Soon, Amazon customers will finally pay sales tax. While that may seem to be a victory against Amazon’s aggressive rent-seeking, it isn’t. The company is accepting the taxes on its terms. In fact, the national law compelling Amazon to pay sales tax will help it save money as it builds warehouses.
Wired.com recently posted an amusing article about a man who sold shares in himself in exchange for a cut of his future earnings and the right to make decisions about his life. The consequences shed light on problems of our system of corporate ownership, problems which are otherwise difficult to see.
For years, legislators have avoided prosecuting some big banks for their crimes, fearing that, thanks to their size, doing so would disrupt the economy. Recently, however, momentum is building in Washington toward reforming the banks.