Laffer Study Backs Internet Sales Tax
Internet sales tax backed by new study
BY WAYNE GREENE World Senior Writer
Thursday, July 18, 2013
The Marketplace Fairness Act – which would allow states to force large Internet retailers to collect sales taxes – would create more than 20,000 jobs in Oklahoma, a study touted by proponents says.
The study by Art Laffer and Donna Arduin projects 1.5 million jobs would be created in the United States in the next 10 years as a result of the bill, including 21,348 in Oklahoma.
The Laffer study suggests the legislation would create a tax system with fewer loopholes, a larger base, and lower rates for all taxpayers, which could lead to an increase in gross domestic product of $563.2 billion.
Opponents of the measure have suggested it would have a very opposite effect – driving online sales outside the nation’s borders and taking jobs with it.
“While some members of Congress have waited on supporting the Marketplace Fairness Act because they believed it was a tax increase, the fact is that this tax is already owed,” State Chamber Senior Vice President Mike Seney said in a press release. “It’s not a new tax, nor is it a tax increase. This study shows that if we can collect the tax owed from a broader range of purchasers we can, in fact, lower personal income taxes in Oklahoma and create more than 21,000 new jobs.”
At least they’re considering this tax the right way, through the legislature. Wayne, could you look a little more sometime at the fees levied on OK consumers through unelected government bodies? I just read that the OK Corp Commission is thinking about heightening fees on our phone usage to pay more to rural service providers. This new plan, as I understand it, would be set to continue indefinitely, which doesn’t seem like great public policy, but is certainly easier to push through when you’re not elected and the public doesn’t really pay attention to you. Anyway, things like this really get my goat, and I’d love to know how often these sorts of things are happening.
Thanks!