Abril 20, 2018

The President Is Hitting Amazon With Some Claims That Are Flat Wrong

05 Abril 2018, 12:25 | Dolorita Barahona

Read time 2min 20sec Amazon's logistics office in northern France

Amazon's logistics office in northern France

US President Donald Trump took a new swipe at Amazon on Thursday, claiming the tech giant fails to pay its share of taxes and takes advantage of the US Postal Service.

The president took issue with Amazon's tax treatment, use of the US Postal Service, and negative effects on other retailers.

Late past 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.

Reports that Trump wanted to "go after" Amazon surfaced on Wednesday, and helped drag the company's shares down by more than 4 percent by that day's close of trading.

In addition, Trump also went after the company's CEO, Jeff Bezos, and his ownership of The Washington Post. In one tweet last summer, he asked "Is Fake News Washington Post being used as a lobbyist weapon?" A few of the states where Amazon has no physical presence like South Dakota are seeking to change the law to require online retailers without stores or other facilities within their borders to collect sales tax payments from residents. Post says the U.S. could pressure Amazon several ways, including: making all third-party sellers collect sales tax, regulating Amazon's third-party seller commission structure, and even raising U.S. Postal Service shipping fees.

In addition, although his initial views over Amazon's dominance may stem from his business friends and colleagues, he spins it in a way suggesting he's looking out for all the USA small business owners.

Trump kept up the attack Thursday and appears to have inaccurate information about the way Amazon runs its business.

"He's obsessed with Amazon", a source told Axios.

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.

In 2015, Trump said that Amazon would tank if it ever had to pay "fair" taxes. "Towns, cities, and states throughout the US are being hurt - many jobs being lost!", Trump had tweeted at that time.

States can not collect taxes from mail order or online sales from firms without a physical presence in that state, according to a Supreme Court ruling in 1992. "Like other businesses, Amazon pays taxes on corporate income, property, payroll and unemployment insurance", the review read.

The previous day, USA media reported that Trump is considering tightening tax treatment of Amazon.

Another source called the president's view of Amazon's relationship with the US Postal Service "inaccurate". However, items sold by third-party vendors may have different arrangements for how they distribute their goods.

Bezos and Amazon have lost millions of dollars since the report Tuesday.

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