Iconic mall-based department chains, like Sears and JC Penney, are announcing hundreds of store closures in 2017. More chains are expected to announce shutdowns over the next decade. Experts say the shuttered locations could turn into other businesses that benefit from the large square footage, like fitness centers, churches, offices, public libraries, movie theaters, and medical clinics.
Continue reading… “Future of retail – what happens to the empty stores?”
Amazon logistics center.
Amazon has had an unbeatable price advantage over its physical rivals. When you buy anything from your local retailer the company is required to collect local sales tax at the checkout. In most states, Amazon is exempt from that rule. According to a 1992 Supreme Court ruling, only firms with a physical presence in a state are required to collect taxes from residents. For example, if you live in California and buy a product on Amazon you are supposed to pay a $100 “use tax” when you file your annual return in that state. But nobody does that. For most people, then, most items at Amazon are significantly cheaper than the same, identically priced items at other stores.
Safe for another year or so.
One of the cornerstones of Amazon’s business has been avoiding sales taxes; because their transactions are online, you don’t have to pay Uncle Sam with every purchase. And now, thanks to some maneuvering around a proposed California law, you’ll remain off the hook for another year…
Continue reading… “Amazon staves off the tax man for another year”
Futurist Thomas Frey: The total number of governmental bodies in the U.S. is approaching a staggering number – 90,000. During normal economic times there is plenty of money to go around, but now every city, state, county, parish, township, and special taxing district is competing for the same tax dollars that the federal government is.
Continue reading… “A Country of 90,000 Governments”
Sales tax is a a system that is now on the verge of collapse
Futurist Thomas Frey: As a general rule, extreme levels of complexity take a significant toll on society. The price we pay for complexity is far greater than the money involved. With upwards of 90,000 separate taxing districts in the U.S. sales tax has become an overly complicated system deeply entrenched in the fabric of society, but woefully out of touch with the times.
Continue reading… “Reinventing Sales Tax”
By delving into the futuring techniques of Futurist Thomas Frey, you’ll embark on an enlightening journey.
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