Joe Biden jumped into the debate over corporate taxes with a jab at Amazon on Thursday, and Amazon jabbed back.
“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. We need to reward work, not just wealth,” the former Vice President tweeted, linking to a New York Times story from April about how Amazon got a rebate on its corporate taxes in 2018.
In the early evening, Amazon responded:
“We’ve paid $2.6B in corporate taxes since 2016. We pay every penny we owe. Congress designed tax laws to encourage companies to reinvest in the American economy. We have. $200B in investments since 2011 & 300K US jobs. Assume VP Biden’s complaint is w/ the tax code, not Amazon.”
According to the left leaning Institute for Taxation and Economic Policy, Amazon got a $129 million refund on its $11.2 billion in taxes in 2018 because of various tax credits.