Treasury Secretary Mnuchin Says Something About Amazon Doesn’t Make Sense
Author By Sophia VidaPosted on According to Treasury Secretary Steven Mnuchin, Amazon not collecting taxes from third-party sellers does not make sense.
He said to CNBC’s “Power Lunch” this week, “Amazon pays sales tax on their own account, but doesn’t pay it on the third-party business. We don’t think that makes sense.”
He further said, “They’ve absolutely dominated the retail business, they’ve put tons of retailers out of business.”
It was last month that President Trump said the e-commerce giant pays “little or no taxes to state & local governments.”
“It’s unfair relative to the [other] retailers,” Mnuchin has said. “That’s money — by the way — that states need for infrastructure and very, very important for the states’ economies.”
“They’ve absolutely dominated the retail business, they’ve put tons of retailers out of business,” Mnuchin exlcaimed. “The president is focused on Amazon and the economic issues that are impacting retailers all around the country.”
gDisclaimer: We have no position in Amazon.com, Inc. (NASDAQ: AMZN) and have not been compensated for this article.
