They still have to pay social security tax. How many billions is that? What I don't like is the exclusive government contract, subsidized shipping, and local tax breaks that the other employers have to pay and gives Amazon a advantage over competitors.
Amazon ends up paying for the income tax of all of its employees, since it has to pay the more to cover that immense cost.https://twitter.com/hD5611/status/1173351858192048128 …
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I think the appropriate response Steph is "you shouldnt be paying income taxes either."
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The fact remains that Amazon pays no corporate income tax.
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Amazon is a corporation. It doesn’t pay individual income tax, it pays a corporate tax on profits. Amazon follows the tax laws in place to determine the taxes it’s owed and for such a large amounts, the IRS surely checks to make sure they follow the law. If Amazon didn’t...
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...pay taxes, they are following the law. The law changed recently to deduct investments in business and infrastructure development quickly rather than 10-20y out. That was appropriate back when things didn’t change much over decades. Not so much now. Corporate taxes are...
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... being paid by the companies that sell the things Amazon uses to improve its capital resources. Amazon makes those investments because they think it will allow bigger profits in the near future which means more taxes will be paid then.
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You are such a big fan of capitalism, except when you are not. Amazon has put more small businesses out of business than practically any other company. Retail stores cannot compete with Amazon so they go broke. Malls cannot compete with Amazon so they go broke.
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Build a better model, Tom.
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I will. Actually its already there. Look no further than the Basque region of Spain.
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Show me one study or even an article that says Amazon pays the income tax of its employees. That is looking like hyperbolic bullshit just to hype everybody up.
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The important part of a wage for an employee is the take-home part (so after payroll tax). A wage is based on keeping employees, it is based on staying competitive in the labor market. If Amazon were to be exempted from payroll tax it could pay the same wages employees get after.
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the payroll tax and they would remain competitive and the employee's take-home income would not be impacted by all. Payroll tax is always a tax on the company.
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No, the employees pay their income tax. Dead wrong about Amazon, Stefan.
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lol Stefan doesn't know how taxes work dfkm
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Its called a monopoly strangle hold, and its actually detrimental to a free market. Next this you know, you will be defending Walmart. Walmart, the main reason China's economy is growing faster than that of the US. "Free trade" isn't always good for National interests.
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This covers what is and is not paid.https://taxfoundation.org/what-are-payroll-taxes-and-who-pays-them/ …
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