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Amazon paid no taxes on $11.2 billion profits last year.

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    Amazon paid no taxes on $11.2 billion profits last year.

    Do you think this is fair? Did people really think Trump was going to fix this broken tax system for us everyday folks? Seriously... wtf man.

    https://www.chicagotribune.com/busin...216-story.html
    https://finance.yahoo.com/news/amazo...180337770.html
    http://fortune.com/2019/02/14/amazon...al-taxes-2019/


    Said it before and I'll say it again:



    #2
    Profit =/= net profit

    Comment


      #3
      Originally posted by Kajin_Style View Post
      Do you think this is fair? Did people really think Trump was going to fix this broken tax system for us everyday folks? Seriously... wtf man.

      https://www.chicagotribune.com/busin...216-story.html
      https://finance.yahoo.com/news/amazo...180337770.html
      http://fortune.com/2019/02/14/amazon...al-taxes-2019/


      Said it before and I'll say it again:

      Intel makes a 50% profit every year, and they pay zero taxes because the Federal Government subsidizes the computer industry.

      Comment


        #4
        https://www.businessinsider.com/cia-...true&r=US&IR=T
        https://www.theatlantic.com/technolo...amazon/374632/

        This is far more worrying.

        Comment


          #5
          "The CIA is morally righteous"
          Originally posted by Kajin_Style ;n513566
          Why should I even give a damn that some faggot is being stoned to death in another country?

          Comment


            #6
            Originally posted by DokTOR. View Post

            "The CIA is morally righteous"
            - Hitler, 1969 :)

            Comment


              #7
              Originally posted by Louay View Post
              Profit =/= net profit
              • Amazon net income for the quarter ending December 31, 2018 was $3.027B, a 63.09% increase year-over-year.
              • Amazon net income for the twelve months ending December 31, 2018 was $10.073B, a 232.11% increase year-over-year.
              • Amazon annual net income for 2018 was $10.073B, a 232.11% increase from 2017.
              • Amazon annual net income for 2017 was $3.033B, a 27.92% increase from 2016.
              • Amazon annual net income for 2016 was $2.371B, a 297.82% increase from 2015.

              https://www.macrotrends.net/stocks/c...zon/net-income

              Amazon exceeded Wall Street expectations Thursday when it reported a record-breaking $2.5 billion second-quarter profit. As a result, the company's stock rose four percent in after-hours trading.

              While the company's net sales of $52 billion were below analyst's projections, the big story was Amazon's surprising profit.

              Driven by the AWS cloud business and its high-margin advertising business, Amazon's $2.5 billion net income in Q2 was more than ten times the level in the same period last year.

              https://www.businessinsider.com/amaz...-charts-2018-7
              Amazon's net income amounted to 3.02 billion U.S. dollars, up from the results of the preceding quarter with 1.8 billion U.S. dollars. During the fourth quarter of 2018, Amazon's net sales amounted to 72.38 billion U.S. dollars.

              https://www.statista.com/statistics/...ly-net-income/
              There's a lovely chart in that last one!

              Also there is a reason Bezo's net worth is $137 billion dollars and it is not because people add his debt and gross profits to come with that figure. That is capital in his possession.

              Comment


                #8
                GREed, FoR LaCk oF A BetTer woRD, is GOOd.

                Comment


                • Kajin_Style
                  Kajin_Style commented
                  Editing a comment
                  tHaNoS wAs RiGhT.

                #9
                FB_IMG_1550458937037.jpg

                Amazon's profits have far, far outpaced their tax burden for years. It's nothing new and nothing will change with the people we currently have in power.

                Comment


                  #10
                  Originally posted by Kajin_Style View Post








                  There's a lovely chart in that last one!

                  Also there is a reason Bezo's net worth is $137 billion dollars and it is not because people add his debt and gross profits to come with that figure. That is capital in his possession.
                  No, what I mean is that, as far as I know, losses from previous years can carry forward to future years when it comes to paying taxes. And while it is helping the big guns like Amazon it's also helping small firms avoid going out of business, and you can't just say "the rich ones don't get that benefit anymore" because where would you draw the line?

                  Comment


                    #11
                    Originally posted by Louay View Post

                    No, what I mean is that, as far as I know, losses from previous years can carry forward to future years when it comes to paying taxes. And while it is helping the big guns like Amazon it's also helping small firms avoid going out of business, and you can't just say "the rich ones don't get that benefit anymore" because where would you draw the line?
                    On the other hand, the big stores like Amazon and Walmart are the primary reason small businesses are suffering anyway. Lol

                    Comment


                      #12
                      Originally posted by Louay View Post

                      No, what I mean is that, as far as I know, losses from previous years can carry forward to future years when it comes to paying taxes. And while it is helping the big guns like Amazon it's also helping small firms avoid going out of business, and you can't just say "the rich ones don't get that benefit anymore" because where would you draw the line?
                      What line are you talking about? There is no line. They pay nothing infact the government had paid Amazon $129 million in a tax refund. Look I get there is some crazy fear that the rich would be taxed to death but they aren't even taxed properly to begin with. So how about we started there and then when people push for even more taxes on the rich, you are welcomed to cry "SOCIALISM!" all you want.

