Donald Trump isnt the only one who has issues with Amazon The former CEO of Walmart has criticized the eCommerce giant and even suggested Congress look into splitting it up Theyre not making money in retail and theyre putting retailers out of business Bill Simon told CNBC pointing out that Amazon has operated its retail segment at a loss for decades and subsidizes it with profits from other areas Its anti-competitive its predatory and its not right said Simon Its not going to hurt the big ones Walmart can adjust Itll be there Costco will continue to thrive Itll hurt small retailers and itll hurt specialty chains You see whats happened to Toys R Us and department stores JC Penney is in trouble Thats because Amazon sells below cost and continues to do that added Simon who serves on the board of directors for Darden Restaurants Its destroying jobs and its destroying value in the sector Simons statements came after President Trump criticized Amazon in a Twitter post writing that Unlike others they pay little or no taxes to state local governments use our Postal System as their Delivery Boy causing tremendous loss to the US and are putting many thousands of retailers out of business While a 1992 Supreme Court ruling said states couldnt collect sales taxes from mail-order catalog companies unless the businesses had a physical presence in a state people like Gerald Storch call it an antiquated decision It came down to a Supreme Court decision that came down three years before Jeff Bezos shipped his first book Storch former vice chairman of Target told CNBC If you read that Supreme Court decision it was based on all kinds of things that simply dont apply anymore said Storch who worked with Amazon in 2001 At that point eCommerce was nothing it was zero Now its taken over the whole economy He added that half of all online product searches begin and end on Amazon Amazon is a lot more powerful than people realize said Storch You Might Also Like Related Items Amazon Bill Simon Congress Costco News Retail walmart Whats Hot