Amazon CEO Jeff Bezos speaks throughout the UN Local weather Change Convention (COP26) in Glasgow, Scotland, Britain, November 2, 2021.
Paul Ellis | Reuters
Amazon founder Jeff Bezos took goal at President Joe Biden on Friday over a tweet that stated inflation might be introduced down by taxing rich firms.
Biden tweeted earlier within the day: “You wish to carry down inflation? Let’s make sure that the wealthiest firms pay their fair proportion.”
Bezos, whose firm has benefited from tax credit and deductions, quoted the tweet to retort: ”The newly created Disinformation Board ought to assessment this tweet, or perhaps they should type a brand new Non Sequitur Board as a substitute,” the previous CEO stated, apparently referring to the Division of Homeland Safety’s Disinformation Governance Board. “Elevating corp taxes is ok to debate. Taming inflation is essential to debate. Mushing them collectively is simply misdirection.”
Whereas he did not name out Amazon particularly in that tweet, Biden has beforehand criticized the corporate’s tax historical past. Amazon paid no federal earnings taxes in 2017 and 2018.
The Twitter spat comes as inflation reaches ranges not seen in many years, affecting the price of important items like gasoline, meals and housing. Federal Reserve officers have responded to the issue with two rate of interest hikes thus far this 12 months. They’ve pledged extra till inflation comes right down to the central financial institution’s 2% aim.
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