The Supreme Court has said that retailers can't be expected to collect sales taxes in states where they don't have a physical presence. But as states struggle with huge budget deficits, they want to collect on the billions of dollars of taxes they say online shoppers owe.
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The Internet start-up Blippy.com keeps track of someone's spending habits online, much like Twitter keeps track of random thoughts. Users register a credit card with the site, and every transaction on that card is displayed to friends on Blippy.
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A variety of merchants, from luxury retailers to discount chains, reported the strongest gains in retail sales since November 2007. The upbeat news helped soothe fears among some economists that weak consumer spending might make the economic recovery short-lived.
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The market plunge during the Great Recession has left many people without adequate funds for a comfortable retirement. Only about half the U.S. workforce is covered by some type of an employer-sponsored retirement plan. That means many workers depend on Social Security.
Harry Markopolos spent nearly a decade on Bernard Madoff's trail. He says his efforts to alert securities regulators about Madoff's schemes were repeatedly ignored. In a new book, he details how the Securities and Exchange Commission still lacks the tools for the job.