Trump attacks Washington Post, Amazon, over 'internet taxes'

June 19 at the White House separated by Microsoft CEO Satya Nadella

Donald Trump hates Fake News, except when it hangs on his wall

President Donald Trump proved he's still got the magic touch.

It's true he's used Twitter to attack the Washington Post, owned by Amazon boss Jeff Bezos.

The stock immediately plunged about $8 per share before recovering by the market open. President Trump's fake Time magazine cover was exposed by Washington Post reporter David A. Fahrenthold, and now the embarrassing article that let the world know about the fake 2009 Time magazine cover has led to Time asking the Trump Organization to remove the fake Time covers.

In fact, Amazon doesn't actually own the newspaper.

Trump just abused his presidential power to threaten Amazon with a sales tax that they already collect.

Mr Bezos was one of 20 senior technology executives who met the President at the White House last week to discuss how technology could make government more efficient and create well-paying jobs.

In an interview with Fox News host Sean Hannity past year, Trump accused Bezos of using The Washington Post as a tool for political power.

Cladding found in Irish council building similar to Grenfell Tower
The company advises customers in a brochure that Reynobond PE should not be used on buildings taller than 10 metres, and Grenfell Tower is 60 metres tall.

The question for investors is, would Trump consider going after Amazon in order to get back at the Washington Post and Jeff Bezos? The judge ruled in that case that states couldn't require retailers to collect sales taxes unless they had a physical presence in the same place where the buyer is located.

In the first quarter of 2017, Amazon paid $229 million in income taxes on $953 million in income before taxes and $1.05 billion in operating income.

Internet sales firms such as eBay, Alibaba, Etsy and Amazon had threatened to geoblock Australian customers if the sales tax was rushed through, meaning local consumers could have been barred from online purchases.

One loophole that continues to irk lawmakers is that third-party vendors who sell products on the Amazon platform are not subject to sales tax, although that is expected to change.

"Amazon is getting away with murder tax-wise".

Amazon declined to comment on Trump's tweet. The deal will likely require regulatory approval.

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