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Let go of your mouse and pay attention -- next story you and your fellow Americans are expected to spend well into the ten figure range today during the online shopping blitz.
Known -- Cyber Monday.
That's lot of cash that is not being taxed to be in person right here's chief Washington correspondent James rose.
For sheer spectacle physical danger cyber Monday's rush to the PC iPhone and Droid poses little threat to Black Friday stampede into brick and mortar stores but the numbers are starting slowly but surely to turn.
We now have a situation US -- about one in every ten discretionary dollars was spent online retail analyst report on -- sales this Black Friday topped one billion an increase of 22% over 2011.
While physical retailers -- foot traffic declined by nearly 2%.
-- with more than 100 million people expected to make more than a billion dollars -- online purchases this Cyber Monday.
An old debate resurfaces like a pesky pop up -- over why online retailers enjoying a pricing advantage of up to 10%.
Are not required us physical stores are to collect state sales taxes.
And that's something The National Retail Federation feels very strongly about in terms of every retailer should be playing by the same set of rules and we should either all have to pay sales tax or nobody -- sales tax.
Measures to address the imbalance entitled the market place equity act and the marketplace fairness act have been introduced in the house and senate respectively.
If enacted the states would see estimated annual revenues of nearly a quarter of a trillion dollars.
But a few behemoth online retailers and lawmakers leery of being branded as tax hikers have kept.
While the governors are clearly -- because it helps their state budget.
This states aren't represented directly in congress and members of the house and senate have their own constituencies that they're worried about.
-- -- their -- focus 24 states have enacted laws that enable online and catalog retailers to collect state sales tax is voluntarily.
Few expect action in the lame duck session but the next session of congress is seen as one that may well rewrite the rules on e-commerce -- James thank you.
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