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Biden wants Amazon to ‘start paying their taxes’

by ace
Biden wants Amazon to 'start paying their taxes'


Former Vice President Joe Biden has renewed his criticism of e-commerce giant Amazon, once again turning the company into political football that has been kicked out by presidential candidates on several issues, including taxes and delivery fees.

On Friday, Biden was asked in an interview with CNBC about whether the company should be broken up to prevent it from becoming powerful and monopolistic, as suggested by former presidential candidate Sen. Elizabeth Warren.

"I think Amazon should start paying its taxes, okay?" said Biden, a Democratic presidential candidate for the presidency. "I don't think any company, I don't give a damn about their size, Lord Almighty, should be absolutely in the position that they don't pay taxes and make billions, billions and billions of dollars, number one."

In this image from the video provided by Biden's campaign for president, former Democratic presidential candidate Joe Biden speaks during a virtual press conference on Wednesday, March 25, 2020. (Photo: AP)

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Biden then doubled his statements on Twitter, saying, “I have said this before and I will repeat it: no company that makes billions of dollars in profits should pay a lower tax rate than firefighters and teachers. It's time for Amazon to pay its fair share. "

Amazon's position is that it pays what it owes under the tax code.

A recent analysis by the liberal-minded Institute of Taxation and Economic Policy said that, despite reporting $ 29 billion in US revenue over the past three years, the company reported a total of zero current federal income taxes over the same period.

"In fact, the company's total three-year federal taxes were negative – a $ 102 million discount!" the institute wrote.

Obtained for comment, the company referred to a post in January that said its U.S. taxes in 2019 included $ 1 billion in federal income tax expenses.

"We follow all applicable federal and state tax laws, and our taxes in the U.S. are a reflection of our ongoing investments, employee compensation and current tax rules," company wrote.

Biden made similar comments last year and is now discussing the issue again during the campaign season. President Trump has criticized Amazon CEO Jeff Bezos, owner of the Washington Post, one of several media outlets that Trump ridiculed for his coverage of him. Last month, Trump also said he would not approve a $ 10 billion loan to the U.S. Postal Service unless he raised fees on Amazon's delivery services.

Read or share this story: https://www.usatoday.com/story/tech/2020/05/22/joe-biden-took-another-swipe-amazon-its-tax-payment-history/5247975002/


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