Matt Gardner is a senior fellow at ITEP where he has worked since 1998. He previously served as ITEP's executive director from 2006 to 2016. Matt's work focuses on federal, state and local tax systems, with a particular emphasis on the impact of tax policies on low- and moderate-income taxpayers.
Amazon's latest annual financial report released last Friday paints a vivid picture of a company that is edging toward monopoly status--and doing so at the expense of U.S. taxpayers. First at the state and local level, then federally and internationally, Amazon has bullied lawmakers into bending tax laws to its advantage and made that the source of its competitive advantage over small businesses in the retail space. The company reported a record $35 billion in U.S.
A December 2021 report from the Institute for Local Self Reliance revealed the dark side of Amazon's revenue growth. The report, 'Amazon's Toll Road,' shows that while the company reports apparently modest profits from its retail sales , the company conceals massive profits from its third-party 'Marketplace' sales by generating huge, predatory losses on its direct Prime sales.
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