Amazon is valued at $800 billion and almost doubled its profits between 2017 and 2018 from $5.6 billion to $11.2 billion, but the company will pay $0 in taxes, for the second year in a row. The Institute on Taxation and Economic noted that Amazon’s tax rate is a result of Trump’s tax cuts that decreased corporate tax rates from 35% to 21%, and failed to close a slew of tax loopholes that allow companies to avoid paying federal and state income taxes on almost half of their profits.
Amazon canceled its plans to expand to New York, which stood to gain 25,000 jobs and an estimated $27 billion in tax revenue over the next two decades. New York offered the company $3 billion in tax benefits to build a campus in the Long Island City neighborhood. Amazon supporters blame the New York State Senate for appointing a critic of the deal to a state board that had veto power, and the senate representative refused to even meet with the company.
Those wondering how many zeros Amazon, which is valued at nearly $800 billion, has to pay in federal taxes might be surprised to learn that its check to the IRS will read exactly $0.00.
According to a report published by the Institute on Taxation and Economic (ITEP) policy Wednesday, the e-tail/retail/tech/entertainment/everything giant won’t have to pay a cent in federal taxes for the second year in a row.
This tax-free break comes even though Amazon almost
doubled its U.S. profits from $5.6 billion to $11.2 billion between 2017
To top it off, Amazon actually reported a $129 million 2018 federal income tax rebate—making its tax rate -1%.
Amazon’s low (to non-existent) tax rate has been
chided by politicians ranging from Senator Bernie Sanders to President
Ramirez Valiente has been charged with reckless driving, as his license was revoked due to a DUI in 2018. He was also arrested for reckless endangerment in 2011 and domestic violence in 2016. A district attorney dismissed both charges.
James Corbett explains that the pro-war media objected to President Trump removing 1,000 US troops from Syria, and has been caught lying again to the American public to keep the wars going. Corbett gives numerous examples of other times that the media has been caught using propaganda and lies to manipulate the public.
In the past week, over 1,300 arrests were made involving members of the Extinction Rebellion, a climate-change-alarmist group that is critical of the West and has blocked roads and shut down a London airport. George Soros is among the high-profile donors to this group.
One of the suspects had been arrested for theft of a motor vehicle, but King County Jail ignored an ICE request for retainer, and he was released. He was arrested and released two more times before the high school boy’s murder.
Only one child has been infected by the polio virus, caused by a polio vaccine, but the government now is preparing to vaccinate more than 9 million children – with the same vaccine that infected the single case of polio that created their concern.
California adopted a controversial ‘red flag’ gun-confiscation law that expands an existing law that allows law-enforcement and family members to initiate a process to temporarily confiscate citizens’ firearms. The new law adds co-workers, employers, and teachers to the list.
Several hundred left-wing and Antifa rioters attacked supporters of President Donald Trump leaving a rally in Minneapolis, in an effort to intimidate the Trump supporters. The violent leftists surrounded the pro-Trump supporters and assaulted them in groups and attacked the police.
Last Friday, Iran’s National Oil Company reported that explosions ignited a fire on one of its tankers off the coast of Saudi Arabia. Following the news of the attack against Iran, the US announced that it will send 3,000 ground troops and two squadrons of fighter jets to Saudi Arabia to “confront” Iran.
Oak Park, IL, trustee Susan Buchanan, a medical doctor, was filmed berating her fellow trustees at a board meeting for being white. Her view was that while males should not be permitted to speak on such issues.
The UN says it is going broke because the US, which funds about 30% of the UN’s budget (about $10-billion per year) once again has stopped paying. State Department officials said the US government would pay up soon.
“Joey Crack” Francisco, was freed from a life sentence for a drug conviction under the Kushner-Koch “First Step Act” federal drug-sentencing reform only to go on to allegedly brutally stab a man to death in Rhode Island.
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Five years ago, Whole Foods announced it would require stringent mandatory labels on GMO products. In addition, animal products would require disclosure on whether animals had been raised on GMOs. This would have forced almost all food producers to label their products. Amazon acquired Whole Foods almost a year ago and they are now going back on their promise to label GMOs, waiting for the government to come up with a policy that is confusing and imprecise, and requires a SmartPhone to read.
The company is forecast to hit sales of $258.2 billion by the end of 2018, a roughly 30% increase from the previous year. Many people, including President Trump, object to Amazon’s advantages from tax loopholes, its special deal with the US Postal Service and hiring foreign workers instead of Americans to save money on labor.