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« Home Networks Growing Without Permission! | Main | Attention Terrorists: Tennessee a Weak » May 22, 2003Whackamole Time, AgainThat discredited University of Tennessee study claiming huge tax revenue losses due to ecommerce is still being treated as fact by seemingly intelligent publications. The latest is CFO magazine in this story at CFO.com, which says: A University of Tennessee study showed that states probably lost around $13 billion in lost taxes on Internet purchases in 2002. That study also predicted states would lose $46 billion in lost online taxes by 2006 - unless on-line merchants are required to assess and remit sales tax.What CFO fails to mention is that, as I reported here two months ago, a new study by the Direct Marketing Association refutes the UT study point by point. Short version: The UT study confused different types of online transactions and relied on fuzzy numbers and wildly-exaggerated estimates to arrive at its inflated figure. The CFO.com story doesn't mention the DMA's study. If you can't trust the magazine for the nation's certified financial officers to be fair, accurate, and get the numbers right, who can you trust? Comments
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