Amazon doubled its profits in 2018, to $11.2 billion; the company will receive a $129 million tax rebate for the year.
Though Trump denounced Amazon's tax return, Amazon actually has Trump's tax deal, which handed massive breaks to America's richest people and corporations, to thank.
In contrast to Amazon's $129 million tax rebate, millions of Americans will not get their customary tax rebate this year, and many Americans will owe additional tax.
According to The Week, Amazon ended up paying an 11.4% federal income tax rate between 2011 and 2016, which is a contrast to the -1% rate this year.
Amazon has a history of avoiding various sales taxes and made headlines last summer after successfully convincing Seattle Mayor Jenny Durkan to repeal a tax that would have helped the city’s homeless population.
Amazon Will Pay a Whopping $0 in Federal Taxes on $11.2 Billion Profits [Laura Stampler/Fortune]
“Silence Is Not an Option”
• 4th known Tesla worker to test positive, and the 5th at its US facilities
The letter from 4 senators was addressed to Zhang Yiming, founder and CEO of TikTok owner ByteDance.
With everything happening in the last few months, we all but guarantee no one has been thinking about their taxes. That’s understandable — because, beyond all of our current concerns, nobody enjoys the whole tax filing process during even the best of times. Unfortunately, Benjamin Franklin was right — taxes truly are as inescapable as […]
Most parents know that giving their kids educational toys and other projects will expand their minds. But what many might not realize is that physical play is actually building their mental abilities as well. Studies are still in beginning stages, but some early research supports the theory that kids who get the chance to get […]
Not every house has a fireplace. And to be honest, not every homeowner wants to deal with the hassles and maintenance of a fireplace. But it’s tough to argue that the intoxicating glow and dance of a licking flame isn’t mesmerizing, not to mention all of a fire’s practical uses. For those looking to enjoy […]