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How does Amazon keep getting away with it?
Posted on 2/13/19 at 2:41 pm
Posted on 2/13/19 at 2:41 pm
quote:
Amazon will pay $0 in federal income taxes for the second year in a row
quote:LINK
Amazon, which doubled its profits and made more than $11 billion in 2018, won't pay any federal income taxes for the second year in a row, the Institute on Taxation and Economic Policy reported on Wednesday.
The company will not be required to pay the standard 21 percent income tax rate on its 2018 profits, and is claiming a tax rebate of $129 million, which ITEP describes as a "a tax rate of negative 1 percent."
22
Posted on 2/13/19 at 2:43 pm to Seldom Seen
quote:
How does Amazon keep getting away with it?
quote:
claiming a tax rebate of $129 million, which ITEP describes as a "a tax rate of negative 1 percent."
Posted on 2/13/19 at 2:43 pm to Seldom Seen
made 0 in profit. they are on life support. the only thing that will save them is finding that trump and the Russians were in collusion.
Posted on 2/13/19 at 2:43 pm to Seldom Seen
It is crony capitalism at its finest. This is what is wrong with the government. Too many regulations prevent competition and then too many loopholes let the big guys out of paying as per law/regulations were supposed to require.
Posted on 2/13/19 at 2:44 pm to Seldom Seen
St Amazon's Episcopal Church
Posted on 2/13/19 at 2:45 pm to Seldom Seen
Well done amazon
Posted on 2/13/19 at 2:47 pm to Seldom Seen
They have a large facility in Antarctica along with Whole Foods.
Posted on 2/13/19 at 2:48 pm to Seldom Seen
This is how corporatocracy works.
Their duty is to maximize value to their shareholders therefore there is a decent argument they are obligated to take advantage of every tax loophole they can find
Their duty is to maximize value to their shareholders therefore there is a decent argument they are obligated to take advantage of every tax loophole they can find
Posted on 2/13/19 at 2:51 pm to boosiebadazz
forcing all the libruls to shop there hasn't hurt their bottom line much.
Posted on 2/13/19 at 2:53 pm to boosiebadazz
I don't think anyone is blaming Amazon. The problem is the government giving them all these tax breaks.
Posted on 2/13/19 at 2:54 pm to Seldom Seen
quote:
How does Amazon keep getting away with it?
Trump doesn't pay income tax either. How does he get away with it?
quote:
CLINTON: Or maybe [the reason Trump doesn't release his tax returns is that] he doesn't want the American people, all of you watching tonight, to know that he's paid nothing in federal taxes, because the only years that anybody's ever seen were a couple of years when he had to turn them over to state authorities when he was trying to get a casino license, and they showed he didn't pay any federal income tax.
TRUMP: That makes me smart.
Posted on 2/13/19 at 2:54 pm to Brosef Stalin
quote:We could do the sensible thing and eliminate corporate taxes.
I don't think anyone is blaming Amazon. The problem is the government giving them all these tax breaks.
But yeah. The left would fricking melt entirely.
Posted on 2/13/19 at 2:59 pm to TBoy
quote:
Trump doesn't pay income tax either. How does he get away with it?
TRUMP isn't paying income tax because he isn't taking a salary.
Posted on 2/13/19 at 3:01 pm to ShortyRob
Am I supposed to be mad that Amazon is complying with tax law?
Posted on 2/13/19 at 3:03 pm to Seldom Seen
So how is that $11B going to get into the pockets of actual people without them paying taxes on it, unless it is in their 401ks or pension plans?
Posted on 2/13/19 at 3:06 pm to gthog61
That's $11B that's going in to Bezos' Scrooge McDuck vault for him to swim around in.
Everyone knows corporate fat cats keep all their money in huge vaults to swim in.
Everyone knows corporate fat cats keep all their money in huge vaults to swim in.
Posted on 2/13/19 at 3:08 pm to Seldom Seen
Capex I suppose. They take a long term approach to infrastructure and building out stuff. Their accountants must know depreciation better than anyone.
I think it’s bullshite that Amazon gets huge tax breaks that other corporations don’t get, it distorts the market. Sort of like China. When you bring them to heel it works out well for everyone.
I think it’s bullshite that Amazon gets huge tax breaks that other corporations don’t get, it distorts the market. Sort of like China. When you bring them to heel it works out well for everyone.
Posted on 2/13/19 at 3:10 pm to Seldom Seen
Don't worry about it. Once AOC signs some laws, Amazon will be at the tippy top and will pay.
Posted on 2/13/19 at 3:10 pm to Seldom Seen
AOC actually had a good argument about Amazons tax free ride Cuomo was trying to give them in New York.
Posted on 2/13/19 at 3:10 pm to Seldom Seen
The left is obsessed with identity politics, and the right with fetishizing big business. Whoever reforms first will win.
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