Having these fines from the 1930s arent hurting companies today, they are just a minor inconvenience.
Now, make the fines start at 40% of last years gross revenue (before they can do any tricky accounting to avoid shit by making their net income artificially lower, and also while accounting for any parent company/subsidiary bullshit), and it will cease to be an evil tax and start to be an actual fucking threat to the company.
and if the company fails and falls because of it, well, thats their fault. No one forced them to be evil and vile.
Plus a fine issued directly to the C suite, calculated the same way. Calculated on total pretax package and stock values. Make the decision makers fine payers and their “fiscal conservatism” might come in to play.
In a successful society these people would be prosecuted and jailed for crimes against humanity, failing that I wouldn’t mind seeing a few dozen billionaires and millionaires wind up in debtors prison.
I’ve said this for going on 2 decades now.
Having these fines from the 1930s arent hurting companies today, they are just a minor inconvenience.
Now, make the fines start at 40% of last years gross revenue (before they can do any tricky accounting to avoid shit by making their net income artificially lower, and also while accounting for any parent company/subsidiary bullshit), and it will cease to be an evil tax and start to be an actual fucking threat to the company.
and if the company fails and falls because of it, well, thats their fault. No one forced them to be evil and vile.
Plus a fine issued directly to the C suite, calculated the same way. Calculated on total pretax package and stock values. Make the decision makers fine payers and their “fiscal conservatism” might come in to play.
In a successful society these people would be prosecuted and jailed for crimes against humanity, failing that I wouldn’t mind seeing a few dozen billionaires and millionaires wind up in debtors prison.
And make sure the stock value is BEFORE the penalties are announced publicly. Little reverse-insider-trading damage.
That’s how GDPR works. It’s a percent of revenue or millions of Euros, whichever is higher.
It works great to actually regulate tech companies when they break laws.