How can you even begin to moderate a financial and taxation system in which a huge company like Amazon pays no federal income tax? It’s impossible.
The problem persists with the unfairness, inequality and immorality of capitalism itself. It’s certainly possible to argue endlessly with disingenuous conservatives about the growing rule of the oligarchy in this country—and make no mistake that Amazon’s leader Jeff Bezos is the quintessential oligarch—and perhaps secure slight modifications in the financial system, but the only real possibility for systemic change is to allow the fundamental ideas of socialism into the mainstream political discourse.
Yet corporate, mainstream publications, such as The New York Times, are actively preventing that from happening. Of course, Bezo owns The Washington Post.
As workers’ wages continue to stagnate and health, housing and higher educational costs soar for ordinary Americans, income and wealth is increasingly concentrated among a relatively few ultra-rich people, such as Bezos and other oligarchs. The United States government and the American press today not only sanction unprecedented income inequality in this country but also eagerly promote it through the propagandistic lies of trickle-down economics disseminated by President Donald Trump and the Republican majority.
The Institute on Taxation and Economic Policy reported its analysis of Amazon’s tax situation in a recent online post:
The online retail giant has built its business model on tax avoidance, and its latest financial filing makes it clear that Amazon continues to be insulated from the nation’s tax system. In 2017, Amazon reported $5.6 billion of U.S. profits and didn’t pay a dime of federal income taxes on it. The company’s financial statement suggests that various tax credits and tax breaks for executive stock options are responsible for zeroing out the company’s tax this year.
This doesn’t even include the estimated $789 million tax break the company will receive under the recent tax cut pushed by the Trump regime and passed by Republican majorities.
So, again, how is it even possible to change the system so Amazon pays income taxes on its profits? Do you change the tax code? Is that even possible even if more Democrats are elected? Probably not. How can you roll back tax cuts to corporations and oligarchs when they have been given so much of society’s wealth and its corresponding power that they now have absolute control of the country’s political system? More importantly, how can you make significant changes within the capitalistic system if you condone its basic claims of inequality and racism?
The philosophy of socialism is rooted in equality and that includes embracing the ideas of livable incomes and opportunities for all people. Equality and income fairness will never happen under the oppression and unfairness demanded by unfettered capitalism. There will never be widespread opportunity for people in this country when a company that makes $5.6 billion in annual profits doesn’t have to pay a share for the common good at all.