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Posted on 12/04/2023 3:22:29 PM PST by Twotone
U.S. Senator Ron Wyden has been working with Idaho Senator Ron Crapo on creating a digital service tax somewhat modeled after Europe. Within Europe there are different models and proposals that target different digital services such as streaming, digital products, software, advertising and collecting consumer information.
This means Wyden’s proposal could end up taxing Netflix, Hulu, Amazon Prime and Disney+ for providing digital streaming services to customers. This would be an interesting tax question for how it applies to Amazon Prime, which is primarily a delivery discount service that offers free videos and movies as a secondary benefit to signing up for the service.
Wyden’s rush to consider a tax on Netflix comes at a time of declining streaming customers and slow ad sales. Many streaming services like Disney+ have not even recorded a single year of profit since they were created.
Crapo, appropriate name.
These people are nuts.
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The guvmint critters will be increasingly desperate for more tax monies as interest on the debt continues to consume the federal budget. More to come.
Let me tell you how it will be.
There’s one for you, 19 for me.
‘Cause I’m the taxman,
Yeah, I’m the taxman
No, that means it would end up taxing consumers of digital streaming services. Is this in addition to sales tax, much like the excise tax on phone bills to pay for the Soanish-American war lasted into this century long after everyone had forgotten the Maine?
But at least the government will be getting more revenue.
First world problems.
It is a losing battle for the Congress-critters.
The interest on the national debt has reached Event Horizon proportions.
They can still maneuver the ship and look like they are doing something—but there is only one way this is gonna end....
Well of course. They have bled cable TV dry, now go after streaming.
All of the mandatory fees and taxes on our cable TV bill was once of the reasons why we cut the cable.
And cable TV has advertisements! You are paying to watch advertisements!
We have been streaming for 5 years. Some good free streaming services and the ads are not intrusive.
This will continue until people figure out you can never really tax a corporation, which is likely never since they haven't figured it out already.
I cancelled Netflix. I can see it all online for free anyway.
Exactly.
Corporations don’t pay taxes, they collect them.
“The interest on the national debt has reached Event Horizon proportions.
They can still maneuver the ship and look like they are doing something—but there is only one way this is gonna end....”
Well said! Many of us have seen this coming. Artificial low interest rates can’t stay that way forever and when they go up affects the interest on the debt. Congress knew all this.
Politicians keep coming up with things to tax. Maybe they should more time looking for wasteful spending they can cut.
“Crapo, appropriate name.”
I’ll bet he has figured out a way to mispronounce it. Like Craaap oooo. It’s French, sir.
Can we just f*ck right the h*ll off with new taxes?
We do not have a “lack of taxes” problem... We have a “Congress has lost it’s collective mind” problem and their spending is blatantly criminal.
Remember when we rebelled against our Country and King over a 1% tax on a breakfast beverage?
Good times...
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