Why governments should protect us from barely-taxed tech monopolies | Technology | The Guardian

Why governments should protect us from barely-taxed tech monopolies | Technology | The Guardian

Why governments should protect us from barely-taxed tech monopolies | Technology | The Guardian

In our day, we can’t quite see anything wrong with monopoly. We’re certain that our tech giants achieved their dominance fairly and squarely through the free market, by dint of technical genius.To conjure this image of meritocratic triumph requires overlooking several pungent truths about the nature of these new monopolies. Their dominance is less than pure.They owe their dominance to innovation, but also to tax avoidance.Of course, every big American corporation tries to limit the tax bill. Armies of accountants are a staple of capitalism; the manufacture of new deductions is one of our country’s greatest showcases of innovation. But the tech companies are especially slippery with the tax man. They have hatched schemes that their competitors – brick-and mortar firms, media companies – couldn’t dare attempt.

Source: Why governments should protect us from barely-taxed tech monopolies | Technology | The Guardian

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