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Amazon To Pay No Federal Taxes in 2019


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http://fortune.com/2019/02/14/amazon-doesnt-pay-federal-taxes-2019/

 

I know many of you would rather focus with bloodthirsty zeal on hoards of so-called rapists coming over the border to find white women, but I thought I'd post an actual, real problem that the demagogues don't want us to focus on.  What do we think about it?  Amazon's tax strategies most surely are fully legal - and is that a problem?  I'm surprised (I guess, actually I'm not surprised) that the "drain the swamp" crowd isn't more focused on this kind of issue.  I'm not sure where I fall on it - I cannot stand progressive politics that chase businesses out of communities that need them (see, e.g.., Amazon in Long Island City and Buffalo from 1980-2015), but it also seems galling that tax laws (and loopholes) allow the biggest earners (corporate and individual) to shirk the obligations the rest of us face.

 

Thoughts? 

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Can we see Amazon’s tax returns? 

I wonder what write offs they’re taking. The depreciation on their warehouses must be considerable. How is their A Prime revenue accounted for? 

I’m going to get a copy of their AR and have a look-see. 

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10 minutes ago, Nanker said:

Can we see Amazon’s tax returns? 

I wonder what write offs they’re taking. The depreciation on their warehouses must be considerable. How is their A Prime revenue accounted for? 

I’m going to get a copy of their AR and have a look-see. 

 

They also had like a decade plus of unprofitability (despite huge revenue), so they may have engaged in a strategy designed to carry the losses forward?  Curious to hear what you find.

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11 minutes ago, Coach Tuesday said:

 

How about you answer the question Ryan?  I know it’s not a Tyrod thread but still...

 

 

 

Hey, remember when you promised to read the FISC opinion memo months and months ago so you could learn what the Trump/Russia story was all about? That was neat. Did you ever read it? Or were you too busy worried about the Russians stealing the election?

 

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Gee, I wonder if chicken ***** @Coach Tuesday will return to argue his points after the usual drive-by's.

 

Such as detailing the exact portions of the tax code that Amazon is apparently skirting.

 

I'll wait.  Or better yet, we can set a new rule on PPP.  If a poster starts more than two drive-by threads, they're be banned from this forum, since we're not allowed to ridicule them on the main site.

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2 hours ago, Coach Tuesday said:

 

They also had like a decade plus of unprofitability (despite huge revenue), so they may have engaged in a strategy designed to carry the losses forward?  Curious to hear what you find.

 

I'm sure this is part of it, and frankly consider it legitimate.  I don't know if is all of it.  How much did Amazon add to sales tax coffers I wonder.  Credits for past losses will someday run out and it sure looks like Amazon will be making a lot of money moving forward so patience will net a good sum.

 

Now back to bloodthirsty zeal.....

 

 

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Amazon is a publicly traded company.

Its financial statements are a matter of public record, and are available.

 

By the way, Amazon has never been an income company, at least to date.

It has always been about accumulating market share over profit, so tax payments are what they are.

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3 hours ago, Coach Tuesday said:

http://fortune.com/2019/02/14/amazon-doesnt-pay-federal-taxes-2019/

 

I know many of you would rather focus with bloodthirsty zeal on hoards of so-called rapists coming over the border to find white women, but I thought I'd post an actual, real problem that the demagogues don't want us to focus on.  What do we think about it?  Amazon's tax strategies most surely are fully legal - and is that a problem?  I'm surprised (I guess, actually I'm not surprised) that the "drain the swamp" crowd isn't more focused on this kind of issue.  I'm not sure where I fall on it - I cannot stand progressive politics that chase businesses out of communities that need them (see, e.g.., Amazon in Long Island City and Buffalo from 1980-2015), but it also seems galling that tax laws (and loopholes) allow the biggest earners (corporate and individual) to shirk the obligations the rest of us face.

 

Thoughts? 

 

I think you’re a jackass. 

Edited by The_Dude
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8 minutes ago, GG said:

Or better yet, we can set a new rule on PPP.  If a poster starts more than two drive-by threads, they're be banned from this forum, since we're not allowed to ridicule them on the main site.

 

I like this idea a lot. You have to wonder how much @Coach Tuesday would whine if people jumped into the football side of the board and started a thread like "Kaepernick Sucks At Football And Only Took A Knee Because He Knew He Was Getting Canned!" with a link to Kaep's stats...and then disappear for the rest of the thread.

 

Surely he would see the value in that kind of idiocy. 

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3 hours ago, Coach Tuesday said:

 

They also had like a decade plus of unprofitability (despite huge revenue), so they may have engaged in a strategy designed to carry the losses forward?  Curious to hear what you find.

 

Tax loss carryovers requires about as much strategy as running a QB sneak on 4th and inches.  By the way, individuals can do that too.

 

Every year or so we need the media to stir up the idiots about some tax story they don’t understand.  Remember all the outrage from idiots because Goodell made $30m at a ‘non-profit’?

