I guess lowering the rate from 35% to 21% means just that Amazon is not saving as much in taxes as they used to.
Meanwhile the rest of us are carrying its obligation via our taxes and the rising debt load.
I understand some of the loopholes. Honestly, though, if a company loses money then no tax payments are certainly understandable. Yet, when it does turn things around, it still pays no taxes.
Go figure. Or at least that is what Amazon accountants do…and very, very well.
Question: Does that make Amazon one of the 47% who “freeload” according to conservative thinking?
Yes, yes. I know that corporate income taxes are eventually paid by the consumer. So, is that tax break passed on to us? Hard to tell. Which, of course is the point.
The tax “reform” bill didn’t reform diddly. It just cut the taxes for the select few (some crumbs for voters too, to be fair) with borrowed money from a government already burdened with debt.
No swamp drained at all. Just replaced the water with Evian.