Nobody likes taxes but it’s a topic up for discussion all the time. Mining and selling of consumer data is so engrained in the current world of business and it’s the companies that benefit.  Right now some need power in New York for one example and as mentioned in the title many of the consumers affected by the hurricane have already been products that have been bought and sold.  As we have seen the economy depends largely on IT infrastructure in New York and that dependence exists in other places as well, and who benefits the most, companies, banks, other businesses.  Is there a way for them to pay for their use of modern day technologies..nope. 

Consumers pay for highways every time we buy a tire or go to the gas pumps so it’s about time we look at IT infrastructure an creating a source of revenue to maintain as well.  It’s the same thing and the economy doesn’t work without it.  This is a topic I have blogged about frequently here with tapping into this area as it is so profitable for companies to mine and sell data and as consumers we are finding their error rates climbing and we, as consumers and on our own dime have to fix everything banks,corporations, etc. foul up and it’s been going on a long time and with flawed data on the rise with some less than credible data services being sold at times, it’s an expense that is dumped on the consumer, even though we are earning less money today and holding more than one job to just exist. 

It’s not fair and equitable to even dump more responsibility on the consumer for corporate America data flaws and to deny services and credit for one example.  Setting up a quarterly tax and license is not a difficult model as we can pretty much base it on the model used for sales tax and being it would be brand new and not have to be built from existing technologies, the up and running time could be pretty fast. You can’t help but think about this when you see the likes (and this is just one example, link below) of stingy little companies like this that have found a way to operate outside the regulation of the federal government and make millions.  As a consumer you can’t even see what they send out about you.  Is this fair..no.  These folks were Chapter 42 of my Attack of the Killer Algorithm series and there’s more like them out there. 

E-Scoring Credit Algorithms Invisible To Consumers Used to Market and Evaluate, Does Not Fall Under Federal Law And Such Are Used by Insurance Companies - How Will This Work With Exchanges –Attack of the Killer Algorithms Chapter 42

This topic was also Chapter 17 of the Killer Algorithm series.  When you read in the news about companies being more profitable than ever, well this is a big chunk of it, banks too. 

Start Licensing and Taxing the Data Sellers of the Internet Making Billions of Profit Dollars Mining “Free Taxpayer Data”–Attack of the Killer Algorithms Chapter 17 - “Occupy Algorithms”– Help Stop Inequality in the US

 

Behavioral analytics is huge area for abuse and that’s not to say it’s all bad because it’s not but people abuse it like anything else, they write some code, write a study to substantiate their math and off they go.  Do we know they are gaining any “real” value here?  So much of it is information from the web and people lie their asses off on this part of the data, so credible in all area..nope and in some areas you have been “duped” and it goes something like this…

”Hey dude let’s crunch some numbers and see if we can come up with some analytics to sell”

I read a lot of the comments on the web from various sources and it’s even out there with people commenting on the fact that they are tired of reading predictions as they don’t work and this make being an economist a very tough job today for sure, as things change with the drop of an algorithm.  It’s really time to start separating some of garbage out there from what does have value and by licensing and taxing them we will not only gain revenue but it will put the “slick data willies” on alert. 

I keep giving the public example of Walgreens making short of $800 million in 2010 from just selling data only and that example alone can demonstrate how much available money there is to tax..billions and billions.  It would algo give the consumer a break to have a federal page where companies, banks, etc. were required to disclose what kind of data they sell and to who.  Think all these formulas you see out there today are credible..wake up.  In healthcare Cuomo proved it with the algorithms United Healthcare used for 15 years to short pay doctors and hospitals, remember that one and the class action suit finally settled and I think payments were made but again most took the amount United figured they owed them as this situation went so far back neither the doctors or the hospitals had the time and money to pull up and generate all the records for a larger claim, so they won again with the algorithms.  Watch this video and see gullible we are.  I have used it many times here as it applies. 



Big Data, Flawed Data, Business Intelligence, Where’s The Future and What Has Been Our Past…A World With ”Algo Duping” of Society and Consumers


We talk about the algos on the stock market, well they get you in every day life as well and the accuracy is getting worse, again that non credible data that gets sold as a Pandora’s box for knowledge.  There’s 4 videos on this blog on the left hand side, watch them and get educated as to why this data selling tax should exist.  In the wake of the hurricane damage in New York, one more great example to have this as who benefits, banks and companies.  Should we plan for funds to cover disasters, I think so and those who mine and sell the data off our backs  are making millions off the free data sounds like a good place for me and read through the series on the Attacks of the Killer Algorithms if you will to understand how this works behind the scenes, you do not see it, hear it but go try to buy a car, a house or get any loan and the potentially flawed information is there having you guilty of data you never created that is potentially full of flaws. 

Attack of the Killer Algorithms–Digest & Links for All Chapters–on How Math and Crafty Formulas Today Running on Servers 24/7 Make Life Impacting Decisions About You

How do you feel as a consumer knowing that corporations are all getting richer and with this and nobody pays attention and the government certainly is not a getting a share to have funding to help with disasters nor to help fund the NIH and FDA.  The GOP in Congress doesn’t seem to have a clue and even in my area the representative’s office seems to be more concerned about their tomatoes they grow n the patio.  Some of these businesses can’t wait to get up and running with the disaster in New York, they are not making money not having access to mine and sell your data.  Here’s where I commented on relief to the FDA and NIH with such a tax. 

One More Good Reason to Tax the Data Sellers– Create Additional Funding for the NIH and FDA From Sources That Otherwise Are Too Greedy to Share & Contribute

Long and short of all of this, we’ve been Algo Duped and where the money in a time of disaster that could help those who have been hurt…imagedata miners have already made money off their backs and time for a tax for this benefit it is stand continue, which it will as you can’t stop it as Congress seems to think but you and certainly get smart and use some current day methodologies to tax and get some revenue.  Fight fire with fire.  You never know who reads your stuff on the web at times but I had some nice comments on this one from Nielsen.  They would tune in here as they are rating game folks. 

Big Data, Flawed Data, Business Intelligence, Where’s The Future and What Has Been Our Past…A World With ”Algo Duping” of Society and Consumers

Yesterday, a study about “math”making you hurt…a little write up on it and from I see just from writing this blog, consumers, the media, everyone runs from this topic so maybe they are on to something.  The media today chases the OMG and the drama queen stories like crazy and if you look hard enough you will find a few that don’t and they are valuable reporters that investigate issues and still work on “reality” stories and I’m glad some of those folks are still around.  The OMG journalists at times get old and too many of the articles reported lack facts and just serve as a distraction with nonsense that stirs you up but gives you no direction to go.

“Algo Duping” – PLOS One Journal Publication Explains Why The Fear of Math Plays a Big Role As One Underlying Reason We All Get Duped And Those Who Don’t Fear Math Take All the Money, Gradually, Using “Mathematical Formulas & Algorithms”

Time to excise tax the data sellers who get their data for nothing (off the taxpayer’s backs) and their profits for free. It’s time they pay their share so we have funds for disasters, for the NIH and the FDA as we need this and some are not paying their share but are rather greedily profiting.  One more shade of greed that maybe is finally coming to light once you realize what goes on with servers operating 24/7 with mining and working your data and dumping out flawed data created by the Killer Algorithms.  You almost can’t find another tax resource area that is as big as this and sits under everyone’s nose because its invisible, but it does exist.  Take some aspirin for for the pain and let’s gets smart and put the responsibility where it belong and help the companies who make tangibles expand and create jobs so they can compete the stingy billionaire data selling data mining businesses.  BD

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