Fact check: Trump's claims about Amazon's cost to taxpayers

US President Donald Trump has attacked Amazon and its Chief Executive Jeff Bezos several times in the past

The US president pointed out that Amazon does not pay enough taxes, hurts traders, and receives an unfair advantage at the back of the US Post Office.

The largest online retailer has been a favorite target of Trump since his campaign, with the president blasting the company on Twitter for paying what he says are unfairly low taxes, damaging other retailers, and allegedly getting a sweetheart deal from the U.S. Postal Service, among other complaints.

Cloudtail, appointed a senior Amazon executive Sumit Sahay as its CEO past year, is the most important seller for Amazon in India and the company relies heavily on it to push top selling categories.

The Wall Street Journal also observed that Amazon collects billions of dollars in state sales tax throughout the US and stated that allegations that Amazon may have an unfair competitive advantage are "quarter-baked".

Though it's unclear how much of a boon, if any, Amazon has turned out to be, the postal service is better off today than it was before. In the 2017 fiscal year, the agency reported a net loss of $2.7 billion; the previous three years, it incurred losses of almost twice that amount.

Founded in 1994, Amazon did not begin to charge sales taxes to its customers until around 2011, in a few states.

Given that they follow the same model one would think Donald Trump would have more respect for Amazon but he's clearly not a fan. There have been efforts in Congress to force all e-commerce companies to collect state sales tax, but Amazon already does that.

Amazon has undoubtedly contributed to the closure of many brick-and-mortar stores and the bankruptcy of some chains as more people shop online instead of in malls.

Along with UPS and FedEx, the Postal Service helps deliver packages in the "last mile" of their Amazon journey.

Venus survives marathon battle against Bertens in Miami
Bertens was suffering from cramp in her right arm in the latter stages of the match and appeared to be in tears at one stage. Kerber was made to sweat in her gruelling clash with China's Wang Yafan before prevailing 6-7 (1-7) 7-6 (7-5) 6-3.

And for all the hipster antitrust talk of Amazon as a risky monopoly, it was only responsible past year for 4% of total USA retail sales (though that is an impressive number).

The U.S. Supreme Court is expected to rule later this year on South Dakota v. Wayfair, which could give local and state governments more authority to mandate sales tax collection by online retailers, Davis said.

So let's look at President Trump's criticisms of Amazon.

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. But is Amazon paying little or no taxes to states and local governments?

"With Facebook and regulatory worries, the last thing nervous tech investors wanted to see was news that Trump is targeting Bezos and Amazon over the coming months as this remains a lingering cloud over the stock and heightens the risk profile in the eyes of the Street", GBH Insights analyst Daniel Ives said. Its revenue from shipping and packages in fiscal 2017 was $19.5 billion, up 13 percent from the previous year.

"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.

"Yes, Amazon has put thousands of retailers out of business", said Wedbush Securities analyst Michael Pachter. "So has Starbucks, Barnes & Noble, Kroger and any other superstore that took share from small businesses".

In his tweet, Trump also took aim at the company's use of the postal service is "causing tremendous loss", but that too is misleading. The president would love to clip CEO Jeff Bezos wings.

He has also accused Bezos of using the Washington Post, which Bezos owns separately from his interests in Amazon, as a tool to build political influence and damage him personally. "It's really about policy".

Related News:

  • Omar Mateen's widow found not guilty

    Omar Mateen's widow found not guilty

    During the government's case, jurors watched video of Salman and Mateen standing together as he purchased ammunition and jewelry. GREEN: Well, this trial comes almost two years after this attack that just devastated the community here in Orlando .
    Air India To Be Come 'Majestic Maharaja': Jayant Sinha

    Air India To Be Come 'Majestic Maharaja': Jayant Sinha

    The minister said that a consortium will need to have a net worth of at least Rs 5,000 crore if they want to bid for the airline. Air India's call centre in Delhi received a bomb threat call for their AI-020 Delhi-Kolkata flight, media reports said.

    More cool weather with on and off rain chances

    Not a bad idea to have an umbrella today as some scattered showers, perhaps a few storms, look possible. Moderate showers likely through the afternoon with highs slightly cooler during the afternoon.
  • Malala returns to Pakistan after five years

    Malala returns to Pakistan after five years

    Yousafzai was only 14 when she was shot, but already was well-known for advocating education. Politicians, journalists and celebrities were among those welcoming her back.
    Facebook revamps privacy settings amid data breach outcry

    Facebook revamps privacy settings amid data breach outcry

    These settings were previously spread out across nearly 20 different screens; going forward, they will be accessible from one. For example, users will now be able to look up a post from a specific date in the past.
    Softbank, Saudi Arabia to work on solar power

    Softbank, Saudi Arabia to work on solar power

    The Public Investment Fund (PIF) invested about $54 billion a year ago according to data from the Sovereign Wealth Fund Institute. The agreement deepens SoftBank's ties with the Saudi Arabia, and advances the crown prince's ambition to diversify its economy.
  • MyFitnessPal data hack compromises 150 million user accounts

    MyFitnessPal data hack compromises 150 million user accounts

    An online food and nutrition website and app said they suffered an unauthorised data breach of their users information. The Facebook , Cambridge Analytica data scandal is ongoing, with deepening investigations both sides of the Atlantic.
    Egypt's poll body threatens to fine non-voters

