Facebook, Google May Face Billions in New Taxes Across Asia, Latin America

 

Many governments think they’ve identified a nice fat, American, cash cow. Plus this is a good way to lean on any speech getting out on the Net that they don’t like. Of course the social media companies will oblige the “regulators.” The crony system for social media is shaking out internationally.

(From The Wall Street Journal)

“Countries across the planet now understand they must impose a digital tax,” said Bruno Le Maire, France’s finance minister, who is lobbying across Europe for the tax ahead of a meeting of EU finance ministers in November. “It is a question of fairness.”

When a politician starts talking about “fairness,” generally speaking one should run. There are no good guys in this equation it appears. The government cronies want to shake down the companies for cash. The companies want to pay off the governments and get the governments addicted to the payoff. Meanwhile, the public will likely see lower quality and higher cost social media.

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