Nevada regulators documented approximately 800 environmental violations by Elon Musk’s Boring Company on the Las Vegas tunnel project, ranging from unauthorized drilling to water contamination. Despite the extensive violations warranting a $3 million fine, regulators reduced the penalty to …
Amazon announced on November 13, 2018 that it would split its HQ2 project between Long Island City in Queens, New York and Crystal City in Arlington, Virginia (rebranded as “National Landing”). While Amazon claimed the combined subsidies totaled approximately $2.8 billion, analysis by …
AmazonJeff BezosAndrew CuomoBill de BlasioGood Jobs Firstcorporate-welfareeconomic-extractionbillionaire-impunitywealth-extraction
Amazon paid zero federal income tax for the second consecutive year despite nearly doubling its U.S. profits to $11.2 billion in 2018. Beyond avoiding all federal taxes, Amazon actually received a $129 million tax rebate from the federal government—yielding a negative 1% effective tax rate. This …
AmazonJeff BezosInstitute on Taxation and Economic Policytax-avoidancecorporate-welfarewealth-extractionbillionaire-impunity
Amazon reported $5.6 billion in U.S. profits for 2017 yet paid zero federal income tax, according to an analysis by the Institute on Taxation and Economic Policy (ITEP). The company used various tax credits and deductions—particularly tax breaks for executive stock options—to completely eliminate …
AmazonJeff BezosInstitute on Taxation and Economic Policytax-avoidancecorporate-welfarewealth-extractionbillionaire-impunity