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this post was submitted on 05 Apr 2024
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They got 1000 jobs and no taxes. 500,000 people in Mississippi live below the poverty line.
Even if every single one of those 1000 jobs are $200k a year super high paying tech jobs, and they're taxed at a ludicrously high rate of 40%, that's only $80M in income taxes per year. I wonder how that compares to if Amazon was charged taxes on their income.
In 2023, Amazon reported a profit of about $30B. If that profit were taxed at just 4%, an order of magnitude less than the personal income tax estimation I used earlier, you're looking at one point two BILLION dollars annually in taxes, several orders of magnitude more than the income tax number.
Mississippi is getting absolutely fleeced in this deal. Absolutely bent over and railed, and you're asking whether or not they should say* "thank you".
It's also very stupid, and it means that the politicians that offered these deals are stupid beyond belief, corrupt beyond belief, or both.
This is an absolutely terrible deal for the people of Mississippi, one that should have never been made.
If you think that this article is outrage bait, I don't think I wanna know what actually outrages you.
Yo, I'm sorry but you just don't understand anything you're talking about.
This is talking about Mississippi state taxes, not federal. Mississippi can't determine whether Amazon pays federal taxes.
And you're comparing the federal taxes on a few employees in just one state to the global profit of Amazon.
It's not even comparing apples and oranges, it's more like apples and tilapia.
I think it’s outrage bait because it’s strong in emotions but light on facts.
Clearly someone thought this was a good deal for Mississippi: I’d like to see those numbers. I’ll be happy to be outraged by the numbers, but not by some random TikToker
Then again, maybe whoever thought it was a good idea, learned math in Mississippi