Biden blasts Amazon for not paying federal taxes, promises to 'put an end to that'

[Raytrace3D]

""A fireman, a teacher paying 22% — Amazon and 90 other major corporations paying zero in federal taxes? I'm going to put an end to that," he said."

Should we insinuate that Amazon employees don't pay taxes then? No we shouldn't, because they do. Comparing an individual (specifically in a role that is politically charged to use) to an entire corporation on tax dues is never a fair comparison. Teachers, firemen, AND Amazon line workers all pay their respective taxes. Nice try there, bud.

If you're going to make comparisons, at least be accurate about it, and try not to be so obvious about your sleight of hand.

Come on man...

Not to be argumentative but as a small business myself, I am arguably more impacted by the influence of taxes (my business is far more likely to fail compared to that of a top 500 company) than a larger company. I try to write as much I can legally speaking off on my taxes and yet I still pay taxes at the end of the day. So how does a top 500 company avoid paying any tax? The tax laws are effectively setup to help bigger companies succeed over smaller ones. Does this not create an anti-competitive climate? At the very least, all businesses should face the same burden of the law.

 

[Shadowboxer]

Honestly how can anyone defend Amazon? I’m a conservative I don’t like Biden and if I lived in the USA I would not have voted for him. But he’s right to challenge corporations not paying any tax in the USA.

I live in Europe and over here countries are scared to tax corporations in fear of them upping sticks and moving to another European country (look up the Apple move to Ireland). However people surely aren’t afraid of Amazon doing the same thing in America? Amazon will lose a lot more money abandoning the USA market than it ever would to just pay some tax. If small businesses pay taxes then so should corporations, maybe even more so as their economies of scale give them huge advantages and they make billions in profit.

 

[waclark]

I am amazed that you have taken that viewpoint from reading this article. The comparison is clumsy, but it does not mention or insinuate anything about the taxes paid by the individuals working at Amazon.

Not to be argumentative but as a small business myself, I am arguably more impacted by the influence of taxes (my business is far more likely to fail compared to that of a top 500 company) than a larger company. I try to write as much I can legally speaking off on my taxes and yet I still pay taxes at the end of the day. So how does a top 500 company avoid paying any tax? The tax laws are effectively setup to help bigger companies succeed over smaller ones. Does this not create an anti-competitive climate? At the very least, all businesses should face the same burden of the law.

While I agree with your overall point, you could avoid paying taxes if you invested in R&D as Amazon does. Now your business may not be the sort that can invest in R&D but that shouldn't preclude other businesses from taking advantage of those tax credits. I would also point out that if your business is profitable, you don't pay business taxes, your customers do by virtue of the revenue you generate from them.

The problem here isn't Amazon, it's the tax code. This could all be easily fixed by throwing out the current tax structure and starting over with something far simpler to administer.

 

[Hexic]

Not to be argumentative but as a small business myself, I am arguably more impacted by the influence of taxes (my business is far more likely to fail compared to that of a top 500 company) than a larger company. I try to write as much I can legally speaking off on my taxes and yet I still pay taxes at the end of the day. So how does a top 500 company avoid paying any tax? The tax laws are effectively setup to help bigger companies succeed over smaller ones. Does this not create an anti-competitive climate? At the very least, all businesses should face the same burden of the law.

Agreed, you are significantly more at risk than any Fortune 500 company in taxes, and in general.

Playing devil's advocate - the excuse would then be that mega corps provide thousands, or tens of thousands of jobs, all of which who individually pay taxes AND stimulate the local economy, therefore these large corporations are entitled to tax breaks to compensate.

While I do agree that it does stimulate the economy by job creation, I don't see this as an excuse to not pay corporate taxes regardless. As what was stated just above this, the tax codes need some help to be rewritten... They're a bloody nightmare.

 

[waclark]

Honestly how can anyone defend Amazon? I’m a conservative I don’t like Biden and if I lived in the USA I would not have voted for him. But he’s right to challenge corporations not paying any tax in the USA.

I live in Europe and over here countries are scared to tax corporations in fear of them upping sticks and moving to another European country (look up the Apple move to Ireland). However people surely aren’t afraid of Amazon doing the same thing in America? Amazon will lose a lot more money abandoning the USA market than it ever would to just pay some tax. If small businesses pay taxes then so should corporations, maybe even more so as their economies of scale give them huge advantages and they make billions in profit.

