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Technology Stocks : Macromedia...making a comeback?
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To: Patrice Gigahurtz who wrote (2109)3/1/1998 1:03:00 PM
From: John Nail  Read Replies (1) of 2675
 
It shows how well Clinton spin-meisters are that you refer to Clinton's proposal
(of which I am not specifically familiar with) as his way to reduce taxes on Internet compaanies. I did just finish an article in Forbes
about this issue so I will add my two-cents worth based on my impressions
from that article. The Internet companies mostly refers to ISP's like AOL or Netcom. These
services are only a few years old, so it took government awhile to get their act together, but the
inevitable taxation of these services is appearing in local states. In other words, sales taxes on
AOL. Now, the second Internet issue is the tax of goods sold over the Internet. As in, what state gets the
sales tax (if there is one). For MACR, the second issue is more relevant, but I am certain that whatever Clinton's proposal is,
it is not what is affecting MACR's stock.
Here's my guess on Clinton's proposal. Being the great consolidator, he probably is arguing that we can't have all these states
just slap taxes indiscriminitely on worldwide service providers like AOL. So, his bill probably sets up the parameters of how the sates and the Feds can
share in this bounty (you know part of your AOL tax will go to pay for Al Gore's computer in every classroom; network in every school idea).
Same thing with sales taxes on goods sold over the Internet; you know set the rules and how to divide the kitty.
Of course, there is never any discussion about whether these taxes should exist. But again, I am sure Clinton will
sell his Internet Tax bill as a "tax cut".
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