Would President Biden Raise Taxes on Amazon.com?

In the midst of a global pandemic, online retail giant Amazon.com (NASDAQ: AMZN) has been deemed an essential service, providing medical gear, cleaning supplies, and shelf-stable food to a country under quarantine. This has been good for Amazon's business, but now presidential candidate and presumptive Democratic nominee Joe Biden wants to make sure Amazon is paying all the taxes it owes on all the new business it is getting.

Biden tore into Amazon in an interview on CNBC this morning, saying: "I don't think any company, I don't give a damn how big they are, the Lord almighty, should absolutely be in a position where they pay no tax and make billions and billions and billions of dollars." It's time, says the former vice president, for Amazon.com to "start paying their taxes."

Former Vice President Joe Biden listens to Former President Barack Obama during a meeting. Image source: Official White House Photo by Pete Souza.