Amazon CEO Jeff Bezos speaks throughout the UN Local weather Trade Convention (COP26) in Glasgow, Scotland, Britain, November 2, 2021.
Paul Ellis | Reuters
Amazon founder Jeff Bezos took intention at President Joe Biden on Friday over a tweet that stated inflation might be introduced down through taxing rich firms.
Biden previous within the day tweeted: “You wish to have to carry down inflation? Let’s make certain the wealthiest firms pay their fair proportion.”
Bezos, whose corporate has benefited from tax credit and deductions, quoted the tweet to retort: “The newly created Disinformation Board will have to evaluate this tweet, or possibly they want to shape a brand new Non Sequitur Board as an alternative,” the previous CEO stated, it sounds as if relating to the Division of Fatherland Safety’s Disinformation Governance Board. “Elevating corp taxes is okay to speak about. Taming inflation is important to speak about. Mushing them in combination is solely misdirection.”
Whilst he did not name out Amazon in particular in that tweet, Biden has prior to now criticized the corporate’s tax historical past. Amazon paid no federal source of revenue taxes in 2017 and 2018.
The Twitter spat comes as inflation reaches ranges now not noticed in a long time, affecting the price of crucial items like gasoline, meals and housing. Federal Reserve officers have answered to the issue with two rate of interest hikes to this point this yr. They have pledged extra till inflation comes all the way down to the central financial institution’s 2% objective.
