Twitter Meltdown: Trump ($3B) Can’t Stand that Bezos ($107B) Is the Better Man.

by Pitt Griffin on April 1, 2018 · 0 comments

in Trump presidency

Donald Trump does not like Amazon. Or more precisely, he doesn’t like Jeff Bezos. And this animus has been going on a while. Back in 2015, Trump tweeted that Amazon was a ‘no profit’ company and Bezos was a cheat – especially for using his ownership of the Washington Post to reduce Amazon’s tax bill.

The @washingtonpost, which loses a fortune, is owned by  @JeffBezosfor purposes of keeping taxes down at his no profit company, @amazon.
The @washingtonpost loses   money (a deduction) and gives owner @JeffBezos power to screw public on low taxation of @Amazon! Big tax shelter
If @amazon ever had to pay fair taxes, its stock would crash and it would crumble like a paper bag. The @washingtonpost scam is saving it!
11:22 AM – Dec 7, 2015

No doubt the Washington Post had driven the thin-skinned bloviator to spit-flecked rage by reporting something accurate — there has been no suit for libel — and so he directed his bile toward a man who is everything he is not. A good family man — with a famously strong marriage. A fortune that makes Trump’s accumulation look like sofa change. And a superb scholastic record —  Bezos won academic awards Trump can’t even spell while graduating Phi Beta Kappa from Princeton with a 4.2 GPA.

But let’s put the personal animus aside and look at the substance of Trump’s tweets.

Actions vs. words.

To begin, whatever the Posts’ financial performance may be it is irrelevant to Amazon. The Post is personally owned by Bezos, while Amazon is a publicly traded company. (Note: The Post is now profitable)

Trump’s Twitter vomitus even fails a logic test. If Amazon is a ‘no profit’ company why would it need tax write-offs?

As for Amazon’s profitability. Trump ignores that Bezos’s strategy was to plow the profits back into the company. An approach the market adored. In the year before Trump’s tweets, Amazon’s stock doubled in value from $307 to $664 per share. And isn’t a no-profit company, with burgeoning sales, and a soaring market valuation better than a no-profit company that went bankrupt — repeatedly.

Trump doubles down by calling the Washinton Post a ‘tax-shelter’. But this comes from a man who says that his ability to avoid paying taxes proves he is ‘smart’.

Lastly, he says that if Amazon had to pay taxes, it would crumple like a paper bag — it’s a hypothetical so anything is possible, but is that the way you would bet?

So now let’s look at today’s offering.

While we are on the subject, it is reported that the U.S. Post Office will lose $1.50 on average for each package it delivers for Amazon. That amounts to Billions of Dollars. The Failing N.Y. Times reports that “the size of the company’s lobbying staff has ballooned,” and that…

…does not include the Fake Washington Post, which is used as a “lobbyist” and should so  REGISTER. If the P.O. “increased its parcel rates, Amazon’s shipping costs would rise by $2.6 Billion.” This Post Office scam must stop. Amazon must pay real costs (and taxes) now!

8:52 AM – 31 Mar 2018

Amazon doesn’t set the Post Office’s prices. Do they negotiate a good deal? Probably. But isn’t that Amazon’s fiduciary responsibility to their shareholders?
As for the hoary meme “the Failing N.T. Times” — the NYT is not failing. Just like the Washington Post, they have absorbed market changes in media delivery and have reinvented themselves as a digital entity. (BTW Trump doesn’t even use a computer).
Trump has no idea what the lobbying rules are in Washington. Individuals, not companies, register as lobbyists — so there is no mechanism nor requirement for a company to do so. The rules are so slack that Newt Gingrich isn’t required to register. So there’s the swamp for you.
As for his repeated jibe that Amazon doesn’t pay taxes, this is a rehash of an old complaint that Amazon didn’t pay sales taxes. It was hardly Amazon’s fault. The law didn’t require them to. It now does in every state that levies them. And besides companies don’t pay sales tax, consumers do. Companies merely collect them.
If he is talking about income tax, Amazon paid an average of 13% in federal, state and local taxes from 2008 to 2015. It won’t pay taxes on income earned in 2017 — but that is in large part due to grandfather clauses built into Trump’s tax 2017 tax cut bill. So Trump is whining about something he created
And to add hypocrisy to the stupidity, it takes chutzpah to flay a company for not paying taxes when you base your economic program on lowering corporate taxes.
But Trump is not presenting a reasoned argument. He is lashing out, whipping his base into a righteous fervor, trampling all over the truth and trying to smash other boys’ toys. It is petty vindictiveness. But in taking on Bezos, he is fighting a man who the best lawyers do want to work for. Especially as he pays his bills.
Fun Fact: this Wednesday, after Trump trash talked Amazon, Bezos lost $10.2 billion – which is more than three times Trump’s net worth. Bezos is OK though; he still has $107 billion under the mattress.

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