sites essentially tax-free. But now with several big name companies, brick and [...]
Click here to read the original article on ETFdb.com.
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