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Canada pushing ahead with tax on Big Tech opposed by U.S., Freeland says
(financialpost.com)
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this post was submitted on 19 Jul 2023
97 points (97.1% liked)
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If big tech companies could get away with charging you more they'd be doing it already. These are tech monopolies and taxing them is a good thing.
Also, it's a tax on revenue not sales anyway.
They have been increasing prices. They have also removed basic services and account sharing.
It's not taxed on net income, but gross revenue. Semantically, it's a "revenue" tax with the same effect as a sales tax. They collect $100 and get to keep $3. I appreciate the wishful thinking, but it will passed on to customers.
The Canadian solution to every problem is always "more tax".
Well, traditionally it is: Establish a monopoly/monopsony.
But with US companies already entrenched, it is a little late for that. "More tax" is our fallback plan.