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Joe Biden hits Amazon for their systematic reluctance to pay taxes
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Joe Biden hits Amazon for their systematic reluctance to pay taxes

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During his speech in Pittsburgh, Pennsylvania, US President Joe Biden singled out Amazon from some of the largest businesses in the US, saying that the multibillion dollar company is a monopoly which "pay not a single solitary penny in federal income tax."

On the same day, the White House announced changes to the tax code, according to which multinational companies will be required to pay 7 percent more taxes (from 21% to 28%). Also, many loopholes were closed, allowing money to be withdrawn from the United States.

Amazon was one of 91 Fortune 500 companies that “use various loopholes where they pay not a single solitary penny in federal income tax,” in contrast to middle class families paying over 20% tax rates.

“I don’t want to punish them but that’s just wrong,” Biden said.

Image: Global Look Press / Mark Hoffman

Author: Usa Really