Trump tax cut making Jeff Bezos even richer than he already was

I know. Of course not, sillies. The tech sector hates Trump almost as much as the media hates him, and a guy like Bezos who's knee-deep in both isn't going to risk his glamour status by acknowledging that the tax cut is having anything to do with the heightened success of his signature property. But he doesn't need to acknowledge it, although it would be the decent thing to do. The facts speak for themselves:

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Amazon.com Inc on Thursday reported a profit near $2 billion, the largest in its history, as the online retailer drew millions of new customers to its Prime fast-shipping club for the holiday season and as changes to U.S. tax law added to its bottom line. Signs mark the Amazon Fulfillment facility in Everett, Massachusetts, U.S., February 1, 2018. REUTERS/Brian Snyder Shares rose more than 6.4 percent in extended trading, after previously closing down 4 percent on the Nasdaq. Seattle-based Amazon is using fast shipping, television shows exclusive to its website and forays into new technology, such as its voice-controlled Alexa devices, to win and keep high-spending Prime members. Its $13.7 billion acquisition of Whole Foods Market last year is helping it capture shoppers’ grocery sales, too. The world's largest online retailer said net income more than doubled to $1.86 billion, or $3.75 per share in the fourth quarter ended Dec. 31. Its profit received a provisional $789 million boost from the U.S. Republican tax bill passed in December. Analysts on average were expecting just $1.85 per share, according to Thomson Reuters I/B/E/S.

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I couldn't be happier that Amazon is riding high and that it's adding to its considerable cash reserves. It will likely use the resources to improve delivery options, upgrade its web technology and improve overall service to customers. It might be able to expand into new areas, hire more people and pay higher wages - or produce better value for shareholders. This is all good. Lots of people are better off when it happens. I'm less enamored with Amazon's absurd re-enactment of The Bachelor as it demands cities try to win its affections so they can become the site of its second headquarters. I'm kind of glad Detroit got eliminated in the first cut because now we won't waste any more time trying to kiss Amazon's ass. But that's another story. The primary objective of good economic policy is not political success for those who implement it. It's prosperity for people. Politicians serve the public, not the other way around, so if companies everywhere enjoy the rewards of the tax cut and don't credit President Trump or congressional Republicans, that's fine. They should just keep running their businesses successfully and we'll all be better off as a result. As for the U.S. news media, on the other hand, is supposed to report honestly on the effects of these policies. I guess in this case we have to give Reuters credit for mentioning the connection between the two. Eventually people are going to notice the impact on their own paychecks, but I suspect some won't take that long to realize they weren't told the truth about tax reform when it was winding its way to approval.

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