'In the church of our nation's religion, innovation, we've been brainwashed,' says Professor Scott Galloway on big tech's growing product monopolies (via profgalloway)
Bezos will not pay taxes, as he will borrow against his stock, at 1.8%, versus sell it. The average tax rate on big tech is now 12%. Coincidentally, the Congressional Budget Office this weekgovernment expenditures of $4.5 trillion and tax revenues of $3.5 trillion … yielding a deficit of almost $1 trillion. Deficits aren't necessarily bad, since investments can spur growth. Each of these is a bet, similar to a CEO deciding where to best allocate capital.
What is our trillion-dollar bet — where are we spending the trillion our kids will be saddled with? Simple: rich people. Lower tax rates on the wealthy and corporations were supposed to inspire growth and investment. They haven't. If it feels as if there is a connection between idolatry of innovators, monopoly power, tax avoidance, Jeff Bezos being worth more than the GDP of Morocco, and your indebted grandkids … trust your instincts. We. Have. Lost. The. Script.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Apple, Amazon, Microsoft and Alphabet have traveled similar paths on the road to $1 trillionFour technology giants now sit on top of the list of most valuable U.S. companies.
Baca lebih lajut »
Amazon's marketplace business boomed during the holidays - Business InsiderOne of Amazon's most overlooked business just crushed another stellar quarter, and helped pump up profit margins
Baca lebih lajut »
Amazon's third-party seller business is bigger, more profitable than AWS - Business InsiderAmazon's cloud-computing businesses gets lots of attention. But people are missing a key part of its retail business.
Baca lebih lajut »
Wuhan coronavirus: Apple, Google, others close China offices, halt flights - Business InsiderWuhan coronavirus leads Google, Apple, Facebook, Amazon, and Microsoft to close China locations and suspend employee travel unless 'business critical'
Baca lebih lajut »
LIVE: Microsoft earnings - Business InsiderAnalysts are watching for continued growth in Microsoft's cloud business, particular after the company scored a $10 billion Pentagon cloud contract.
Baca lebih lajut »
Microsoft Windows just had its best quarter in years - Business InsiderMicrosoft ended support for its Windows 7 operating system and encouraged users to buy Windows 10 or new PCs – and it was a big boon to the business.
Baca lebih lajut »