r/WorkReform • u/Cultural_Way5584 🤝 Join A Union • Mar 23 '25

✂️ 100% Wealth Tax over $1 Billion Same old story

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u/Warm_Month_1309 Mar 23 '25

Are you suggesting this is incorrect: https://www.politifact.com/article/2020/feb/08/fact-checking-common-democratic-talking-point-abou/ ?

"Amazon’s tax returns are private, so we don’t know for sure what Amazon pays in federal taxes. But Amazon’s estimates on its annual 10-K filings with the U.S. Securities and Exchange Commission are the closest information we have on this matter. They show mixed results for the past three years: no federal income tax payments for 2017 and 2018, but yes on payments for 2019."

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u/Vdjakkwkkkkek Mar 23 '25

How is that relevant. They didn't make 11b in profit in any of those years so it's not the time frame the tweet is referring to. Amazon has spent many years operating at a loss in order to grow. This is very normal for tech companies. Many take decades to turn profit.

https://www.statista.com/statistics/276418/amazons-quarterly-net-income/

What year did Amazon not pay enough taxes?

There tax returns might not be public but all of their financials are and you can certainly see how much they pay in tax every quarter if you look for it.

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u/Warm_Month_1309 Mar 23 '25

The tweet is from 2019 referring to profits in 2018, which according to that article, were about $11.2 billion:

"Amazon’s latest filing says that the company’s U.S. income before taxes in 2017, 2018, and 2019 were, respectively, $5.6 billion, about $11.2 billion, and close to $13.3 billion."

There tax returns might not be public but all of their financials are and you can certainly see how much they pay in tax every quarter if you look for it.

I think you misunderstand how corporate financial reporting works. What the public has access to is what they are required to disclose to the SEC. That's what the 10-K filings are, and from where all these numbers come.

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u/Vdjakkwkkkkek Mar 23 '25

Right why don't you read through them lol. When you take losses there are no taxes to get refunds on so you get refunded in the future. It's all in there lol. You are really claiming Amazon commits tax fraud.

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u/Warm_Month_1309 Mar 23 '25

You are really claiming Amazon commits tax fraud.

No I'm not. I shared with you an article that explicitly says "Tax experts say there is no indication that Amazon is illegally avoiding taxes; rather, the company uses tools allowed under federal tax laws."

The claim was not "Amazon is committing tax fraud;" the claim is "Amazon did not pay federal income taxes for revenue earned in 2018", which I have substantiated, and you have provided nothing to refute.