Amazon paid NO income taxes last year. I am against Amazon for that reason alone.
Amazon paid NO income taxes last year. I am against Amazon for that reason alone.
Fixating on massive corporations not paying tax is actually making the problem worse, because it takes attention away from the only thing that can fix the problem which is changing the law. Anything less is just asking companies to hurt themselves for no reason.
Just like how most people would pay lower taxes if it was legal, the same goes for companies. That's not saying I don't completely agree they need to pay their fair share - I do!
You can do both. In many if not all cases the tax loopholes are a result of an amazon-like company lobbying politicians, they’re not innocently taking advantage of a neutral situation.
Pick your battles.
It's the same argument you hear from businesses and affluent individuals: "If I don't [pay my employees as little as possible | take advantage of every tax loophole I can find | spend thousands of dollars lobbying congress | pollute the environment], my competitors will."
Of course, those excuses ring hollow when those same individuals aren't in favor of changing a broken system. Any politician that complains about fundraising but is not in favor of campaign finance reform is a hypocrite, IMHO.
Who's in charge of setting up the system again?
Telling people to stop complaining about abuse of the law is one of the best ways of preventing the law from ever being fixed.
This is not true. They paid no federal income tax which is not the same as no income tax. In 2018 they paid $1.2 billion globally[0] and I don't understand how much they paid domestically because deferred income tax is confusing to me.[1]
Taxes are extremely complicated and a lot of people (politicians especially) will pick one or two numbers that support their narrative. They know most people won't spend the time researching the context surrounding their "statistics" and they also bank on how people will misunderstand what they're reporting.
You just said "NO income taxes last year." The people popularizing the "no federal income taxes" meme know a lot of people will think it means "no income taxes."
[0] - https://www.marketwatch.com/investing/stock/amzn/financials [1] - https://www.investopedia.com/terms/d/deferredincometax.asp
Amazon didn’t break any laws when they paid whatever amount they did or didn’t pay. Also I’m not sure which oligarch you’re talking about.
And they’re not the only ones who did this. It’s just convenient to flash Amazons name next to this headline since there are enough companies out there who refuse to compete or do anything innovative but want you to blindly give them your money.