Amazon’s Bezos criticizes Biden over inflation tweet

Amazon's Bezos criticizes Biden over inflation tweet

Amazon CEO Jeff Bezos speaks all through the UN Climate Adjust Convention (COP26) in Glasgow, Scotland, Britain, November 2, 2021.

Paul Ellis | Reuters

Amazon founder Jeff Bezos took aim at President Joe Biden on Friday in excess of a tweet that claimed inflation could be introduced down by taxing wealthy firms.

Biden earlier in the day tweeted: “You want to deliver down inflation? Let’s make certain the wealthiest companies pay their honest share.”

Bezos, whose corporation has benefited from tax credits and deductions, quoted the tweet to retort: “The newly created Disinformation Board need to overview this tweet, or probably they want to kind a new Non Sequitur Board as a substitute,” the former CEO stated, seemingly referring to the Division of Homeland Security’s Disinformation Governance Board. “Elevating corp taxes is fantastic to discuss. Taming inflation is critical to focus on. Mushing them with each other is just misdirection.”

Though he did not call out Amazon especially in that tweet, Biden has formerly criticized the company’s tax record. Amazon compensated no federal revenue taxes in 2017 and 2018.

The Twitter spat will come as inflation reaches ranges not found in decades, influencing the price tag of vital products like gas, food and housing. Federal Reserve officers have responded to the problem with two interest price hikes so significantly this 12 months. They’ve pledged extra till inflation arrives down to the central bank’s 2% aim.

Subscribe to CNBC on YouTube.

Source connection


Please enter your comment!
Please enter your name here