Tech Giants: Above the Law

[merchantofzeny]

Okay, so I was running through my subbed Youtube channels and came upon this video by Scott Galloway and it got me thinking. Should the taxes really be increased for these companies? I mean, many of them are not even creating content and making money out of our data and they still get taxed less than most other type of businesses.

https://www.youtube.com/watch?v=auydnF-Qu_w

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[Lampaster]

So does occur in all countries. It is for this reason that we always see in power only the rich people. Corruption is rampant everywhere. I'm tired of this situation and I decided to go into the bitcoin economy. I'm not going to pay my money to corrupt politicians.

[panju1]

Think about this - what function do banks serve? They just act as the middlemen and make more money than main street. There will be businesses whose output is not tangible. They don't need to penalized for this.

[Beerwizzard]

Another arguments for increased taxation. Leftists always trying to justify their will to rob someone. Instead of asking for tax decreasing and cutting governmental spendings they want someone else to pay more. Usually bigger companies already paying more than smaller ones. Don't see any reasson why they should be charged more for their success.

[Kaller]

Another arguments for increased taxation. Leftists always trying to justify their will to rob someone. Instead of asking for tax decreasing and cutting governmental spendings they want someone else to pay more. Usually bigger companies already paying more than smaller ones. Don't see any reasson why they should be charged more for their success.

Lol, yup. I am on welfare, but don't WANT to be. I would much prefer to make enough that I do not need to live off of the taxpayers. I would love to be completely self-sufficient. This is how it is supposed to be.

Instead, we have leftists who think they are ENTITLED to live forever off other people's work. They think everything should be free forever and dont understand that at some point they need to start making money and paying taxes themselves.

I think this is why the statistics show the older people get, they tend to become conservatives.

[Theb]

From what I know income taxes are not based on what type of company are you in but income taxes are based on how much does the company earn. Which means if they earned on a certain amount they will get a certain percentage to be taxed on their net income before tax. Generally there is no relation whatsoever on taxes and the rype of business you are in except if your country has a specific law for it.

[drachman]

Okay, so I was running through my subbed Youtube channels and came upon this video by Scott Galloway and it got me thinking. Should the taxes really be increased for these companies? I mean, many of them are not even creating content and making money out of our data and they still get taxed less than most other type of businesses.

https://www.youtube.com/watch?v=auydnF-Qu_w

That would not work they can always move their operations to another country or they can use intricate legal ways to get away with paying no taxes, you do not have to like it but that is the way things are.

[Yakamoto]

Another arguments for increased taxation. Leftists always trying to justify their will to rob someone. Instead of asking for tax decreasing and cutting governmental spendings they want someone else to pay more. Usually bigger companies already paying more than smaller ones. Don't see any reasson why they should be charged more for their success.

You don't have to be a leftist to argue that megacorps should be paying more taxes on their business revenue. Believing that corporatism is a good economic system is, at best, part of the right-wing dogma, but probably the bottom-of-the-barrel tier economic system when it comes to right-wing economics. Capitalism makes the goal for everyone to be an owner of their own business, not a worker. Having a bunch of megacorps that are able to navigate all the red-tape imposed by a government which is built and bought to support such corporations is the attitude of a slave, and a serf, essentially. Megacorps should pay a lot more taxes and loopholes should be close and given as grants and loans to small businesses, partially to manage legal fees, others as opportunities for owners to expand.

That's assuming the government should be as big as it is.

[syaripudin]

Tax is part of the bureaucracy that must be agreed upon by the employers and the government. And I think that's already set in the law in every country. Even in advanced countries, the tax system applies to everyone, and that is based on the income earned. I think the tax aims for the welfare of society in a country. Provided there should be no tax abuses committed by related parties who really want to seek profit on taxes received. This is what causes many entrepreneurs who pass the obligation on taxes to be paid. It is back to each individual indifidu, yes we should obey the tax rules.

