The IRS is on the hunt to find more ways to generate revenue in a global pandemic economy. The agency is now chewing on foreign creators that use Youtube for their videos. If they are monetized, then Youtube is the collector for the IRS. The tax money will be deducted from the creators' earnings before they are paid.
Here is the informational video that popped up on Youtube today that gives the details.
Bad enough Youtube takes a hefty chunk out of the creators earnings for their percentage of the revenue. Now the double whammy with taxes. I can understand it's their platform that they built that drives massive traffic there to their site so the creators get a boost of a possible wide audience. All those servers are using a lot of bandwidth and power for the site to have millions of videos online. However, Youtube has matured now and it seems the creators and the platform need each other to continue to grow.
As a creator outside of the USA and not a citizen, how do you feel about this policy? Is this a death blow to YouTube so that creators will jump to other platforms to upload their content that are not US based servers and companies to avoid the confiscation of income?
Is this another way to destroy the American economy and force more businesses offshore that is more welcoming of creators and entrepreneurs? There does seem to be a trend over the years to force business owners to make tough decisions about taking American innovation offshore just like manufacturing. Some of the manufacturing was taken over by other countries and never left the US. These US based businesses just said screw it and shut down.
Is this even a good idea when jobs are being destroyed by shut downs and technological innovation to the point people are no longer needed? Government should be looking for solutions instead of making matters worse.
Our motto here at Breaie on everything we read online, hear on the airwaves, and information provided by others is do this: Question everything, analyze, and always do your own research to "Be In The Know™" Breaie®
Mega shout out to Gerd Altmann for his beautiful picture he uploaded to Pixabay. Thank you.
