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A comment on Amazon in Its Prime: Doubles Profits, Pays $0 in Federal Income Taxes. Parent comment

Re:Amazon in Its Prime: Doubles Profits, Pays $0 in Federal ... by anonymous5133 on Wednesday February 13, 2019 @02:27PM (#19155953)
Because we've already spent those tax dollars by allocating them to some spending program. In other words, we can't stop taxing corporations and based on current sentiments going around....the taxes on businesses are only going higher.

I agree it is stupid to tax businesses due to how international our economies are getting. Foreign companies can ship product into the USA but pay no taxes in the USA so they get an economic advantage by being in the lowest taxed country. The only tax they pay is import taxes.

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Re:Amazon in Its Prime: Doubles Profits, Pays $0 in Federal ... by anth_anm on Wednesday February 13, 2019 @02:55PM (#19156317)
> based on current sentiments going around....the taxes on businesses are only going higher

They literally just slashed them.

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Re:Amazon in Its Prime: Doubles Profits, Pays $0 in Federal ... by nradov on Wednesday February 13, 2019 @03:08PM (#19156453)
Income taxes go into the general fund, they aren't allocated to specific spending programs. Obviously any complete elimination of corporate income taxes would have to be coupled with a tax increase on high-income individuals in order to make the change revenue neutral.
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Re:Amazon in Its Prime: Doubles Profits, Pays $0 in Federal ... by nightski on Wednesday February 13, 2019 @02:46PM (#19156198)
From my understanding the government pays for things by printing money. It's literally created on demand. Taxation and bonds/interest rates are partially used to take excess money supply out of the economy and control inflation (which is a highly simplified view of things).
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