[aTriz]

Okay, so I was running through my subbed Youtube channels and came upon this video by Scott Galloway and it got me thinking. Should the taxes really be increased for these companies? I mean, many of them are not even creating content and making money out of our data and they still get taxed less than most other type of businesses.

https://www.youtube.com/watch?v=auydnF-Qu_w

There are businesses that purely take commission, for example, escrows will take a fee of the transaction you make with them. It may seem easy to do, but it is needed, just like how taxes are needed or how these companies shouldn't be forced to pay higher tax rates. That is like making transactions fees higher for escrows, just because they are escrows. You need a reason to do so.

I think we are fine the way we are, no need to start screwing over companies by forcing them to pay more tax.

[merchantofzeny]

Another arguments for increased taxation. Leftists always trying to justify their will to rob someone. Instead of asking for tax decreasing and cutting governmental spendings they want someone else to pay more. Usually bigger companies already paying more than smaller ones. Don't see any reasson why they should be charged more for their success.

You don't have to be a leftist to argue that megacorps should be paying more taxes on their business revenue. Believing that corporatism is a good economic system is, at best, part of the right-wing dogma, but probably the bottom-of-the-barrel tier economic system when it comes to right-wing economics. Capitalism makes the goal for everyone to be an owner of their own business, not a worker. Having a bunch of megacorps that are able to navigate all the red-tape imposed by a government which is built and bought to support such corporations is the attitude of a slave, and a serf, essentially. Megacorps should pay a lot more taxes and loopholes should be close and given as grants and loans to small businesses, partially to manage legal fees, others as opportunities for owners to expand.

That's assuming the government should be as big as it is.

This. Can't find the link but I remember a vid from the Entrepreneur channel. This guy was sharing tips when opening up the business. One was to get a good legal team. Apparently, he got sued just MINUTES after opening his business! He did not elaborate but I guess everyone would assume it was one of the fat cats. How can any new business emerge and thrive when the larger ones are up to hostile takeovers, aggressive acquisition or outright harassment via lawsuits?

[Jully Bells]

Tax avoidance by tech companies is a serious issue. Someone has to pay for police, roads, governments etc that they need to survive. But the Four Horsemen – Apple, Amazon, Google, and Facebook — pay far less than the average US corporate tax rate. what happens to tech companies if they paid the same amount of tax as everyone else. Would they be able to compete

[Gozie51]

Lets be realistic, every society have there law guiding the country and I think everything about tax ,taxes and the issues arising from it is enshrined in the constitution , so that is the guiding principle to a company established thereupon. They have stipulated amount to pay for doing business in that country except where there is corruption in the collection and giving. Meanwhile, there is what is called social responsibility. This is a responsibility undertaken by the company in the community. So it is the responsibility of the government to see that the company has a  responsibility undertaken too apart from the tax paid.

[gentlemand]

They are complying with the laws available to them. Anyone would do the same given the opportunity. If people don't like it then they need to get in touch with their local lawmaker and tell them to do something about it. It's within every government's power to make them pay a fair amount. The fact they're not paying a fair amount is down to them too.

[Fortify]

If you think America has it bad, imagine how smaller countries are affected by the power of these large multinationals. Some of these companies have marketing and PR departments with a budget higher than the some governments. The problem probably started when the US declared that companies are "people". That meant they could go bankrupt and commit all sorts of illegal acts while the executives got away clean.

[nicosey]

Surely larger companies over time become inefficient.  There is a reason why companies look google and ideas like Bitcoin came from the basement.  If we are honest here not much innovation comes from large companies.  They operate above the because they have the mass to hire lawyers, but innovate they suck.

[darkangel11]

I think that the taxes should be increased for these companies. Now before you call me a leftist think about how this works. Some companies are being charged 30% and more, while others only have to pay 13%. An average citizen pays more than that. I'm living in the EU and the taxes here are over 40% if we add income tax, vat, medical care and pension fund. Why do they get to be above the law?