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When those customers are residents of a US state having sales taxes on such goods, the VAT or GST taxes paid might be used as a credit against the amount of use tax otherwise owed, unless excluded, such as in Massachusetts. Of course, loans like this are more expensive. The commission may review and modify such rates upon appropriate motion or in subsequent rate or depreciation proceedings.

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Seven years ago, the optimists argued that equities as a broad asset class were in reasonably good shape that any excesses were concentrated in about 350 of the so-called Internet pure-plays that collectively accounted for only about 6% of the total capitalization of the US equity market at year-end 1999. Since Bush has been in office money is actually being redistributed from the poor and middle class to the rich.


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