Taxing Video Games – The Hunt for Taxes Part V

Politicians are eager to give more money and benefits to people in a bid to be re-elected.  As a result they hate raising taxes.  How can they increase the amount of money government takes from its citizens without “raising” taxes?  Find new things or ways to tax.

The city of Chicago has graciously provided a great example for our series; The Hunt for Taxes.

As of November 14, 2018 Chicago is taxing video games and other forms of amusements.  The new tax is called the amusement tax. The tax is specifically related to streaming services.

Here is a screen shot of what came up on your screen if you own a PlayStation:

What is the mantra from the beginning of taxation in the US and continues in many gatherings today?  “TAX THE RICH!”  If you own a PlayStation, listen to Spotify, or watch movies on Hulu or Netflix, you are now “rich” according to Chicago.  How does it feel to be one of the “rich” in this country?

Questions to consider:

1.  Are you aware of all the new ways we are being taxed?
2. Do you want to pay those taxes?
3. Would you like to legally avoid as much taxation as possible?
4. When do you want to start?