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Amazon will pay $0 in taxes on $11,200,000,000 in profit for 2018

Dittohead not! said:
Yes, it was.
And there was a big controversy over whether an out of state retailer should have to pay state sales taxes. The answer to that one was that they aren't paying sales taxes, but colleting them from the customers.
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I am not sure where that is at, I know that if a company has a presents in a state, they are expected to pay sales tax in that state,
even if the sale was from on line.
 
jimbo said:
According to the ITEP. A quick glance at their web site indicates a far left group not particularly interested in the truth.

Amazon almost certainly hasn't filed their taxes as of yet. I doubt they have issued 2018 financials. So it's speculation.
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Fox News: Amazon paid no federal taxes for tax year 2017
Amazon earned $5.6B in 2017, but paid no federal taxes | Fox Business

They did the same again for tax year 2018
Fact-check: Does Amazon pay '''$0''' in taxes?

They do pay some taxes to US states and foreign nations. But it is correct that they didn't pay any federal taxes for the past 2 years. Some part of that is based on changes made by the Trump tax cut.

You can thank Trump for making Amazon and Bezos wealthier.
 
Hedgology said:
Sure I can because everyone knows consequences doesn't matter. The law doesn't care if you committed a victim-less crime. It's still a crime. Unless you're prepared to prove that Amazon committed a crime, you have nothing...
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So you are stating this...
You don't agree with me and for that we can discuss this.


I am bringing forth points of the rule of law and ethics, that can be discussed and debated, just because you don't agree with it doesn't mean it cannot be proposed. It's valid. It's reasonable.
 
Visbek said:
Fox News: Amazon paid no federal taxes for tax year 2017
Amazon earned $5.6B in 2017, but paid no federal taxes | Fox Business

They did the same again for tax year 2018
Fact-check: Does Amazon pay '''$0''' in taxes?

They do pay some taxes to US states and foreign nations. But it is correct that they didn't pay any federal taxes for the past 2 years. Some part of that is based on changes made by the Trump tax cut.

You can thank Trump for making Amazon and Bezos wealthier.
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I credit the hundreds of millions of people buying things from Amazon for that. Since part of my retirement is invested in Amazon, its also making ME wealthier. Thanks Trump and consumers!
 
jonny5 said:
I credit the hundreds of millions of people buying things from Amazon for that. Since part of my retirement is invested in Amazon, its also making ME wealthier. Thanks Trump and consumers!
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Ehhhh... most of Amazon's profit is derived from their web services division. Their online retail division employs probably the largest and most successful marketing campaign in the world, hence your reference.
 
Tbird19482 said:
It seems a lot of people on here are ok with paying more in US income taxes then many large corporations.
the GAO stated that in 2017 42% of all large corporations that make over a million dollars in US profits do not pay 1 cent in US income taxes and in 2018 that will go up to about 65%
so the people that do pay US income taxes are paying for the infrastructure these corporations use to make their profits.
That is what is not fair if they use the infrastructure to make and get their product to market and make these large profits they should pay some of the taxes that pay for it
I personally do not like paying more in US income taxes then a Corp. that is making billions in US profits.
it is time to change the tax laws so these corps pay something
I think they should be able to deduct all the taxes they pay and nothing else and lower the corp. income tax rate to say a flat 7 to 9 % so they all pay something for using the infrastructure they use to make that profit
have a nice night
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Corporations are owned by people, who pay taxes. For infrastructure that help them own businesses/corporations. There is no reason I need to pay more taxes if I run a business for the infrastructure I already paid for with individual taxes. Youre treating a corporation as if its something separate from the people who own it. But it isnt. Its a legal fiction.
 
jonny5 said:
Corporations are owned by people, who pay taxes. For infrastructure that help them own businesses/corporations. There is no reason I need to pay more taxes if I run a business for the infrastructure I already paid for with individual taxes. Youre treating a corporation as if its something separate from the people who own it. But it isnt. Its a legal fiction.
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Which is precisely what I said earlier. While the corporation may not pay taxes, the money it generates goes to salaries and dividends, on which the recipients pay taxes.

For once, we're in agreement, but don't get used to it.
 
Dittohead not! said:
Which is precisely what I said earlier. While the corporation may not pay taxes, the money it generates goes to salaries and dividends, on which the recipients pay taxes.

For once, we're in agreement, but don't get used to it.
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Hah, though I do think corporations/their owners should indeed pay fees specific to their business. Like a fee specific to health inspection. No reason for everyone to pay that. But I suspect the OP and people who support them just want more money, rather than thinking about whether the way they get it is right or efficient.
 
jonny5 said:
Hah, though I do think corporations/their owners should indeed pay fees specific to their business. Like a fee specific to health inspection. No reason for everyone to pay that. But I suspect the OP and people who support them just want more money, rather than thinking about whether the way they get it is right or efficient.
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Paying their own way is only right.

Since they're not really people, corporations also shouldn't be able to make political donations and have lobbyists in Washington. Only their owners and employees should be able to do those things.
 
Rogue Valley said:
A gift from Donnie and the GOP.

