I have a home studio with Audition 3.0 and a microphone. I am trying to record into a multi track what I am listening to from the internet on the same computer. I have tried different settings to no avail. What am I doing wrong? Thank you for the help!
You haven't said whether this is on a Mac or a PC. I couldn't tell you how on a Mac (I don't have one) but on a PC, Microsoft (who have been got at by the RIAA) have made this difficult to the point where most people use an alternative method, and anyway, there's no way you'll be able to mix a microphone in with it - The OS will only let you record one source at a time.
For just recording what you are listening to, then you need a streaming audio capture program. I use SoundTap. It didn't cost much, and it works brilliantly. Records VoIP too if you want.
It's silly to say it can't be done.
Although i have a pro home studio and i do record a radioshow on A. AUD 5. And I don't use a USB micro but
2 Elctrovoice R27. And the audio is sooo superb.
Where did I say you can't do it? That's right - I didn't. I said that you could only record one source at a time via the OS, which is true. A lot of machines have the 'what you hear' option as a record source, and in theory that will let you do it - until you actually try, and discover that this includes everything except the internet, courtesy of either Microsoft or the manufacturer - or sometimes even both.
Everything else you've mentioned is irrelevant.