Trump loads another tweet into the chamber - and fires on Amazon again

02 April, 2018, 11:24 | Author: Gladys Mathis
  • US President Donald Trump has attacked Amazon and its Chief Executive Jeff Bezos several times in the past

There are also calls for e-commerce companies to collect state sales taxes but this is something Amazon already does.

The move came about a week before US President Trump accused the company in a tweet of not paying enough tax, taking advantage of the US postal system and putting small retailers out of business.

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.

Cloudtail, appointed a senior Amazon executive Sumit Sahay as its CEO previous year, is the most important seller for Amazon in India and the company relies heavily on it to push top selling categories.

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.

States could gain anywhere from US$8.5 billion to $13.4 billion in additional revenue if they were allowed to mandate sales tax collection from all remote sellers, including B2B and B2C companies, according to a Government Accountability Office study released last fall.

In a 2017 statement, Amazon said that its partnership with the Postal Service was "reviewed annually by the Postal Regulatory Commission", which found its contracts to be profitable.

The Postal Service saw a net loss of $2.7 billion in fiscal 2017, driven by factors such as declining flat-mail volume and pension and health benefit liabilities.

"The red herring in this story was on state-level taxes", Toronto Region Board of Trade president Jan De Silva told CBC News in an interview".

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Its North American sales came to $106 billion a year ago , suggesting that it collects billions in sales taxes for various states. The president may target the retail giant because he thinks Amazon has gotten a free ride from taxpayers, the Axios report says .

Given that they follow the same model one would think Donald Trump would have more respect for Amazon but he's clearly not a fan. The e-commerce behemoth largely doesn't collect tax on third-party sales facilitated through its marketplace platform, but has agreed to do so in Washington state and Pennsylvania. "And that puts brick-and-mortar retail stores at a disadvantage", Shah said.

As for the Postal Service, it has lost money for years, but online shopping has led to growth in its package-delivery business.

So let's look at President Trump's criticisms of Amazon. Amazon's stock, which is up more than 65 percent in the last 12 months, rose 1 percent to close at $1,447.34 Thursday.

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.

"If there is a law that regulates how you tax third-party sellers, it's going to apply to everyone and Amazon's position will remain the same", said Steve Chiavarone, a portfolio manager at Federated Investors.

It is not clear that Amazon is responsible for the United States Postal Service (USPS) losing money, although Wall Street analysts have estimated it pays USPS roughly half what it would to United Parcel Service Inc UPS.N or FedEx Corp FDX.N to deliver a package. But is Amazon paying little or no taxes to states and local governments? "So has Starbucks, Barnes & Noble, Kroger and any other superstore that took share from small businesses".

White House Deputy Press Secretary Raj Shah denied on Thursday that Trump's criticism was a personal grudge.

The company - or more specifically its CEO Jeff Bezos - is a frequent target of the president.

Amazon is owned by Jeff Bezos, the world's richest man. "It's really about policy".



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