Trump Praises Supreme Court Tax Ruling Decision
Donald Trump, the U.S. President, recently praised the decision of Supreme Court related to the online sales tax on Thursday. However, analysts proclaimed that the judgment may have only an insignificant impact on his frequent target Amazon.
Trump tweeted after the declaration that handed a victory to states looking for a new revenue flow from online retailers. He tweeted as “Big Supreme Court win on internet sales tax – about time” Further, he added to his tweet as a “Big victory for fairness and for our country. Great victory for consumers and retailers.”
The President’s tweets repeated his past allegations that the rise of Amazon as one of the biggest retailers in the nation is harming local governments as well as traditional retailers.
In August 2018, Trump tweeted that Amazon is damaging to tax-paying retailers to a great extent. He added that towns, cities, and states throughout the U.S. are being hurt and there has been a great loss in many jobs. Thursday’s 5–4 ruling will let states to collect sales tax from online retailers who are not having any physical presence in the state. This judgment has eliminated an ambiguity that helped the Internet shopping swell to a major force in the U.S. economy. However, it has carried complains from brick-and-mortar retailers.
Amazon’s stock price was down 1.1% on Thursday as traders responded to the decision of Supreme Court. However, the financial analysts assert that Amazon may not feel much impact of the same.
On a related note, reportedly, a group of employees from Amazon is forcing the company leadership to prevent the sales of its facial recognition software to law enforcement. The group is also demanding to stop offering the services to organizations who work with the Immigration and Customs Enforcement (ICE).