Why Jeff Bezos got criticized for donating $98.5M?
Jeff Bezos (the guy who rules the E-commerce market with his giant creation “Amazon”) just donated $98.5M to different charity groups like dreams.us (a non-profit working towards college access) and many others.
As he’s one of the biggest philanthropic you will ever get to see, but still, people around the world are criticizing him. The recent person who criticizes Jeff is the leader of the U.K labor party, Jeremy Corbyn. He was kinda angry on his act of giving $98.5M to charity instead of paying his taxes. As Amazon hasn’t paid any tax In 2018, Jeremy Corbyn thinks that he owns the money to the U.K which is suppose to be used in public services, which they rely on. He also once tweeted a sarcastic birthday wish to Amazon’s 25th anniversary in Jully, stating “Many happy taxes
Jeremy Corbyn also stated that the money Jeff donated was only 0.09% of his total wealth ($110.3B estimated by Forbes). He should pay more, as he has more money in his pocket. His tweet made other people (like politicians) criticize Jeff too.
In September 2018, when Bezos launched his “Bezos Day One Fund”, a $2B was donated to fight homelessness and supporting children to get a better education in lowly areas. And yet he didn’t exactly tell us how he’s going to donate the whole $2B. He also donated a total of $131M last year including $98.5M. But still, he’s numbered 23rd on Forbes Top Philanthropic list. Whereas his fellow billionaire members, Warren buffet donated $3.4B and Bill & Malenda donated $2.6B.
In a statement given to CNBC, Amazon’s spokesperson said: “We pay all of the taxes owed everywhere we operate”. He also stated that “We are heavily investing in U.k’s given tax laws to create more jobs and infrastructure across the U.K. We also have invested about $23.1B since 2010.” He added that “these investments by Amazon have helped contribute to a total tax contribution in the U.K.” According to the spokesperson, nearly about 2,000 new jobs will also be created in July in the U.K, which would make the total amount of Amazon employees up to 29.5K alone in the U.K.
“Amazon pays all of the taxes according to the tax laws of U.s and every other country where Amazon’s branch is operated, including paying $2.6B in corporate tax and $3.4B in tax expense over the last 3 years“ stated by the Amazon spokesperson to CNBC Make It in February.
What do you guys think, should the rich pay more taxes or not? Please share your opinion in the given comment section below.