Joe Biden Said Amazon Doesn't Pay Enough Taxes. Amazon Wasn't Having It.

[GURPS]

Amazon wasn't having it. "We've paid $2.6B in corporate taxes since 2016," it tweeted back. "We pay every penny we owe. Congress designed tax laws to encourage companies to reinvest in the American economy. We have. $200B in investments since 2011 & 300K US jobs. Assume VP Biden's complaint is w/ the tax code, not Amazon."

First things first: Amazon does indeed pay taxes. In 2018, it shelled out $1.18 billion in local, state, and international income levies.

Federal corporate taxes are a different story, since Congress specifically devised them with a set of deductions meant to incentivize investment, create jobs, and spur economic growth. And Amazon does all that. In 2017, for instance, it invested $22.6 billion in research and development—the highest of any company that year. That huge number is just one such deduction included in the tax code, which explains how Amazon skirted federal taxes even with an impressive $11 billion in profits.

​

https://reason.com/2019/06/14/joe-biden-said-amazon-doesnt-pay-enough-taxes-amazon-wasnt-having-it/

 

[SamSpade]

Ooops.

 

[limblips]

"Federal corporate taxes are a different story, since Congress specifically devised them with a set of deductions meant to incentivize investment, create jobs, and spur economic growth. "

You mean the legal deductions Trump's organizations take that the left is all aquiver over?

 

[GURPS]

Gov Tax 'breaks' of incentives are all good and well until you need a boogyman then they are Corporate Give Away's for Fat Cat CEO's and Wall St

 

[Hijinx]

They all use the same tax breaks.

As do our politicians who keep crying about the rich, while we are supposed to ignore the fact that they are rich and taking advantage of the tax loopholes themselves.

 

[transporter]

You all do, of course, understand that the dollar amount isn't really the relevant concern?

When taxes are bought up it is the effective percentage of taxes paid vs the gross amount of income that is earned?

You all get that right? No...of course you don't.

Amazon's gross profit since 2016 was over $200B. https://www.macrotrends.net/stocks/charts/AMZN/amazon/gross-profit

They report paying $2B in corporate taxes since then. That equates to an effective tax rate of 1%.

The people working in their distribution centers for minimum wage pay a higher effective tax rate than that.

Oh and the reinvestment points are simply bullshit...companies have to reinvest in order to maintain/grow market share. The tax breaks are just a bonus. Even a dullard like Gilligan might understand that.

 

[GURPS]

and everything you said means NOTHING .... you simply parroted what was stated in the article with your atypical insults sprinkled in

and FAILED to address the FACT Amazon paid

$1.18 billion in local, state, and international income levies.

Oh and the reinvestment points are simply bullshit...companies have to reinvest in order to maintain/grow market share. The tax breaks are just a bonus.

Anyone or Anything that does not conform to YOUR World View is Either Ignorant, Uneducated or Selfish ..... or a Russian Bot

Every post you make is against anyone or any group that doesn't conform to your propagandist viewpoints.

 

[BOP]

Amazon wasn't having it. "We've paid $2.6B in corporate taxes since 2016," it tweeted back. "We pay every penny we owe. Congress designed tax laws to encourage companies to reinvest in the American economy. We have. $200B in investments since 2011 & 300K US jobs. Assume VP Biden's complaint is w/ the tax code, not Amazon."

First things first: Amazon does indeed pay taxes. In 2018, it shelled out $1.18 billion in local, state, and international income levies.

Federal corporate taxes are a different story, since Congress specifically devised them with a set of deductions meant to incentivize investment, create jobs, and spur economic growth. And Amazon does all that. In 2017, for instance, it invested $22.6 billion in research and development—the highest of any company that year. That huge number is just one such deduction included in the tax code, which explains how Amazon skirted federal taxes even with an impressive $11 billion in profits.

​

https://reason.com/2019/06/14/joe-biden-said-amazon-doesnt-pay-enough-taxes-amazon-wasnt-having-it/

That can't possibly be true. Amazon is a corporation. Corporations are evil. Therefore, Amazon is an evil corporation.

 

[This_person]

You all do, of course, understand that the dollar amount isn't really the relevant concern?

When taxes are bought up it is the effective percentage of taxes paid vs the gross amount of income that is earned?

You all get that right? No...of course you don't.

Amazon's gross profit since 2016 was over $200B. https://www.macrotrends.net/stocks/charts/AMZN/amazon/gross-profit

They report paying $2B in corporate taxes since then. That equates to an effective tax rate of 1%.

The people working in their distribution centers for minimum wage pay a higher effective tax rate than that.

Oh and the reinvestment points are simply bullshit...companies have to reinvest in order to maintain/grow market share. The tax breaks are just a bonus. Even a dullard like Gilligan might understand that.

So, you're against the law as it exists, got it.

What should it be, and what are the anticipated effects of what it should be?

 

[Merlin99]

Amazon wasn't having it. "We've paid $2.6B in corporate taxes since 2016," it tweeted back. "We pay every penny we owe. Congress designed tax laws to encourage companies to reinvest in the American economy. We have. $200B in investments since 2011 & 300K US jobs. Assume VP Biden's complaint is w/ the tax code, not Amazon."

