Data journalist covering technological, societal and media topicsDespite doubling its profits, Amazon has paid zero dollars in federal taxes for the second successive year. A recent report fromhas raised huge questions about the tax-paying habits of the tech giant, given that its profits soared from $5.6 billion in 2017 to $11.2 billion last year. Far from paying the statutory 21% income tax rate, the company actually reported a federal income tax rebate of $129 million.
The company also earned a tax rebate of $140 million on its 2017 earnings, meaning the tax rate was -2.5%. Senator Bernie Sanders was among those who criticized Amazon in the wake of ITEP's report, writing on Twitter that"If you paid the $119 annual fee to become an Amazon Prime member, you paid more to Amazon than it paid in taxes". Sanders has been consistently vocal in pressuring the company to increase its wages for staff.
Amazon already made headlines last week after it shelved plans to open a major new corporate campus in New York. The cancellation was welcomed by critics, including many Democrats, who were against the massive subsidies the city was offering to entice the move. Others, however, including New Mayor Bill de Blasio had initially welcomed the move, claiming it would create 25,000 jobs and result in massive economic benefits.
Good on them. We have MP's who zbuse expenses and dont care about the people. If we could do it who wouldn't.
As a shareholder I say this from the bottom of my heart: thank you PwC. Great work mate.
amazon
No tax rate is too high when tax loopholes exist.
Who does Amazon share with if not with the federal gov? Amazon=zero etiquette when it comes to rounding up the chips at the craps table...
Why? Or How? I think this would be great info to include in this article..
You cannot expect a voluntary contribution TaxReform
therealAGIRI Woah
YEAH WHO CARES, BUT WHAT ABOUT THAT RACIST SEXIST THIEF TRUMP’S TAXES?!?! TRUMPS TAXES ARE STILL A SECRET SO HES NOT MY PRESIDENT!! YEAH!! CMON LETS MAKE AMERICA STAY THE SAME AGAIN!!!!!!
EAT THE RICH
Sounds like they took lessons from Mr. Trump.
Me and the wife paid 16k in taxes. I'm glad I could do my part for billionaires!
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Amazon is projected to steal advertising market share from Google in 2019The numbers are a boon for Amazon's growing advertising segment, which offers a third stream of revenue for the company apart from its e-commerce and cloud businesses. I don’t know. I trust google /Microsoft better than Jeff and Amazon It's tragic the way this economy has evolved. We need the biosphere and not the billionaires. Money no longer even matters because the climate crisis is so severe. Every year more and more will be aware of that. This is the result of trading democracy for Davos. Hahahaha yeah right
Source: CNBC - 🏆 12. / 72 Read more »
Walmart's smart hiring will make it Amazon's 'worst nightmare' within 2 years, strategist saysWalmart's online presence is growing fast but has a long way to catch Amazon. 😎😎😎 Walmart, Bezos, Musk billionaires who need to be taxed the Eisenhower tax rate of 94% NEXT! HAHAHA.. ya right... Low income people that go to walmart aren't gonna create a online presence and people already setup in amazon aren't gonna move over to walmart. Also, amazon is a hub for numerous other stores while walmart.. sells walmart stuff.. this is a pipe dream.
Source: CNBC - 🏆 12. / 72 Read more »
Morgan Stanley: Push to electric vans and trucks will be led by Amazon and other 'megafleets'Amazon is one of many technology and logistics companies with a 'megafleet' of vehicles and Morgan Stanley thinks the e-commerce giant's goal of carbon neutrality will take 'EVs to the next level.' Probably going to slow down package delivery if they have to stop every hundred miles for 8 hours to charge. I wish someone could explain to me how EVs are carbon neutral? Imagine the environmental damage that will be done to mine the cobalt for the batteries. Probably 100x what a normal 18 wheeler would create. Stuff like this is utter nonsense
Source: CNBC - 🏆 12. / 72 Read more »
Ocasio-Cortez fires back at critics of her opposition to Amazon dealThe New York Democrat takes aim at those who questioned her understanding of tax breaks. She really doesn’t understand economics at all ... she is clueless . 25K new jobs averaging $150K is lost & she's celebrating? One term wonder. Amen
Source: YahooNews - 🏆 380. / 59 Read more »
With Amazon deal dashed, New York's vast tax breaks called into questionAmazon’s decision to abort its New York City deal last week provoked conflicts across the ideological spectrum, but there was striking agreement on one point: New York State and its cities’ economic development efforts are due for an overhaul A surprise package from Amazon amazon can pick a much better state This is the effect of a uneducated socialist dreamer! Sorry y’all it’s your baby New York!
Source: politico - 🏆 381. / 59 Read more »
Walmart is quietly outperforming Amazon this yearWalmart has handily outperformed rival Amazon over the last six months. Oppenheimer's Ari Wald and Chantico Global's Gina Sanchez argue there's a bullish case for both stocks. I only use Amazon as a last resort. I do not want to subsidize liberal management.
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Tesla the next Amazon? Shareholder sees the stock reaching $4,000Tesla shareholder Cathie Wood of ARK Invest says everybody is “beginning to adjust” for Elon Musk. Smoking lots of Hopium, he obviously is. Next amazon? I don’t know what they smoke this days which makes say such shit 🤡
Source: MarketWatch - 🏆 3. / 97 Read more »
New Details of Amazon, Berkshire Hathaway, JPMorgan Health Venture Emerge in Court TestimonyThe health-care joint venture is looking at how to redesign health insurance, among other efforts, according to newly unsealed court testimony from an executive at the health startup. Details? “Let’s exploit this giant s**thole!” - JeffBezos Now here is an industry that Bizit mentality of a race to the bottom, the lowest price could actually help us.
Source: WSJ - 🏆 98. / 63 Read more »
How a 12-year Vanguard win streak makes it the ‘Amazon of wealth management’Vanguard has taken in more money than any other fund company for 12 years in a row.
Source: MarketWatch - 🏆 3. / 97 Read more »