President Trump Just Confirmed the Report He Wants to 'Go After' Amazon
Apr 02, 2018, 00:49
This happened after last year's United States tax reform and against the pressure of President Donald Trump against the company. Do his criticisms ring true?
It wasn't the first time Donald Trump has taken to Twitter to criticise the online retailer.
The Postal Service attributes much of its financial woe to a prolonged decline in the volume of marketing mail and first-class mail - bills, birthday cards and, for example, bridal shower invitations.
That's translated to more packages and package-related revenue, in part thanks to Amazon. Its revenue from shipping and packages in fiscal 2017 was $19.5 billion, up 13% from the previous year. In 2013, it reported a net loss of $4.98 billion, according the USPS annual report. In 2006, Congress mandated that the postal service prepay benefits, a special requirement other agencies do not face. "Singling out favorite Trump villains like Amazon is a distraction from our bipartisan effort".
President Trump responded to the article on Twitter.
Amazon is a great American company, and CEO Jeff Bezos a great American entrepreneur. An Amazon spokesperson said the company does not comment on a seller's behalf while the e-mail sent to Cloudtail CEO Sahay did not elicit any response on this matter.
But with that network in its early stages, it's a paying customer of the post office.
Trump has talked about using antitrust law to "go after" the company because he is anxious about mom-and-pop retailers being put out of business by Amazon, Axios reported, citing five sources it said had discussed the issue with him.
"I have stated my concerns with Amazon long before the Election", tweeted President Trump the day after Axios published their exposé.
For a time, many people selling things on Amazon would set themselves up in states with little or no state income tax, and then declare that all the income they earned in the USA should be taxed as though it was from there, regardless of where the buyer was from. Today, Amazon does pay in all states that have sales taxes.
In the case to be argued on April 17, South Dakota is asking the nine justices to overturn a 1992 Supreme Court ruling that only companies with a physical presence in a state are required to collect the state's sales tax on purchases. One, by not universally collecting sales tax, Amazon and other e-retailers are maintaining an unfair advantage over traditional retailers, according to ITEP. The online retail giant clearly leverages many tools to keep the tax man at bay. Amazon also collects sales tax in the 45 states that require it, but regulatory red tape at a local level dictates the collection of the tax and who it is collected by.
But despite Amazon's seemingly inexorable growth - including its buildup in groceries, entertainment and health care - there's very little the president or the federal government could do under current antitrust practices.
In response to questions about the Axios report, a White House official said no specific policy changes related to Amazon were known, but it was always looking at different options on a range of policy issues.
White House spokesman Raj Shah said in a TV interview Thursday that Trump's tweets are not about Bezos, but that mom-and-pop shops and brick-and-mortar stores are having trouble competing with fast-growing Amazon. "Towns, cities and states throughout the USA are being hurt - many jobs being lost!" Trump has also often criticised stories in The Washington Post, a newspaper owned by Bezos.
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It retaliated on Friday afternoon with plans for more than $4 billion in tariffs on USA pork, aluminium, wine and other products. Forced technology transfer is also a growing concern for US companies, especially tech firms.
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