Everyday people all over the United States and the World make millions of transactions over the World Wide Web that result in billions of dollars changing hands. The Internet has been one of the major phenomenons of our time, with this being so it hard to believe that something bad could result from this. Well many government officials are trying to put an end to the exchange of money over the Internet, not directly but indirectly through means of taxation laws. Currently, the Internet and e-commerce has escalated the U.S. economy many times higher than the rest of the world. This has only happened because people like to buy over the Internet.
Though our current economic and technological status of greatness may be in jeopardy if purchases made over the Internet are to be taxed. Purchases made online should not be taxed because it will cause a disruption in our economy and a decline in technological advances. With the Internet being used worldwide and with our country being at the center of this event, we need to preserve what we have. Many concerns and issues would arise if the Internet is taxed. First of all we cant tax foreign countries. This presents a major problem as foreign countries make up for twenty two percent of the U.S.s e-commerce profits. If the U.S.
The Term Paper on Internet made the world a Global Village
Gone are the days, when you had to wait for days or even hours to learn about news of some distant place an event taking place in one part of the world can be heard easily in the other. Perhaps, synchronization of such magnitude has really close-knitted this world together so much that it appears as a real single universal community comprising of different people. Thanks to technological ...
decided to tax its own Internet companies many negative changes would occur in our economy. The changes that will occur if the Internet is taxed include the flow of money out of our country instead of money flowing into our economy. If e-commerce stores here in America have charge sales tax the final price of the product is increased and that increase in price goes straight to the U.S. governments pocket. Thus, foreign countries arent going to allow purchases from the U.S. why should foreign countries have to support our government? Again, one has to be reminded that the Internet is worldwide and by no means is it controlled or used only by America. Many shoppers who made online purchases from Web sites revealed they did so because of the tax-free status of the Web. According to PC Data Online, fifty-seven percent of those surveyed by PC Data Online made online purchases based on the fact that they didnt have to pay taxes; the remaining forty-three percent revealed it wasnt a factor.
This is a very interest statement.
