I recently learned about the enormous tax breaks that Big Tech companies receive, and it really surprised me 💭
For example, Google apparently receives about $17.9 billion (over 2 trillion yen in Japanese currency!) in tax breaks, which is said to be equivalent to the cost of supporting more than 7 million people through America's SNAP food assistance program 😳
Why are there so many tax breaks?
Microsoft and Amazon are similar - they also receive substantial tax breaks from the government. I had a general sense that "big corporations get preferential treatment," but I never imagined the numbers would be this huge ✨
These breaks are often given under names like "supporting research and development efforts" or "assistance for creating new technologies." But Senator Elizabeth Warren has been saying, "With this level of tax breaks, couldn't we redirect that money more directly to programs that support people's livelihoods?" 💡
What is SNAP?
SNAP stands for "Supplemental Nutrition Assistance Program" - simply put, it's a program that helps low-income families buy food. It's somewhat similar to welfare assistance in Japan? 🍓
A significant number of people in America rely on this program, and the thought that Google's tax breaks alone could cover food expenses for 7 million of them - isn't that incredible? I couldn't help but think that 🥺
Why isn't this topic more widely known?
Honestly, when I first saw it in the news, I just thought "hmm..." But when I looked into it, I realized it's an enormous issue. Because the amount of breaks corporations receive is incomprehensibly large compared to the scale of living expenses for people the country wants to help 👀
Probably because tax systems are complicated, and news coverage often uses technical terms, so many people like me end up thinking "I don't really get it, but is it okay?" 💭
To summarize
- Big Tech companies receive massive tax breaks
- The amount of those breaks is sufficient to support the food expenses of millions of low-income people
- Lawmakers are saying that money could potentially be redirected more toward welfare
It feels like society's systems make you think "I guess that's just how it is" at first glance, but I wish things were a bit clearer 🥺✨
Hatena
Comments
ロバート
The $4.5 trillion tax cuts for the wealthy and corporations could have funded Social Security for years!
クリス
The problem highlighted by senators: Google parent company's $17.9 billion tax break is equivalent to food assistance for 7.5 million people.
ハンナ
Questionable whether these tax breaks are truly necessary for big tech companies to maintain competitiveness. In reality, it's just giving public funds to private corporations.
ノーラン
The 'inauguration fund' donations are finally paying off. Let's call this what it is - not lobbying, but pure corruption.
グレース
There's a difference between capitalism and pure greed. Big corporations shouldn't pay zero taxes; they should properly employ people and contribute to social security.
ベン
Taxing the ultra-wealthy might seem insignificant, but it's still an amount that could change many people's lives depending on how it's used.
ジョージ
Money always mysteriously appears when it's for 'them' but never when it's for us.
サラ
Nobody actually thinks Google's tax breaks would go to food assistance.
ジャック
But the wealthy absolutely need that money! 😭😭😭
ハンナ
Companies that can afford political donations and luxury halls are clearly not paying enough corporate taxes.
サム
If we united, we could stop this country, but the wealthy keep us divided.
リリー
Democrats could have reversed corporate tax cuts in 2021, but for some reason they didn't.
ノーラン
Techno-feudalism is the worst.
サム
Stop giving money to corporations. They're already making plenty and just padding their own pockets.
チャーリー
If 7 million people used that money, stores would thrive, employment would increase, wages would circulate, and everyone would be happier.
クロエ
Or we could give it to the rich, where it sits in banks, the economy stagnates, everyone struggles, and only a few billionaires get even richer.
