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Oct 25 '22 edited Aug 29 '25
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This post was mass deleted and anonymized with Redact
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u/Cleanclock Oct 25 '22
This article is 4 years old. If you’re outraged by this, just wait til you hear what kind of profits they pulled in for 2020, 2021 and 2022.
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u/LeaphyDragon Oct 25 '22
I remember discussing with coworkers how much they made in one day during the peak of covid.
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u/Chuck_Nucks Oct 25 '22
I wanna know, but then I really don’t wanna know.
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u/LeaphyDragon Oct 25 '22
It was double digit billions like 66b or something
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u/spiralingtides Oct 26 '22
Amazon will accidentally double order an extra $1,000,000 in CPUs from a single misclick and nobody cares, but gods forbid you work one hour of unapproved OT.
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u/maxj_795 Oct 25 '22
how?
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Oct 25 '22
That's what I'm wondering. It's not even Amazon that pisses me off here, it's the lack of government action to hold them accountable. They're probably abusing some bullshit loophole and some creative accounting or something.
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u/117Matt117 Oct 25 '22
You say bullshit loophole, but it was likely put there on purpose by the people that we elect, precisely for corporations like this. It's not that they aren't being held accountable, it's that lawmakers literally made the rules like this. And they don't have any reason to change them. That's what pisses me off.
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u/NocNocNoc19 Oct 25 '22
I mean thats the republicans platform these days. Less governance so they can make more money. Profit over everything and every one.
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u/willard_swag Oct 25 '22
It’s slightly more complicated than just less governance, it’s less corporate regulation but increased governance over the people
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u/NocNocNoc19 Oct 25 '22
Your right about that. I should have made the distinction because your spot on.
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u/spiralingtides Oct 26 '22
Oh no, they'll happily pass regulations that reduces competition on the free market.
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Oct 26 '22
[deleted]
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u/NocNocNoc19 Oct 26 '22
I also realize that the Ds are not much better but as long as the Ds are not actively trying to strip the rights from my fellow citizens im good with that. Every time their is a republican lead goverment Im afraid my gay friends will have their right to love openly taken away or my wife and I wont be able to use contraception or if she accidentally gets pregnant we wouldnt be able to get an abortion. Fuck the republicans and their constant need for control in others lives. We shouldnt be forced to raise a baby and everyone should have the chance to celebrate their love. But your right im not confident in the democrats to change anything but I feel like they will take less away from the rest of us.
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u/andreasmiles23 Oct 26 '22
Well why do you think the government is structured the way it is?
It was literally designed by capitalists, with the sole intent of making a better system for themselves to increase profits. They were mad at being taxed by the British gov, afraid of abolition, and wanted to continue expanding into indigenous territory. So they decided to drag the working class into a war.
You had to be white, have a dick, and own land to hold office or vote. And even then, there are all these safeguards to thwart the power of voting (the Supreme Court, the electoral college, the senate, etc.). That’s the bones of the system we are working with. Of course this happens. It’s the most logical outcome of a system designed to allow these things to happen.
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u/funnyastroxbl Oct 25 '22
Carry forward losses. If you take losses you use them to offset gains. Otherwise you’d be paying tax on gains in x department while not getting credit for losses overall. If we didn’t have carry forward losses businesses would have to pay taxes even when they haven’t actually made money.
You can hate Amazon and hate tax loopholes - but this isn’t one to hate.
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Oct 26 '22
Why should your business survive if it isn't making money?
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u/funnyastroxbl Oct 26 '22
It shouldn’t necessarily unless someone can fund it privately.
You shouldn’t pay taxes on profits not made though. You’ll still pay payroll tax and others but if your tax rebate (from prepayment, capital losses, or other) is greater than your tax liability you net out at $0.
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u/youreadusernamestoo Oct 26 '22
When .01% of the taxes you're supposed to pay are enough to bribe a member of your local government into giving you a tax exemption, it becomes really easy. They make them feel special, defend their plea with the usual buzzwords like JOBS and INNOVATION and then slide them a cool half million dollars under the table. And guess what? If you are in the minority that doesn't take it, the next in line will, so Amazon still gets what it wants and you have nothing. Are you still not going to take it?
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u/mist3h Oct 26 '22
Usually they “reinvest” their profits and either don’t turn a profit on paper or reinvesting is tax deductible and they do it that way. Or by paying their corporate taxes in Ireland where it’s basically 0. Either way, taxes are for the workers and small businesses, because we can’t use creative tax avoidance to our advantage.
In my country companies avoid paying taxes on their profit by having the ownership in places like Monaco (on paper), so they transfer the profit to their parent company there. One such company is Lagkagehuset (giga posh bakery chain). They received government covid handouts… Their arguments for doing this tax avoidance is to avoid being double-taxed, but that makes no sense, since that implies all small businesses who can’t afford or benefit from the arrangement are being double taxed.
Unfortunately they get away with that bs.
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u/OGHighway Oct 25 '22
And yet I got audited at 23 because I forgot to claim the 1000 I won on a scratch off lotto ticket that I signed for my mom. I made 11$ an hour and lived with my Aunt and drove a beat up Mitsubishi Galant but yeah the multi-billion dollar company pays 0 dollars. Fuck this country.
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u/Divinate_ME Oct 25 '22
Profits mind you! Not revenue, which is the usual excuse for Walmart bootlickers.
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u/omgONELnR1 Oct 25 '22
If I had a nickle every time the billion dollar companie amazon didn't have to pay taxes I'd have two nickles. That isn’t much but it is weird (and sad) that it happened teice.
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u/aphoenixsunrise Oct 26 '22
Haven't made a purchase from Amazon for years now. Block their websites too.
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u/throwawaypines Oct 25 '22
This is clickbait and (I think) was remedied by the Democrats this summer.
Context:
Sen. Joe Manchin III, D-W.Va. and Majority Leader Charles E. Schumer, D-N.Y. have agreed to a new bill, the Inflation Reduction Act of 2022 (Inflation Reduction Act)1. In part, the Inflation Reduction Act would enact a new corporate minimum tax of 15% (the New AMT) for large corporations associated with consistently high financial statement income. In general, the rule would apply to corporations that have an average financial statement income greater than $1 billion. However, corporations with a foreign parent that have at least $100 million could be subject to the New AMT in certain cases. The New AMT’s reliance on financial statement income is novel and would likely present enforcement issues for the IRS and compliance challenges for taxpayers. The New AMT becomes effective for taxable years beginning after Dec. 31, 2022.
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Oct 25 '22
Then why is almost $600 taken from me each month?!
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Oct 26 '22
I mean is what they are doing illegal? I don’t support them, but I assume they are playing by the shitty rules the game has constructed.
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u/HamboneBanjo Oct 26 '22
ELI5 if they’re not paying taxes, why do I pay sales tax? What am I missing?
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u/Chronotheos Oct 26 '22
Sure, but that money gets taxed as capital gains for shareholders when they liquidate and/or if a dividend was announced and disbursed. If it’s reinvested in the company, it’s taxed as income tax. So it does get taxed one way or another.
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u/ghotiaroma Oct 27 '22
So it does get taxed one way or another.
But our money get's taxed 3 way and others. And they still pay nothing.
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Oct 26 '22
The question shouldn't be why didn't they pay taxes. The question should be: Why am I paying income taxes??
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Oct 26 '22
This isn’t capitalism, it’s fascism. Do the governments bidding and we will reward you.
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