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

Joanna and Chip Gaines
Michael Buckner/Variety via Getty Images

HGTV Stars Respond To Backlash From Christian Fans For Casting Same-Sex Couple In Their New Series

Back in 2016, home renovation and lifestyle power couple Joanna and Chip Gaines faced accusations of anti-LGBTQ+ bigotry. The criticism stemmed from their attendance at a Waco, Texas church that preached against LGBTQ+ equality and basic human rights.

At the time, the couple owned and operated Magnolia Homes, a remodeling and design business in Waco, Texas, and their HGTV program Fixer Upper was a hit. After the show ended in 2018, the couple created their own Magnolia Network in partnership with Warner Bros. Discovery in 2020 to create original content and air other home and lifestyle programs.

Keep ReadingShow less
screenshots from video of JD Vance at Disneyland
@janekleeb/X

JD Vance Called Out For Hypocrisy As He Visits Disneyland With His Family Amid Boos

On Saturday, one-time vehement Trump critic turned MAGA Republican convert Vice President JD Vance went on vacation to Disneyland in blue state California, despite Disney World in red state Florida being closer to Washington D.C. and in the middle of MAGA territory.

The administration of MAGA Republican President Donald Trump is currently engaged in a face-off with California over occupying forces sent by Trump to Los Angeles, which is about 50 miles from Anaheim where Disneyland is located, making Vance's choice even more questionable.

Keep ReadingShow less
Donald Trump; Joe Biden
Mandel Ngan/Pool/Getty Images; Kevin Dietsch/Getty Images

Joe Biden Calls Out 'Liar' Trump Over His Claims About Biden's Use Of Autopen For Pardons

Speaking to The New York Times, former President Joe Biden called President Donald Trump a "liar" over claims that Biden's pardons are "void" because they were done by autopen, a conspiracy theory heavily promoted by Republicans who've already suggested many times that Biden was not mentally fit while in office.

In the final hours of his presidency, Biden issued a series of preemptive pardons, including ones for his relatives, all members of the House committee that investigated the January 6 attack—such as former Congresswoman Liz Cheney—and several of Trump’s most prominent adversaries, including General Mark Milley and Dr. Anthony Fauci.

Keep ReadingShow less
Nancy Mace
Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Nancy Mace Gets Brutal Reminder On X After She Tried To Praise Trump For 'Rebuilding' The U.S.

South Carolina Republican Representative Nancy Mace was fact-checked by an X Community Note after she tried to praise President Donald Trump for "rebuilding" the country, when she herself voted against President Biden's 2021 Infrastructure Investment and Jobs Act (IIJA).

The IIJA authorized $1.2 trillion in funding and the increased federal spending in recent years has improved U.S. ports, roads, parks, and other services in a country that civil engineers have long said spends too little on infrastructure.

Keep ReadingShow less
black Lamborghini parked in front of a boutique
Danilo Capece on Unsplash

Surprising Things Poor People Learned When Dating Someone Rich

There are life lessons learned through adversity. Some of them are actual survival skills while others are about managing expectations and disappointment.

But some people face very few hardships in their lives due to the power of money.

Keep ReadingShow less