Live Breaking News & Updates on Fair marketplace act

Detailed text transcripts for TV channel - MSNBC - 20130427:11:26:00

Financing their spending, putting it on credit cards. you can t do that forever. very true. what about the senate vote to tax online spending? it s called the fair marketplace act. really interesting backstory here. there s a reason amazon is based in washington state. because 2% of the population lives there. so when they started, that meant that nobody had to pay taxes because they didn t have what s called a presence in your geographic area. well, presence has been redefined as distribution centers. you might be a blogger who sells something through amazon, which is a big part of their business. so now, they, it was even called the amazon tax, have switched their stance. there s a certain inevitability to this. this is a good time to binge shop online. pretty soon you re going to be paying taxes on it. it s not a nascent industry anymore. i think in the industry, everybody always knew that. yeah. that s why you always saw free shipping but you never saw things, didn t want to throw it in congress face, no tax, tax free. that never happened.

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