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]
Marijuana businesses pay for 66% of state’s sponsored highway miles under Clean Colorado program
An estimated 550 people who worked at Wayfair lost their jobs last Thursday, in what has been dubbed Wayfair’s ‘Valentine’s Day Massacre.’ The layoffs included 350 workers at the online shopping firm’s Boston headquarters.
“Russia has sent intelligence agents to Ireland to map the precise location of the fibre-optic, ocean-bed cables that connect Europe to America,” Ireland’s security agency suspects, according to this report in The Times of London. “This has raised concerns that Russian agents are checking the cables for weak points, with a view to tapping or […]
Presidents’ Day and VPNs may not be a natural fit at first glance. But think about it for a minute. George Washington and Abraham Lincoln were both American presidents whose legacies are forever tied with liberty and freedom. And what is a VPN service if not absolute web liberty and freedom for all your digital […]
You hear the stories all the time. You know the ones about how a new vehicle instantly loses hundreds, even thousands of dollars in value the second a new owner drives it off the lot. Depreciation is a killer, especially when the item itself works just as well — or maybe even better than all […]
Spring cleaning time is right around the corner, and, if we’re being honest, the whole thing is kind of a drag. But keeping your home clean in any season is necessary for both health and happiness, so why not make it a little less daunting? The correct tools help make any work easier, and that’s […]