Drudge linked to an article by Emma Roller on Splinternews.com that reported that Amazon made profits of $5.6 billion in 2017 but is paying no federal income taxes.
Amazon is owned by one of the richest men on the planet and the article never mentioned how much he pays in federal income taxes on a personal level. Amazon is a LLC, which for those of you who are ignorant with the tax laws means that the profits from the LLC pass through to the owners of that LLC and who then pay income taxes on that money on a personal level.
So when they say that Amazon is paying no federal tax it is technically correct, however there are federal taxes being levied against that income when it is reported on a personal tax return.
It’s a sad state of affairs when the liberals have to mislead the general public into thinking that the super rich get away with paying no income taxes. The top 5% of income earners pay something like 80% of the federal income taxes collected every year, so when they say the rich don’t pay their fair share I have to ask what exactly is their fair share?
Another part of the article talked about the fact that Jeff Bezos lags behind other super rich in setting up a foundation or trust to distribute their massive wealth upon their death to those who need it. Another liberal thought process… where is it written that if you have a lot of money that you should make arrangements to give it to those in ‘need’ upon your death? It’s his money… the liberal crowd might say he doesn’t deserve it, but they give him credit for being that rich so he must have earned it somehow. Most liberals are just jealous that they weren’t so fortunate to have started a company like Amazon. The majority of us are just glad that they can work for someone who has made or is making a lot of money so they have a decent paying job because without those rich people this country would truly turn into a third world shit hole in a hurry.