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]
Oliver Brotherhood is a British vlogger with over 3 million subscribers who has produced a string of very popular Minecraft-related videos under the name Mumbo Jumbo; yesterday, in the space of two hours, a quarter of his videos were claimed by music publishing giant and notorious copyright fraudsters Warner Chappell, who will now get revenues […]
Writing in Fortune, Beth Kowitt gives us a look inside the Googler Uprising, wherein Google staff launched a string of internal reform movements, triggered first by the company's secret participation in an AI/drone warfare project for the Pentagon, then a secret attempt to build a censored/surveilling search engine for use in China, then the revelation […]
Pangea was founded by Al Goldstein, a Deutsche Bank investment banker who quit to found a massive, intercontinental payday lending outfit; he tapped the investors that he enriched with his payday lending business to stake him $180 million and bought up thousands of low-rent buildings in Chicago's poorest neighborhoods (which are also Chicago's blackest neighborhoods).
Heads up: The clock is winding down on a free-entry contest to win not only one of the best smartphones on the market but a handy pair of earbuds. A simple sign-up is all you need to be eligible to win a 256 GB iPhone XS Max, along with AirPods. And while “free” is tough […]
Kudos to those of us who have chosen a less wasteful third option to “paper or plastic” at the supermarket or club stores. Tote bags are reusable, but they can be a pain to tote around. Here’s an upgrade to that planet-saving measure. The Club Cart Lotus Trolley Bag is that rare tote you’ll want […]
Looking for a career in IT, gaming or software development? In the ever-changing world of the internet, versatility is your biggest asset. In other words, mastering Java might not cut it in an interview if you don’t know C#. However, there’s a bundle that covers the essentials in most any language. The Legendary Learn to […]