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

the top 1% pay about 37% of the income tax this has been proven fact for a while now.
the top 10% pay a little over 45%
the top 25% pay about 65%
and the top 50% pay about 98%
of the income tax.

i suggest that you do some research and have a little bit of knowledge on the subject before making your claims.

what you are not telling us is how this person/entity is setup.
there are certain tax structures that are beneficial to individuals running a business.

the other determination is how much is capital gains and how much is income from the selling of investments.
If it weren’t for the estate tax, the majority of the superwealthy’s money would never be taxed. The value of their stocks, bonds or real estate are only taxed when they sell them. When they hold them, and eventually pass them on to their kids, they benefit from one of the biggest loopholes in the entire tax code. The way it works is that it’s not your gains that are taxed, but rather theirs. So for example, that you had stock that went from being worth $10 million when you bought it to $100 million by the time you left it to your children. Your heirs wouldn’t owe any capital gains tax on that original $90 million increase, which you also didn’t pay any on, but only on any subsequent increases. That's what we call a “stepped-up basis,” and it overwhelmingly benefits the rich. The nonpartisan Congressional Budget Office, estimates that the top 1 percent receive 21 percent of its total money from it, with the next 9 percent getting 34 percent themselves. I'm thumbing through returns every day of the filthy rich and no they do not pay taxes. They share none of the tax burden, the middle class do.
 
I don't get why everybody in this country isn't furious about this. Even the nonsense with the headquarter. this just show the disgusting greed of corporation. Richest company in the world, richest CEO in the world, and yet they would only move to a state that gives them billions in tax breaks.

And yet, there are Americans that worship these corporation. It's not illegal or liberals destroying this country, its the greedy corporations and our government who work for these corporations




But it is easy to change, the dumb right needs to stop being idiots propagandized by Fox and believe brown people are the cause of al lthe problems and realize its this disgusting nature of politicians working only for the rich. They don't even hide it.

That and all those who don't vote are too blame, allows the politicians to influence the dumb so they ignore this.

We need to have a "French Revolution" type event,

I notice that everyone is aghast that companies run by Democrats pay little to nothing in corporate taxes. Meanwhile Progressive Marxist Socialist Democrats do nothing to stop this. Let's see, Bezos, Buffett, Gates, Bloomberg, and Zuckerberg just to mention a few that virtually pay no taxes. then there's those multi-millionaire politicians in Washington. Sure they get there with no money but within a year or two are socking those bucks away by hook or crook. BTW, a French revolution would be a bloody thing.
 
I notice that everyone is aghast that companies run by Democrats pay little to nothing in corporate taxes. Meanwhile Progressive Marxist Socialist Democrats do nothing to stop this. Let's see, Bezos, Buffett, Gates, Bloomberg, and Zuckerberg just to mention a few that virtually pay no taxes. then there's those multi-millionaire politicians in Washington. Sure they get there with no money but within a year or two are socking those bucks away by hook or crook. BTW, a French revolution would be a bloody thing.

And what do you, as an admitted Progressive Marxist Socialist Democrat, propose to do about it?
 
Too bad Trump didn't get the tax reform he wanted out of Congress. He had to take what they gave him.

Right. When it's revealed as a bad idea, Trump becomes an innocent bystander -- because we know that Trump can't veto, oh wait. Otherwise, he's the father of the idea. I have to laugh when conservatives say they accept personal responsibility.
 
Doc91478 said:
I notice that everyone is aghast that companies run by Democrats pay little to nothing in corporate taxes. Meanwhile Progressive Marxist Socialist Democrats do nothing to stop this. Let's see, Bezos, Buffett, Gates, Bloomberg, and Zuckerberg just to mention a few that virtually pay no taxes. then there's those multi-millionaire politicians in Washington. Sure they get there with no money but within a year or two are socking those bucks away by hook or crook. BTW, a French revolution would be a bloody thing.
Corporate management has a primary duty to their shareholders. That means paying the lowest taxes as legally allowed.
Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one's taxes.

Gregory v. Helvering, 69 F.2d 809, 810 (2d Cir. 1934)
The problem is tax laws that are written by lobbyists which allow profitable corporations to pay no taxes.
 
Right. When it's revealed as a bad idea, Trump becomes an innocent bystander -- because we know that Trump can't veto, oh wait. Otherwise, he's the father of the idea. I have to laugh when conservatives say they accept personal responsibility.

shrug...

Politics is politics. Just like with other issues, Trump tells Congress what he wants and they end up working out a deal.

Trump got a tax reform deal, but it wasn't totally what he wanted. If he had gotten what he wanted, Amazon very well could be paying taxes this year.
 
