Of course Bezos and others big corporations aren't worried about higher corporate taxes. They won't pay them, they will just pass them along to consumers through higher pricing. Just another hidden tax that consumer will pay while corporations take the credit.
Paywall at site, I got this much, which may be the complete using Outline.com.
Complete title: Bezos says Amazon backs increase in corporate tax rate
“...supports an increase in the U.S. corporate tax rate..”
Chrome dome aleady has Amazon’s loophole written into the bill so why should he care?
That is because Amazon is not paying the tax. The customers are.
> They won’t pay them, they will just pass them along to consumers through higher pricing <
Amazon paid no federal taxes at all in In 2018 and 2019. And they only payed 1.2 % of their income as tax in 2020. So why should Bezos care how high the tax rate is? It would hardly affect him at all.
Now, the small business owner - that poor slob will be paying out the nose.
Question for Republicans who think is traditional economic terms;
if an increase in the corporate tax rate = higher consumer prices, does a Trump-like decrease in corporate taxes = lower consumer prices?
Sorry for the rhetorical question but I'm done caring about corporate tax rates.
Backs infrastructure?
In which multiverse?
Glad Bezos is a mere leftwing businesscritter rather someone who actually thinks and makes things.
Bezos isn’t going to lose his job either. Sure, they’re all for it, if it kills off the competition. Here’s fascism.
It’s a calculated and cynical endorsement to avoid harassment and intimidation from the Biden misgovernment. Jeff Bezos is groveling to a corrupt administration in hopes of avoiding scrutiny for any number of it’s business and labor practices.
Amazon isn’t paying any Corp taxes NOW-—Why would care of OTHER companies must do so???
Amazon if free to pay extra taxes.
The reason Amazon can say this crap is because Bezos has an army of CPA’s and an equal number of lobbyists kissing democrat butt for ‘privilege and benefits’... Bezos isn’t gonna pay anything - and he knows it.
Amazon can pay a higher tax rate now if it wants too.
Corporations can react to higher taxes by raising prices, moving overseas, or reducing costs (e.g. by layoffs). Perversely, increasing executive perks and compensation packages could reduce net profits, and lower tax burdens. So how does this tax increase sock it to the rich?
If we are going this route, I would suggest a progressive corporate tax, baselining at 2% of *gross* profits for companies with a market value under $100 billion, say, and ramping up to 80% of gross profits for those with a market value over $1 trillion. That would fill the government’s coffers and frustrate monopolies at the same time. I’m sure Jeff would be all-in with that sort of tax equity scheme.
It has been documented by the studies of Socialist Sweden. Large, established corporations benefit from bigger corporate taxes. They usually avoid them, an even when they pay some of them, it benefits them in the bottom line. They benefit because the smaller corporations and private business’s cannot avoid them so easily. The large corporate taxes are “destroy competition”, “preserve big business” type of taxes. With no competition, they can then pass the taxes to consumers even with the monopoly surcharges, they can charge, because they can.
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.
Well of course he does - that would damage the smaller competitors to big corporations.
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.
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