- President Joe Biden tweeted that taxing rich companies might assist deliver down inflation.
- Amazon’s Jeff Bezos mentioned “mushing together” inflation and elevating company taxes was “misdirection.”
- Inflation within the US has reached its highest ranges for the reason that Eighties.
Amazon Executive Chairman Jeff Bezos went after President Joe Biden on Friday over the latter’s tweet about bringing down inflation by taxing massive companies.
“You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share,” Biden mentioned in a tweet Friday night.
The Amazon billionaire retweeted the president and advised the tweet may very well be thought-about disinformation.
“The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead,” Bezos mentioned, apparently referring to Homeland Security’s just lately introduced Disinformation Governance Board.
“Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection,” Bezos continued.
—Jeff Bezos (@JeffBezos) May 14, 2022
Inflation within the US has reached its highest ranges for the reason that Eighties, affecting the worth of important items like gasoline, meals, healthcare, and housing. In April the speed of inflation slowed for the primary time in eight months.
As Insider beforehand reported, a few of the most typical causes of inflation are extra demand for items and companies, rising prices of wages and supplies, forex devaluation, and insurance policies and laws.
Amazon, the corporate Bezos based, has lengthy been accused of not paying its share honest of taxes. The firm paid no federal revenue taxes in 2017 and 2018.
The White House didn’t instantly reply to Insider’s request for remark.