First things first: Amazon does indeed pay taxes. In 2018, it shelled out $1.18 billion in local, state, and international income levies.

Federal corporate taxes are a different story, since Congress specifically devised them with a set of deductions meant to incentivize investment, create jobs, and spur economic growth. And Amazon does all that. In 2017, for instance, it invested $22.6 billion in research and development—the highest of any company that year. That huge number is just one such deduction included in the tax code, which explains how Amazon skirted federal taxes even with an impressive $11 billion in profits.

​

https://reason.com/2019/06/14/joe-biden-said-amazon-doesnt-pay-enough-taxes-amazon-wasnt-having-it/

I'd just tell him the same as Bernie "we paid the taxes that we owe". If it's good enough for a socialist, it should be good enough for them.

 

[glhs837]

Not sure which part of "Money directly invested into the economy has a far greater positive effect on the economy than ANY money EVER passed through the Federal govt" isnt clear. Never mind the cost of the passthrough, which is stupid high, the fact is that since we all know our systsem for deciding how to use tax dollars is broken as hell. Just remember how the stimulous money was spent. Does anyone really think that the politicians will spend that money to good effect? Is there any remote chance that they might create more jobs for more people with it?

 

[BOP]

Not sure which part of "Money directly invested into the economy has a far greater positive effect on the economy than ANY money EVER passed through the Federal govt" isnt clear. Never mind the cost of the passthrough, which is stupid high, the fact is that since we all know our systsem for deciding how to use tax dollars is broken as hell. Just remember how the stimulous money was spent. Does anyone really think that the politicians will spend that money to good effect? Is there any remote chance that they might create more jobs for more people with it?

Only if they can ensure those people will vote for them, and since most of their base doesn't actually work for a living, well....

 

[This_person]

Not sure which part of "Money directly invested into the economy has a far greater positive effect on the economy than ANY money EVER passed through the Federal govt" isnt clear. Never mind the cost of the passthrough, which is stupid high, the fact is that since we all know our systsem for deciding how to use tax dollars is broken as hell. Just remember how the stimulous money was spent. Does anyone really think that the politicians will spend that money to good effect? Is there any remote chance that they might create more jobs for more people with it?

Of COURSE politician will spend it better. They will spend it for the common good.

You saw that Tranny's position - speaking for the left completely - is that the companies owe more money to the government, because the money belongs to the government, not the company. Just because the companies don't have money anymore to reinvest (since they gave the government's money back to them), that doesn't mean that they won't still reinvest in R&D or other expansions into their business, because they HAVE to do that. They'll just take the money for THAT out of profits and high-officials' paychecks, like they always should have. There's no reason whatsoever that the CEO needs to make more than his secretary, after all.

 

[vraiblonde]

Recap:

Congress makes tax laws.
Gets pissed when Americans actually follow those laws.

 

[vraiblonde]

I wonder if Bezos will stop financially supporting Biden and contributing to his campaign coffers now?

 

[glhs837]

Recap:

Congress makes tax laws.
Gets pissed when Americans actually follow those laws.

Except when accused of being hypocritical about paying more in taxes like they preach we all should do, in which case they insist they are following tax law to the letter, as we all should.

 

[Toxick]

I wonder if Bezos will stop financially supporting Biden and contributing to his campaign coffers now?

Sport a contentious and hostile demeanor towards each other in public.

So no one questions the ball-fondling, tongue-in-mouth relationship in private.




And yes, I'm totally trying to project the image of Jeff Bezos and Joe Biden french-kissing and heavy petting each other wearing bathrobes that are casually flung-open with their semi-flaccid shafts touching.

Good luck getting that image out of your heads now.

 

[vraiblonde]

And yes, I'm totally trying to project the image of Jeff Bezos and Joe Biden french-kissing and heavy petting each other wearing bathrobes that are casually flung-open with their semi-flaccid shafts touching.

I'm going to my happy place now to try and erase that image from my wetware.

 

[David]

"We pay every penny we owe. Congress designed tax laws to encourage companies to reinvest in the American economy. We have. $200B in investments since 2011 & 300K US jobs. Assume VP Biden's complaint is w/ the tax code, not Amazon."

That's what Paul Harvey used to refer to as "the rest of the story."

You just have to love the internet. In the early, early days of just TV news, newspapers, and magazines, they could say anything they wanted and there was literally no way to challenge them or even discuss it with your peers outside of the local water cooler, not to mention research the facts. Then the internet came along and data started coming online coupled with powerful search engines. Then we the people could search for facts and the "rest of the story" and post our findings and conspiracy theories online for everyone else to enjoy. Now in 2019, a major presidential candidate can tweet bullshit and the respective company/group/individual can immediately respond online for all of the world to see. And while things can be deleted, there are the forever vigilant who make copies on their hard disk before that happens.

 

[Chris0nllyn]

And yes, I'm totally trying to project the image of Jeff Bezos and Joe Biden french-kissing and heavy petting each other wearing bathrobes that are casually flung-open with their semi-flaccid shafts touching.

Is this why people hate the word "moist"?