We all know that President Trump doesn’t like Amazon. Time and again, he launches attack on the retail giant. This time, the matter is a bit escalated, as Trump has complained not about 1 or 2 but 3 things about Amazon.
The Present accused the e-commerce giant of not paying taxes, using U.S postal services as delivery boy and causing huge losses for thousands of retailers.
Trump slammed Jeff Bezos on Twitter, after which he lost $10.7 billion. Yes, just 1 tweet of Trump caused massive losses for Amazon.
This is what the US President tweeted;
I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!
— Donald J. Trump (@realDonaldTrump) March 29, 2018
The tweet read,
“I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!”
Since this tweet, Amazon shares dropped 9 percent and Bezos, the richest man in the world, lost $10.7 billion.
Trump stressed on the fact that Amazon is doing enough damage to retailers who pay taxes. The president doesn’t even like Bezos’ ownership of Washington Post.
If you don’t know what tax he is talking about, let us explain. Basically, there is no internet sales tax, which is why Amazon can easily sell as well as buy without paying those retail taxes that other stores need to pay.
Do you agree with Trump here?