[whb07]

I don't subscribe to your second paragraph at all. "Extract wealth" how? I'm from the third world and I can instantly tell you the great value that people derive from applications like What's App and the like. To someone in EU or US it's easy to deride these silly applications, but to those who lack the infrastructure it gives new possibilities.

Take for instance the case of using what's app as a little store where people can offer services/goods. My mother in law dedicates her account on what's app to sell hand knitted baby clothes, and it provides her with reliable communication to clients.

Such applications are a NET BENEFIT to everyone involved and it's clear why What's App was given such a high price tag!

If I might ask what/where you are from that you think this way? I can tell you from personal experience and fundamental Adam Smith basic economics that these companies offer vastly more benefits to consumers and society as a whole than what little money can be taxed from them.

Also note, that Latin American countries and 99% of other countries don't propose to tax the tech companies and they still have vast benefits.

[lovich]

The EU has wealth in it from it's society and economy. The companies are extracting it by coming in, using their power to take control of the market from local companies and then not paying their share in taxes by using every loophole they can find.

Yes they provide a benefit, but you're bringing up Adam Smith like this is a situation with perfect competition. I might be on the wrong side of this and they are providing a benefit big enough thay the EU would get less net benefit from a local company, but can you admit that there could ever be a case where a company was acting in a way that was detrimental?