It's not so much defending Amazon as it is pointing out that Amazon is simply following American tax law. And ironically, Mr. Biden used that very same tax law to avoid paying some $500,000 in "taxes" when he was making millions through his speaking engagements.

Opinion | How the Bidens Dodged the Payroll Tax

They used an S-corp to avoid paying more than $500,000 in levies for Medicare and ObamaCare.

www.wsj.com

 

[Shadowboxer]

It's not so much defending Amazon as it is pointing out that Amazon is simply following American tax law. And ironically, Mr. Biden used that very same tax law to avoid paying some $500,000 in "taxes" when he was making millions through his speaking engagements.

Opinion | How the Bidens Dodged the Payroll Tax

They used an S-corp to avoid paying more than $500,000 in levies for Medicare and ObamaCare.

www.wsj.com

I agree, Biden is an *******. Although if I’m honest I feel nothing but pity for that poor old man. He should be in a house in the countryside near his family and medical services to see out his final years. My grandfather had dementure in his final years, it was hugely undignifying for him towards the end as he slowly lost control of his major faculties.

However I digress, yes if he’s speaking and doing nothing he’s a hypocrite yes. But that doesn’t mean that Amazon shouldn’t pay tax! Or that it’s not good to hear a politician say it, even if it is a lie.

 

[Michiel]

Let's not forget Biden has been in government in one form or another for DECADES. If there's any issue with the tax code, he was at least partly responsible for it. As highlighted in the article, people might work for the government one day, and then for the big corporations the next. The is all just show.
The government made the rules, extended them and made them into law. Then they complain when companies like Amazon use those rules. Biden's supposedly anti-corporate stance now is pure populism and completely fake. And as someone else pointed out, he probably used the same kinds of "loopholes" to maximize his own income over the decades.

And to all the people claiming "Amazon doesn't pay taxes", read the article:
"The company's federal income tax expenses for 2019 reached over $1 billion, in addition to $2 billion in other types of federal taxes."

 

[VaRmeNsI]

Corporations don't pay tax, their customers do.

 

[McMurdeR]

No, you misread. Corporate taxes don't work like private citizen taxes. Therefore, comparing private citizen taxes (teachers, firefighters) to corporate taxes (Amazon) can't be done. Which is what happened. He's comparing an apple to a cannonball, and saying that they are the same exact thing. If I've still lost you, I'm not sure what else to spell out here.

I've stated my point numerous times now - but I'll simplify even moreso:
(1) Accuracy is important.
(2) Don't make false comparisons.
(2a) The general populace is dim-witted and will believe said false comparisons.
(3) As someone in a position of power - do better.

A corporation IS a private citizen for all intents and purposes, so the comparison is fair.

So who are you to assume the general population is dimwitted? If that's not dimwitted in itself, it's certainly blatant arrogance.

 

[theSon]

All corporations are supposed to pay tax. When they do there yearly taxes they are to pay a certain percentage of their profits. But with accounting loopholes, they make it so their taxable profit is zero, so hence they don't pay tax.

This isn't something new, this has been going on a for a long time. Amazon, Walmart, and thousands of other companies pay expenseive accountants to save them billions in paying taxes. So it's the working class and low income class that pays for our government and these corporations don't . Instead, they funnel all their profits towards there CEO's and select rich. That's how you conquer the world, my manipulating economics. BASTARDS

 

[theSon]

A corporation IS a private citizen for all intents and purposes, so the comparison is fair.

So who are you to assume the general population is dimwitted? If that's not dimwitted in itself, it's certainly blatant arrogance.

Personal taxes applies to people. Corporate taxes apply to corporations. They are different with different rules. The comparison is stupid. Yes the general public is stupid and uneducated. The tuition and lack of student loans is insane in the US, hencing keeping their citizens stupid and uneducated so they easily manipulate them.

 

[VaRmeNsI]

Personal taxes applies to people. Corporate taxes apply to corporations. They are different with different rules. The comparison is stupid. Yes the general public is stupid and uneducated. The tuition and lack of student loans is insane in the US, hencing keeping their citizens stupid and uneducated so they easily manipulate them.

Education is freely available to anyone that wants it.

