Is the Government Going to Tax You for Using the Internet?
Is the Government Going to Tax You for Using the Internet?
Taxes, taxes and more taxes: that appears to be the government’s answer for just about every problem we face in society. There seems to be no end to the list of things that the government wants to tax. Now it seems that Americans could be in for yet another tax, simply for using the Internet.
Is this subject new?
The subject of taxing Internet use has been broached before, but we have always been protected from such taxes thanks to the Internet Tax Freedom Act. However, time is starting to run out on that act and if the Senate fails to vote to permanently extend the act by November 1, then we could all be seeing a significant increase in our Internet usage bill.
Can we come together on internet use?
So, what’s the problem? Good old bipartisan politics it appears. Congress has already passed off on the Permanent Internet Tax Freedom Act, but attempts to get it approved in the Senate have so far been unsuccessful. In fact, when the act was brought up in July, Senate Majority Leader Harry Reid put the kybosh on even discussing it.
So what does that mean for the public? It means consumers could be paying as much as $15-$20 more a month for Internet usage. So why are democrats not cooperating? Apparently they are trying to pass a similar act that would also include the Marketplace fairness Act (MFA).
So what is the MFA? It’s essentially another tax. Its purpose is to impose a sales tax for all Internet transactions, in an effort to make the marketplace fairer for online retailers. So apparently the Senate’s answer is to stop one tax by imposing a different one.
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Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm with clients all over the world.
Alan L. Olsen, CPA, Wikipedia Bio
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Introduction (teaching business success at Barr Business School) In this interview, Alan Olsen, CPA, MBA discusses teaching business success with Dr. Frumi Rachel Barr. Dr. Frumi Rachel Barr is the Founder and Chief Mentor at the Barr Business School. Transcript: Alan Olsen Hi, this is Alan Olsen and welcome to American Dreams. My guest today is…
Introduction (one innovative approach to treat congenital heart disease ) In this interview, Alan Olsen, CPA, MBA discusses how regenerative medicine can fight congenital heart disease with featured guest Dr. Timothy Nelson, MD, PhD. Dr. Nelson is a general internal medicine practitioner, with a specialty interest in regenerative medicine and the director of the Todd…
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