News

Biden criticizes Amazon for paying $0 in corporate taxes

September 6, 2020 /

Former Vice President Joe BidenJoe BidenHillicon Valley: Biden calls on Facebook to change political speech rules | Dems demand hearings after Georgia election chaos | Microsoft stops selling facial recognition tech to police Trump finalizing executive order calling on police to use ‘force with compassion’ The Hill’s Campaign Report: Biden campaign goes on offensive against Facebook MORE on Thursday criticized online retail giant Amazon for paying nothing in corporate taxes last year, making him the latest presidential candidate to slam one of the most profitable companies over its effective tax rate of below zero.

“I have nothing against Amazon, but no company pulling in billions of dollars of profits should pay a lower tax rate than firefighters and teachers,” Biden tweeted. “We need to reward work, not just wealth.”

A report from the Institute on Taxation and Economic Policy earlier this year found that 60 Fortune 500 companies, including Amazon, avoided paying any federal income taxes in 2018. Amazon, which had $11.2 billion in profits last year, has become a prime target for Democrats seeking to criticize corporate power, potentially anticompetitive practices and dangerous working conditions. ADVERTISEMENTThe company has been accused of mistreating warehouse workers, and it’s facing multiple lawsuits from former employees who said they were treated inhumanely at the facilities. Amazon has said it treats its workers fairly.

Biden jumped into the fray earlier this week, slamming the company at a campaign stop in Iowa on Tuesday.

“I’ve got nothing against Amazon,” Biden said. “But they should pay a few taxes, you know what I mean? What happens? It’s all you guys. No, I’m serious.”

In a statement to The Hill, an Amazon spokesperson defended the company’s record on taxes.

“Amazon pays all the taxes we are required to pay in the U.S. and every country where we operate, including paying $2.6 billion in corporate tax and reporting $3.4 billion in tax expense over the last three years,” the spokesperson said in a statement. “The government has designed corporate tax law to encourage businesses of all sizes to invest in the U.S. economy to drive growth and create jobs.”

The spokesperson added that the company invested more than $50 billion and created 45,000 full-time, full-benefit jobs last year.

Biden’s remark that he has “nothing against Amazon” raised eyebrows, as it comes amid a furious backlash in Washington against the country’s top tech giants. Lawmakers and advocates have accused Amazon of wielding its corporate power to the detriment of other companies and workers.

Sen. Elizabeth WarrenElizabeth WarrenWarren, Democrats urge Trump to back down from veto threat over changing Confederate-named bases OVERNIGHT DEFENSE: Joint Chiefs chairman says he regrets participating in Trump photo-op | GOP senators back Joint Chiefs chairman who voiced regret over Trump photo-op | Senate panel approves 0B defense policy bill Trump on collision course with Congress over bases with Confederate names MORE (D-Mass.) has called for the government to break up Amazon, criticizing the company for running an online retail store while also selling products on the platform.

“Amazon crushes small companies by copying the goods they sell on the Amazon Marketplace and then selling its own branded version,” Warren wrote in a blog post laying out her plans to break up tech companies like Facebook and Google.

Sen. Bernie SandersBernie SandersThe Hill’s 12:30 Report: Milley apologizes for church photo-op Harris grapples with defund the police movement amid veep talk Biden courts younger voters — who have been a weakness MORE (I-Vt.) has taken Amazon to task over its working conditions, among other things.

The company has also drawn the ire of President TrumpDonald John TrumpSenate advances public lands bill in late-night vote Warren, Democrats urge Trump to back down from veto threat over changing Confederate-named bases Esper orders ‘After Action Review’ of National Guard’s role in protests MORE, who has insulted CEO Jeff BezosJeffrey (Jeff) Preston BezosTwitter to honor Juneteenth as company holiday Hillicon Valley: Chinese tech groups caught in rising US-China tensions | Senator questions controversial facial recognition group on use during protests | Study finds vulnerabilities in online voting system used by several states Bezos says he’s ‘happy to lose’ customers over his Black Lives Matter support MORE, who also owns The Washington Post. The president has accused the Post of being biased against him.

Earlier this week, Trump accused Amazon of colluding with Democrats to “discriminate” against him.

Click Here: Golf special

Updated at 12:35 p.m.

By  Comments Off on Biden criticizes Amazon for paying $0 in corporate taxes