Small business owners call on Rep. Duncan to support online tax

Small business owners call on Rep. Duncan to support internet sales tax act

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"That 9.25% can add up to a considerable amount. They may not say that to us, but a lot of times if they're looking to save a few bucks, if it's $1,000 item they might be saving a considerable amount of money," said Scott Schimmel of Bliss Home. "That 9.25% can add up to a considerable amount. They may not say that to us, but a lot of times if they're looking to save a few bucks, if it's $1,000 item they might be saving a considerable amount of money," said Scott Schimmel of Bliss Home.

KNOXVILLE (WATE) - Small business owners gathered in Market Square Thursday, urging support for a measure to collect sales taxes on internet purchases.

The group Stand With Main Street is calling on Congressman Jimmy Duncan to support the bill dubbed the Marketplace Fairness Act, which has already passed in the Senate.

The group handed out a new study from economist and advisor to President Reagan, Arthur Laffer, which suggests the move would lower tax rates for all taxpayers and give a $500 billion boost to the economy over 10 years.

"The larger a purchase grows, that 9.25% can add up to a considerable amount. They may not say that to us, but a lot of times if they're looking to save a few bucks, if it's $1,000 item they might be saving a considerable amount of money," said Scott Schimmel, owner of Bliss Home.

The Marketplace Fairness Act allows states to require online retailers to collect taxes, even if that business does not have a physical presence in the state.

The tax revenue would be sent to the shopper's state.

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