“Amazon paid no federal taxes on $11.2 billion in profits last year”
This headline appeared in the Washington Post today. Following are excerpts from the article.
“Amazon, the e-commerce giant helmed by the world’s richest man, paid no federal taxes on profit of $11.2 billion last year. . . “
“Amazon actually received a federal tax rebate of $129 million last year, giving it an effective federal tax rate of roughly -1 percent.”
” Like many other large companies, Amazon reduces its effective tax rate each year using a variety of credits, rebates, and loopholes. “
“. . . most of the tax breaks used by profitable businesses to reduce or eliminate their tax burdens were instituted at the behest of deep-pocketed and well-connected corporate lobbyists.”
“’Companies haven’t been shy about pouring millions of dollars to prop up a system that benefits them.’”
“Research has shown, for instance, that congressional offices give serious consideration to input from business groups in crafting legislation. Surveys have shown that many staffers acknowledge changing their minds on issues after speaking with lobbying groups, and that they view correspondence from businesses as more representative of constituent opinion than letters from regular citizens.” [?!?!?!]
*I should add, of course, that Jeff Bezos owns the Washington Post. So it does say something for . . .irony (?) that the reporter was allowed to write the above excerpts. Or, maybe, it just says that when you have so much money that nothing can touch you, neither lies nor the truth matters to you one way or the other.