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It is pure insanity that we allow corporations like Apple to charge a private sales tax on all business conducted on devices that they have sold. Were I in Congress, I would work to limit such taxes to cost of service provided plus a reasonable profit.https://www.nytimes.com/2020/07/28/technology/apple-app-store-airbnb-classpass.html …
The cost of service should be limited to the actual costs of operating the App Store. As far as "reasonable" profit above costs, I would put that in the 8% to 10% ROE range which is typically allowed for regulated industries.
Here is a link to C-SPAN's coverage of today's hearings with Tech Company CEOs. https://www.c-span.org/video/?474236-1/heads-facebook-amazon-apple-google-testify-antitrust-law&vod …
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