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Thread: Amazon Paid No Federal Taxes

  1. #1
    Senior Member Williamsmith's Avatar
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    Amazon Paid No Federal Taxes

    According to this article:

    https://newfoodeconomy.org/amazon-wh...doorbell-ring/

    Amazon earned 5.6 billion dollars in 2017 and Is expected to pay nothing in federal taxes. Amazon could have been responsible to pay 1.3 billion dollars in taxes under the standard coporate tax rate of 35% (not anymore). But since it takes advantage of tax loopholes by paying its employees stock options instead of salary increases.....it writes off when executives cash in stock options. In essence, the taxpayers are paying for the executives bonuses.

    Which is a neat trick for the richest man in the world. Jeff Bezos is worth 112 billion dollars. He beats Bill Gates by a whopping 22 billion dollars.

    But in the wealthiest country in the world......we canít afford healthcare for all.

  2. #2
    Senior Member rosarugosa's Avatar
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    That just defies comprehension!

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    So messed up, and meanwhile we have homeless vets and hungry children whose parents work full time and people starting go fund me for medical treatments.

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    Senior Member CathyA's Avatar
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    Something is very wrong here!

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    Nothing new here. My husband's former company paid out bonuses as stock options. Hoping it would give the employees an incentive to make the company bigger and better. If anyone has an issue with corporate taxes as written, get in touch with your various representatives.

    Quote: There’s nothing illegal or underhanded going on here. Amazon simply took advantage of standard corporate deductions available under the tax system, says Matthew Gardner, a researcher at the Institute on Taxation and Economic Policy (ITEP), a non-profit think tank focused on tax policy.

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    Mr Bezos does not seem to be as philanthropic-minded as other billionaires. It floors me that one man, one company has so much wealth and power.

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    Senior Member bae's Avatar
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    Quote Originally Posted by pinkytoe View Post
    Mr Bezos does not seem to be as philanthropic-minded as other billionaires. It floors me that one man, one company has so much wealth and power.
    Philanthropy in the self-made-extremely-wealthy is somewhat correlated with the age of the individual, and where they are in the trajectory of their life.

    Bezos is quite young - he was a classmate of mine, and he is still creating his company and his vision. While I "retired" when I was 36, and devoted most of my capital and efforts to the public good, Jeff is still fully-engaged in the "work" part of his life. I'm quite confident he'll step up to the plate once he achieves what he's striving for.

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    Senior Member Williamsmith's Avatar
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    Quote Originally Posted by sweetana3 View Post
    Nothing new here. My husband's former company paid out bonuses as stock options. Hoping it would give the employees an incentive to make the company bigger and better. If anyone has an issue with corporate taxes as written, get in touch with your various representatives.

    Quote: There’s nothing illegal or underhanded going on here. Amazon simply took advantage of standard corporate deductions available under the tax system, says Matthew Gardner, a researcher at the Institute on Taxation and Economic Policy (ITEP), a non-profit think tank focused on tax policy.
    I’m sure a change in tax law will not arise from the poor and middle class entreating their fully lobbied representatives for relief...as corporate America well knows. Legality being determined simply by the letter of the lawyers.....morality by the heart. No, I am sure that relief will be found by the same method relief was demanded under the banner of “no taxation without representation!” What the capitalist oligarchs seem to dismiss is that those with nothing, have nothing to lose. They believe that rich and poor are somehow “divinely created” where some founding fathers , namely Thomas Paine would say rich and poor are simply arbitrary divisions. We haven’t come very far in well over two centuries.

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    Senior Member Williamsmith's Avatar
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    Quote Originally Posted by bae View Post
    Philanthropy in the self-made-extremely-wealthy is somewhat correlated with the age of the individual, and where they are in the trajectory of their life.

    Bezos is quite young - he was a classmate of mine, and he is still creating his company and his vision. While I "retired" when I was 36, and devoted most of my capital and efforts to the public good, Jeff is still fully-engaged in the "work" part of his life. I'm quite confident he'll step up to the plate once he achieves what he's striving for.
    I hope Jeff is still able to step up to the plate when he gets done with the “work” or “accumulation” phase of his life and I hope there is someone left to step up for.

  10. #10
    Senior Member flowerseverywhere's Avatar
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    Quote Originally Posted by Williamsmith View Post
    I’m sure a change in tax law will not arise from the poor and middle class entreating their fully lobbied representatives for relief...as corporate America well knows. Legality being determined simply by the letter of the lawyers.....morality by the heart. No, I am sure that relief will be found by the same method relief was demanded under the banner of “no taxation without representation!” What the capitalist oligarchs seem to dismiss is that those with nothing, have nothing to lose. They believe that rich and poor are somehow “divinely created” where some founding fathers , namely Thomas Paine would say rich and poor are simply arbitrary divisions. We haven’t come very far in well over two centuries.
    plus the list of the wealthy includes almost all white men. Interesting.

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