EDWARD J. McCAFFERY, professor of law, Gould School of Law.
This op-ed originally appeared at CNN on April 9.
So, you think you have it bad this tax season. Have you heard that Facebook founder Mark Zuckerberg will pay between $1 billion and $2 billion in taxes? That sounds like a tough pill for anyone to swallow.
But it is premature to start a pity party for Zuckerberg. The twenty-something billionaire reaped large financial gains from exercising the stock options that triggered his tax bill, and he has benefited from favorable tax rules along the way. Even better, Zuckerberg will survive his encounter with the tax man in a position to never have to pay taxes again for the rest of his life.
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ERNEST J. WILSON III, dean of USC’s Annenberg School for Communication and Journalism.
This op-ed originally appeared at Foreign Affairs.
As California’s high-tech firms grew to become economic powerhouses in the American economy, they punched below their weight politically. For the most part, they are not very savvy about the ways of Washington — they came late to the lobbying game — and their political strategies were naïve compared with those of old industrial sectors like oil and automobiles.
That seems to be changing. In January, a group of high-tech heavyweights, including Google and Wikipedia, along with less prominent combatants (155,000 Web sites in all) and nonprofits such as Fight for the Future, joined in a massive online blackout to protest the Stop Online Piracy Act (SOPA). Since the bill’s introduction in May 2011, a wide mix of representatives from the film, television, music, and publishing industries had been championing SOPA and its sibling, the PROTECT IP Act (PIPA), two pieces of legislation designed to address international theft of copyrighted U.S. intellectual property.
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