Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
You Won't Believe How Much Taxes Amazon Paid Last Year
Posted
March 3, 2018
Views
109,693
Likes
1,571
Comments
764
Engagement
2.13%
March 3, 2018
109,693
1,571
764
2.13%
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9:48Now PlayingGuess how much Amazon paid in taxes? Cenk Uygur and Ana Kasparian, the hosts of The Young Turks,have the answer. Tell us what you think in the comment section below. Get money out of politics
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“Jeff Bezos is the richest person in the world, with a personal net worth of $108 billion. In 2017, Bezos’ company, the internet retail giant Amazon, reportedly took in $5.6 billion in U.S. profits.
So, how much did Amazon pay in income tax on that bounty? Hang on, we’re getting some news...what? What’s this? Amazon effectively paid zero dollars in federal income taxes in 2017? Oh.
Amazon is projecting a $789 million windfall from Republicans’ tax bill, according to the Institute on Taxation and Economic Policy, which may have factored into its reason for witholding taxes this year. Bezos—like many other nominally liberal capitalists—claims to disagree with Donald Trump’s policies, while quietly lapping up the Republicans’ regressive tax breaks.
You may be asking: How is this legal? Isn’t Amazon an American company? Aren’t companies required to pay federal income tax? Hello?
Amazon’s global headquarters is not in Seattle, but in the tiny landlocked nation of Luxembourg (Amazon employs more than 40,000 people in Seattle, compared to 1,500 people in Luxembourg.). The European Union has accused Luxembourg of giving illegal tax breaks to Amazon and has ordered the country to recover $295 million in back taxes from Amazon.”
Hosts: Cenk Uygur, Ana Kasparian
Cast: Cenk Uygur, Ana Kasparian
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Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. A young person who rebels against authority or societal expectations.(American Heritage Dictionary)
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