Governor Gavin Newsom has the most significant number of tech companies in the USA. Including Facebook, Google, Amazon, and YouTube. These companies already carry a burden of taxes in the state. However, now, Newsom has proposed a new burden on the companies. In this report in Bloomberg, they reported his idea of this “data divided.”
In his “State of the State” speech on Tuesday, Newsom said California is proud to be home to tech firms. But he said companies that make billions of dollars “collecting, curating and monetizing our data have a duty to protect it. Consumers have a right to know and control how their data is being used.”
“California’s consumers should also be able to share in the wealth that is created from their data,” Newsom said. “And so I’ve asked my team to develop a proposal for a new data dividend for Californians because we recognize that data has value and it belongs to you.”
Newsom didn’t describe what form the dividend might take, although he said: “we can do something bold in this space.” He also praised a strict California data-privacy law that will kick in next year.
This seems to be a step towards socialism. I looked up a quick summary of what socialism is and found this. Socialism is an economic system where the ways of making a living (factories, offices, etc.) are owned by society as a whole, meaning the value made belongs to everyone in that society, instead of a group of private owners. People who agree with this type of system are called socialists.
I am curious if this is what these liberal companies envisioned when they supported these liberal Democrats. Sure they are making millions and billions. Sure they have wealth beyond measure. However, what company wants a government to tell them what they have to do with their money and profits? Will this make these companies flee the state? Will this deter other tech companies from moving here or growing their company here? How will this affect unemployment? Also, then the housing market etc.?
These liberal representatives don’t sit down and look at the consequences of their actions. I am sure that many citizens are saying, heck yeah I’ll share in those profits. But what happens when the company leaves the state? What happens when hundreds of thousands lose their jobs?
UAF Contributor: Marie Penetranti