Amazon uses loopholes to not pay a penny in tax: US President Joe Biden

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President Joe Biden on Wednesday singled out Amazon.com Inc for not paying federal taxes during his address in Pittsburgh, Pennsylvania, as he spoke about raising the burden of taxes on multinational companies and hiking the corporate tax rate.
 
Biden’s infrastructure plan unveiled earlier in the day increases the corporate tax rate to 28 per cent from 21 per cent and changes the tax code to close loopholes that allow companies to move profits overseas, according to a 25-page briefing paper released by the White House.
 
Biden said Amazon was one of 91 Fortune 500 companies that “use various