Amazon’s Bezos has criticized Biden for his tweet of inflation

Amazon CEO Jeff Bezos speaks at the United Nations Climate Change Conference (COP26) on November 2, 2021 in Glasgow, Scotland, UK.

Paul Ellis | Reuters

Amazon founder Jeff Bezos tweeted Friday to President Joe Biden, saying that taxing rich corporations could reduce inflation.

Earlier in the day, Biden tweeted: “Do you want to reduce inflation? Let’s make sure rich corporations pay their fair share.”

Bezos, whose company has benefited from tax credits and deductions, quoted the tweet in response: “The newly formed disinformation board should review this tweet, or form a new non-securities board instead,” the former CEO explicitly stated. . To the Homeland Security Department of Disinformation Governance Board. “It’s okay to talk about raising corporate taxes. Controlling inflation is important for negotiations. Combining these is just the wrong direction.”

Although he did not specifically call Amazon in that tweet, Biden has previously criticized the company’s tax history. Amazon paid no federal income tax in 2017 and 2018.

The spot on Twitter comes at a time when inflation has reached unprecedented levels, affecting the prices of essential commodities such as gas, food and housing. Federal Reserve officials have responded to the problem with two interest rate hikes so far this year. They have made further promises until inflation reaches the central bank’s 2% target.

Subscribe to CNBC on YouTube.

Leave a Reply

Your email address will not be published.