President Trump is Going After Amazon and Jeff Bezos, again
- Author: Zachary Reyes Mar 30, 2018,
Mar 30, 2018, 16:01
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. Even so, per the Times' previous reporting on the matter, Amazon does pay a significant amount in taxes - $416 million back in 2016, for example.
Amazon founder and chairman, Jeff Bezos, also privately owns the Washington Post, which won a Pulitzer Prize a year ago for its investigation of Mr Trump's donations to charities. Erin Sroka, communications director at SEIU Local 6 in Seattle, where Amazon's headquarters are located, says they "don't trust Trump to do well by workers". Amazon shares have still climbed 21% over the past three months while Microsoft's stock has gained 5.1% and the Dow Jones Industrial Average has lost 2.6%.
That took the company's market value down by more than $20bn. They can then add it to an Amazon wallet for online use.
E-commerce mega retailer Amazon.com, Inc. Facebook's stock has plummeted about 20% since February 1.
"I have stated my concerns with Amazon long before the Election", Trump wrote in a single tweet with liberal capitalization.
It's true that a growing number of retail chains have closed stores, scaled back operations or filed for bankruptcy reorganization in recent years, partly due to their inability to keep pace with consumers' shift toward more Internet shopping. A ruling in South Dakota's favour could begin to redress the advantages retailers like Amazon have over bricks-and-mortar businesses.
Because Amazon ships so many packages though the post office, it pays a lower rate than most customers.
White House press secretary Sarah Huckabee Sanders said later on Wednesday that the administration isn't considering any changes in policy directed at the company.
On Thursday, Trump was up early and throwing punches at online behemoth Amazon, which is led by Chief Executive Jeff Bezos, who according to Forbes is worth $112 billion. As a result, he sees Trump's latest tweet as nothing more than a distraction that's been amplified by what's happening to Facebook. The think tank's new study said that while Amazon has been collecting state sales taxes across the US since April 2017, cities are being left out due to their state rules. Only past year, Amazon started collecting sales taxes on products it sells directly to shoppers in states with those taxes.
The Supreme Court will hear arguments on April 17 in South Dakota v. Wayfair, a case that could make online sales taxes required for all purchases.
The issue might be resolved elsewhere in the federal government. Tax reform requires an act of Congress.
Last year, he claimed that Amazon is causing "great damage to tax paying retailers" and that "many jobs" will be impacted in "towns, cities and states throughout the US".