recall that horizontal federalism. that is about letting the states play with their policies, both high and low tax. and letting citizens sort themselves and to these groups. how that relates to the internet sales tax is the same way it relates when those of us in washington, d.c. occasionally drive across the border into virginia him and fell up our cars with gas. when we pull into that gas station, that attended doesn't ask for our drivers license and charges residents gas. we are charged at the point of origin. it disciplines d.c. in maryland because they can only raise those gas taxes until everyone decides, forget it, i will spend the extra 10 minutes to get a lower price. in that way, it is healthy test competition. that is what we were experiencing online. yourconsumer, you can take purchases to a lower tax state online. it is a check on government growth that way, which is why a lot of people opposed it. that is kind of how this compatible -- competitive federalism plays into this debate. guest: -- host: all ri

recall that horizontal federalism.t is about letting the states play with their policies, both high and low tax. and letting citizens sort themselves and to these groups. how that relates to the internet sales tax is the same way it relates when those of us in washington, d.c. occasionally drive across the border into virginia him and fell up our cars with gas. when we pull into that gas station, that attended doesn't ask for our drivers license and charges residents gas. we are charged at the point of origin. it disciplines d.c. in maryland because they can only raise those gas taxes until everyone decides, forget it, i will spend the extra 10 minutes to get a lower price. in that way, it is healthy test competition. that is what we were experiencing online. yourconsumer, you can take purchases to a lower tax state online. it is a check on government growth that way, which is why a lot of people opposed it. that is kind of how this compatible -- competitive federalism plays into this debate. guest: -- host: all right.

we got a ruling from a federal court that seems to green light vertical, horizontal, zigzag. we be on the cusp of something that? >> the happiest people in the world right now are investment bankers. they canceled their summer plans. if you look from an anti-trust perspective that's a more conservative stance we have seen in the past. when you have companies awash in cash, and stock prices for some companies at ae highs. if they want to do a merger, it's a good time for them to use stock. you will see a lot of vertical mergers we haven't seen before. and if you think about the implications of the increasing interest rates as well as large mergers it could have an effect on the financial sector. charles: turns out your way is the right way. you are going to retire at 50 and you will be a millionaire. we'll go over the details next. . same thing with any dent or dings on this truck. they all got a story about what happened to 'em. man 2: it was raining, ere was only one way out. i could feel the barb wire was just digging into the paint. man: two bulls were fighting, (thud) bam