Amazon cancels plans to build New York headquarters

[EADC]

Because they're not taking money, they're providing goods and services in exchange for money, as well as providing employment for tens of thousands of people. You know, all those things that economies are built on? You're basically saying "why should we have an economy if the creators of said economy aren't forced to pay for other people's shyt".

So Amazon are not going to use any government provided services?

 

[rietrot]

Amazon is paying $0 in taxes on $11+ billion in profit.

$0 for schools.
$0 for firefighters.
$0 for infrastructure.
$0 for research and healthcare.

Why should corporations that contribute nothing to the pot be in a position to take billions from the public?

https://twitter.com/i/web/status/1096194174301495296

There financial statements are public record.

https://ir.aboutamazon.com/news-rel...announces-fourth-quarter-sales-20-724-billion
There's tax listed on there.

Then there's all the tax around the economic activity that they do. Each employee pay tax each shareholder pay tax

Without them the state would lose out on a shîtload of revenue, not $0

 

[Emjay]

Amazon is paying $0 in taxes on $11+ billion in profit.

$0 for schools.
$0 for firefighters.
$0 for infrastructure.
$0 for research and healthcare.

Why should corporations that contribute nothing to the pot be in a position to take billions from the public?

https://twitter.com/i/web/status/1096194174301495296

Jobs aide, this is a major issue.

 

[rietrot]

Jobs aide, this is a major issue.

No it's not. Ass soon as someone tries to take money out there's plenty of taxes.

 

[Gingerbeardman]

Jobs aide, this is a major issue.

Which is why corporations shouldn't receive special treatment. And Trump is also right that Amazon shouldn't be making use of the subsidised US postal service to make its profits, either.

 

[Nick333]

So Amazon are not going to use any government provided services?

Well, I'm sure they will be, but what's your point? They will be paying taxes, generating millions of taxable transactions, and paying billions in taxable income.

 

[Emjay]

There financial statements are public record.

https://ir.aboutamazon.com/news-rel...announces-fourth-quarter-sales-20-724-billion
There's tax listed on there.

Then there's all the tax around the economic activity that they do. Each employee pay tax each shareholder pay tax

Without them the state would lose out on a shîtload of revenue, not $0

Amazon did pay taxes to individual U.S. states ($211 million) and to international jurisdictions ($724 million), but their federal income tax burden was (less than) zero. The filings indicate that two factors provided the lion share of Amazon’s reduced federal tax liability: $220 million worth of tax credits, and $917 million in tax-deductible executive pay derived from the sale of stocks:

https://www.snopes.com/fact-check/amazon-federal-taxes-2017/

It does change the discussion a TON.

Edit:

And it's not unique to Amazon. All the big companies seem to be doing this. Could the government be worried that that these companies will move offshore?

It still is a net loss to New York though.

 

[Nick333]

Jobs aide, this is a major issue.

It's really not. They will be paying billions in taxes on billions more, as well as generating taxable transactions by the billion and taxable jobs in the tens of thousands. AOC is a fccking moron.

Edit: for future reference: if AOC says something it's wrong.

 

[Nick333]

Things like Google starts thinking it has the right to control what you think, and if they happen to do so in such a way that entrenches their monopoly, no harm no foul.

Ja, remember when Microsofts monopoly was the end of the fccking world, now Bill Gates is Jesus.

 

[EADC]

Well, I'm sure they will be, but what's your point? They will be paying taxes, generating millions of taxable transactions, and paying billions in taxable income.

Wait do you understand what zero means? thats how much federal income tax it paid.

Amazon created a media circus around its search for a second headquarters, or HQ2, which ultimately ended in it splitting the location between New York City and the greater Washington, D.C., area.

Its tactics should come as no surprise. Amazon has a long history of manipulating governments to secure favors that give it an undeserved competitive advantage—extracting public money for its own enrichment, and finding ways around tax obligations—starting from the very origins of the company in the mid-1990s.

http://fortune.com/2018/11/21/amazon-hq2-tax-breaks-subsidies/

 

[rietrot]

https://www.snopes.com/fact-check/amazon-federal-taxes-2017/

It does change the discussion a TON.

Edit:

And it's not unique to Amazon. All the big companies seem to be doing this. Could the government be worried that that these companies will move offshore?

It still is a net loss to New York though.

If i have to be critical. The US tax code and all the rebates and subsidies they get is a mess. God only knows what is really happening there.

