Amazon, Meta, Alphabet report plunging tax bills thanks to AI and tax changes

https://finance.yahoo.com/news/amazon-meta-and-alphabet-report-plunging-tax-bills-thanks-to-ai-investment-and-new-rules-in-washington-161229652.html

by epistasis • 5 months ago

45 47 5 months ago

finance.yahoo.com

SilverElfin3• 5 months ago

Sad. What we need is higher taxes on the largest and most powerful corporations and lower taxes for small business and startups so they can compete fairly. This just extends the reign of the corporate oligarchs.

jazz9k• 5 months ago

The top companies (and the wealthiest for that matter) already pay the majority in taxes. This doesn't include the jobs created to support everything (and the taxes paid from these jobs).

We should be allowing businesses to write off research and development. This promotes forward-thinking and almost always adds new jobs during the investment phase and after.

More tax money just gets wasted at the top. California is a good example of this. They pay more in taxes than any other state and have almost nothing to show for it but a failing education system, crumbling infrastructure, and high crime.

The main issue is that those companies should be require to hire US citizens and not outsourcing, for these jobs.

The tariffs Trump had in place were a good start.

hollerith2• 5 months ago

We should be allowing businesses to write off research and development.

The US tax code does allow business to write off R & D.

epistasis5• 5 months ago

That's incorrect information, roughly half of US tax revenue is from income taxes, roughly a third is payroll taxes (not sure whether to attribute that to employees or corporations paying), and then corporate taxes and excise taxes are only about a tenth of US tax.

SilverElfin3• 5 months ago

The top companies (and the wealthiest for that matter) already pay the majority in taxes.

When you hoard far more than just a slim majority, paying a majority isn’t unexpected and it can still be unfair. But I think you are talking about federal personal income tax not corporate tax.

We should be allowing businesses to write off research and development.

They already do in various ways.

More tax money just gets wasted at the top. California is a good example of this.

I agree California is wasteful. But we can tax and just give the money directly to people.

The main issue is that those companies should be require to hire US citizens and not outsourcing, for these jobs.

Not even close to the main issue. Why not just redistribute the gains instead of playing games with these other schemes?

croes2• 5 months ago

The top companies (and the wealthiest for that matter) already pay the majority in taxes.

First, not true.

Second, even if true it wouldn’t be surprising, if you have most of the wealth you pay most of the tax money. It’s surprising that that’s not even the case.

Third, it explains California. Of course the state with the highest GDP has also the highest tax income

renewiltord7• 5 months ago

What we need is to cap all wealth at $200k. Any more than that and it is 100% taxed away. Inequality is the number one problem. And it should apply to unrealized gains as well. E.g. houses should not be more than $100k. And if you have a beneficial interest in something it should count as owning the whole thing. The taxes should be distributed to the poorest.

Of course if you oppose this you are wealthy and are a money hoarder. Inequality is the number one problem.

_alternator_• 5 months ago

It doesn't feel like you’ve thought through the nuances and implications of this policy, and the tone makes me think you don’t really want to.

twolegs• 5 months ago

Why 200k? Why not 100k? Or just $10. Let's just burn all the money, that way our problems will be solved for sure.

thot_experiment• 5 months ago

I agree with you 100% at least in spirit, I don't think any such simplistic solution would function.

That being said the current system desperately needs balance changes to nerf the stacking buffs from having money. It should be the opposite, the more money you have the harder it should be for you to get any additional money, and this difficulty curve should be asymptotic.

krapp2• 5 months ago

I agree in principle, but I think the limit should be $1 million. You get to be a millionaire but that's it. Enough money to live well, but not enough to run a pedophile island. Not enough to purchase a government. Not enough to be above the law. Certainly not enough to keep you from working and entirely alienate you from the human condition if you do want to live well.

fennecbutt• 5 months ago

Ehehe look how downvoted you are - which literally proves the point.

Humans are a bunch of greedy selfish tribal bastards, aren't we?

Don't worry, I've had similar down voting whenever I've suggested that owning more than one home in a broken housing market shouldn't be allowed.

People make noises about being all in this together but will work against it actually happening, especially Americans (see: your tragic healthcare system).

Actually laughable that in 2026 we could automate most if not all basic human needs to the point that they're free. But you know, we don't.

mortsnort• 5 months ago

https://static01.nyt.com/images/2025/04/03/multimedia/00biz-...

epistasis5• 5 months ago

What a coincidence! Good thing that after the DOGE cuts and tax increases through tariffs, the deficit has been closed. Huh, I'm seeing a deficit of $1.8T in 2025, same as the deficit of $1.8 in 2024, the gauge must be broken...

Edit: hold on, breaking news from 1776: "People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the publick, or in some contrivance to raise prices" -Adam Smith, Wealth of Nations

polski-g• 5 months ago

Yes obviously this would be the case. They're taxes on income, not revenue. If they decide to invest in the future, it eats into their income.

Macha• 5 months ago

Presumably you mean profit and not income, since income is revenue

lotsofpulp• 5 months ago

In that context, income is obviously short for net income.

Amazon, Meta, Alphabet report plunging tax bills thanks to AI and tax changes

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