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Amazon Will Pay a Whopping $0 in Federal Taxes on $11.2 Billion Profits

avatar for ebonyplayboy
ebonyplayboy
Ride this motherfucker till the wheels fall off!
Those wondering how many zeros Amazon, which is valued at nearly $800 billion, has to pay in federal taxes might be surprised to learn that its check to the IRS will read exactly $0.00.

According to a report published by the Institute on Taxation and Economic (ITEP) policy Wednesday, the e-tail/retail/tech/entertainment/everything giant won’t have to pay a cent in federal taxes for the second year in a row.

This tax-free break comes even though Amazon almost doubled its U.S. profits from $5.6 billion to $11.2 billion between 2017 and 2018.

-----read the full article-----

http://fortune.com/2019/02/14/amazon-doe…

11 comments

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avatar for san_jose_guy
san_jose_guy
•
6 years ago
Do you know how they avoid such taxes? Usually corporations can just reabsorb profits so that they are no longer profits. But if they pay share holder dividends, then know they then do have to pay corporate taxes.

How much it is valued at is irrelevant to its tax liability.

It comes down to how you are counting profits.

SJG
avatar for Papi_Chulo
Papi_Chulo
•
6 years ago
As long as they are not breaking a law, then they are doing what anyone else would do - I yet to see anyone that tries to pay more taxes than they have to - if there is a bad-law that is being abused then change the fucking law
avatar for skibum609
skibum609
•
6 years ago
More false flag bullshit. How much did their employees pai n Federal income taxes? State income taxes? Social Security? Medicare? How much did Amazon pay in Social Security? Medicare? More lies from the pathological liars called progressives.
avatar for san_jose_guy
san_jose_guy
•
6 years ago
The OP was talking about corporate income tax.

SJG
avatar for Papi_Chulo
Papi_Chulo
•
6 years ago
I would imagine/assume they still pay plenty in other ways including likely a good-amount in unnecessary regulation-compliance (not that all regulation is bad but likely there's too-much $$$ wasted on a lot of it)
avatar for mark94
mark94
•
6 years ago
And, they get a huge subsidy from the USPS which delivers a high percent of their goods. The postal service charges below market rates. If they didn’t do that with Amazon and junk mail, they’d have to reduce their workforce. In fact, between email, FedEx, and UPS, we should probably just let the USPS go out of business.
avatar for san_jose_guy
san_jose_guy
•
6 years ago
But we don't want to be making tax give aways to keep businesses going, or to maintain jobs.

No reason for such.

SJG
avatar for san_jose_guy
san_jose_guy
•
6 years ago
Wendy Brown explains it best:

Wendy Brown. In the account of Neoliberalism. 2016
https://www.youtube.com/watch?v=tqQ_dIjr…

SJG
avatar for flagooner
flagooner
•
6 years ago
I blame Bush.
avatar for skibum609
skibum609
•
6 years ago
Wendy Brown lol. Progressive silliness.
avatar for san_jose_guy
san_jose_guy
•
6 years ago
Wendy Brown, one of the best at explaining how crazy the current state of neo-liberal affairs is.

Amazon is getting some sort of a federal tax rebate, for reasons not known.

SJG

extremely good:
https://www.youtube.com/watch?v=zEk1JAky…

Henry Monnier, cartoonist Merriman mentions.
https://medias.expertissim.com/media/cac…
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