                      And second, this is something people should be taught in schools about businesses.

                      Jeff Bezo's wealth is not tied to Amazon at all. Amazon is a LLC and that means it is treated as its own entity, aka... like a person. It has its own bank accounts, its own tax return, its own property and pays people accordingly. From the years of running Amazon Jeff has amassed $137 billion dollars that he has either in shares, trading companies, other businesses, bank accounts and so on.

                      Right now he is in the middle of a divorce and his wife could theoretically get half of that. Yet her getting half his money would literally do nothing to Amazon because the money Amazon saves (if it saves any) is not tied to Jeff at all. This is why the rich stay rich. If a company does bad they have IT file bankruptcy while they keep whatever money and severance package they were due. If it can't recover enough from that or bounce back then they just sell off all the assets and give themselves the money.

                      Afterward he can just invest in whatever he wishes or start up a business with the asset sell off money he got and never really truly have to touch the $137 billion he has saved away to start up a business. This is why the rich stay rich.

                      Comment


                        #13
                        Originally posted by Kajin_Style View Post
                        This is why the rich stay rich. If a company does bad they have IT file bankruptcy while they keep whatever money and severance package they were due. If it can't recover enough from that or bounce back then they just sell off all the assets and give themselves the money.

                        Afterward he can just invest in whatever he wishes or start up a business with the asset sell off money he got and never really truly have to touch the $137 billion he has saved away to start up a business.
                        Just add on to what you're saying, doing exactly what you described is a legal business tactic. Mitt Romney made his hundreds of millions through an entity called Bain Capital. Their entire business model was to buy a company, suck all the wealth from it, and then end it by declaring the business bankrupt and selling off the assets. Basically he bought businesses and ran them into the dirt before selling the assets and putting hundreds out of work.

                        Comment


                          #14
                          Originally posted by Kajin_Style View Post

                          What line are you talking about? There is no line. They pay nothing infact the government had paid Amazon $129 million in a tax refund. Look I get there is some crazy fear that the rich would be taxed to death but they aren't even taxed properly to begin with. So how about we started there and then when people push for even more taxes on the rich, you are welcomed to cry "SOCIALISM!" all you want.

                          And second, this is something people should be taught in schools about businesses.

                          Jeff Bezo's wealth is not tied to Amazon at all. Amazon is a LLC and that means it is treated as its own entity, aka... like a person. It has its own bank accounts, its own tax return, its own property and pays people accordingly. From the years of running Amazon Jeff has amassed $137 billion dollars that he has either in shares, trading companies, other businesses, bank accounts and so on.

                          Right now he is in the middle of a divorce and his wife could theoretically get half of that. Yet her getting half his money would literally do nothing to Amazon because the money Amazon saves (if it saves any) is not tied to Jeff at all. This is why the rich stay rich. If a company does bad they have IT file bankruptcy while they keep whatever money and severance package they were due. If it can't recover enough from that or bounce back then they just sell off all the assets and give themselves the money.

                          Afterward he can just invest in whatever he wishes or start up a business with the asset sell off money he got and never really truly have to touch the $137 billion he has saved away to start up a business. This is why the rich stay rich.
                          I agree with your first paragraph. I understand why the government subsidizes the tech industry, but it's really ridiculous that a multi-billion dollar per year company is subsidized and pays a net negative tax rate.

                          Amazon
                          Google
                          Facebook
                          Intel
                          IBM (partnership with DARPA)
                          GE
                          AMD
                          the list is very long actually

                          These are just a few that come to mind which pay zero taxes, and as I said earlier, freaking Intel runs a 50% profit margin as a share fo revenue. They can afford to pay taxes. They aren't hurt at all by a fair tax rate.

                          Comment


                            #15
                            Of course, when the Government raises taxes on some wealthy corporations, they expatriate to Sweden or somewhere else. This is why I think the language of the Constitution says that congress has the power to issue patents "for a limited time". If a corporation expatriates, they should forfeit their U.S. patents, and they should be auctioned to the highest loyal bidder. It's bullshit that they basically commit treason, and yet they still keep 90% of their assets and operations in the U.S.

                            Comment


                              #16
                              Originally posted by Wade View Post
                              Of course, when the Government raises taxes on some wealthy corporations, they expatriate to Sweden or somewhere else. This is why I think the language of the Constitution says that congress has the power to issue patents "for a limited time". If a corporation expatriates, they should forfeit their U.S. patents, and they should be auctioned to the highest loyal bidder. It's bullshit that they basically commit treason, and yet they still keep 90% of their assets and operations in the U.S.
                              That loophole where they can runaway with the money needs to be fixed. Simple as that. Pass some laws that if they send money abroad to other banks it'll get taxed sharply. Keep the money in the US.

                              Comment

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