Business
Amazon to Joe Biden: We pay all our taxes
"I have nothing against Amazon, but no company that goes into billions of profits, should pay a lower tax rate than firefighters and teachers. We must reward work, not just wealth," explained the former vice president a story from the New York Times from April on how Amazon got a tax on their corporate taxes in 2018.
In the evening, Amazon replied:
"We paid $ 2.6B in corporate tax since 2016. We pay each We have $ 200B in investments since 2011 and 300K US Jobs Suppose VP Bids complaint is without tax code, not Amazon. "
According to the left-leaning institution of taxation and economic policy, Amazon received a $ 1[ads1]29 million repayment of its $ 11.2 billion in profit in 2018 due to various tax credits. By taking out state taxes, most recently the company paid federal taxes, was in 2016, according to the Group's analysis of regulatory applications.
Amazon is by no means alone in its lack of federal tax liability. Companies ranging from Delta Airlines to Duke Energy also received discounts in 2018 – a list that grew longer due to the 2017 tax haul, which reduced the corporate tax rate from 35% to 21%. The corporate tax debate was broken on the public scene in 2013, when lawmakers drew Apple up for a hearing to testify to the network of tax havens. As in Amazon, Apple claimed that Congress sets the rules, and it only finds the way to pay the smallest taxes within the framework.
But Amazon has also performed unusual public battles to lower the taxes it owes, such as a new tax on large employers that Seattle passed last year, just to lift it after an aggressive opposition campaign by Amazon and other employers. The company also delivered cities and states to each other for tax evasion in the search for a second headquarters, and avoided paying state sales tax for many years to the growing network of physical stores, asking it to make a mention and gather them everywhere.
Biden has not been so pronounced in his criticism of companies like other democratic challengers, including Sens. Elizabeth Warren and Bernie Sanders, however, have been forced to move to the left on many issues to follow a changing choice.
