EU Fines on US Tech Giants Surpass Local Tech Tax Revenue
EU to make more money from fining US tech companies than taxing its own
The European Union is set to generate more revenue from fining US tech companies than from taxing its own public tech sector. This trend was highlighted by a recent €890 million penalty imposed on Google for violating the Digital Markets Act. Critics suggest this has become a reliable business model for the EU, raising questions about the incentives driving regulatory enforcement versus fostering domestic innovation.
Yeah, it’s a business model at this point. And since it’s working, they’re just going to double and triple down. Incentives are everything.