Amazon’s Bezos slams Biden over inflation tweet
Key takeaways:
- On Friday, Amazon founder Jeff Bezos sought Joe Biden over the president’s tweet that said inflation could be carried down by taxing wealthy companies.
- Before the day, Biden tweeted: “You want to get down inflation? Let’s make sure the richest corporations pay their fair claim.”
- Bezos replied: “Raising corp tariffs is good to discuss.
- Taming inflation is necessary to discuss. Mushing them together is just misdirection.”
On Friday, Amazon founder Jeff Bezos sought President Joe Biden over a tweet that stated inflation could be reduced by taxing wealthy companies.
Before the day, Biden tweeted: “You want to get down inflation? Let’s make sure the wealthiest firms pay their fair share.”
Bezos, whose firm has benefited from tax credits and conclusions, quoted the tweet to retort: “The recently created Disinformation Board should check this tweet, or perhaps they ought to create a new Non-Sequitur Board instead,” the ex CEO said, apparently referring to the Department of Homeland Security’s Disinformation Governance Board.
“Raising corp taxes is okay to consult. Taming inflation is necessary to discuss. Mushing them together is just misdirection.”
While he didn’t call out Amazon precisely in that tweet, Biden has once slammed the firm’s tax record. Amazon paid no federal earnings taxes in 2017 and 2018.
The Twitter spat arrives as inflation reaches levels not seen in decades, impacting the expense of essential goods like gas, food, and housing. This year, Federal Reserve officials have reacted to the situation with two interest rate hikes. They’ve committed more till inflation comes down to the central bank’s 2% objective.