But Amazon isn't to blame for that.
I like the idea of 0% corporate tax. That is a double tax in anyway because that same money gets taxes again if it is payed out as dividents.

 

[Gingerbeardman]

Ja, remember when Microsofts monopoly was the end of the fccking world, now Bill Gates is Jesus.

Remember when Google's search suggestions were actually found to influence the decisions people made?

But hey, I'm sure Google's political bias is in no way a threat to democracy, amiright?

 

[Nick333]

Remember when Google's search suggestions were actually found to influence the decisions people made?

But hey, I'm sure Google's political bias is in no way a threat to democracy, amiright?

Remember when Trump got elected despite Google and the media having a massive Left bias?

 

[Gingerbeardman]

Remember when Trump got elected despite Google and the media having a massive Left bias?

He was running against Hillary Clinton. Even God would have trouble pulling that one off.

 

[Emjay]

If i have to be critical. The US tax code and all the rebates and subsidies they get is a mess. God only knows what is really happening there.

But Amazon isn't to blame for that.
I like the idea of 0% corporate tax. That is a double tax in anyway because that same money gets taxes again if it is payed out as dividents.

I am starting to think along the same lines. The USA had record revenue collections this year though. So, tax high; you lose. Tax low; you lose less, but big companies don't pay their fair share. Something clearly isn't working.

But, you also need to remember that 45% of American's are not paying income tax either.

 

[Nick333]

Wait do you understand what zero means? thats how much federal income tax it paid.



http://fortune.com/2018/11/21/amazon-hq2-tax-breaks-subsidies/

Oh, I see federal tax. They did pay 2.6 billion in corporate tax in the last 3 years, not to mention everything else they contribute to the US economy directly or indirectly. They're a public company - someone's paying federal tax on their profits somewhere along the line.

 

[konfab]

Just some stuff to think about.

One thing you need to think about when looking at this type of stuff. A company like Amazon has a higher GDP than a lot of nation states. These tech enclaves are insane in security and have much higher tech than the countries they are often in. This kinda power goes to a persons head. When your tech enclave is more powerful than the country its in... what then?

With some of them (this is far bigger than just Amazon, everyone and the kitchen sink seems to be doing it now), you dont get basic human rights, you get a EULA.

Apply your mind as to what you are saying.

Amazon doesn't take a single dollar from its customers by force. Which means that whatever Amazon is selling, the people who buy it value it more than their money, which is why the trade happens.
Comparing that to a Guavament like here in the People's Republik of South Africa where you will get thrown in prison if you don't pay the Messiah of property rights and energy generation his dues.

Amazon is a better representation of what people actually want and need than any democratically elected government in history.

 

[Gingerbeardman]

Apply your mind as to what you are saying.

Amazon doesn't take a single dollar from its customers by force. Which means that whatever Amazon is selling, the people who buy it value it more than their money, which is why the trade happens.
Comparing that to a Guavament like here in the People's Republik of South Africa where you will get thrown in prison if you don't pay the Messiah of property rights and energy generation his dues.

Amazon is a better representation of what people actually want and need than any democratically elected government in history.

Until someone invents the libertarian utopia that functions, governments will remain a necessary evil. Corporations rely upon the law and order that government provides in order to engage in their business practices, shifting that tax burden onto the consumer isn't right, particularly when large corporations love to use their tax exemptions to prevent competitors from entering their markets.

 

[konfab]

If i have to be critical. The US tax code and all the rebates and subsidies they get is a mess. God only knows what is really happening there.

But Amazon isn't to blame for that.
I like the idea of 0% corporate tax. That is a double tax in anyway because that same money gets taxes again if it is payed out as dividents.

I like it too.

Schmucks like me who have opened small businesses to pay less tax will end up paying almost no tax

I think I have said it here before, the best and fairest system of taxation is a transaction tax on all bank transfers.
https://en.wikipedia.org/wiki/Automated_Payment_Transaction_tax

 

[konfab]

Until someone invents the libertarian utopia that functions, governments will remain a necessary evil. Corporations rely upon the law and order that government provides in order to engage in their business practices, shifting that tax burden onto the consumer isn't right, particularly when large corporations love to use their tax exemptions to prevent competitors from entering their markets.

I never said that we should ditch the state and go and live in John Galt's utopia.
There are functions only an institution like a state can perform. Law and order as you said, is one of them. Leaving that down to a market will destroy the concept of equality before the law.

The individual consumer is the one who benefits from having a system of justice that works well. Especially when there are large economic entities like corporations.