Now mega-companies spend money on intangible assets but they can expense immediately, so tax is deferred and they can grow without that tax friction.
Acquired intangible assets must be amortized (aka depreciation for things that don't physically exist) over 15 years, not immediately (some intangibles can be amortized over a 3-5 year time frame). And self-developed intangible assets cannot be amortized at all.
I don’t see the assets on their balance sheets? I.e, they’re being expensed. Our disagreement is about the definition of intangible asset. Under current regulations, intangible assets are understated versus reality. This is my point.
Acquired intangible assets must be amortized (aka depreciation for things that don't physically exist) over 15 years, not immediately (some intangibles can be amortized over a 3-5 year time frame). And self-developed intangible assets cannot be amortized at all.