The Guardian: Amazon Made an $11.2bn Profit in 2018 – And Its Federal Tax Bill is $0
media mention“This is not their first rodeo,” said Matthew Gardner, ITEP senior fellow. “More than any company I have ever seen they have built their company around tax avoidance.”
One central idea of Trump’s tax cuts was to cut corporate tax rates from 35% to 21% but as the tax filings come in it is becoming increasingly clear that many companies are not even paying the lower rate, he said.
“You can’t lay the blame too much on Congress,” said Gardner. “It wasn’t Congress that came up with these ideas. They are the product of a lobbying blitz from these companies. These companies wrote the law in many cases.” Read more