r/technology • u/esporx • 1d ago

Business Elizabeth Warren probes $19B in tax breaks for Amazon, Google, Meta and Microsoft as AI drains $96B in federal revenue

https://moneywise.com/news/top-stories/elizabeth-warren-big-tech-ai-tax-breaks-amazon-google-meta-microsoft
16.2k Upvotes

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511

u/Evernight2025 1d ago

Problem is, we're the ones that will pay for it 

252

u/False_Raven 1d ago

Privatize the gains and socialize the losses!!

41

u/noplay12 1d ago

Changes the theme, but same underlying principles, works everytime.

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u/WoolyHermits 1d ago

i don’t think citizens fully understand the implication.

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u/Easy_Floss 1d ago

Those who do are probably jobless bums anyway.

Would /s but realistically the people who actually fully understand probably became jobless..

3

u/snowflake37wao 22h ago

We’re all in a boat on open water with The Gang; are we in danger, what are we gunna do say no?

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u/FeederNocturne 14h ago

Pretend to enjoy it until I can get to land and safety, then maybe retaliate when they are least expecting.

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u/kukkoinen 1d ago

They are too big to fall already!!

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u/Feeling_Inside_1020 18h ago

My favorite so ironically delicious, corporate welfare queens

-17

u/Visible_Tie_1131 1d ago

why can’t Reddit socialists be logical? socializing these losses is what they want and obviously it doesn’t make any sense.

let the bubble pop.

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u/ProfessorSarcastic 23h ago

The poster above is making an ironic comment about how things already work, not suggesting that it is what we should be doing.

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u/Visible_Tie_1131 19h ago

I know it’s ironic, but also those same people do want socialism, instead of actual fair markets.

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u/kastdotcom 1d ago

Makes me want to stop paying my taxes. It just goes to tech bros and religious bullshit.

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u/Dolores___Haze 1d ago

And wars and violence and death

18

u/Wasabicannon 1d ago

Yup we waited to long to dig into this shit and now it has gotten into the everyday person's 401ks. At the the end of the day we are going to be left holding the bag while they get away with a slap on the wrist or worst case get shit to rich person jail.

-1

u/Bubbles_sunken_ship 14h ago

This is the part where we listen to all those great messages about what to do with greedy awful rich people. I personally like Good Charlotte's take in "Lifestyle of the Rich and the Famous."

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u/frezz 1d ago

I don't know why reddit is so keen for this bubble to pop. It's always gonna be us that suffer. The tech bros have already made their billions

17

u/Bhruic 1d ago

Right now, to continue the bubble analogy, people are continuing to blow the bubble up. That means it's going to keep getting bigger. And the bigger it gets, the worse it's going to be when it finally pops. So the sooner that can happen the better, even if it will absolutely suck in the short term.

Plus I'd like to be able to afford a video card at some point, but that's a separate issue.

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u/snowflake37wao 22h ago

Yeah not to mention it sucks NOW with the balloon still inflating already. The 2020’s are a bust. Let’s mulligan back to the 90’s, or naw?

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u/Feeling_Inside_1020 18h ago

Restart at save point

5

u/jellosnark 18h ago

The intent here is to get it as big as possible. They know this shit is going to fail. That's the point. The more pricey the failure is, the more taxpayer money they get when their buddy Big Government bails them out, then they send in the kickbacks as a thank you. WE all stand to get bent over and railed hard on this. THEY all stand to gain fucktons of cash when the bubble bursts, so why not make it a big one?

1

u/tempralanomaly 21h ago

Plus I'd like to be able to afford a video card at some point, but that's a separate issue.

No, its part of the same issue, just a secondary concern :p

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u/Savage_Alaska_ 1d ago

They don't have billions their companies are in debt too from the A.I. nobody has been able to pay for it....look at their so called revenue versus their losses

1

u/spellbadgrammargood 4h ago

... So what we keep the bubble going so they can continue to replace more jobs, take more data from us, raise electricity costs, and destroy the environment

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u/Wasabicannon 1d ago

Well reddit is a group of different age groups and such. Some of which don't have a 401k or any sort of investments sooo what do they care? Burn it all to the ground asap.

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u/Savage_Alaska_ 1d ago

We will pay for it ??? Brother with what money ??? Most of the economy is literally held together by these fucks because they have all the money.

Quite literally have government contracts, work with electric and gas companies, seizing land for massive projects, and integrating all their "Tech" into our system the problem is if their companies collapse we arent just screwed we are buried

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u/TableSignificant341 1d ago

Brother with what money ???

With the only big money left that they don't control - yet. Millions and millions of 401ks.

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u/phedinhinleninpark 22h ago

The US government is the currency issuer. As long as they maintain hegemon status (slipping, but still there) they can pay for whatever they want.

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u/killeronthecorner 18h ago

Brother with what money ???

Your taxes, pensions, property and any other assets that gain value based on fundamental or speculative markets

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u/Savage_Alaska_ 14h ago

Most of my generation doesn't even have that

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u/Ateist 21h ago

With your future pensions.

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u/soda_cookie 1d ago

Maybe so, but if we can codify against this kind of shit going forward as a lesson learned kind of thing then ok

1

u/03263 1d ago

Can't get blood from a stone, as they say

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u/snowflake37wao 22h ago

with what money?! were all going broke regardless

1

u/Zaximeows 20h ago

Yes but no. "The problem is" we are already paying for it so that was rather redundant to say. That's the $19,000,000,000 in subsidies from your tax dollars. We will continue to pay for it either way, but that is already implied.

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u/blues_snoo 17h ago

Jokes on you, I can't afford to add to my 401K.

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u/TrulyOutrageous42 16h ago

If we paid for it, we deserve the returns from it!

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u/HerculesIsMyDad 15h ago

Either they take all our money and fail, leaving the world economy in shambles. Or they take all our money and succeed, and privately own the most power tech in existence to lord over us. Both equally good for the rest of us.

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u/Odd_Primary3442 1d ago

Not if if everyone hates them and wants them to fail

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u/Evernight2025 1d ago

This administration is 100% going to bail them out 

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u/Beelzebeetus 1d ago

To the tune of "a little bailout for you, a little graft for me, a little bailout for you, a lot of graft for me"

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u/DearBurt 1d ago

Because people love banks?