US President Joe Biden called out tech giant Amazon for its failure to pay federal taxes. In an address in Pittsburgh, Biden delineated the importance of amplifying tax burdens on multinational companies.
The US president unveiled that Amazon was among the Fortune 500 companies that “use various loopholes where they pay not a single solitary penny in federal income tax.” Middle-class families pay a tax rate of over 30 per cent.
“A fireman, a teacher paying 22% — Amazon and 90 other major corporations paying zero in federal taxes? I’m going to put an end to that,” he said.
President Biden has been against multinational companies being exempt from tax payment. In 2019, he condemned Amazon, saying it was wrong for a company making billions in profits to pay less tax than the average citizen.
