Amazon's Luxembourg unit saves it billions in corporate taxes

T

tecoyah

Oct 2012
4,429
1,084
Louisville, Ky
myp said:
The IRS is asking for $1.5 billion in back taxes which Amazon will contest.

http://www.reuters.com/article/2012...ers/MostRead+(News+/+US+/+Most+Read+Articles)

Can we please talk about a progressive consumption tax and get rid of this enigma of corporate, income, capital gains etc. that are so easy to game?
Click to expand...


That would make sense...so no freakin' way!

"General Electric, one of the largest corporations in America, filed a whopping 57,000-page federal tax return earlier this year but didn't pay taxes on $14 billion in profits. The return, which was filed electronically, would have been 19 feet high if printed out and stacked."
http://www.weeklystandard.com/blogs...-paid-no-taxes-14-billion-profits_609137.html


 
T

tecoyah

Oct 2012
4,429
1,084
Louisville, Ky
Yes...it is.

But, It Should Not Be!


This is the best example of what is called "Class Warfare" anywhere...you can buy freedom from contributing to society financially, if you have sufficient funds to pay for it.

And for some reason...some want to give them even more. I do not hate the rich, or corporations...but, I hate what they do to our system.
 
myp

myp

Jan 2009
5,841
50
This sort of thing happens with individuals too- when's the last time you paid taxes on your online purchases if you aren't in Ca, Il, or one of those states that requires it upfront? I am pretty sure a lot of states say technically you are supposed to report it. In that case it isn't even legal not to pay.

Another example is with capital gains vs. income for business owners (including small business).

It is an issue with the system and the incentives it creates. I don't attribute it all to regulatory capture.
 
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