Skip to content
Search AI Powered

Latest Stories

Elizabeth Warren Said that Amazon Doesn't Pay Its Fair Share in Taxes and the Company's Response Totally Proves Her Point

Elizabeth Warren Said that Amazon Doesn't Pay Its Fair Share in Taxes and the Company's Response Totally Proves Her Point
Ethan Miller/Getty Images and Lionel Bonaventure/AFP/Getty Images)

She schooled them.

In a Thursday blog post, Democratic Senator Elizabeth Warren of Massachusetts outlined a plan to close corporate tax loopholes so multi-billion dollar companies cannot use existing tax law to pay $0 in federal taxes. One of the companies she cited by name was Amazon.

But Amazon had a response for the 2020 Democratic presidential hopeful.


The company issued an official statement.

"Amazon pays all the taxes we are required to pay in the U.S. and every country where we operate."

Amazon official statement (@eschor/Twitter)

But Warren also had a response ready.

In her blog, Warren wrote:

"...our corporate tax code is so littered with loopholes that simply raising the regular corporate tax rate alone is not enough."

Of her proposed plan, the Real Corporate Profits Tax, she stated:

"It will make our biggest and most profitable corporations pay more and ensure that none of them can ever make billions and pay zero taxes again."

But how much of a problem is this?

Under President Donald Trump and the GOP's Tax Cuts and Jobs Act, twice as many companies are paying no federal taxes. The number went from 30 to 60, so far, which may seem like a small number.

However the amount of money is not small.

According to the bipartisan, non-profit Center for Public Integrity and the Institute on Taxation and Economic Policy (ITEP):

"[The companies were] able to zero out their federal income taxes on $79 billion in U.S. pretax income."
"Instead of paying $16.4 billion in taxes, as the new 21 percent corporate tax rate requires, these companies enjoyed a net corporate tax rebate of $4.3 billion, blowing a $20.7 billion hole in the federal budget last year."

In addition to dropping the corporate tax rate in their new GOP tax plan—pushed through Congress by former Speaker of the House Paul Ryan and Senate Majority Leader Mitch McConnell while the Republicans still controlled both houses—it also "lowers the bar for the amount of tax avoidance it takes to get you down to zero" per Matthew Gardner, an ITEP senior fellow and lead author of the report.

Gardner added:

"The specter of big corporations avoiding all income taxes on billions in profits sends a strong and corrosive signal to Americans: that the tax system is stacked against them, in favor of corporations and the wealthiest Americans."

And many agreed with his assessment.

Despite GOP claims that such tax breaks for the most profitable corporations and wealthiest individuals in the United States would lead to higher wages and benefits, working people are not seeing it in their paychecks.

But someone asked an important question about Amazon founder Jeff Bezos.

"how do "modest profits" spin out the world's richest person? how much do their low wage workers get subsidized by federal programs? such bunk of a statement......."

Amazon has yet to release another response to Senator Warren.

More from News

Donald Trump
Chip Somodevilla/Getty Images

Trump Dragged After Giving Unlikely Reason Why He Doesn't Like The Term 'Artificial Intelligence'

MAGA Republican President Donald Trump was in attendance at an artificial intelligence summit on Wednesday. During a speech at the event, he revealed he dislikes artificial intelligence.

Well, the term for the technology at least. Trump seems to love posting AI-generated videos of himself as a golden idol and his adversaries being arrested.

Keep ReadingShow less
Angus King
Chip Somodevilla/Getty Images

Pro-Choice Senator Sparks Outrage After Admitting Vote To Confirm Anti-Abortion Judge Was 'A Mistake'

Maine independent Senator Angus King voted Tuesday to confirm a Christian nationalist solicitor general from Missouri, Josh Divine, to a lifetime appointment as a federal judge in his home state.

King, a staunch pro-choice advocate throughout his time in the Senate, said on Thursday his vote was "a mistake."

Keep ReadingShow less

People Break Down Which Professions Make Bad Spouses

When two people get married, the vows they've exchanged promise that they will stick together through thick and thin.

But "in sickness and in health" doesn't necessarily cover the hardships that come with some professions a person might be working in, and it might be too much to maintain the career and the marriage.

Keep ReadingShow less
Barack Obama; Joy Behar; Donald Trump
Melina Mara - Pool/Getty Images; The View/YouTube; Chip Somodevilla/Getty Images

White House Gives 'The View' Ominous Warning After Joy Behar Quips That Trump Is 'Jealous' Of Obama

On Wednesday, the discussion on The View turned to MAGA Republican President Donald Trump's latest attempt to distract the nation from his involvement with sex trafficker Jeffrey Epstein—by accusing former Democratic President Barack Obama of being "sedacious."

It's believed he meant "seditious."

Keep ReadingShow less
Jack Schlossberg; Melania Trump
Bill Clark/CQ-Roll Call, Inc via Getty Images; Anna Moneymaker/Getty Images

JFK's Grandson Slams GOP

Jack Schlossberg, the grandson of former President John F. Kennedy, took to Instagram to criticize the proposed renaming of the Kennedy Center’s renowned opera house to the “First Lady Melania Trump Opera House.”

The proposal passed with a 33-25 vote on July 22nd, as the House Republican subcommittee voted on the routine annual $37.2 million funding for the center, effective October 1.

Keep ReadingShow less