How would you feel about paying 15% more for your online goods?

[b0rn2sk8]

Yet big tech are not the only game in town and still need to be competitive, either with each other or from small start ups like they once were.

Particularly the retailer arm of Amazon.

 

[Combat squirrel]

because they don't see it as a tax the company will pay they see higher prices and a tax on themselves

If that's the case the capitalism is the new economic slavery. We need laws introduced that bans the rise of prices by the same amount of tax a company should pay - we need to limit their profits (billions of profit is STILL OK YOU KNOW), but make them pay their fair share to help society - they need to not only be about taking from everyone.

 

[SpeedFreak]

Yet big tech are not the only game in town and still need to be competitive, either with each other or from small start ups like they once were.

Particularly the retailer arm of Amazon.

Exactly, they can try pass on the cost but keeping in mind alternative suppliers. If Amazon passes on 15% but a UK tax domiciled competitor is only 5% higher in price then Amazon's sales will plummet. In theory a country like the UK should benefit from this given the large amount of business we as consumers do with multinationals

 

[arknor]

If that's the case the capitalism is the new economic slavery.

consumerism makes the world go round and it's basically the new slavery.

you don't have then your not good enough, your a failure for not wanting more and more.

#GreedIsGood

 

[bol]

I'd pay more tax if I had a say in where it was spent.
Needlessly to say, foreign aid and translation services would be the first to be cut.
We could spend some money on useful infrastructure and local services for instance.
More prisons maybe?

 

[SpeedFreak]

I'd pay more tax if I had a say in where it was spent.
Needlessly to say, foreign aid and translation services would be the first to be cut.
We could spend some money on useful infrastructure and local services for instance.
More prisons maybe?

Says everyone but frankly none of us are any better qualified than those that do this for a living.

 

[arknor]

Says everyone but frankly none of us are any better qualified than those that do this for a living.

probably false tbh looking at our government..

but the government doesn't want the same as the people because birth rate is so important and foreign aid is a straight up bribe

 

[SpeedFreak]

En mass we'd also vote for the death penalty

 

[MikeTimbers]

En mass we'd also vote for the death penalty

which is why it's critical that we have a representative democracy that puts reasoned, informed elected representatives in place to vote on such things so that we don't get what the people want. while I've already said how bad our politicians are (well, all politicians really) the voters are even worse.

It's been said that an electorate gets the government it deserves, and if you were to judge our government harshly, consider what that says about the electorate.

 

[EdGey]

I'm sure this won't scratch the surface of the problem, but it's the right direction at least. More moves like this are required - they should be required to pay the appropriate amount of tax.

That they've gotten away with it for so long is a joke.

 

[Allnamestaken]

It just sucks that in some way we as consumers will be negatively impacted in way.

Goods are already quite high in price, when you combine that with wage stagnation (not just nmw but most medium to lower paid jobs), things are very fast becoming unaffordable.
Its so sad.

Its a run away affect and its getting worse by the decade.

 

[Eurofighter]

Good. Successful businesses should pay tax. This has been overdue God damn Irish.

 

[Hagar]

It just sucks that in some way we as consumers will be negatively impacted in way.

Goods are already quite high in price, when you combine that with wage stagnation (not just nmw but most medium to lower paid jobs), things are very fast becoming unaffordable.
Its so sad.

Its a run away affect and its getting worse by the decade.

If you can't afford stuff, don't buy it.
Message from the past.

 

[Freakbro]

If you can't afford stuff, don't buy it.
Message from the past.

Unfortunately our economy is now predicated on the basis of people consuming goods and services they don't need or can't afford, so sure, if we want to cripple our economy* and go back to being as poor as the past, then yep, stop buying stuff you don't need or can't afford!

* Remember when Cameron came out with that line about economic prudence and equating the country's economy to a household budget and said everyone should pay off their CC debt? He was quickly taken round the back for a bollocking and came back with a changed tune to say No, don't do that

 

[MikeTimbers]

Unfortunately our economy is now predicated on the basis of people consuming goods and services they don't need or can't afford, so sure, if we want to cripple our economy* and go back to being as poor as the past, then yep, stop buying stuff you don't need or can't afford!

* Remember when Cameron came out with that line about economic prudence and equating the country's economy to a household budget and said everyone should pay off their CC debt? He was quickly taken round the back for a bollocking and came back with a changed tune to say No, don't do that

given how much of what is bought as "trendy cool stuff" is imported tech and tat, buying less would be good for the economy, not bad for it.

(trendy cool stuff being defined as cheap clothes made in Asia, electronics made in China)

 

[Murf]

The number of people that think Amazon paying a minimum of 15% tax on profits in every jurisdiction they operate in means the price they pay will go up is ridiculous. How financially illiterate is the general population collectively?

The proposal here is that Amazon can't pay 0% tax in some tax haven where they've shunted all of their profits. If there's no incentive to move their profits, then they'll pay the 19% tax rate in the UK that EVERY DOMESTIC BUSINESS HAS TO PAY. And it's on profit they've made, not the price that they charge.

This is about 2 things, 1, ensuring governments get reasonable tax receipts from these multinationals so they don't have to raise YOUR taxes to pay for healthcare, defense, pensions etc. and 2, to eliminate the huge structural advantage multinationals have over domestic competitors due to being able to pay a much lower effective tax rate than them.

Christ.

 

[Allnamestaken]

If you can't afford stuff, don't buy it.
Message from the past.

Its not about being unable to afford it in general. Its that some things that were previously affordable to people are slowly becoming unaffordable. I'm not talking about unnecessary tat either just the entire market in general.
Wages in comparison are quite stagnant hence the affordability point I was making.

I know some of us do quite well here including myself but its unfair to assume everyone who can't afford x is simply because they buy to much of y.

In any case from my understanding of these changes, it should not affect prices. Its easy to think that on first glance.

 

[Deleted member 77746]

If you can't afford stuff, don't buy it.
Message from the past.

People will be people and they will just continue to put it on credit.

 

[VincentHanna]

Unless it's completely interest free, like a sofa I don't buy anything on credit. Other than house/mortgage of course.

Well actually I do buy most things on credit cards for the security aspect, but I pay them off straight away.

 

[Ice Tea]

Labour Party proposes raising UK Digital Services Tax (so Amazon can pass the hike on that, too?)

https://www.theregister.com/2021/09/29/labour_digital_services_tax

"However, our fear is that the large companies would simply pass this extra tax on to the suppliers and smaller companies that trade on the platforms, and thus avoid paying any extra tax and avoiding reduced profits."

Not just the Conservatives then...