Amazon shares fall after report Trump wants to curb its power
02 April, 2018, 11:22 | Author: Franklin Nunez
I have stated my concerns with Amazon long before the Election.
President Trump again took aim at Amazon, blasting it for hurting retailers as well as the U.S. Postal Service.
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.
In its latest annual report, the U.S. Postal Service credits "e-commerce growth" with its package delivery service bringing in $19.5 billion in revenue previous year, far more than expected. Today, Amazon does pay in all states that have sales taxes. A report released March 26 by the left-leaning Institute on Taxation and Economic Policy said Amazon either doesn't collect and remit local sales tax or is charging a lower sales tax rate than traditional retailers in seven states: Alabama, Alaska, Idaho, Iowa, Mississippi, New Mexico, and Pennsylvania. But he also said, "We're not laying out specific policies". There is an argument that the rise of Amazon has actually benefitted the postal service. In 2013, it reported a net loss of $4.98 billion, according the USPS annual report.
"And as a result, companies like Amazon can buy and sell good without having to pay basic retail taxes that your stores and your convenience stores and all the folks around, when you walk out of the studio over there and grab something, you have to pay".
The retailer and cloud computing pioneer is the latest company Trump has singled out for praise or condemnation, although the effect on stock prices of his targets is generally short-lived. Amazon does not have to collect taxes on third-party sellers using its Marketplace service.
It's true that traditional, high street retailers are suffering in the age of online shopping, but Amazon alone can not be blamed for this.
While the Postal Service has lost money for more than a decade, it swung to a profit this year largely because online shopping has led to growth in its package-delivery business.
According to the Axios story, Trump doesn't believe Amazon pays its fair share of sales tax.
Trump is no fan of Amazon, and he often broadcasts this on Twitter. But is Amazon paying little or no taxes to states and local governments?
SpaceX Plans Morning Satellite Launch From Vandenberg AFB
This is a protective metal shield used to cover the cargo as the rocket is en route to space and blasts through the atmosphere. The company attempted such a recovery during a February launch, but the fairing missed the net by "a few hundred meters".
Trump does not have any new policies planned that would affect Amazon, a White House official said on Thursday, adding that Trump was prompted to speak out on the subject in reaction to news reports this week.
Sources say Amazon had cut ties from the lobbying firms last Friday and in their place hired Paul Brathwaite of Federal Street Strategies LLC and Josh Holly of Holly Strategies Inc, both of whom have previously worked as outside lobbyists for Airbnb Inc and Oracle.
"During the previous five years, Amazon reported USA profits of $8.2 billion and paid an effective federal income tax rate of just 11.4 percent", wrote Matthew Gardner, an ITEP senior fellow.
To comply with federal law, the Postal Service in 2017 had to generate at least $1.6 billion in income from its "competitive nonpostal services", which includes Amazon package deliveries.
Amazon is not involved in the case but the eventual ruling could have consequences for the online retailing behemoth and other e-commerce businesses.
Love letters, dirty photos sent to Parkland gunman
In an a letter stuffed inside an envelope covered in hand-drawn hearts and smiley faces, a teenager wrote, "I'm 18-years-old". She also noted, "I'm really skinny and have 34C sized breasts". "Everyone now and then gets a few, but nothing like this".
White House Deputy Press Secretary Raj Shah denied on Thursday that Trump's criticism was a personal grudge. He's criticized the company for skirting taxes, slammed its CEO Jeff Bezos for using the newspaper he owns to push Amazon's agenda, and occasionally accused Amazon of taking advantage of the U.S. Postal Service.
The squad flew out after the Pakistan Super League final last Sunday in Karachi was staged without a hitch. Geoff Allardice, general manager of cricket's world governing body, the ICC, is also expected to attend.
While we wait for the Windows 10 Spring Creators Update next month, Microsoft is moving forward with Redstone 5 with Build 17634 . Foley further says Panos Panay will get a Chief Product Officer title but otherwise remains the head of Microsoft devices .
Parkland student activist David Hogg has had more than his 15 minutes of fame, and his time may be running out. Hogg said on CNN that it's "disturbing" that Ingraham has not been held accountable for her past comments.
The amount is the fourth largest jackpot in Mega Millions' history, with the record set in 2012 at 656 million dollars. The recipient could choose the $521 million annuity payment option, doled out over the course of 29 years.
The network has been hyping up the new season for awhile now, but they're being mysterious and secretive , as one would suspect. At the end, Bernarnold voices what we've all be thinking throughout the trailer: " You frighten me sometimes, Dolores ".
Surveillance footage shows Sterling pushing back against the two officers when they appear and attempt to pin him against a auto . The officers pant, curse, and yell, "Get on the ground!" As the men are on the ground, someone yells "he's got a gun".
George's Chapel on the Windsor Castle estate, in a ceremony of 600 guests followed by a procession through the town. The horse-drawn carriage will also pass High Street through Windsor Town before returning to the castle.
The updated sitcom starring Barr and her original co-stars returned more than two decades after the first one ended its hit run. The source described ABC's view of the ratings victory, citing many other reasons why the reboot clicked: "Wickedly amusing ".
The couple will also invite 100 students from two local schools in Windsor that have a strong affiliation with Windsor Castle . They also claimed that Princess Diana was also present at Prince William and Kate Middleton's wedding in 2011.
Lawmakers are increasingly focused on their re-elections this fall in what is set to be a hard campaign cycle for Republicans. Japanese Prime Minister Shinzo Abe, a close ally of the president, is anxious about a less than ideal outcome.
Bodies of 38 Indians to be brought from Iraq on Monday
The Punjab government has deputed Local Bodies minister Navjot Sidhu to receive the mortal remains at the airport. Of the 38 Indians, 27 were from Punjab, four from Himachal Pradesh, six from Bihar and two from West Bengal.
Three Facebook users sue over collection of call, text history
If you want to see everything Facebook knows about you, just go to the upper right hand corner and scroll down to settings . However, the good news is that Facebook gives users the option to see most of the information that's been collected so far.
UN calls for probe into deaths in Gaza border protest
Ramadan, the Muslim holy fasting month that often sees a surge in Palestinian attacks, also is anticipated to begin May 15. On 14 May, Israel will mark its 70th anniversary and the U.S. is scheduled to open its embassy in Jerusalem.