Should Argentinian citizens be allowed to save or invest their money in offshore bank accounts?Īn offshore (or foreign) bank account is a bank account you have outside of your country of residence. In April 2018 the European Union issued a series of proposals that would crack down on “online misinformation and fake news.” In June 2018 President Emmanuel Macron of France proposed a law which would give French authorities the power to immediately halt “the publication of information deemed to be false ahead of elections.” During the hearing Republican members of Congress criticized the social media companies for politically motivated practices in removing some content, a charge the companies rejected. House of Representatives Judiciary committee that they censor content for political reasons. In July 2018 representatives from Facebook, Google and Twitter denied to the U.S. In January 2018 Germany passed the NetzDG law which required platforms like Facebook, Twitter and YouTube to take down perceived illegal content within 24 hours or seven days, depending on the charge, or risk a fine of €50 million ($60 million) fines. Should the government regulate social media sites, as a means to prevent fake news and misinformation? Proponents argue that the jobs and tax revenue created by the companies eventually offset the cost of any awarded incentives. The European Union has strict laws which prevent member cities from bidding against each other with state aid (tax incentives) in an effort to lure private companies. Opponents argue that governments should spend the tax revenue on public projects instead and that the federal government should pass laws banning tax incentives. For the Arlington, VA headquarters the city and state governments gave Amazon $500 million in tax breaks. For the New York City headquarters the city and state governments gave Amazon $2.8 billion in tax credits and construction grants. More than 200 cities applied and offered Amazon millions of dollars in economic incentives and tax breaks. Amazon said the company could invest over $5 billion and the offices would create up to 50,000 high paying jobs. The announcement came a year after the company announced it would accept proposals from any North American city who wanted to host the headquarters. In November 2018 the online e-commerce company Amazon announced it would be building a second headquarters in New York City and Arlington, VA. Should cities be allowed to offer private companies economic incentives to relocate?
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