General Category > Economy/Business
Amazon paid no federal taxes on $11.2 billion in profits last year
EdJames:
The whole tax code is screwed up.
ABX:
These articles are very deceptive and play on ignorance. In reality, Amazon paid almost a billion dollars in taxes last year- State, local, property, and the hundreds of other taxes assessed to businesses. Federal business income tax always comes last and is after all other taxes and expenses are deducted. Once all that was deducted, Amazon did not have a taxible profit.
They have a lot of revenue but not taxible profit on that, in no small part to all the other taxes they pay and they are rolling any pre-tax profit back into their business (expense).
There is absolutely nothing wrong with what they did and they aren't cheating anyone. At that, if they changed their filings to allow them to pay more taxes out of the goodness of their heart, that would be fiscally irresponsible and they would be sued by their shareholders.
They are playing by the rules. Knock off the greed game and learn to read a balance sheet. Taxation is still theft.
ABX:
--- Quote from: Dexter on February 17, 2019, 02:33:11 pm ---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.
--- End quote ---
I didn't know Bernie Sanders was a memeber here.
corbe:
Hard to believe his own damn newspaper published this.
Sanguine:
--- Quote from: ABX on February 17, 2019, 03:30:04 pm ---These articles are very deceptive and play on ignorance. In reality, Amazon paid almost a billion dollars in taxes last year- State, local, property, and the hundreds of other taxes assessed to businesses. Federal business income tax always comes last and is after all other taxes and expenses are deducted. Once all that was deducted, Amazon did not have a taxible profit.
They have a lot of revenue but not taxible profit on that, in no small part to all the other taxes they pay and they are rolling any pre-tax profit back into their business (expense).
There is absolutely nothing wrong with what they did and they aren't cheating anyone. At that, if they changed their filings to allow them to pay more taxes out of the goodness of their heart, that would be fiscally irresponsible and they would be sued by their shareholders.
They are playing by the rules. Knock off the greed game and learn to read a balance sheet. Taxation is still theft.
--- End quote ---
This needs to be repeated. I know Bezos is not liked right now, and stories that play on emotions sell papers, but this is a ridiculous story.
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