Trump Falsely Attacks Amazon as 'Not Paying Taxes'
Trump tweeted, “I have stated my concerns with Amazon long before the  Election. Unlike others, they pay little or no taxes to state and 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!” According to SeattleBusinessmag.com, in 2017 Amazon bought Whole Foods for $13.7 billion, announced it was opening a second headquarters, their stock grew nearly 56 percent, and managed to waiver at paying federal taxes however, S&P Global Market Intelligence reported that Amazon paid federal, state, local and foreign taxes totaling 13 percent from 2007 to 2015 under an average tax.
Institute on Taxation and Economic Policy, ITEP, reported, “The online retail giant has built its business model on tax avoidance, and its latest financial filing makes it clear that Amazon continues to be insulated from the nation’s tax system.”
In other words – Amazon pays taxes. So, what is Trump talking about?
Since Trump has convinced himself that the Russia investigation is a hoax driven by partisanship and media ratings, Trump's focus has shifted to Amazon instead of Facebook, the social media giant that came under fire for its connection to scandal laden British firm Cambridge Analytica. Axios' Tech editor, Kim Hart stated, "Trump told Axios last year he doesn't mind Facebook because it helps him reach his audience."
Corporate income tax is the third largest source of federal revenue, and the U.S. imposes a tax on profits of corporations up to a maximum rate of 35 percent according to the Tax Policy Center. Recently CNN reported, 'Stock in Amazon (AMZN), the fourth most valuable company in the world, fell 3 percent Thursday morning.'
Amazon has yet to comment on Trump’s latest criticism.