This Week in Economics: 4 News Stories You Need to Know About

Here is an update on some of the recent stories that I have covered for The National Pulse: 1.) D.C. City Council unanimously votes to raise taxes on Uber…and a ton of other things. The Washington Times reports: The 13-member council approved funding Metro by raising the tax on ride-hailing services Lyft and Uber from 1 percent to 6 percent, as well increasing the sales tax, the car rental and leasing tax, the hotel sales tax, and the tax on alcohol sold in liquor stores. Owners of properties assessed at more than $5 million will pay an increased 24 cents

Why the Internet Sales Tax Is a Really Bad Idea

This week, U.S. Representative Kristi Noem (R-S.D.) made headlines when she threatened to use a discharge petition to force a House floor vote on her Internet sales tax legislation. While some may find it strange that a Republican would use a rare procedural tool to raise taxes, Rep. Noem’s home state of South Dakota (where she is running for governor) stands to receive a big windfall if passed. Rep. Noem’s bill, the Remote Transactions Parity Act (RTPA), would give states the power to tax Internet sales that take place beyond their borders. Collecting taxes on businesses that aren’t physically present