Comment by franch

2 days ago

Italy's unconsolidated budget for 2025 is projected to be around 700 billion euros in revenue and 900 billion in expenditures:

https://www.rgs.mef.gov.it/VERSIONE-I/attivita_istituzionali...

So yeah, whoever talks about these fines as a strategy for fixing the budget knows nothing about the actual budget of a G7 state, these fines are completely immaterial to Italian fiscal policy.

For perspective, that's roughly equivalent to someone with a €50,000 annual income finding €7 on the street and someone claiming they're doing it "to survive."

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franch

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dmix  2 days ago

From a post I saw on reddit:

> In 2024 EU fined US tech companies €3.8B meanwhile public internet tech companies paid only €3.2B in income tax

How is it not a major budget contribution to have fines on American companies bigger than revenue from your entire tech industry?

That is a de facto tax, particularly when they announce these new fines monthly like clockwork.

  • troupo  2 days ago

    > fines on American companies bigger than revenue from your entire tech industry?

    1. As someone already mentioned, taxes != revenue

    2. On top of that, "public internet companies" != "entire tech industry"

    3. On top of that, tax evasion and creative accounting by "public internet companies" companies is well known, documented, and is subject to additional fines (not as often or as much as they deserve)

    4. On top of that "announce these new fines monthly like clockwork" speaks volumes about the state of the "public internet companies" and there continuous disregard for the law.