Seattle Councilmember Kshama Sawant responded to a new record $6.3 billion profit margin for Amazon with demands the city raise the taxes on corporations. | By Tedder/Wikimedia Commons
Seattle Councilmember Kshama Sawant responded to a new record $6.3 billion profit margin for Amazon with demands the city raise the taxes on corporations. | By Tedder/Wikimedia Commons
After the most recent profit report from Amazon showed a $6.3 billion quarterly profit, Seattle Councilmember Kshama Sawant (D3) renewed calls for increasing taxes on the corporation rather than cutting the city’s budget.
In a statement released to the city’s website, Sawant said the city has a clear choice between making corporations or working people suffer.
“Today’s Amazon profit report shows the City Council has a clear budget choice: Make sure Amazon and other large corporations pay for this crisis, or make working people suffer more,” Sawant was quoted as saying in the statement.
The $6.3 billion profit margin came from $96.1 billion in revenue for Amazon, according to the statement. The profit margin is a new record from Amazon, which had record profits in the previous quarter that were approximately $1 billion less.
“While Seattle’s working people are struggling to pay rents, mortgages, and put food on the table during the double whammy of the pandemic and the deepest recession since the Great Depression, Amazon and other major Seattle corporations are gloating to Wall Street about record profits, and billionaires are seeing their net worths soar to stratospheric levels,” Sawant was quoted as saying in the statement.
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