 Welcome back. More on the Supreme Court's ruling that states can now force online retailers to charge and collect their state sales taxes from consumers out of state, shoppers out of state. We're going to show how it's affecting the markets in your pocketbook. Taking a hit, online retailers like Wayfair, eBay, Etsy, Overstock, all finishing in the red. Department stores look at this, of Brick and Mortar Guys, Target, Nordstrom, JCPenney, Coles, Dillards, they are in the green. Helps them. Shopping center REITs, also trading higher. These are the shopping mall guys. Let's bring in the panel. Kadina Group president, Gary B. Smith. And look who's here, stock swoosh owner. Melissa Armo, Gary B, what's your reaction? Well, I think people are getting way too excited that these Brick and Mortar retailers are going to come back and make a resurgence. I don't think that's ever been their problem or at least hasn't been their problem since basically the dawn of the internet. I think it's all about convenience. On the flip side, this is obviously another big government land grab where they hope to increase their coffers. They don't care about consumers. They only care about increasing their budgets. President Trump said, oh, this is a win for consumers. Still scratching my head trying to figure out how. Yeah, what do you think, Melissa? I think these states are really desperate to collect more money in their coffers. I'm from Pennsylvania, live in New York now, but last year in 2017, 43,000 notices were sent out for people who filed the returns to try to deny deductions. The state is desperate to collect taxes. And that was a record number for the state of Pennsylvania. These states are hurting in New York even. Even all the taxes we pay. So what's gonna happen, they're gonna keep spending instead of taking control of the budgets, which is what these states should do who are in debt and need money coming in. Now they're gonna say, oh, we're gonna get all this tax money in. Truth be told, we should have all been paying it anyways. To be fair, the brick and mortars and the online people both should have been paying the same, but ultimately consumers are gonna end up paying more. So I'm not happy about it, it was a shopper. I hear what you're saying, Gary B, what if you're an internet retailer with a presence in a high-tech state like California and New York, what do you do? Well, if you're big enough like Amazon and you're selling your own goods, you're already paying the taxes. Amazon is, they're not paying taxes in general for the third-party goods they sell. So if you're a smaller online retailer, you better make some entrees to Amazon to be bought out because you're really gonna suffer just the paperwork alone and trying to figure out how to pay these taxes, which by the way is obviously not in the Supreme Court's ruling, is gonna be burdensome. So it's gonna be like healthcare all over again where the small guy can't figure out how to do it and eventually goes out of business. You know, you may wanna buy stock in H&R Block, I'm kidding, but to Gary B's point, Melissa, I mean, there are 10,000 separate taxing jurisdictions across the country. That's what the little guy's gonna have to deal with, right? I know, and I'm surprised actually that Trump supported this passing because really he's been looking out for the little guy. So as far as small businesses, just like Gary said, this really isn't good for the little guy. It's not gonna hurt Amazon. But how is it gonna affect our wallets, our pocketbook? As far as people's shopping habits, I don't think they will change. In other words, if you love to shop online on your phone or your computer, you're gonna continue to do that and you're just gonna pay the tax because it's the convenience, you're paying for the convenience. You might buy one less item because of the tax of the cost of it, but you're not gonna stop shopping online. People are not gonna stop using Amazon. It's gonna affect the smaller businesses just like Gary was saying, and that's the problem. I don't think consumer spending is gonna go down as a result of this. People are gonna spend what they're gonna spend. What do you think, Gary B? I agree. Let's just say it's a $100 item from Amazon and it goes up $6, and now it's $106. I'll tell you what, as an Amazon Prime customer, which more and more of us are, I'd still spend the extra $6 not to have to get in the car and go to the shopping center park. I'll do all that stuff. It's still worth it to me. Gary B and Melissa, we love having you on. Come back soon, guys. We're gonna be right back after the break with more. Don't go away.