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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: JOHN W. who wrote (45542)	3/12/1999 11:20:00 PM
From: H James Morris	Respond to of 164684

>> Washington, March 12 (Bloomberg) -- U.S. states and local governments have a right to tax business conducted over the Internet, according to Representative W.J. ''Billy'' Tauzin, a Louisiana Republican. Consumers don't pay sales tax on most goods and services they purchase online, similar to mail-order purchases, although they do on most over-the-counter purchases. A 19-member commission is debating the thorny issue of how to tax business on the Internet. Congress banned new taxes on Internet business for three years while policy makers work on the problem. ''I don't think we can stop state and local governments from demanding their share of contributions in the form of taxes, comparable to what would be required of brick-and-mortar businesses in their jurisdiction,'' Tauzin told the Bloomberg Forum. Tauzin also said that Congress mustn't permit undue taxation that could stunt the growth of Internet business. ''Our job is going to be to make sure there's no duplication of taxation,'' Tauzin said. The Louisiana Republican will play an important role in the upcoming congressional debate over Internet taxation because he heads the influential House Commerce Subcommittee on Telecommunications, Trade and Consumer Protection. The debate won't occur until next year at the earliest, when the Internet tax commission will report to Congress. Thus, it's a little early to tell what direction lawmakers will take, said Bill Whyman, an Internet analyst with Legg Mason Inc.'s Precursor Group. Still, Tauzin, as chairman of the House Commerce telecommunicaions subcommittee, ''is a central player in all of this,'' he said. Losing Tax Revenue State and local officials worry that they'll lose sales taxes as the Internet grows. The tax debate pits companies specializing in electronic business, such as bookseller Amazon.com Inc. and catalog sales company J. Crew Group Inc., against small local merchants and large department stores. The newly formed Internet tax commission already faces obstacles. The National Association of Counties filed a lawsuit this week to block the panel from meeting, saying that its makeup is illegal. By law, the panel is supposed to be composed of eight industry representatives, eight state and local officials and three federal officials. State and local officials say there are too many industry representatives, among them America Online Inc. President Robert Pittman, and not enough from state and local government, such as Utah Governor Mike Leavitt. <<

To: JOHN W. who wrote (45542)	3/13/1999 12:56:00 AM
From: Jay8088	Read Replies (1) \| Respond to of 164684

I would give more credence to your arguments when and if AMZN (at least ) break below its 50 day moving average. AMZN and all the net mania stocks look like they are still in a powerful uptrend. Not that it matters for me.. I hear that new Nicole Kidman movie is pretty steamy.

To: JOHN W. who wrote (45542)	3/13/1999 7:27:00 PM
From: Glenn D. Rudolph	Read Replies (2) \| Respond to of 164684

Lets see Glenn and now impristine are long on scanazon as the techs crumble, and the internets are falling. You guys are getting burned both ways... John, That is an interesting comment. I was short all of last year as AMZN went up and I lost a lot. Now I just play long on pullbacks and when I see AMZn is trending up. That is true with YHOO and AOL although AOL is not as volatile. All I leaned last year was do not fight the tend and I am finding that I am making a lot of my losses back. I have a ways to go but patience will do the trick. You might learn something from my lesson. I paid enough tuition for an entire class. I am not a believer in AMZN long term or short term but that no longer matters. I do believe that the Street believes at times so I play long when the trend is up. AMZN is not a core holding. I surely do not love it. I do like the money that is coming back into my account when I go with the trend and not against the trend. I know Bezos is rich now. I personally believe it is wrong but I have no control over this. Blodgett is still a kid without much experience in my eyes but I do not know much about his background. The fact remains is the Street follows his calls as they do Mary's and others. You do as you wish but I would not call me an AMZN bull. The stock price of AMZN is not crumbling and I believe I just explained why. Glenn