It's very concerning that Wall Street's latest darling and the largest online retail marketplace in the world, Hong Kong-based Alibaba, is able to exploit a sales tax loophole that has existed for far too long.
Traditional retailers in our communities have collected sales taxes at the register while their online counterparts have not been required to do so. Our tax policies have never caught up with the online commerce boom.
The lack of sales tax fairness has already contributed to the shrinking or outright closure of numerous local small businesses. But if international players like Alibaba are allowed by our own government to exploit the same loophole, we're effectively sending our dollars overseas to support foreign companies rather than creating American jobs and growing our own economy. That just doesn't make sense to me.
Congress has a chance to stop this by passing e-fairness legislation soon, but they've been dragging their feet for decades now. Our Main Streets and the communities they support are running out of time.