Posted on 04/07/2021 7:36:44 AM PDT by SaxxonWoods
Amazon AMZN, -0.09% Chief Executive Jeff Bezos on Tuesday said the company supports an increase in the U.S. corporate tax rate, as it backs the Biden administration's focus on improving American infrastructure.
(Excerpt) Read more at marketwatch.com ...
With larger corporate taxes, the loosers are the consumers, who end up with less selection and more expensive products, as well as society as a whole. The destruction of smaller enterprises leads to lack of innovation and stagnation.
Is that’s what Democrats wants anyway?
Amazon gets big discounts from the post office that is driving up shipping costs for everyone else.
Get rid of these and see if he supports it!
There is no such thing as “going toward” when increasing taxes, for two reasons.
First, since the corporate rate is currently at or near the maximum effect in terms of actual revenue, any increase in corporate taxes is likely to cause a net DECREASE in actual dollars collected.
Second, since the government year in, year out spends TRILLIONS more than it takes in, even an increase in collected funds can only go toward a minuscule downward deflection of the skyrocketing debt curve, and thus cannot be said to be going toward anything other than debt from money that was spent years, if not decades, ago.
Amazon uses financial games to avoid paying ANY tax. Yup! Last two years the corp has paid ZERO federal income tax on the billions of $$ they make yearly.
They aren’t an anomaly. Most big corps pay zero. Unless you count the billions they pay lobbyists and funnel into Democrat PACs.
Why anyone, especially FR, is using Amazon is beyond the pale.
“Amazon for many years reinvested all its profits into expansion, with the result that it paid little or no taxes because taxes are calculated based on profits.”
Makes sense to me.
Easy for him. Amazon does not pay much Federal Tax.
And he pays his employees even less.
He is a cheap bald headed Dr. Evil.
Well of course he does - that would damage the smaller competitors to big corporations.
I remember it resulting in higher wages, bonuses, and lower utility costs in a number of places.
How long did Amazon not pay taxes?
Bezos makes his money as a middleman. The farther away the buyer is from the seller, the more they both need Amazon to bring them together. Bezos has made his fortune on disintermediating American businesses who sold directly to consumers, and intermediating for cheaper overseas manufacturers to enable them to connect with US customers.
The farther away from America the manufacturing is the better for Bezos. And higher tax rates will push it all very far away.
Over the course of my working lifetime, I’ve paid many utility bills and received many pay checks, none of which were dependent on the corporate tax rate.
The paying of taxes for everyone is a big question mark. Here is an article on corporate taxes.
https://www.taxpolicycenter.org/taxvox/corporate-taxes-are-they-fair-who-really-pays-them-and-when
And it firmly confirms the history and probable efforts of the current administration:
“Corporate taxes: Taxing richer people now, and everybody else eventually.”
And it takes years to fix it each time.
wy69
you know, there’s nothing stopping you from paying what you consider “Your fair share.”
wait, you have an ARMY of accountants to avoid as many taxes as possible...
nevermind
Not if the owner passes the tax increase to customers via higher prices, which cause inflation.
I all the years I was a business owner we raised prices only when technology changed or the government raised corporate taxes. We worked really hard to keep prices down and our customers appreciated that.
Ah, good, the third house of the legislature has spoke. To become law, a tax bill must originate in the House of Representatives, get the OK from Amazon, then pass the Senate. The conference report on the bill must then pass the House, the Senate, and when he gets around to it, Bezos representing Amazon will let the President know if he should sign it or not.
No. They just will not pay them.
People seem not to understand that there will be exemptions carved out for favored companies. Those favored will not pay the tax and so they will be able to undercut the prices of the non-favored companies.
And I expect to see this defended on FR by sheep bleating that this is just capitalism.
It isn't. It is fascism.
Corporations do not pay taxes, they collect them.
They will pass it on to the consumer.
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