Thanks to the Trump administration, American consumer confidence is humming along at a pace that we haven’t previously experienced in our nation…at least in our lifetimes.
A great deal of this newfound prosperity can be attributed to the fact that we are being led by an extremely successful businessman – something that our nation hasn’t seen in quite some time. Trump’s mere presence at 1600 Pennsylvania Avenue has been a Godsend for Wall Street and the economy at large, with the most powerful movers and shakers in the monetary world betting on the President’s ability to keep our nation in the black.
Now, however, Americans are facing a bit of a financial threat from the Supreme Court, that could arrive just in time to put a damper on Cyber Monday and Christmas shopping in general.
States will be able to force more people to pay sales tax when they make online purchases under a Supreme Court decision Thursday that will leave shoppers with lighter wallets but is a big financial win for states.
Consumers can expect to see sales tax charged on more online purchases — likely over the next year and potentially before the Christmas shopping season — as states and retailers react to the court’s decision, said one attorney involved in the case.
The Supreme Court’s 5-4 decision Thursday overruled a pair of decades-old decisions that states said cost them billions of dollars in lost revenue annually. The decisions made it more difficult for states to collect sales tax on certain online purchases, and more than 40 states had asked the high court for action. Five states don’t charge sales tax.
The cases the court overturned said that if a business was shipping a customer’s purchase to a state where the business didn’t have a physical presence such as a warehouse or office, the business didn’t have to collect sales tax for the state. Customers were generally responsible for paying the sales tax to the state themselves if they weren’t charged it, but most didn’t realize they owed it and few paid.
This is just another example of our technological growth outpacing our nation’s legal system…something that has become all too worrisome in cases of free speech being mitigated by the leftist cabals in charge of Facebook, Twitter, and Google.