Milton Friedman: Internet Taxes Difficult
on Thursday, March 31, 2016Milton Friedman Money Quote saying collection of internet related income and expense will make taxes more complex for government. Milton Friedman said:
“The most important ways in which I think the Internet will affect the big issue is that it will make it more difficult for government to collect taxes” — Milton Friedman
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Milton Friedman is predicting that the internet will make it harder for governments to collect taxes effectively. He seems to believe the internet will enable new forms of commerce and economic activity that are difficult for tax authorities to monitor and regulate.
Friedman may be suggesting that digital transactions and cross-border online sales in particular pose challenges for identifying taxable income and enforcing tax compliance.
The quote implies the internet will give rise to loopholes that reduce governments’ ability to collect all the revenue they aim to through taxation policies.
Overall, Friedman views the internet as a technology that will complicate governments’ tax collection efforts by facilitating hard-to-track economic activity.
Birthday: July 31, 1912 Death: November 16, 2006