Why the Postal Service doesn't need Amazon

Why the Postal Service doesn't need Amazon

Why the Postal Service doesn't need Amazon

But what measures can he actually take against the online retail giant?

Amazon does in fact collect sales tax on its direct sales in every state that has one, but it may not be collecting local, municipal sales taxes. Notably, packages and shipping are areas of growth for the Postal Service that have offset its general shortfalls in revenue.

The Postal Service has been hemorrhaging cash for years. But he also said, "We're not laying out specific policies".

The Postal Service saw a net loss of $2.7 billion in fiscal 2017, driven by factors such as declining flat-mail volume and pension and health benefit liabilities.

The other prong to Trump's criticism concerns the U.S. Postal Service.

Donald Trump has made a habit of lashing out at Amazon throughout his campaign and presidency.

Those losses can not be attributed to Amazon shipments alone, however, and the president's Twitter posts have lacked context.

Amazon declined to comment on the tweet.

In a 2017 statement, Amazon said that its partnership with the Postal Service was "reviewed annually by the Postal Regulatory Commission", which found its contracts to be profitable.

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Some retail competitors believe the third-party vendor policy gives the retail giant an unfair advantage, which may very well be true - Amazon reported a provisional tax expense of roughly $200m in USA state taxes a year ago, pennies against their $177.9B annual sales.

But with that network in its early stages, it's a paying customer of the post office. The President took to Twitter in an effort to articulate his anti-Amazon position after an Axios report published Wednesday, March 28, 2018, suggested that the President "hates" and "is obsessed with" the online-and, recently, on-ground-retailer and its CEO Jeff Bezos.

And for all the hipster antitrust talk of Amazon as a unsafe monopoly, it was only responsible previous year for 4% of total U.S. retail sales (though that is an impressive number). "Unlike others, they pay little or no taxes to state & local governments", Trump wrote on Twitter, "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!" In other states, Amazon doesn't require but offers to collect sales taxes for third-party vendors.

"If Mr. Trump's point was that Amazon did not collect sales taxes - which are owed by the purchaser and collected by the retailer - it is true that the company once avoided doing so".

The president latest attack said, in full: "I have stated my concerns with Amazon long before the Election". The online retail giant clearly leverages many tools to keep the tax man at bay.

Treasury Secretary Steven Mnuchin has said that the White House favours an internet sales tax.

"If there is a law that regulates how you tax third-party sellers, it's going to apply to everyone and Amazon's position will remain the same", said Steve Chiavarone, a portfolio manager at Federated Investors. "But he doesn't have a plan to make that happen", Axios said.

Trump's criticism also comes as Amazon looks for a location for its second headquarters, asking cities and states around the country to pitch tax incentives as bait for its promised 50,000 jobs and $5 billion in investment.

Indeed, local communities in Canada and the USA - including Toronto - are "falling over themselves", as De Silva put it, to woo Amazon to move its new headquarters to their city "because of the jobs and the economic impact" it would bring. Amazon founder Bezos also owns the Washington Post, one of the newspapers that has been most critical of his administration's moves.

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