Gee, I wonder why Bernie and Warren are so popular, couldn't have anything to do with tax policy and stories like this could it? I wonder how such an absurd situation arose where a highly profitable corporation pays either none or so little tax? I'll bet the thousands of small retailers that they drove out of business with technology paid a lot more in cumulative taxes. This is a situation where technology concentrated wealth, removed other competing business models and policy left it untaxed by an unresponsive and compromised government. Not exactly a left wing source either and yeah I know Bernie owns three houses etc. Just pointing out some of the motivating factors for many left wing voters, this is a movement that largely grew out of the disgust about the financial crisis of 2008 and its aftermath, recovery aside. If they don't pay taxes regular citizens make up the slack or do without government services.
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Jeff Bezos spent more on this house in Beverly Hills than Amazon has paid so far in federal corporate income tax for 2019
The Amazon founder has purchased the famed Warner Estate from entertainment mogul David Geffen for a record-breaking $165 million
The Amazon CEO purchased the famed Warner Estate for a record-breaking $165 million.
www.marketwatch.com
Amazon CEO Jeff Bezos is reportedly paying $165 million for a palatial Beverly Hills mansion, and, according to SEC filings, with that sum the Amazon
AMZN, -2.65% founder could have footed the entire 2019 federal tax bill his company is planning to pay this year. He’d have $3 million left over.
Bezos purchased the Warner Estate, originally designed in the 1930s for the Warner Bros.
T, -0.16% president Jack Warner, from music mogul David Geffen,
the Wall Street Journal reported, citing sources described as familiar with the transaction.
That surpasses the previous highest price paid for a home in California. Last year, media executive Lachlan Murdoch
spent $150 million on Chartwell, the Bel-Air mansion famous from the television series “The Beverly Hillbillies.” Lachlan Murdoch is the son of media mogul Rupert Murdoch and co-chairman of News Corp, which owns Dow Jones & Co., publisher of MarketWatch and the Wall Street Journal. (A spokesperson for News Corp declined to comment.)
Amazon owes more than $1 billion in federal income taxes for 2019,
according to SEC filings submitted last month. The online retail pioneer so far has paid $162 million on its 2019 bill, with the remaining $914 million owed in 2019 federal income taxes deferred, the filing noted.
An Amazon representative declined to comment on Bezos’s property purchase or the company’s tax rates but referred to a previous company statement on Amazon’s tax bill.
“We follow all applicable federal and state tax laws, and our U.S. taxes are a reflection of our continued investments, compensation of our employees, and the current tax rules,” the company said in a Jan. 31 blog post.
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