Social media companies continue to make significant profits, as Meta alone generated approximately $201 billion in annual revenue in 2025, according to Statista. The addictive nature of social media contributes to that revenue, as it’s been well documented that the mental effects platforms can have on users. This includes low self-esteem, peer pressure, and “infinite scrolling.” Therefore, taxing these social platforms could be a way to help mitigate the harmful effects. Illinois is one of the first states to implement such a strategy, but will it last?
