Amazon in Its Prime: Doubles Profits, Pays $0 in Federal Income Taxes

[PeeJ52]

This discussion thread was locked as off-topic by DonViejo (a host of the Latest Breaking News forum).

Source: Huffington Post

The tech giant reportedly used various tax breaks and credits to claim a $129 million rebate on $11 billion in profits last year.

Read more: https://www.huffpost.com/entry/amazon-federal-taxes-2019_n_5c660227e4b01757c369c5b3

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How's that Republican tax cut working for you? No wonder we can't have nice things...

[True Dough]

1. At a time when the U.S. national debt is approaching $22 trillion

[PeeJ52]

2. NetFlix gets a rebate, now Amazon gets a rebate? It's a good thing we lowered that corporate rate!

Paul Ryan needs to be put in jail. How can he go free after seeing what this tax plan is doing? Record deficit. Record profits for corporations with money still being sheltered overseas. No income taxes being paid, in fact rebates and refunds being given to some of the most profitable companies. This is wealth redistribution and needs to end now. No, it's not wealth redistribution. It's robbery!

[watoos]

7. 83% of Trump's/Ryan's tax scam,

went to the top 1%.

[jberryhill]

3. Nonononononono... you don't understand

We should be PAYING Amazon for all of the wonderful things it does.

Plus, all of their employees pay tax. So it's all good.

This is what I have been told on DU.

[watoos]

5. Yeah, I hear you,

you forgot to bash AOC. Democrats are good at eating our own aren't they?

That Foxconn deal in Wisconsin was unbelievable, Bezos wanted a piece of the action, divorces aren't cheap.

Here's a heart for that one.

[Honeycombe8]

4. This is what Howard Schultz wants to be sure to keep for big corporations. Zero income taxes.

That is shocking. And WRONG. When someone earning $30,000 a year pays more in income taxes than a huge corporation.


I've seen reports that GE and Exxon both had years where they, too, paid zero in taxes.

We have to win in 2020 and push to rectify this. This should NOT happen.

[DirtEdonE]

6. Here in NJ there's an investigation going on

of chris christie's economic development authority's billions of dollars in handouts to major corporations for sometimes moving across the street to a new location - we're finding out, as most already expected, there was little to no oversight of the terms, jobs weren't created and huge record profit making corporations were raking in millions of public tax dollars for doing virtually nothing.

The very people who rail against Socialism are the very people benefiting for what is obviously a socialist tax redistribution from WE THE TAXPAYERS to the very wealthiest corporations. When did this become standard practice? How is this even legal?

Do you want to know why our infrastructure is crumbling? Why our education system is far below par? Why we don't have universal health care for every American? Why our nation is fast becoming a third world dictatorship?

Taxes. We pay them. We don't have enough to pay for it all. They get tax breaks and incentives. Then they keep them even though they don't abide by any of the conditions required to receive their incentives.

This taxpayer funding of corporations and individuals who pay no taxes while extracting billions from the economy leaving us trillions in debt HAS TO STOP. It should be a felony to offer these incentives. They're just that immoral, anti-social and undemocratic.

https://www.insidernj.com/hearings-begin-tittel-demands-independent-audit-investigation-eda/

[watoos]

8. Corporations are the real welfare queens,

privatize the profits, Socialize the costs.

[PeeJ52]

9. After posting this I just had to stop and think for a minute and fell out of my chair...

One of the worlds most PROFITABLE companies, just DOUBLED it's profits, paid ZERO taxes, and we PAID them from the taxes we pay. Can that be possible?

[yaesu]

10. very few multinational corporations pay income tax & many even get subsidies. nt

[PoliticAverse]

11. And some people wonder why the big keep getting bigger. n/t

[pwb]

12. This is why New Yorkers told Amazon to stick their 3 billion dollar tax break request.

Even with all this money they couldn't agree to pay a living wage with benefits. No wonder N Y told them to take a hike.

[watoos]

13. Let's look at Donald Trump.

He borrows money to finance a casino where he launders money for the mob. He bankrupts the casino, doesn't pay back his loan but he is allowed to deduct the loss so that he doesn't have to pay taxes for 14 years.

Trump's tax returns would show that he doesn't pay taxes.

[Bengus81]

14. But,but the tax was 35% now 14%,they would just HAVE to be paying 14%!!!

That was the FUCKING MYTH about that 35% rate,very very few Corporations ever paid that amount or anywhere near it. Verizon and GE were paying around 4-5% before the Trump Tax SCAM took effect.

This 243 lb genius is going to run the ND to unbelievable numbers and it only gains speed as it goes.

[zaj]

15. Framing: Don't let the GOP put a liberal face on wealth and power

I'm not saying to excuse Amazon for it's ills.... but this is a GOP policy and stories like this shift the blame onto the left.

There are other abusers of wealth disparity that *we* should ensure are the face. This is a Dem community after all.

[DonViejo]

16. Locking...

Over 12 hours old. Published 02/14/2019 08:06 pm ET; posted on the LBN Forum Feb 15, 2019, 09:13 AM