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Amazon paid no federal taxes on $11.2 billion in profits last year

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jmyrlefuller:
From Bezos's own paper.
https://www.washingtonpost.com/us-policy/2019/02/16/amazon-paid-no-federal-taxes-billion-profits-last-year/?noredirect=on

Amazon, the e-commerce giant helmed by the world’s richest man, paid no federal taxes on profit of $11.2 billion last year, according to an analysis of the company’s corporate filings by the Institute for Taxation and Economic Policy (ITEP), a progressive think tank.

Thanks to a variety of tax credits and a significant tax break available on pay handed out in the form of company stock, Amazon actually received a federal tax rebate of $129 million last year, giving it an effective federal tax rate of roughly -1 percent.

(excerpt)

Dexter:
If corporations are people their profits should be taxed like people. Shit like this is part of why Joe Everyday still pays a ton of taxes when he can already barely afford to keep his family above water.

Texas Yellow Rose:
Corporations are not in business to lose money.  If they are charged tax by the federal government, they simply pass that cost on to the consumer.  ...That would be you and me.

Drago:
If corporations are people, the people pay their income taxes on an individual basis.  As mentioned before, corporations don't pay income taxes, the end customer does. "Cost of doing business".
 

Dexter:

--- Quote from: Texas Yellow Rose on February 17, 2019, 12:42:44 pm ---Corporations are not in business to lose money.  If they are charged tax by the federal government, they simply pass that cost on to the consumer.  ...That would be you and me.

--- End quote ---

If big corporations got taxed more and raised their prices that would create room for a less taxed small business to compete. They can't just raise their prices indefinitely. At some point they have to eat a loss unless they want to lose all of their business. I think small business owners should be subsidized with the taxes taken from big corporations. I want to give the little guy an edge because I think that would help end the monopolization of our economy.

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