Amazon earned $5.6B in 2017, but paid no federal taxes

a reply to: Southern Guardian

It's too bad that the linked article goes into very little detail (meaning--basically none), otherwise we could have a legitimately intelligent discussion about this.

I've always advocated for getting rid of tax loopholes and write-offs and tax credits, and this is no different--no a single individual, let alone one of the largest corporations in the world, should be able to find ways to avoid paying taxes.

But with that abolition of such loopholes and write-offs, we also need to lower tax rates since people and companies wouldn't be able to legally weasel their way out of paying taxes. And not to mention, it would make estimating future revenues to the government that much easier.

a reply to: sligtlyskeptical

I am not sure that you are completely correct.

There are limits on loss deductions.

Just look at trump and how he done it.

Oh that's right bad example.

It has more to do with where their headquarters are located rather than the amount of loss they can claim every year and that is limited to a set amount of yrs.

You are not totally wrong though but several billion off.

originally posted by: 3NL1GHT3N3D1
I'm willing to bet everything I own that these corporate tax cuts won't affect America positively barely at all in the future. They'll probably last just long enough for the rich to benefit from them before the economy crashes and the working man is left out to dry.... again.

One tax cut could even be a negative if levies in other areas more than cancel it out, and there will be levies in other areas.

originally posted by: dfnj2015
a reply to: CharlesT

Corporations have no loyalty to the United States or its people.

Why should we? The government is nuts and so are the people here that run it and vote for it.

Living in the US is not a suicide pact.

originally posted by: SlapMonkey
a reply to: Southern Guardian

It's too bad that the linked article goes into very little detail (meaning--basically none), otherwise we could have a legitimately intelligent discussion about this.

I've always advocated for getting rid of tax loopholes and write-offs and tax credits, and this is no different--no a single individual, let alone one of the largest corporations in the world, should be able to find ways to avoid paying taxes.

But with that abolition of such loopholes and write-offs, we also need to lower tax rates since people and companies wouldn't be able to legally weasel their way out of paying taxes. And not to mention, it would make estimating future revenues to the government that much easier.

Fu** Taxes. and Fu** uncle sam.

Go Bezos!

a reply to: SlapMonkey

yea there will be no sources that reflect negatively on amazon.

because...GOOGLE

originally posted by: SlapMonkey
It's too bad that the linked article goes into very little detail (meaning--basically none), otherwise we could have a legitimately intelligent discussion about this.

It's Fox's usual way of demonising entities, rather than what it should be doing, drawing attention to the taxation system, which, let's face it, is a giveaway to big business...especially those with money salted away in the shell companies.

Businesses don't pay taxes, their customers do.

How many people did amazon employ during this period?

Yes, the employees paid taxes.

Yes amazon had to pay into Social security.

Perhaps they didn't pay federal taxes but a strong business helps our country.

a reply to: Wildbob77

So what/ Jeff Bezos paid taxes on every dollar he took out in stock he sold. Every employee of Amazon paid taxes on all their earnings. every stockholder who cashed in shares paid taxes on every single one of those shares, which is money that did not exist before and was earned by Amazon with rise of its business. 100% of the earnings of employees was taxed. 100% of the capital gains realized by stockholders was taxed. And you want the company to pay taxes as well. Isn't that double taxation? Sure sounds like it to me. Taxes are confiscation, pure and simple.

a reply to: schuyler

I would like to see you getaway with the same shat this clown is pulling but you can not.

a reply to: Wildbob77

Perhaps they didn't pay federal taxes but a strong business helps our country.

I would like to know how the largest company not paying income taxes is good for the country as a whole.

Do you realize that your dream of having the bezos way will never be reflected in your paycheck or the lack there of.

Sure we need to get rid of income taxes but allowing more robbery on top of robbery will not get us there.

It hurts you even if you are too desensitized to feel it.

originally posted by: SlapMonkey
a reply to: Southern Guardian

It's too bad that the linked article goes into very little detail (meaning--basically none), otherwise we could have a legitimately intelligent discussion about this.

I've always advocated for getting rid of tax loopholes and write-offs and tax credits, and this is no different--no a single individual, let alone one of the largest corporations in the world, should be able to find ways to avoid paying taxes.

But with that abolition of such loopholes and write-offs, we also need to lower tax rates since people and companies wouldn't be able to legally weasel their way out of paying taxes. And not to mention, it would make estimating future revenues to the government that much easier.

The tax code is how politicians dole out political favors. Every straight thinking person, whether left or right, should be advocating for simplifying the tax code. The less complex it is, the harder it is for individuals or entities to game the system.

There is no reason any individual or company should need to hire an army of CPAs and Tax Lawyers to file income taxes.

originally posted by: howtonhawky
a reply to: Wildbob77

Perhaps they didn't pay federal taxes but a strong business helps our country.

I would like to know how the largest company not paying income taxes is good for the country as a whole.

Do you realize that your dream of having the bezos way will never be reflected in your paycheck or the lack there of.

Sure we need to get rid of income taxes but allowing more robbery on top of robbery will not get us there.

It hurts you even if you are too desensitized to feel it.

They did pay taxes. The tens of thousands of Amazon shareholders pay capital gains taxes when they sell a share. The hundreds of thousands of employees pay federal income taxes. Corporate profits are paid out in dividends or put into retained earnings.

a reply to: Edumakated

lol
that was not the question. Let me rephrase it.

How is it good for our economy for them to not pay the same taxes every other business pays?

Let's hope that this does get out into the open and instead of (or in addition to) bashing Trump, people will boycott Amazon. Let's see how CNN spins it. I guess it isn't Amazon's fault they aren't paying taxes - it's got to be the current administration. Same for Apple and Alphabet. None of these wealthy corps have paid their share of taxes ever.

The tax cut should have come with rules to close the loopholes. But, we know politicians - on both sides - have no desire what's right except what's right for them.

a reply to: Southern Guardian

Amazon, how ironic is it that the bulk of their services are a direct threat to the Amazon.

a reply to: Southern Guardian

One of my biggest pet hates in todays world is how these giant companies circumnavigate and skip what they should be paying, of course i know they are private companies and will look for every loop hole possible, but how the hell can we be jailed for such offenses and these companies knowingly cheat millions from the system.

TLDR - shop elsewhere people, please!!

Don't forget their cozy relationship with USPS, where they pay less for shipping than anyone else meaning nobody can possibly hope to compete with them on anything they sell (which is EVERYTHING).

The Amazon Juggernaut promises to become a worse detriment to the little guy than Walmart's wildest dreams of goose-stepping world domination.