Amazon CEO Jeff Bezos speaks for the duration of the UN Local weather Transform Conference (COP26) in Glasgow, Scotland, Britain, November 2, 2021.
Paul Ellis | Reuters
Amazon founder Jeff Bezos took goal at President Joe Biden on Friday about a tweet that reported inflation could be brought down by taxing wealthy corporations.
Biden before in the working day tweeted: “You want to provide down inflation? Let’s make confident the wealthiest corporations shell out their reasonable share.”
Bezos, whose firm has benefited from tax credits and deductions, quoted the tweet to retort: “The newly designed Disinformation Board should really evaluation this tweet, or it’s possible they want to variety a new Non Sequitur Board rather,” the previous CEO claimed, evidently referring to the Division of Homeland Security’s Disinformation Governance Board. “Increasing corp taxes is fine to focus on. Taming inflation is critical to focus on. Mushing them jointly is just misdirection.”
Even though he failed to call out Amazon exclusively in that tweet, Biden has earlier criticized the firm’s tax historical past. Amazon compensated no federal income taxes in 2017 and 2018.
The Twitter spat will come as inflation reaches amounts not found in many years, influencing the value of crucial merchandise like gas, foodstuff and housing. Federal Reserve officers have responded to the dilemma with two curiosity fee hikes so considerably this calendar year. They’ve pledged additional right up until inflation comes down to the central bank’s 2% objective.
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