Donald Trump is going after Amazon and Jeff Bezos, again

Mar 30, 2018, 00:40
Donald Trump is going after Amazon and Jeff Bezos, again

He said: "A lot of people have made this, with respect to Amazon, about personalities and the CEO at Amazon - we're talking about Jeff Bezos here".

The report, published by Axios, said the president has considered going after Amazon "with antitrust or competition law", and that his friends in real estate have vented to him about Amazon hurting their business.

Before Wednesday's drop, Amazon's shares had soared more than 70% over the prior 12 months, a surge that more reflects Amazon's future growth prospects than its current size and earnings ability. Amazon closed Wednesday afternoon at $1,431 per share and by the time it opened Thursday, after the president's tweet, it was selling at $1,406. Also, VP Shelley Reynolds sold 544 shares of the business's stock in a transaction dated Thursday, February 15th. LVWD's SI was 2,300 shares in March as released by FINRA.

According to one think tank, Amazon owed no federal income taxes in 2017 in part due to credits from a Trump-endorsed fiscal overhaul passed by Congress. Facebook's stock has plummeted about 20% since February 1.

President Trump took aim at Amazon yet again.

President Donald Trump tweeted Thursday that Amazon was causing "tremendous loss" to the Post Office.

It is clearly true that consumers' shift to e-commerce companies like Amazon has forced many traditional retailers to close stores. Amazon does not hold a stake in the Washington Post.

Shah reiterated that Trump was not making specific policy changes.

The White House told reporters on Thursday that the president now does not have a plan to make changes as it comes to Amazon, but is consistently attempting to find ways to "level the playing field" for businesses in the US.

"I have stated my concerns with Amazon long before the Election", Trump tweeted.

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The president has always been vocal with his disapproval of Amazon.

And today Trump admitted in a tweet his concerns over the internet retail giant and its impact on traditional retail businesses.

Amazon is known to collect and remit taxes in every required jurisdiction.

The Trump administration has urged the U.S. Supreme Court to let state and local governments collect billions of dollars in sales taxes from online retailers. Last year, the postal service reported profits of $7 billion and $20.7 billion in revenue.

Rep. Kristi Noem, a South Dakota Republican, has called for legislation requiring online retailers to collect sales tax. Olsavsky Brian T also sold $3.42 million worth of Amazon.com, Inc.

In the past Amazon has been criticised for attempting to skirt state sales taxes, but since April a year ago it has voluntarily collected state sales tax on items it sells direct to customers in all 45 states that have one.

Late previous year, Trump said the relationship between the United States Postal Service and Amazon was unfair, arguing that the agency "should be charging MUCH MORE" to deliver packages for the online business. "Should be charging MUCH MORE!"

Legally pursuing Amazon could affect more than its share price, which was largely steady after Trump's tweet.

"Amazon would just pass the majority of the taxes on to its customers, so it's just a wealth transfer from millions of consumers, to a small number of shop owners (including Walmart)".

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