Trump lashes out at Amazon for paying "little or no" tax

Trump lashes out at Amazon for paying

The president is said to be "obsessed with Amazon", who he believes has gotten unfair tax benefits and preferential treatment from the US Postal Service. A ruling in South Dakota's favour could begin to redress the advantages retailers like Amazon have over bricks-and-mortar businesses.

"Not only do Amazon packages cover their own costs", a source involved with the partnership told Benzinga, "but they help keep the overall service alive". Last year, revenue from package deliveries increased $2.1 billion (12% year-on-year) which is seemingly the only area of the postal service which is successful.

This would be good for Amazon's business, but raises the question of how much information we turn over to tech companies in the name of convenience.

Amazon has not responded to Trump's tweet.

Amazon's stock has tumbled 9.2% amid a three-session losing streak, weighed by President Trump's criticism of the company. But those stores had plenty of competitive problems that went far beyond the growth of Amazon, including big box stores like Walmart. There's no mention of a possible integration with Amazon Prime, but it's more than likely that an Amazon banking service could be included in the retailer's popular subscription service.

Daniel Ives, chief strategy officer & head of technology research for GBH Insights.

But Trump hasn't always been upset with Amazon.

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After a long runup over the past year, Amazon's stock has hit a rough patch, declining almost 10% over the past week to its current level of about $1,400 a share. USPS declined to comment on Mr Trump's tweet.

"I have stated my concerns with Amazon long before the Election", said the President.

The company confirms that they collect taxes on products sold within the 45 states that implement a standard sales tax. Generally, no taxes are collected on those, an issue that might be straightened out in the Supreme Court this year.

There has been talk in Washington of taxing online commerce more. "Right now there is no Internet sales tax", Shah said. Amazon could cash in on its idea as it would not require youngsters to pay these fees in order to shop online.

Shares of Amazon.com dropped slightly on Thursday after ending the previous trading session down 4.4% following Axios's news.

Trump's dislike of Amazon is well-documented, as he tweeted about the company and its CEO Jeff Bezos back in 2015.

"Amazon is doing great damage to tax-paying retailers". He has accused the company of not paying enough taxes before, and in December tweeted that the US post office should charge Amazon more for delivering packages.