15 Countries With The Most Debt

Japan

Economic worries usually dominate most local, state, national, and international news these days. Many of the countries on this list compiled by Business Insider are regular headline subjects, like Japan, Greece, and Portugal. But Sri Lanka or France? Wow, France is supposed partners with Germany in leading to fix the European Union.

The big winner: Japan. No surprise given how stagnant its economy has been the past two decades, yet despite it all is still the third largest economy in the world.

The United States isn’t long to be apart from this list. China, included; especially if that housing bubble bursts soon.

1. Japan
Debt as percent of GDP: 225.8

2. Saint Kitts and Nevis
Debt as percent of GDP: 196.3

3. Lebanon
Debt as percent of GDP: 150.7

4. Zimbabwe
Debt as percent of GDP: 149

5. Greece
Debt as percent of GDP: 144

6. Iceland
Debt as percent of GDP: 123.8

7. Jamaica
Debt as percent of GDP: 123.2

8. Italy
Debt as percent of GDP: 119

9. Singapore
Debt as percent of GDP: 102.4

10. Belgium
Debt as percent of GDP: 98.6

11. Ireland
Debt as percent of GDP: 94.2

12. Sudan
Debt as percent of GDP: 94.2

13. Sri Lanka
Debt as percent of GDP: 86.7

14. France
Debt as percent of GDP: 83.5

15. Portugal
Debt as percent of GDP: 93

[photo via Traveling Point]

Amazon.com Preparing To Collect Sales Tax From California Customers

Amazon.com

After years of debate, the California Assembly passed AB 155 on May 31, 2011 that would essentially force online retailers to collect sales tax from state residents.

Introduced by Assemblymember Charles M. Calderon (Dem-58), AB 155 passed by an assembly vote of 52-20, which was voted largely along party lines (Assemblymember Bill Berryhill was the only Republican exception). The bill now heads to the state senate.

Amazon.com has fought sales tax collection basically since its beginning. Now that California is on the verge of leveling the advantage of online retailers over brick-and-mortar retailers, Amazon and other online retailers should prepare for the potential loss of business in the Golden State. Or will they?

Bottom Line: California will lose about 10,000 Amazon affiliates, but gain an estimated one billion dollars in sales tax revenue per year.

Outlook: Will Main Street be restored when customers no longer feel compelled to shop online solely to not pay sales tax on purchases? To be determined…

AB 155 Vote History

Ayes

Luis A. Alejo (Dem-28)
Michael Allen (Dem-7)
Tom Ammiano (Dem-13)
Toni Atkins (Dem-76)
Jim Beall Jr. (Dem-24)
Bill Berryhill (Rep-26)
Marty Block (Dem-78)
Bob Blumenfield (Dem-40)
Susan Bonilla (Dem-11)
Steven Bradford (Dem-51)
Julia Brownley (Dem-41)
Joan Buchanan (Dem-15)
Betsy Butler (Dem-53)
Charles M. Calderon
Nora Campos (Dem-23)
Wilmer Amina Carter (Dem-62)
Wesley Chesbro (Dem-1)
Mike Davis (Dem-48)
Roger Dickinson (Dem-9)
Mike Eng (Dem-49)
Mike Feuer (Dem-42)
Paul Fong (Dem-22)
Felipe Fuentes (Dem-39)
Warren T. Furutani (Dem-55)
Cathleen Galgiani (Dem-17)
Mike Gatto (Dem-43)
Richard S. Gordon (Dem-21)
Isadore Hall III (Dem-52)
Mary Hayashi (Dem-18)
Roger Hernández (Dem-57)
Jerry Hill (Dem-19)
Alyson Huber (Dem-10)
Ben Hueso (Dem-79)
Jared Huffman (Dem-6)
Ricardo Lara (Dem-50)
Bonnie Lowenthal (Dem-54)
Fiona Ma (Dem-12)
Tony Mendoza (Dem-56)
Mitchell (Dem-47)
William W. Monning (Dem-27)
Richard Pan (Dem-5)
Henry T. Perea (Dem-31)
John A. Pérez (Dem-46)
V. Manuel Pérez (Dem-80)
Anthony J. Portantino (Dem-44)
Nancy Skinner (Dem-14)
Jose Solorio (Dem-69)
Sandré R. Swanson (Dem-16)
Norma J. Torres (Dem-61)
Bob Wieckowski (Dem-20)
Das Williams (Dem-35)
Mariko Yamada (Dem-8)

Total: 52 = 51 Democrats + 1 Republican

Noes

Katcho Achadjian (Rep-33)
Paul Cook (Rep-65)
Tim Donnelly (Rep-59)
Nathan Fletcher (Rep-75)
Beth Gaines (Rep-4)
Shannon L. Grove (Rep-32)
Curt Hagman (Rep-60)
Linda Halderman (Rep-29)
Diane L. Harkey (Rep-73)
Kevin Jeffries (Rep-66)
Steve Knight (Rep-36)
Dan Logue (Rep-3)
Allan R. Mansoor (Rep-68)
Jeff Miller (Rep-71)
Mike Morrell (Rep-63)
Jim Nielsen (Rep-2)
Jim Silva (Rep-67)
Cameron Smyth (Rep-38)
David G. Valadao (Rep-30)
Donald P. Wagner (Rep-70)

Total: 20 = 0 Democrats + 20 Republicans

Absent, Abstaining, or Not Voting

Gilbert Cedillo (Dem-45)
Connie Conway (Rep-34)
Martin Garrick (Rep-74)
Jeff Gorell (Dem-37)
Brian W. Jones (Rep-77)
Brian Nestande (Rep-64)
Chris Norby (Rep-72)
Kristin Olsen (Rep-25)

Total: 8 = 2 Democrats + 6 Republicans

[Source via California Legislative Counsel]

[image via Amazon.com]