Forbes FUD-itorial

Forbes: "The Internet Taxman Cometh" (FUDitorial)

Forbes: "The Internet Taxman Cometh" (FUDitorial)

Another rather uninformed “FUDitorial” (an op-ed based upon Fear, Uncertainty, and Doubt) about the Main Street Fairness Act was just published by Mr. Adam Thierer in Forbes a few hours ago.

Of course, we commented on it immediately to try and help guide the readers who will understandably be incensed after reading the very misleading portrayal.

Now, this is pretty serious: This article will likely by syndicated everywhere, so c’mon troops, get your blogging boots on!  We have some misinformation to fight.

3 Responses to Forbes FUD-itorial

  1. Kumar says:

    Okay. I responded to your call and posted this comment:
    http://blogs.forbes.com/adamthierer/2011/04/24/the-internet-taxman-cometh/#comment-8

    You quote from a study by an “Economic Consulting Firm” and state:
    “Net taxes won’t yield them much. ..potential uncollected sales tax revenues in 2008 were approximately $3.9 billion, or less than 0.3% of state and local tax revenues”

    Others report these “facts” quite differently:
    http://blogs.wsj.com/economics/2011/02/17/e-commerce-surge-hits-state-local-tax-revenue/
    Quote: The Commerce Department reported that e-commerce retail sales totaled $44 billion …account for 4.3% of total retail sales..

    Ergo, 4.3% retail sales should imply about a similar percentage of uncollected “Sales Taxes” revenue from out-of-state online merchants.

    But, ahhh! Wait.. I see now..
    Your were talking about apples, oranges and all other fruits when the subject was merely boring oranges when you say that it is 0.3% of “state and local tax revenues”
    State & Local Taxes, like for example all and more of the following:
    property taxes, state, city, county income taxes, dmv fees, state estate & gift taxes etc. etc. AND SALES TAXES.

    Such efforts to conflate facts and figures to buttress a biased column is rather disappointing.

    But then again, presenting balanced facts would only get in the way of a good story.

  2. Kumar says:

    Hmmm.. if this post vanishes too, I will assume this section is just ornamental.

    Repeating my post here from yesterday, I took your exhortation to counter the “FUD-itorial” misinformation with the post I reproduce below:

    You quote from a study by an “Economic Consulting Firm” and state:
    “Net taxes won’t yield them much. ..potential uncollected sales tax revenues in 2008 were approximately $3.9 billion, or less than 0.3% of state and local tax revenues”

    Others report these “facts” quite differently:
    http://blogs.wsj.com/economics/2011/02/17/e-commerce-surge-hits-state-local-tax-revenue/
    Quote: The Commerce Department reported that e-commerce retail sales totaled $44 billion …account for 4.3% of total retail sales..

    Ergo, 4.3% retail sales should imply about a similar percentage of uncollected “Sales Taxes” revenue from out-of-state online merchants.

    But, ahhh! Wait.. I see now..
    Your were talking about apples, oranges and all other fruits when the subject was merely boring oranges when you say that it is 0.3% of “state and local tax revenues”
    State & Local Taxes, like for example all and more of the following:
    property taxes, state, city, county income taxes, dmv fees, state estate & gift taxes etc. etc. AND SALES TAXES.

    Such efforts to conflate facts and figures to buttress a biased column is rather disappointing.

    But then again, presenting balanced facts would only get in the way of a good story.

  3. […] in combination with the Janet Novak article about CT adopting Affiliate Nexus legislation and the FUD-itorial yesterday, this is the 3rd article in less than a week from Forbes on the internet sales tax topic. […]

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