 

 

3 minutes ago, unbillievable said:

The memo has been sent to the MSM: Amazon is now public enemy #1 for embarrassing Democrats.

 

Exactly 

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5 minutes ago, 4merper4mer said:

 

I'm sure this is part of it, and frankly consider it legitimate.  I don't know if is all of it.  How much did Amazon add to sales tax coffers I wonder.  Credits for past losses will someday run out and it sure looks like Amazon will be making a lot of money moving forward so patience will net a good sum.

 

Now back to bloodthirsty zeal.....

 

 

 

Yeah, those pesky US tax laws that allow companies to carry forward accumulated net losses for up to ten years, including the R&D tax credit signed into law by the Golden Child..

 

Here's some back of the envelope data on real taxes paid - In total,  Amazon paid over $1 billion in income taxes sales tax in 2018.   It has an estimated 350,000 us employees for which is paid over $750 million in payroll taxes.  It's roughly $125 billion in US sales generate over $3 billion in local sales taxes.  It's 3rd party merchants generate about $140 billion in annual sales which probably delivers another $5 billion in annual taxes.  And those are just income and payroll taxes.

 

But, yeah, Amazon is a net taker.

 

F'ng morons.

 

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4 hours ago, Coach Tuesday said:

http://fortune.com/2019/02/14/amazon-doesnt-pay-federal-taxes-2019/

 

I know many of you would rather focus with bloodthirsty zeal on hoards of so-called rapists coming over the border to find white women, but I thought I'd post an actual, real problem that the demagogues don't want us to focus on.  What do we think about it?  Amazon's tax strategies most surely are fully legal - and is that a problem?  I'm surprised (I guess, actually I'm not surprised) that the "drain the swamp" crowd isn't more focused on this kind of issue.  I'm not sure where I fall on it - I cannot stand progressive politics that chase businesses out of communities that need them (see, e.g.., Amazon in Long Island City and Buffalo from 1980-2015), but it also seems galling that tax laws (and loopholes) allow the biggest earners (corporate and individual) to shirk the obligations the rest of us face.

 

Thoughts? 

 

It's a fair question as to what specifically are the offsets (deductions) that reduce their obligation.  Another fair question would by why any media reporting on this wouldn't do a bit of research first and also report the answer to the obvious question rather than simply parroting a critical Bernie Sanders statement.  Says a lot about Bernie, the media and many others that have weighed in with lazy and biased reporting and rhetoric. 

Edited by keepthefaith
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44 minutes ago, The_Dude said:

 

I am FINE with the Democrats making one of the largest, most powerful companies hate them. 

Not for nothing, but a lot of Republicans are a bit put-off by this as well. 

Amazon's done nothing "wrong" or illegal though.

 

20 minutes ago, keepthefaith said:

 

It's a fair question as to what specifically are the offsets (deductions) that reduce their obligation.  Another fair question would by why any media reporting on this wouldn't do a bit of research first and also report the answer to the obvious question rather than simply parroting a critical Bernie Sanders statement.  Says a lot about Bernie, the media and many others that have weighed in with lazy and biased reporting and rhetoric. 

 

The Federal tax brackets were lowered on corporations - ALL corporations. 

Amazon is especially crafty WRT income taxes. They didn't collect any state sales taxes until (IIRC) 2017.

There's the repatriation of offshore gains that factor in as a one time non-recurring issue.

They've spent billions in building and supplying massive warehouses all over the country - and world, and those assets can be depreciated. 

 

One really LARGE kicker though is the bonuses given out to management. Those are all write-offs and total in the billions (IIRC). That's where a lot of their profits got stashed. Though, to be fair the bonus payees have to pay taxes on those monies/stocks (at least eventually). 

Uncle Sam always gets his money. That's why you have to take RMDs from your qualified plans in the year you turn 70 1/2. 

It's why you can't buy an insurance policy with qualified money - that would evade taxation on the principle. 

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Government tax policy can be driven by incentives to key industries that are deemed worthy of deals

 

for the purposes of job creation, industries that are too big to fail, the arts and cultures, education and others

 

 

 

 

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1 hour ago, BigMcD said:

Sure, right after I read Trumps. 

 

Too ***** stupid to even understand what public companies are required to report and where to find it.

 

Thanks for being such a great example of the level of intelligence of the average moron who knows nothing beyond what they are told by cable news and clickbait web blogs.

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5 hours ago, Coach Tuesday said:

http://fortune.com/2019/02/14/amazon-doesnt-pay-federal-taxes-2019/

 

I know many of you would rather focus with bloodthirsty zeal on hoards of so-called rapists coming over the border to find white women, but I thought I'd post an actual, real problem that the demagogues don't want us to focus on.  What do we think about it?  

 

Thoughts? 

 

 

My thought is, that anyone who starts a thread with these lines does not deserve a straight answer

 

 

 

 

 

 

 

 

.

