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
Former NBC News reporter Mary Emily O’Hara says she “had exclusive interviews with medics who said state police forced them to stop working on [Heather Heyer] after the crash” — and they believed that they could have saver otherwise. Her news story was “canceled” by her employer.
Water fluoridation is supplied to about 66% of US residents, 38% of Canadian residents, and 3% of European residents. The researchers found that for every 1 mg/L average increase in fluoride intake by a mother, there was a 3.7-point drop in the child’s IQ.
Epstein signed a new will, with assets valued at $577 million, just two days before his alleged suicide. He appointed two of his long-term attorneys, Darren Indyke and Richard Kahn, as executors. Epstein’s assets were reportedly placed in a trust, which may make it difficult for his victims to collect damages.
For example, in Chicago, police terminated stop-and-frisk encounters in late 2015, and murders increased by 58% by the end of 2016. An astounding 239 additional murders were attributed to the police withdrawal.
Markopolos’ report indicates that GE is locked into $38-billion in future expenses that it has not disclosed, which is over 40% of the company’s market capitalization. The company says the report itself is fraud because it was designed to plunge the price of GE stock so insiders could buy cheap and sell high later.
Marianne Williamson says it is “unacceptable” for the Trump administration to consider pulling troops out of Afghanistan, because we need to ensure “the rights and protection of women” who were abused by the Taliban.
This article includes a long list of other illegal aliens who were set free in Mecklenburg County after having been arrested for crimes that include kidnapping, multiple serious assault charges, rape and child sex abuse.
Governor Pritzker’s family is worth approximately $29-billion and is heavily invested in the medical industry. His cousin, James, is a transgender woman known as ‘Jennifer,’ who spends heavily to advance the institutionalization of transgenderism.
President Trump is considering designating Antifa as a terrorist group. Journalist Andy Ngo documented the violence by Antifa in Portland over the weekend, including this account of an assault: “A middle-age man was maced and beaten by an antifa mob. He was knocked unconscious to the ground.”
Under his proposal, the FBI would conduct assessments of white supremacist threats and improve reporting of hate crimes. The proposal builds upon Booker’s sweeping anti-gun plan that would establish a national licensing program for gun ownership.
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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.
In a free country, citizens do not have the right to use force against their neighbors to prevent them from selling their products below cost – even if their intent is to force competitors out of business. If we do not have that authority as individuals, we cannot delegate it to politicians to do it either, regardless of how much we may like the idea. Therefore, there should be no anti-trust laws, but there CAN and SHOULD be laws against favoring one company or consortium of companies over their competitors, which creates monopolies. Click link for full commentary by GEG.
Amazon, Starbucks and other large employers were able to pressure Seattle’s City Council into overturning the socialist “head tax” of $275 on each employee per year that was expected to raise $50 million per year. The money was to help the growing homeless population. Amazon has more than 45,000 employees, and the tax would have cost the company $12,375,000.