The U.S. Senate may vote this week on the Marketplace Fairness Act, a bill that would allow states to collect sales tax from more online retailers. And as the political and retail landscape has shifted from the last time around, the Senate is expected to approve the measure.
The proposal to require online sellers to collect out-of-state sales tax has been kicked around for many years. For a decade, Amazon was a fierce opponent.
When Superstorm Sandy inundated lower Manhattan last year, thousands of lab animals drowned and many scientists lost months or even years of work. One of those scientists is Gordon Fishell, a brain researcher at New York University.
Just hours before Sandy reached New York, Fishell says, he began to worry that animals housed in a basement below his lab were in danger. "I realized Hurricane Sandy and high tide were going to coincide at Battery Park, which is right where my lab is," he says.
I spoke yesterday with Dan Sichel, a Wellesley economist and a Lady Gaga fan. Both of these facts are relevant for this story.
The U.S. government is about to tweak the way it measures the economy, and some of the biggest changes will affect the entertainment industry.
Under the current system, Sichel told me, Lady Gaga's sales of concert tickets, online songs and CDs all count toward gross domestic product. But the value of the time she spends in the studio working on new songs isn't counted. That's about to change.