    Egypt's poll body threatens to fine non-voters

    Sisi overthrew Islamist president Mohammed Morsi in 2013 following mass protests against his rule. Some voters said they had received payments and other inducements to cast their ballots.
    VW's Atlas pickup truck concept is real, but don't get too excited

    VW's Atlas pickup truck concept is real, but don't get too excited

    The Cross Sport will be the model which will bridge the gap between the standard three-row seating Atlas and the Tiguan . The all-wheel-drive-mode control behind the shifter even has its own display and LED lighting.
  • Lynn man sentenced to prison for selling fake steroids online

    Lynn man sentenced to prison for selling fake steroids online

    In 2016, a viral video showed her severely injured, lying near a drain in Mutiara Damansara. She used the k-word almost 50 times during a racist tirade after a smash-and-grab incident.
    Uber terminates self-driving cars service

    Uber terminates self-driving cars service

    At the time, though, the governor failed to mention that Uber had been secretly testing such vehicles in the state since August. A vehicle hauler toting three self-driving Volvos from California rolled into the Capitol just days before Christmas 2016.
    Kim Jong-un to meet South Korean President in historic summit

    Kim Jong-un to meet South Korean President in historic summit

    Suga declined to say if a meeting between Prime Minister Shinzo Abe and North Korean leader Kim Jong Un is being discussed. The announcement on Thursday followed preparatory talks in the border village of Panmunjom inside the Demilitarised Zone.


Most liked

Laura Ingraham's advertisers are fleeing; Here's the list
Ingraham apologized in a tweet the following day, citing " the spirit of Holy Week ", and invited Hogg to appear on her show. It's time to love thy neighbor, not mudsling at children.

Travellers, airlines face difficulties as Buhari visits Lagos
This according to the Lagos State government is to facilitate smooth movement of Mr. President and his entourage while in Lagos.

'Like a Dream': Malala Makes an Emotional Visit to Her Pakistani Hometown
Pakistan Army, who ensured safety of Malala , her father and two brothers, facilitated the visit, wrapped around tight security. Security was beefed up in Mingora , Yousafzai's hometown, but authorities wouldn't confirm whether she would be arriving there.

'If Mourinho was made of chocolate he'd eat himself', says Docherty
Speculation only intensified following their recent FA Cup quarter-final win over Brighton & Hove Albion. But Pogba is not getting complacent, adding: "We have the potential, the players to win the World Cup".

Person boys' track ties for win in quad-meet
Georgetown's 4×100 meter relay team (Galley, Logan Doss, Jonathan Strickland, and Mootz) placed third with a time of 50.61. She ran a 12:00.11 in the 3,200-meter run, good for second and placed fourth in the 1,600-meter run, finishing in 5:45.75.

Single lottery ticket sold in New Jersey wins 521 mln United States dollars jackpot
They appear on a single ticket sold at a Lukoil gas station in Riverdale, New Jersey, the New Jersey Lottery said on Twitter . The victor has the choice between a $521 million annuity or a lump sum of $317 million, NJ.com reported.

Why Facebook thinks you know these random people
NFHA's president and CEO Lisa Rice said, " Facebook's use and abuse of user data for discriminatory purposes needs to stop". It's an adolescence every bit as awkward as the one I posted on Facebook for the world to see just a few short years ago.

Russian Sarmat more powerful than 'Satan'
The Sarmat system is "powerful and modern and defense systems will not be able to withstand it", Putin said earlier in March. On Thursday, Russian Foreign Minister Sergey Lavrov said 60 U.S. diplomats would be expelled and the U.S. consulate in St.

Russian Federation 1-3 France: 5 talking points
If United can cement a midfield built around Pogba and make it a success, the Reds have the potential to demolish teams. Pogba has played 27 games for United so far this season, scoring three goals and assisting a further 10 strikes.

Who is Dr. Ronny Jackson, Trump's new pick to head the VA?
Upon Shulkin's release, Trump stated his appreciation for Shulkin's work passing the VA Accountability Act. The advocates within the administration for privatizing VA health services, however, reject this approach.

Bombs disguised as rocks in Yemen reportedly show Iran aid
The top general said the Yemeni nation has come under military aggression, and hence, it is resisting the aggressors. Saudi Arabia and its allies launched the war on Yemen in March 2015.

Disney Star Joins White House Press Team
You might recognize Caroline if you ever watched Zendaya's hit Disney Channel show, Shake It Up , which aired from 2010-2013. White House spokeswoman Lindsay Walters told CNN in a statement, " Caroline Sunshine was a White House intern".

US, S. Korea hammer out amended trade deal
The U.S. will likely try to include such currency deals in its future negotiations with Japan and other trading partners. President Donald Trump, left, welcomes South Korean President Moon Jae-in at the White House on June 30, 2017.

WaPo: Trump Pushes Military To Fund Border Wall
Trump would need support from Congress to sign off on appropriating military related funds for a border wall with Mexico . Trump's proposed mechanism is for the Department of Defense to fund the wall.

LA police say recovered body likely missing model
The body of an aspiring actress and model is believed to have been found in a shallow grave in Northern California . Shabani came from Macedonia and had been in Los Angeles less than two years, according to her friends.