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France approves digital tax targeting US tech companies

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WE WILL BRING THAT TO YOU LIVE AS SOON AS IT HAPPENS >>> MEANWHILE, THE FRENCH GOVERNMENT APPROVING A NEW DIGITAL TAX ON TECH GIANTS, APPLYING 3% ON REVENUE OF COMPANIES LIKE ALPHABET, AMAZON MAKE IN THEIR COUNTRY

THE US GOVERNMENT IS NOW LAUNCHING AN INVESTIGATION TO SEE IF THIS NEW TAX DISCRIMINATES AGAINST AMERICAN COMPANIES AND YOU KNOW WHAT COULD HAPPEN THEN COULD THIS CASH GRAB LEAD TO A NEW TRADE WAR? WHAT DO YOU THINK? >> OH, THOSE FRENCH POLITICIANS NEVER SEEN A TAX HIKE THEY DIDN'T LIKE, NEVER SEEN A TAX CUT THEY DID LIKE BY THE WAY, LET ME ADD THAT THE FRENCH NOW JUST PUT IN A TAX ON AIRLINES FLYING OUT OF FRANCE

THAT'S GOING TO HIT THE CONSUMER ALSO LEAVE NO DOUBT FOR EVERY ACTION, THERE'S AN EQUAL AND OPPOSITE REACTION THAT'S CALLED PRESIDENT DONALD TRUMP IF THIS DOES OCCUR AND HITS OUR COMPANIES, EXPECT SOME PUSHBACK AND GUESS WHAT THAT'S GOING TO BE? JONATHAN'S FAVORITE TARIFFS >> I HOPE — WHY WOULD HE PUT TARIFFS ON AMERICANS? THAT'S WHAT I DON'T UNDERSTAND

HE'S GOING TO HAVE A TRADE WAR NOW WITH FRANCE BECAUSE FRANCE IS TAXING AMERICAN COMPANIES? HE'S GOING TO TAX AMERICANS WHO — LOOK, ANYTHING BUT — INSTEAD OF MORE TAXES, WHY NOT GET RID OF TAXES? THAT'S THE PROBLEM HERE FRANCE IS THIS BIG TAX, BIG ENTITLEMENT STATE THEY HAVEN'T HAD UNEMPLOYMENT BELOW 7% IN FRANCE SINCE THE EARLY 1980s GARY, TO YOUR POINT, THEY ARE LITERALLY RUNNING OUT OF PEOPLE TO TAX THEIR HIGHEST TAX RATE IS ALREADY BASICALLY IN EXCESS OF 50%

SO THE US RESPONSE SHOULD BE OUTRAGE BUT IT SHOULDN'T BE TO RAISE TAXES ON AMERICANS BUT TO LOWER TAXES ON BIG TECH AND EVERYONE ELSE MAKE AMERICA THE LOW TAX HAVEN THAT OWL CORPORATIO THAT ALL CORPORATIONS WANT TO DO BUSINESS IN

>> I THINK THIS IS SORT OF A WILLY SUTTON TAX IN THE SENSE THEY ARE GOING AFTER THE BIG TECH COMPANIES BECAUSE THAT'S WHERE THE MONEY IS >> THAT'S WHERE THE MONEY IS YES >> AS YOU POINTED OUT, THEY REALLY CAN'T GO ANYWHERE ELSE THEY HAVE A HUGE V

AT, HUGE TAXES ACROSS THE BOARD AND THE REALLY FRIGHTENING THING TO THE FRENCH PEOPLE IS THIS IS A PRO-BUSINESS PRESIDENT, MACRON AT LEAST WAS ELECTED TO KIND OF START DISMANTLING SOME OF THE BUREAUCRACY AND LABOR LAWS AND CUMBERSOME TAXES THAT HAVE STYMIED THAT ECONOMY IT ONLY GETS WORSE FROM HERE BY THE WAY, I THINK AMERICANS SHOULD BE OUTRAGED

THIS TOTALLY TARGETS US COMPANIES >> TO YOUR POINT, THE QUOTE FROM THE FRENCH ECONOMY MINISTER IS TECH GIANTS HAVE THE MONEY AND THEY MAKE BIG PROFITS, THANKS TO FRENCH CONSUMERS RIGHT ON THE DOT THERE

I THINK IT'S GREAT THAT I CAN USE THE WORD BIPARTISAN BECAUSE RIGHT NOW THERE'S BIPARTISAN SUPPORT AT THE WHITE HOUSE FOR THIS INVESTIGATION INTO THIS 3% DIGITAL TAX THAT WOULD BRING IN ROUGHLY $845 MILLION INTO FRANCE RETROACTIVELY STARTING FROM JANUARY 2019 I THINK IT'S CONCERNING, THOUGH, THAT REALLY WHAT THEY ARE TRYING TO DO IS PUSH FORWARD TO HAVE A CONSENSUS AMONGST THE E UCONN CENSUS AROUND THE GLOBE I KNOW WE WERE TALKING ABOUT THIS DURING THE BREAK BUT MORE SPECIFICALLY FOR THE EU, THEY TRIED TO FIGURE OUT HOW TO TAX INFORMATION COMPANIES AND THEY FAILED TO COME TO AN AGREEMENT AMONGST ALL OF THEM DAVID: BOTTOM LINE, FRENCH

Source: Youtube

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