Elizabeth Warren Takes 'Prime Day' Opportunity To Slam Amazon's 'Freeloading' In 2018: '$10B In Profits ... But Paid $0 Income Tax'
Portfolio Pulse from Shanthi Rexaline
Senator Elizabeth Warren criticized Amazon's tax practices following the conclusion of Prime Day 2023, reminding that the company paid no federal income taxes in 2018 despite making over $10 billion in profits. Warren noted that Congress passed her plan for a minimum tax on massive corporate profits, which became applicable from Dec. 31, 2022. Amazon paid zero federal taxes in 2018 and 2019, but had to foot a federal tax bill of $162 million in 2019, a fraction of the $13.98 billion it earned as pre-tax income.

July 13, 2023 | 8:07 am
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Amazon's tax practices have been criticized by Senator Elizabeth Warren, which could potentially impact the company's public image and investor sentiment.
The criticism from Senator Warren could potentially lead to negative public sentiment towards Amazon, which could impact the company's stock price. Additionally, the implementation of the minimum tax on massive corporate profits could increase Amazon's tax liability, which could affect its profitability and thus its stock price.
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