Trump targets Amazon over taxes

02 April, 2018, 11:26 | Author: Sheri Evans
  • Trump targets Amazon over taxes

Trump this week retweeted videos by far-right British politician Jayda Fraser that purported to show Muslims performing violent acts.

In his tweet on Thursday, the President said that unlike others, Amazon paid "little or no taxes" to state and local governments, and that it was "putting many thousands of retailers out of business".

"I have stated my concerns with Amazon long before the Election", Trump wrote in a single tweet with liberal capitalization. Trump tweeted early on Thursday. But Amazon's share price dropped sharply at one point.

Amazon did not immediately respond to PCMag's request for comment. "Towns, cities, and states throughout the US are being hurt - many jobs being lost!", Trump had tweeted at that time.

"He's obsessed with Amazon", a source said.

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"Trump's ire towards Amazon is significantly less concerning"; it'd be "difficult for the current administration to materially change the landscape for Amazon". "And that puts brick-and-mortar retail stores at a disadvantage".

Amazon past year announced plans to open a second headquarters as a companion to its home in Seattle, Washington, setting off a frenzied competition by states and cities offering tax breaks to the tech giant.

An Axios report emerged Wednesday of Trump's "obsession" with Amazon.com, Inc.

Meanwhile, Amazon collects taxes from its customers in 45 states, but it is the company's third-party sellers from which states do not collect taxes. If the third-party seller is based in another state, Amazon does not collect state taxes - except in two states: Washington and Pennsylvania(CNBC).

Amazon has pushed to have Congress require all online retailers abide by the same state sales tax. "And that's about half of their sales", he said.

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Trump's latest assault on Amazon blamed the company for forcing other retailers out of business.

But in January, the top court announced it would consider taxes from online sales and is expected to issue a ruling before the end of the year.

Investors largely waved off concerns about that on Thursday.

"Amazon is getting away with murder, tax-wise".

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.

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