“Legislator in New York is introducing a law that would tax companies for the revenue they earn on data…..” Ireland: We host and give exceptionally favourable corporate tax rates to Facebook, Google, Microsoft, and others who made vast profits especially for their “owners”; and we must add, in COVID-19 2020 Pandemic Year. We too give so much of our personal data for free to these Tech Magnets who will use it to earn vast sums of capital going forward. “Data” is the new oil or gold. They know it but the truth is so do we? Let us start now by being active and seeking a value to be paid for our content and this should include Twitter content also. The article below is published in Fast Company. I often wonder what the value of my content would be if it entered the market arena and had a financial value. We were basically conned into giving up our data for free and now we are addicted especially to the smartphones and computers; it is the dopamine hit that creates the addiction.

  • 05-12-21
  • 7:00 am

A NY law would tax Facebook, Google, and other companies for using your personal data

A legislator in New York is introducing a law that would tax companies for the revenue they earn on consumer data, part of a wave of similar legislation.

[Source images: artisteer/iStock; Julien Maculan/Unsplash]

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States are broaching a new way to incentivize companies to keep data private—a sales tax. The latest effort comes from New York State Senator Andrew Gounardes, who has introduced the Data Economy Labor Compensation and Accountability Act in collaboration with Brooklyn Borough President Eric Adams. The proposal would enact the equivalent of a 2% tax on annual receipts earned off of the data of New York residents.

“Data is here and is being used and commoditized and commercialized in ways that we as laypeople don’t fully understand,” Gounardes says, noting that he subscribes to the idea that data is a new form of labor ** and that people are not being fairly compensated. This law is trying to fix that problem. “We’re trying to compensate people at large,” he says.

If this legislation is passed, it could generate hundreds of millions of dollars in annual revenue for the state. Gounardes says the earnings would be put toward educational and workforce programs, including funding for STEAM (science, technology, engineering, arts, and math) education in public schools. It would also go toward workforce retraining courses and digital literacy programs.

The rule would apply to any company that derives profit from controlling or processing personal data, including Facebook, Google, and Microsoft, among many others. New companies, erected within the last three years, will be temporarily exempt from the rule, and those with less than $5 million in revenue will be able to evade it altogether.advertisement

** Abstract

In the digital economy, user data is typically treated as capital created by corporations observing willing individuals. This neglects users’ role in creating data, reducing incentives for users, distributing the gains from the data economy unequally and stoking fears of automation. Instead treating data (at least partially) as labor could help resolve these issues and restore a functioning market for user contributions, but may run against the near-term interests of dominant data monopsonists who have benefited from data being treated as ‘free’. Countervailing power, in the form of competition, a data labor movement and/or thoughtful regulation could help restore balance.

Keywords: data economy, big data, data as labor, artificial intelligence, machine learning, monopsony power

JEL Classification: C55, D40, J42, L96

Suggested Citation: Arrieta Ibarra, Imanol and Goff, Leonard and Jiménez Hernández, Diego and Lanier, Jaron and Weyl, Eric Glen, Should We Treat Data as Labor? Moving Beyond ‘Free’ (December 27, 2017). American Economic Association Papers & Proceedings, Vol. 1, No. 1, Forthcoming, Available at SSRN: https://ssrn.com/abstract=3093683

EUROPE EU in contrast to US and China

About michelleclarke2015

Life event that changes all: Horse riding accident in Zimbabwe in 1993, a fractured skull et al including bipolar anxiety, chronic fatigue …. co-morbidities (Nietzche 'He who has the reason why can deal with any how' details my health history from 1993 to date). 17th 2017 August operation for breast cancer (no indications just an appointment came from BreastCheck through the Post). Trinity College Dublin Business Economics and Social Studies (but no degree) 1997-2003; UCD 1997/1998 night classes) essays, projects, writings. Trinity Horizon Programme 1997/98 (Centre for Women Studies Trinity College Dublin/St. Patrick's Foundation (Professor McKeon) EU Horizon funded: research study of 15 women (I was one of this group and it became the cornerstone of my journey to now 2017) over 9 mth period diagnosed with depression and their reintegration into society, with special emphasis on work, arts, further education; Notes from time at Trinity Horizon Project 1997/98; Articles written for Irishhealth.com 2003/2004; St Patricks Foundation monthly lecture notes for a specific period in time; Selection of Poetry including poems written by people I know; Quotations 1998-2017; other writings mainly with theme of social justice under the heading Citizen Journalism Ireland. Letters written to friends about life in Zimbabwe; Family history including Michael Comyn KC, my grandfather, my grandmother's family, the O'Donnellan ffrench Blake-Forsters; Moral wrong: An acrimonious divorce but the real injustice was the Catholic Church granting an annulment – you can read it and make your own judgment, I have mine. Topics I have written about include annual Brain Awareness week, Mashonaland Irish Associataion in Zimbabwe, Suicide (a life sentence to those left behind); Nostalgia: Tara Hill, Co. Meath.
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