I notice that everyone is aghast that companies run by Democrats pay little to nothing in corporate taxes. Meanwhile Progressive Marxist Socialist Democrats do nothing to stop this. Let's see, Bezos, Buffett, Gates, Bloomberg, and Zuckerberg just to mention a few that virtually pay no taxes. then there's those multi-millionaire politicians in Washington. Sure they get there with no money but within a year or two are socking those bucks away by hook or crook. BTW, a French revolution would be a bloody thing.

Good, it should be, those scumbags have openly been screwing us for decades
 
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These stories are only about the headlines and they never say the why. How many losses did Amazon incur building up the business to where it is now? How many of those loss carryforwards remain unused? How much in payroll tax does Amazon pay on it's employees? How much has Amazon invested in employees, property, plant and equipment?

I need more than headlines to determine if I should be outraged or not.

Coimpanies get all these write off, but trumps tax bill scam removed a lot of write offs for the middle and lower class. Even billionaires pay a small effective rate because they get more write offs. Someone making median wage pays like 25-30% in taxes while bilionaires pay 17%.

They own the politicians, they get the tax breaks. And amazingly we have so many stubborn, stupid people excusing this nonsense becuase they are fed propaganda spread by the very same people that are screwing the average person.

I say its almost time to bring out the guillotines (in this case, I hope its through people actually voting) and ridding these corrupt politicians working solely for their donors.

Unsurprisingly, republicans are against campaign finance reform, that's how they make their living. Dupe their constituency with dumb stuff like illegals and abortion and tax breaks, while they give the country away to the top few
 
Coimpanies get all these write off, but trumps tax bill scam removed a lot of write offs for the middle and lower class. Even billionaires pay a small effective rate because they get more write offs. Someone making median wage pays like 25-30% in taxes while bilionaires pay 17%.

They own the politicians, they get the tax breaks. And amazingly we have so many stubborn, stupid people excusing this nonsense becuase they are fed propaganda spread by the very same people that are screwing the average person.

I say its almost time to bring out the guillotines (in this case, I hope its through people actually voting) and ridding these corrupt politicians working solely for their donors.

Unsurprisingly, republicans are against campaign finance reform, that's how they make their living. Dupe their constituency with dumb stuff like illegals and abortion and tax breaks, while they give the country away to the top few

Explain all these write offs companies get and why they shouldn't get them. Please be specific.
 
If it weren’t for the estate tax, the majority of the superwealthy’s money would never be taxed. The value of their stocks, bonds or real estate are only taxed when they sell them. When they hold them, and eventually pass them on to their kids, they benefit from one of the biggest loopholes in the entire tax code. The way it works is that it’s not your gains that are taxed, but rather theirs. So for example, that you had stock that went from being worth $10 million when you bought it to $100 million by the time you left it to your children. Your heirs wouldn’t owe any capital gains tax on that original $90 million increase, which you also didn’t pay any on, but only on any subsequent increases. That's what we call a “stepped-up basis,” and it overwhelmingly benefits the rich. The nonpartisan Congressional Budget Office, estimates that the top 1 percent receive 21 percent of its total money from it, with the next 9 percent getting 34 percent themselves. I'm thumbing through returns every day of the filthy rich and no they do not pay taxes. They share none of the tax burden, the middle class do.

the top 1% pay about 37% of the income tax this has been proven fact for a while now.
the top 10% pay a little over 45%
the top 25% pay about 65%
and the top 50% pay about 98%
of the income tax.

please address the facts.
you stated that the top 1% don't pay anything.
you are 100% wrong.

can you address the actual facts or not?

Who Pays Income Taxes, and How Much? | St. Louis Fed

you said they share none of the tax burden
the FED says you are 100% wrong.

50% of the country is paying 96% or so of the taxes.
the top 10% are paying 55% of the income tax.
 
It's sad that when your ignorance of economic and tax issues is exposed, you have no rational rebuttal.

Sad and fun!

still didn't say anything have a nice day.
you have yet to have a rational post that anyone can read.
 
still didn't say anything have a nice day.
you have yet to have a rational post that anyone can read.

It's sad that when your ignorance of economic and tax issues is exposed, you have no rational rebuttal.

Sad and fun!
 
the top 1% pay about 37% of the income tax this has been proven fact for a while now.
the top 10% pay a little over 45%
the top 25% pay about 65%
and the top 50% pay about 98%
of the income tax.

please address the facts.
you stated that the top 1% don't pay anything.
you are 100% wrong.

can you address the actual facts or not?

Who Pays Income Taxes, and How Much? | St. Louis Fed

you said they share none of the tax burden
the FED says you are 100% wrong.

50% of the country is paying 96% or so of the taxes.
the top 10% are paying 55% of the income tax.
I've addressed the facts. The top 1 % pay near to zero in Federal income taxes. And pay very little on investment returns if any. I see these returns every day. Public figures, 2 professional sports teams, politicians, trust fund babies and unknown regular citizens that are filthy rich. You don't know what the hell you're talking about.
 