 

[m3tavision]

I never once stated that Amazon shouldn't pay additional taxes - none of my comments have pertained to their "duty to pay" as a corporation.

My comments are that based of logical fallacies and poor comparisons utilized to push the agenda, not the agenda itself. As stated above, I've agreed that Amazon (corporate) does need to pay more taxes. Which is an entirely different conversation all together.

It's important to separate those two critical points, as they are entirely independent of each other.

You are the one spewing propaganda... YOU are the only one who read this article and posed such a tr0lling question...

"Should we insinuate that Amazon employees don't pay taxes then? No we shouldn't, because they do. Comparing an individual (specifically in a role that is politically charged to use) to an entire corporation on tax dues is never a fair comparison. Teachers, firemen, AND Amazon line workers all pay their respective taxes. Nice try there, bud.

If you're going to make comparisons, at least be accurate about it, and try not to be so obvious about your sleight of hand.

Come on man... "


Who in the hell is talking about Amazon employees...? ONLY YOU!


As someone said earlier: Workers are taxed for on income. Companies & corporations are taxed on their profits.

That means that whatever is classified as cost/liabilities is not taxed. Companies deliberately keep their profits low by increasing their cost and/or liabilities.

 

[Hexic]

A corporation IS a private citizen for all intents and purposes, so the comparison is fair.

It's clear here that you may need to brush up on the US tax codes, good luck with that.

 

[Hexic]

You are the one spewing propaganda... YOU are the only one who read this article and posed such a tr0lling question...

"Should we insinuate that Amazon employees don't pay taxes then? No we shouldn't, because they do. Comparing an individual (specifically in a role that is politically charged to use) to an entire corporation on tax dues is never a fair comparison. Teachers, firemen, AND Amazon line workers all pay their respective taxes. Nice try there, bud.

If you're going to make comparisons, at least be accurate about it, and try not to be so obvious about your sleight of hand.

Come on man... "


Who in the hell is talking about Amazon employees...? ONLY YOU!


As someone said earlier: Workers are taxed for on income. Companies & corporations are taxed on their profits.

That means that whatever is classified as cost/liabilities is not taxed. Companies deliberately keep their profits low by increasing their cost and/or liabilities.

It may be helpful if you carefully re-read this thread, and then draw conclusions. I think you've missed most of the key points here; because what you did mention to voice your concerns over was already addressed... twice.

 

[NightAntilli]

And another nugget: " if we tax them, they'll go elsewhere". I have news for you. Amazon (and most big companies) would go belly up without its US customer base!!

It would be a blow to them, sure. But they wouldn't die. There is a reason corporations have 'assets' that are classified as limited liability. Amazon for example, is both a corporation and LLC. And they do it for specific reasons. Amazon LLC can die, but Amazon Inc. will not.

And above that, the ones running the corporations generally have their assets in an ATP, meaning they control it but legally don't really own it.

Some stuff for some of you to read up on;

Choosing an Amazon Seller Business Type: LLC vs. Sole Proprietorship

Ready to start a business as an Amazon seller but aren't sure what Amazon seller business type you need? Explore all your options right here.

www.incfile.com

What Is an LLC? Limited Liability Company Structure and Benefits Defined

A limited liability company (LLC) limits the potential for its members to be personally liable for the LLC's business debts. It features pass-through taxation.

www.investopedia.com

What Is Asset Protection Trust (APT)? Definition and Purpose

An asset protection trust (APT) is a financial-planning vehicle for holding an individual's assets to shield them from creditors.

www.investopedia.com

 

[PEnnn]

While I'm sure amazon does what ever it can to pay the least amount of taxes (if any), it can, I would like to see Bidens Tax returns as well. The media has demanded to see Trumps tax returns which is fair, Biden and his son Hunter appears to have done quite well for them selves. Biden is filthy rich as a public servant and I don't think there is going to be any public housing built in is neighbor hood any time soon.

Unlike the Orange Guy, Biden's taxes are public. Just because you don't want to look for them, it doesn't he's hiding them.

Nice trolling.

 

[rub900]

Says the who works for Amazon.

 

[rub900]

Why is the president suddenly interested in changing tax laws that have been in place for years?
Why wasn't this addressed when he was vice president?
Why now?
Is this about making people pay their fair share or about looking good for reelection?

