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Globe says Airbnb enjoys Canada losing its sovereignty

2025-07-02 07:54 ET - In the News

See In the News (C-ABNB) Airbnb CDR (CAD Hedged)

The Globe and Mail reports in its Tuesday edition that Prime Minister Mark Carney was wrong to cave to U.S. President Donald Trump, for there is nothing wrong with the digital services tax (DST). Guest columnist Taylor Noakes writes that the American tech giants that operate in Canada -- Amazon, Uber, Airbnb, Google and X -- have never been taxed properly, and the DST was intended to both update the tax code as much as generate tax revenue from exceptionally profitable businesses that were given a tax break for far too long. By not taxing U.S. tech giants, Canadians are subsidizing the U.S. We are subsidizing American tech giants that have been undermining Canada's economy as much as our sovereignty for many years. Amazon has decimated Main Street. Airbnb eliminated cheap rental housing. Google destroyed the ad revenue that paid for journalism. Facebook and Twitter are our No. 1 sources of hate speech and misinformation. Even with retroactive taxation and an estimated $7-billion in new revenue over five years, the DST was supposed to provide far too little in benefit compared to the economic and social destruction wrought by American tech giants. Mr. Trump has been handed de facto veto power over Parliament.

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