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Private Briefingwith WILLIAM PATALON III, Executive Editor
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An additional downside to internet purchases and transportation of goods thereof is the looming sales tax on out of state purchases. This "FAIRNESS" tax, as it is called, will require busnesses to collect sales tax on behalf of any state that demands it.
This "FAIRNESS" tax has passed the senate, even though such a tax was ruled unconstitutional by the Supreme Court in 1992.
If it passes the House I expect the present Supreme Court will decide that such a tax is now constitutional (if Obama care is constitutional any tax is). This new tax will place an hugh financial burden on business and probably price them out ot the internet market. Meaning that UPS will also take a hit on deliveries.
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The White House has taken notice of a story we've been following very closely here. The rise of Bitcoin. In October of last year,
President Obama summoned Google's executive chairman Eric Schmidt to the Oval
Office and asked him if Bitcoin was something he has to worry about. The answer is yes.
And what's coming could have major implications for global economies and your wealth.
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