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1 hour ago, GG said:

 

Yeah, those pesky US tax laws that allow companies to carry forward accumulated net losses for up to ten years, including the R&D tax credit signed into law by the Golden Child..

 

Here's some back of the envelope data on real taxes paid - In total,  Amazon paid over $1 billion in income taxes sales tax in 2018.   It has an estimated 350,000 us employees for which is paid over $750 million in payroll taxes.  It's roughly $125 billion in US sales generate over $3 billion in local sales taxes.  It's 3rd party merchants generate about $140 billion in annual sales which probably delivers another $5 billion in annual taxes.  And those are just income and payroll taxes.

 

But, yeah, Amazon is a net taker.

 

F'ng morons.

 

Kamala Harris didn’t tell @Coach Tuesday about this, so he had no idea. Go easy on him.

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9 minutes ago, KD in CA said:

 

Too ***** stupid to even understand what public companies are required to report and where to find it.

 

Thanks for being such a great example of the level of intelligence of the average moron who knows nothing beyond what they are told by cable news and clickbait web blogs.

You’re right, I should just listen to you Trumptards for my info. No fake news there! 

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6 minutes ago, BigMcD said:

You’re right, I should just listen to you Trumptards for my info. No fake news there! 

 

Do you realize the ridiculousness of this post?

 

It has been made apparent to you:

-> in this thread:

->more than once: 

->in case you didn't already know,

that the financial disclosures of publicly traded companies are a matter of public record.

Easily obtainable.

You then suggest that someone has suggested that you should get your information from a group you don't like?

 

Do you need to be hit over the head with a bat?

 

Tax law is codified and easily obtainable.

Financial statements of publicly traded companies are easily obtained.

The "mystery" is in the ignorance of those who refuse to obtain the information.

 

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I am outraged! I am furious! They have awakened a sleeping giant and I will stop using Amazon services, and I'll organize others to stop using Amazon services, and they we'll get @Coach Tuesday to get us Occupy Amazon posters, and we'll march, and we'll yell and we'll...

 

2 hours ago, GG said:

Here's some back of the envelope data on real taxes paid - In total,  Amazon paid over $1 billion in income taxes sales tax in 2018.   It has an estimated 350,000 us employees for which is paid over $750 million in payroll taxes.  It's roughly $125 billion in US sales generate over $3 billion in local sales taxes.  It's 3rd party merchants generate about $140 billion in annual sales which probably delivers another $5 billion in annual taxes.  And those are just income and payroll taxes.

 

Wait. What?

 

Oh, okay everyone. False alarm caused by our inability to understand something other than a headline. Rabble, rabble, rabble!

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56 minutes ago, sherpa said:

 

Do you realize the ridiculousness of this post?

 

It has been made apparent to you:

-> in this thread:

->more than once: 

->in case you didn't already know,

that the financial disclosures of publicly traded companies are a matter of public record.

Easily obtainable.

You then suggest that someone has suggested that you should get your information from a group you don't like?

 

Do you need to be hit over the head with a bat?

 

Tax law is codified and easily obtainable.

Financial statements of publicly traded companies are easily obtained.

The "mystery" is in the ignorance of those who refuse to obtain the information.

 

:lol: I don't care about Amazon......I was commenting on a bunch of d-bags attacking someone for asking a question, without answering the question. So, ***** off asshat! How bout dat!  

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54 minutes ago, LABillzFan said:

I am outraged! I am furious! They have awakened a sleeping giant and I will stop using Amazon services, and I'll organize others to stop using Amazon services, and they we'll get @Coach Tuesday to get us Occupy Amazon posters, and we'll march, and we'll yell and we'll...

 

 

Wait. What?

 

Oh, okay everyone. False alarm caused by our inability to understand something other than a headline. Rabble, rabble, rabble!

 

How dare you rabble, like some sort of rabble-rouser!

Edited by Koko78
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2 hours ago, BigMcD said:

You’re right, I should just listen to you Trumptards for my info. No fake news there! 

 

Love the brilliance here....can’t even fathom the concept of learning or understanding something on his own.

 

Troll on, ######.

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1 hour ago, BigMcD said:

:lol: I don't care about Amazon......I was commenting on a bunch of d-bags attacking someone for asking a question, without answering the question. So, ***** off asshat! How bout dat!  

Awwww, did your Comfort Moose run away or something? The OP is a known idiot who started a topic by insulting board members and asking us to provide him with information that was freely available online.

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1 hour ago, BigMcD said:

:lol: I don't care about Amazon......I was commenting on a bunch of d-bags attacking someone for asking a question, without answering the question. So, ***** off asshat! How bout dat!  

 

Are you for real?

Do you think someone wouldn't have checked?

 

You quoted and were commenting on a post by KD in CA that clearly stated "public companies are required to report and where to find it."

You were "commenting" on that.

 

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