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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Apr 24, 2013
Page
12
Watermark Books & Cafe owner Sarah Bagby in Wichita Kansas backs the Marketplace Fairness Act to allow states to collect sales taxes on online purchases. She argues online retailers lack a tax burden that shields prices and costs states billions in revenue.
A 2009 UT study supports taxing e commerce and cross state sales. The bill uses software to assess state and local taxes by billing address with a $1 million out of state sales exemption. Opponents warn of compliance chaos and audits for small businesses. eBay urges a higher threshold.
The Pew Research Center report shows the top 7 percent owned 63 percent of U.S. wealth in 2011 up from 56 percent in 2009 while the bottom 93 percent saw net worth decline. Wealth rose 14 percent overall to 40.2 trillion as stocks rebounded and housing prices lagged.
Apple plans a 60 billion share buyback and raises its dividend to 3.05 per share, as it projects a quarterly revenue drop. Tim Cook emphasized focusing on innovation over short term stock gains while the firm reports a 10 year profit decline.
Air travel ran smoother in New York and nationwide on Tuesday after widespread delays, yet passengers face potential changes as thousands of air traffic controllers are furloughed due to budget cuts. Airlines and lawmakers press the FAA to cut spending another way and assess long term costs to carriers and travelers. US Airways CEO Doug Parker warns the policy could not last. Transportation Secretary Ray LaHood cites Congress for the broader FAA budget hit of 600 million dollars.
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