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I've addressed the facts. The top 1 % pay near to zero in Federal income taxes. And pay very little on investment income if any.

ok so you can't deal in facts even though you were shown to be 100% wrong.
that is all i needed to know. it is there in black and white for everyone to see that you are completely wrong.

so have a nice day. i am not going to bother discussing this with someone that is so dishonest.
 
shrug...

Politics is politics. Just like with other issues, Trump tells Congress what he wants and they end up working out a deal.

Trump got a tax reform deal, but it wasn't totally what he wanted. If he had gotten what he wanted, Amazon very well could be paying taxes this year.

Where is the Trump proposal asking Congress to be tougher on corporations? Every Trump statement is the opposite of what you wrote like this and this. There is no evidence that the tax plan that was passed diverges at all from what the Trump favored.
 
Well, to be honest I can't personally imagine any situation where a major corporation raking in billions of dollars in profits should be able to pay ZERO corporate taxes.

Especially when the recent tax cuts reduced the corporate tax from 35% down to 21%. New Tax Law: Here’s What You Should Know | Charles Schwab

Can't think of any situations whatsoever? Even if they previously lost billions trying to build a business and are not yet breakeven on their losses vs gains?
 
I've addressed the facts. The top 1 % pay near to zero in Federal income taxes. And pay very little on investment returns if any. I see these returns every day. Public figures, 2 professional sports teams, politicians, trust fund babies and unknown regular citizens that are filthy rich. You don't know what the hell you're talking about.

You are absolutely right. I just finished working on a 1065 for a client with more than $6 million profit and he owed absolutely no tax with that return. I'll be doing a multi million dollar 1120S today too and expect that there won't be any tax due with that return either.

I was going to say something sarcastic in response to your claims but I won't.

There are reasons that someone with large amounts of income would pay zero taxes but, frankly, I doubt that you could explain them. Your claims are simply absurd and, I suspect, based more in ignorance than actual malice.
 
Time to tax all corporations 5% and pay it directly to all Americans as Universal Basic Income for at least 10 years.

There is another way to do that... it's called buy corporate stock.
 
Where is the Trump proposal asking Congress to be tougher on corporations? Every Trump statement is the opposite of what you wrote like this and this. There is no evidence that the tax plan that was passed diverges at all from what the Trump favored.

Which one of these did Congress include in the tax reform bill they sent to Trump?

Reducing or eliminating deductions and loopholes available to the very rich, starting by steepening the curve of the Personal Exemption Phaseout and the Pease Limitation on itemized deductions. The Trump plan also phases out the tax exemption on life insurance interest for high-income earners, ends the current tax treatment of carried interest for speculative partnerships that do not grow businesses or create jobs and are not risking their own capital, and reduces or eliminates other loopholes for the very rich and special interests. These reductions and eliminations will not harm the economy or hurt the middle class. Because the Trump plan introduces a new business income rate within the personal income tax code, they will not harm small businesses either.

A one-time deemed repatriation of corporate cash held overseas at a significantly discounted 10% tax rate. Since we are making America’s corporate tax rate globally competitive, it is only fair that corporations help make that move fiscally responsible. U.S.-owned corporations have as much as $2.5 trillion in cash sitting overseas. Some companies have been leaving cash overseas as a tax maneuver. Under this plan, they can bring their cash home and put it to work in America while benefitting from the newly-lowered corporate tax rate that is globally competitive and no longer requires parking cash overseas. Other companies have cash overseas for specific business units or activities. They can leave that cash overseas, but they will still have to pay the one-time repatriation fee.

An end to the deferral of taxes on corporate income earned abroad. Corporations will no longer be allowed to defer taxes on income earned abroad, but the foreign tax credit will remain in place because no company should face double taxation.
Reducing or eliminating some corporate loopholes that cater to special interests, as well as deductions made unnecessary or redundant by the new lower tax rate on corporations and business income. We will also phase in a reasonable cap on the deductibility of business interest expenses.

Tax Reform | Donald J Trump for President
 
What deductions might those be?

You name it! Operating Expenses, Employee Expenses, insurance, travel, advertising, professional services, decor, tables, chairs, etc. corporations even have the option to write off bad debts and losses related to credit sales from customers. The list goes on.
 
You are absolutely right. I just finished working on a 1065 for a client with more than $6 million profit and he owed absolutely no tax with that return. I'll be doing a multi million dollar 1120S today too and expect that there won't be any tax due with that return either.

I was going to say something sarcastic in response to your claims but I won't.

There are reasons that someone with large amounts of income would pay zero taxes but, frankly, I doubt that you could explain them. Your claims are simply absurd and, I suspect, based more in ignorance than actual malice.
I collate and bind tax returns all day long for one of the top accounting firms in the world. You don't need to explain why multi-millionaires and billionaires don't pay their fair share. I'm all ready privy to those reasons.
 
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