The majority of Americans are getting back 8.4% less in tax refunds.
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Because those people are having less money taken from their pay check per month. You only get a refund when you over pay taxes throughout the year.
 
goldkam said:
To begin with based on the report I don't believe the tax law is ethical if it is one rule for this group and another rule for another group. Thus attempting to morph this into me arguing with someone following the law would be to distort my argument.



I understand that...of course businesses will utilise cost savings in any way possible. But I come back to my first point and now more importantly the rule of law.
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Then do you accept a Corporation is a Person?
 
Visbek said:
Fox News: Amazon paid no federal taxes for tax year 2017
Amazon earned $5.6B in 2017, but paid no federal taxes | Fox Business

They did the same again for tax year 2018
Fact-check: Does Amazon pay '''$0''' in taxes?

They do pay some taxes to US states and foreign nations. But it is correct that they didn't pay any federal taxes for the past 2 years. Some part of that is based on changes made by the Trump tax cut.

You can thank Trump for making Amazon and Bezos wealthier.
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The bold is a lie. Amazon uses the U.S. federal research and development credit so much it's not even funny. This is a 1981 tax credit that was made permanent in 2015 by Congress and Obama signing the law. Then the Property, Plant, and Equipment deduction ($60b in 5 years spent by Amazon) and Employee Stock Compensation deduction (basically every time the stock goes up its a deduction on Corporate) but those who got the stock pay the taxes on it.
 
The benefit of one business over another by the tax system can distort the market.
 
Dittohead not! said:
Paying their own way is only right.

Since they're not really people, corporations also shouldn't be able to make political donations and have lobbyists in Washington. Only their owners and employees should be able to do those things.
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Its the same thing. Why shouldnt a group of people be able to donate to a cause or lobby? A corp has many owners.
 
jonny5 said:
Its the same thing. Why shouldnt a group of people be able to donate to a cause or lobby? A corp has many owners.
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Because not every owner and employee of said corporation is likely to be on board with whatever the corporation, meaning the CEO and board, has in mind. If they want to form a PAC and donate individually, then fine, let them do so. What allowing corporations to donate accomplishes is giving way too much power to the elites who actually run the corporation. It's one more step in the road to an oligarchy.
 
Dittohead not! said:
Because not every owner and employee of said corporation is likely to be on board with whatever the corporation, meaning the CEO and board, has in mind. If they want to form a PAC and donate individually, then fine, let them do so. What allowing corporations to donate accomplishes is giving way too much power to the elites who actually run the corporation. It's one more step in the road to an oligarchy.
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Employees dont have to be on board. They have no say in the running of the company unless the owners say so. And owners dont have to like it either. There is a contract when you own it, and they signed on to it. If they dont want the company lobbying or donating, they can use their ownership rights to change it or they can sell their ownership.

Why do we need laws to force someone to do something you dont want them to do when you already dont have to take part in it? There is no possibility of an oligarchy so long as we have a supreme law which forbids it. Our law states that we are a republic with representatives elected by all citizens. So long as 3/4 of the state legislatures dont vote to change that, there can not be an oligarchy.
 
jonny5 said:
Employees dont have to be on board. They have no say in the running of the company unless the owners say so. And owners dont have to like it either. There is a contract when you own it, and they signed on to it. If they dont want the company lobbying or donating, they can use their ownership rights to change it or they can sell their ownership.

Why do we need laws to force someone to do something you dont want them to do when you already dont have to take part in it? There is no possibility of an oligarchy so long as we have a supreme law which forbids it. Our law states that we are a republic with representatives elected by all citizens. So long as 3/4 of the state legislatures dont vote to change that, there can not be an oligarchy.
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When it comes to the overall running of the corporation, you're correct. When it comes to paying for political influence, not so much. Owners of corporations should have no more political power than the rest of us. Giving them that power leads to an oligarchy, which is where the US has been headed for some time now.
 
Dittohead not! said:
When it comes to the overall running of the corporation, you're correct. When it comes to paying for political influence, not so much. Owners of corporations should have no more political power than the rest of us. Giving them that power leads to an oligarchy, which is where the US has been headed for some time now.
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They have no more political power than the rest of us. They have one vote, same as anyone. They have two representatives, same as anyone.
 
jonny5 said:
They have no more political power than the rest of us. They have one vote, same as anyone. They have two representatives, same as anyone.
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Corporations have two representatives? Now, we're seeing the problem: The representatives belong to the corporation, purchased lock, stock, and barrel.
 
Dittohead not! said:
Corporations have two representatives? Now, we're seeing the problem: The representatives belong to the corporation, purchased lock, stock, and barrel.
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You
Owners of corporations should have no more political power than the rest of us
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Me

They have two representatives, same as anyone.
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Employees have two reps as well, and one vote each. And they FAR outnumber owners. So employees have 1000x more political power than the corps they work for. Go ask them why they vote their owners into office.
 
jonny5 said:
You


Me



Employees have two reps as well, and one vote each. And they FAR outnumber owners. So employees have 1000x more political power than the corps they work for. Go ask them why they vote their owners into office.
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Because people are stupid and base their votes on political ads paid for by special interest money?
 
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