Donald Trump Takes Another Shot at Amazon and Jeff Bezos
Apr 05, 2018, 00:24
Trump didn't attack Bezos directly, but he did express his feelings about how he feels Amazon isn't paying its fair share of local and state taxes.
Mr Trump accused Amazon.com Inc of not paying enough tax, taking advantage of the USA postal system and putting small retailers out of business, but did not present any evidence to back up his criticisms or suggest any specific actions he planned to take.
According the Axios story, sources state that the President thinks Amazon got too good a deal from the U.S. postal service and that Jeff Bezos' company is hitting his friends' businesses, too.
The Axios report on Wednesdaysaid Mr Trump had talked of using antitrust law to "go after" the company because he was anxious about small family stores going under.
Trump had previously criticized the WashingtonPost, owned by Amazon CEO Jeff Bezos, for posting fake news. Trump took a jab at Amazon, calling it a "no profit company", and at the Bezos-owned The WashingtonPost, saying it's "losing a fortune".
The e-commerce retailer has been dominating the millennial market, yet Generation Z shoppers are still opting to shop at physical stores over shopping online. Amazon does not hold a stake in the WashingtonPost. The report has sparked a ton of speculation about what that will mean for Amazon moving forward, and Trump only added to that with an early-morning tweet. 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. 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.
Have Amazon shipments financially hurt the U.S. Postal Service?
As predicted in reports this week, President Donald Trump pounced on Amazon Thursday, baselessly claiming that the tech giant takes advantage of the U.S. Postal Service.
Seattle-based Amazon has fought for years against collecting sales tax, but now collects it in states that have a sales tax. But that came after shares fell 4.4% on Wednesday and plunged below their 50-day moving average, where they remained by Thursday's close.
Amazon.com Inc. did not respond to a request for comment. But a sales tax often is not collected on purchases made from third-party sellers that appear on Amazon's website, and critics contend that gives the web platform a price edge over other retailers that are required to collect a sales tax.
In December, he called on the postal service to charge Amazonmore to deliver its packages. According to a new report today, Amazon's bank account plan involves offering a checking account to teenagers.
Trump has always been at odds with Amazon founder Jeff Bezos, a vocal opponent of the Republican candidate in the 2016 election campaign.
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Trump, Amazon and the Post Office
Moreover, Pekin Singer Strauss Asset Mngmt Il has 0.45% invested in Amazon .com, Inc. (NASDAQ: AMZN ) was sold by Zapolsky David . Year-to-date, AMZN has gained 21.68%, versus a -1.13% rise in the benchmark S&P 500 index during the same period. (NYSE:T).