The tax code is what encourages companies to set up shop in specific places and somehow that encouragement is wrong even though it went through the political process to get approved.

Do you really think Amazon is going to lay off people or stop doing business in America because they will get taxed more. Bull. The false notion they need to be taxed less because they create jobs is BS. That is trickle down economics and is a lie created by the GOP to screw the workers. Bald boy Jeff is burning dog turd. No one I hate more. I don't do any business with Amazon and never will.

 

[rub900]

It's not so much defending Amazon as it is pointing out that Amazon is simply following American tax law. And ironically, Mr. Biden used that very same tax law to avoid paying some $500,000 in "taxes" when he was making millions through his speaking engagements.

Opinion | How the Bidens Dodged the Payroll Tax

They used an S-corp to avoid paying more than $500,000 in levies for Medicare and ObamaCare.

www.wsj.com

Link is the wall street journal owned by Rupert who owns Fox which is garbage. Good try Trumper.

 

[m3tavision]

Link is the wall street journal owned by Rupert who owns Fox which is garbage. Good try Trumper.

Easy to spot someone who suffers from TDS. It is a real thing.... and you need to stop blaming him for invading your safe space with truths. You can not hide behind your safety bubble and keep watching CNN, etc..

So when has the Wall Street Journal redacted 200+ news stories like CNN, ABC, MSNBC have had to..!

You are afraid of the truth.

 

[Rudyduu]

I'm all for it. Tax the hell out of all these liberal run companies. The irony that these CEO's get up and try to be champions for the people while simultaneously setting their companies up to avoid income taxes. With so many of these elitist running these companies, I've decided to support a 25% net worth tax on all individuals worth more than $500 million. Take it all from them. Then let's see if they will be so elitist then. I'm tired of those elitist who used the system to get filthy rich complaining, AFTER they've obtained their wealth, that people need to pay more taxes. Where were they when they were starting from scratch and building their wealth....

This shouldn't be about companies trying to avoid taxes it should be about tax laws that make it legal. Amazon is just playing by the rules set up by policy makers in the US. Amazon has enough money to directly affect policy while normal people do not have the money to affect policy. This is simply a political statement to gain support of voters, I doubt anything will actually come of it and I suspect it will be business as usual for Amazon in the future.

 

[Squid Surprise]

Easy to spot someone who suffers from TDS. It is a real thing.... and you need to stop blaming him for invading your safe space with truths. You can not hide behind your safety bubble and keep watching CNN, etc..

So when has the Wall Street Journal redacted 200+ news stories like CNN, ABC, MSNBC have had to..!

You are afraid of the truth.

Perhaps they don’t redact because they don’t care about the truth?
You do understand what redact means, right?

 

[m3tavision]

Perhaps they don’t redact because they don’t care about the truth?
You do understand what redact means, right?

Correct, he was calling into question the Wall Street Journal's integrity, because it was owned by Rupert Murdock...

And I asked him how much credibility does CNN, ABC, MSNBC have, if they keep redacting news stories, because they were found to be wrong, or untruthful. While the Wall Street Journal has not redacted any stories.... and has shown to be more trust and news worthy...!

 

[Squid Surprise]

Correct, he was calling into question the Wall Street Journal's integrity, because it was owned by Rupert Murdock...

And I asked him how much credibility does CNN, ABC, MSNBC have, if they keep redacting news stories, because they were found to be wrong, or untruthful. While the Wall Street Journal has not redacted any stories.... and has shown to be more trust and news worthy...!

Let me clarify... the meaning of "redact" - from dictionary.com
to put into suitable literary form; revise; edit
to draw up or frame (a statement, proclamation, etc.).
to edit (text) so as to remove or hide confidential or sensitive information

So... to redact a story means you've realized that some part of it was incorrect (or sensitive/confidential) and therefore, the news company redacts it.

For a company NOT to redact any of their stories - especially ones that have been fact checked as being propoganda or outright lies - shows that THEY are the company that has no interest in the truth.

"Everyone makes mistakes, it's how you handle them that defines you."

As for the Wall Street Journal... they are mostly accurate - but they do tend to lean right-center... and are fairly obviously pro-Trump...

Wall Street Journal - Bias and Credibility

RIGHT-CENTER BIAS These media sources are slight to moderately conservative in bias. They often publish factual information that utilizes loaded words

mediabiasfactcheck.com