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Tech Giants’ Obscene Pandemic Profits Are Begging to Be Taxed ...Middle East
America’s economic overlords offered their first-quarter earnings reports yesterday, and the news is, as expected, good for Silicon Valley. Beyond good, in fact. The country’s tech industry is taking in unprecedented amounts of money—“bonkers dollars,” as The New York Times described it. Facebook doubled its profits; Microsoft increased its cloud business revenue by 50 percent; Apple’s iPhone sales boomed from about $29 billion to $48 billion; and Amazon, king of kings in this group, reported $108.5 billion in quarterly earnings, an increase of 44 percent from the previous year. Even lesser-known entities like Shopify, which provides software for online merchants, are on a tear.The pandemic’
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