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

Bullseye said:
They are already taxed at 7.2% to pay half of employee's Social Security tax. Not to mention how much they're taxed to pay employee's health insurance.
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I dont give a ****. Amazon is the most automated company in the world and 0$ in taxes means we need a flat Universal Basic Income tax paid directly to the people's bank accounts.
 
dirtpoorchris said:
I dont give a ****. Amazon is the most automated company in the world and 0$ in taxes means we need a flat Universal Basic Income tax paid directly to the people's bank accounts.
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nonsense.
 
Bullseye said:
They are already taxed at 7.2% to pay half of employee's Social Security tax. Not to mention how much they're taxed to pay employee's health insurance.
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So they get a Gold Star for paying for their payroll costs? Man, you guys are scraping the bottom of the barrel here. Without employees there isn't a business. Do we give them a silver start for rent and utilities? Travel costs? :roll:
 
JasperL said:
So they get a Gold Star for paying for their payroll costs? Man, you guys are scraping the bottom of the barrel here. Without employees there isn't a business. Do we give them a silver start for rent and utilities? Travel costs? :roll:
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"you guys"? As in . . .?
 
Bullseye said:
"you guys"? As in . . .?
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You and the person who liked you comment and told us about other payroll costs that employers pay, because they have...employees.

And I don't want to get in the weeds of an economics argument, but it's pretty well established that employers consider payroll taxes and the like part of the salary package (it's part of the cost of hiring that person), meaning employees ultimately 'pay' at least most or all of those employer-level taxes through lower wages. Same with benefits like health insurance.

Here's a good explanation. What Are Payroll Taxes and Who Pays Them? | Tax Foundation
 
HenryChinaski said:
Amazon Will Pay Whopping $0 In Federal Taxes On $11.2 Billion Profits | Fortune This is the same story for roughly 90 % of the returns that I'm thumbing through this tax season. Most of those in the "multi-millionaire" class are paying zero in Federal taxes. No one suffers like the rich.
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More hype about nothing. Loses in the past can be deducted when you start making money. I have done it myself in my own business. My start up years cost me a more than I made. Once I started making money I income averaged. All hype and a great story about nothing.

I think we should tax every business until they go under or move elsewhere. We can get rid of the entire fortune 500. They should all move to China and India where people want profitable industries to create middle class jobs. We can become a 3rd world country.
 
JasperL said:
You and the person who liked you comment and told us about other payroll costs that employers pay, because they have...employees.

And I don't want to get in the weeds of an economics argument, but it's pretty well established that employers consider payroll taxes and the like part of the salary package (it's part of the cost of hiring that person), meaning employees ultimately 'pay' at least most or all of those employer-level taxes through lower wages. Same with benefits like health insurance.

Here's a good explanation. What Are Payroll Taxes and Who Pays Them? | Tax Foundation
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Of course those things are considered employment costs, who disputed that? But they are still a tax.


I'm not familiar with the provisions Amazon is using to avoid paying taxes but I'm not going to get my skivvies in a knot, set my hair on fire, and run screaming into the night about it.
 
JasperL said:
That's true but the big boys represent the overwhelming majority of business activity, and influence.
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Less than half of business activity.
 
JasperL said:
Cite?
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My common knowledge. Lets try google- I'm not finding anything on point. Sources that show 48% of NON farm GDP is from small business, I suspect including farms would bump that up over 50%.
Small Business & Entrepreneurship Council

Point is, be it somewhere near 50% IS NOT the "overwhelming majority", especially since its probably just under 50%.
 
dixon01767 said:
My common knowledge. Lets try google- I'm not finding anything on point. Sources that show 48% of NON farm GDP is from small business, I suspect including farms would bump that up over 50%.
Small Business & Entrepreneurship Council

Point is, be it somewhere near 50% IS NOT the "overwhelming majority", especially since its probably just under 50%.
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OK, I'm not sure what the number is. I cited a source in this thread or another in the past week that indicated 75% of nominal GDP was from the Fortune 500. That seemed a bit high to me TBH, but the source seemed legit and appeared to use a good source for its figures. But you might be correct. :peace
 
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