Amazon giant..pays no tax in 2018

Wizardry

I hope people can watch this and follow it closely,there is a lot of information in there much is likely obvious to many but there is  some that isn't so obvious.
This also leads to how a guy like trump can get elected because he signed the new tax breaks legislature.
The problem with this is a guy like Trump can talk about the greater good he is doing for the businesses but he is robbing the people of tax money.

The entire system is actually one that allows bigger businesses to get bigger because well you have to watch the video to understand it all.Trump has given Amazon the tools to become even bigger,get paid for being bigger and stifle all of its competition.

There is even a bigger picture if you look closely.Reinvesting in your own business can often take form in ways to CUT labor,deploy computers and machines,automate everything.Now i read somewhere that Amazon this year hired 170+k new employees but a simple number doesn't always mean what it looks like.You see Amazon wants to continue to reinvest in itself and avoid taxes and they make very good use of those employees via stock and value and imo should be illegal.

The way i see it,it is like if they paid their fair share of taxes,i think 1 billion was quoted at some point,we would have 1 billion more in the tax coffers.Only Trump would turn around and hand it right back to Amazon and say here is a little investment cash to spend on your business.All the businesses love him because he is helping bug business get richer while forcing the little guy to fit the bill.

https://www.youtube.com/watch?v=qNg55JDMDHM

Cuddleheart

I don't really know all the logistics of Amazon, but making people pay a large percentage on money they make with their own labor versus a much smaller tax rate if it's money making more money seems counter-intuitive.

Cleffy

The 2017 tax reforms didn't do what Democratic Politicians claim it does. It's just a talking point that was repeated enough.
First it lowers the tax rate on businesses since the US had one of the largest corporate income taxes in the world leading to alot of American companies leaving for greener shores. It was a needed cut in my opinion to keep the US competitive. If a company like Amazon makes no money technically, it doesn't matter the tax rate or deductions. They continously reinvest which keeps the economy moving.
Second the individual taxes were changed to benefit more from the standard deduction than tax loopholes. The ones who ended up paying more were people over 100k a year who made alot of itemized deductions.
The net result was no change in federal revenue from the individual taxes and a $90 billion reduction of taxes collected from corporations.
I don't think people understand that the federal government earns more revenue when the economy is more active. 

Cuddleheart

I dunno who's making money, but I certainly lost a grip of dough from losing my real estate deductions...

Cleffy said:

The net result was no change in federal revenue from the individual taxes

edsaqwer

Not only did Amazon pay no federal income tax back in 2018, but it also received a 130 dollar million tax rebate from the federal government. Nothing shocks me anymore, and I really hope America will do something with this corporate income tax problem. Otherwise, it will continue to be a mess. By the way, regarding taxes, does anyone here know how to get a pay stub online? I've done some research, but I just got more confused. If anyone has any tips or recommendations and could share them with me, I would very much appreciate it.

kirstenw23

Clearly, this is an exaggeration. Essentially, they are implying that Amazon did not pay any federal corporate income tax. They nonetheless paid all of their employees' payroll taxes, as well as sales taxes in the states where they operate, state franchise taxes, and property taxes. The Net Operating Loss, or NOL, is a term used in federal taxation. Even if you don't make money, you have to submit your taxes every year as a business. You get a NOL if you lose money that year. Those NOLs can be carried forward until you are able to generate a profit.