Amazon CEO Jeff Bezos speaks right through the UN Local weather Trade Convention (COP26) in Glasgow, Scotland, Britain, November 2, 2021.
Paul Ellis | Reuters
Amazon founder Jeff Bezos took intention at President Joe Biden on Friday over a tweet that stated inflation may well be introduced down via taxing rich firms.
Biden previous within the day tweeted: “You wish to have to deliver down inflation? Let’s ensure the wealthiest firms pay their fair proportion.”
Bezos, whose corporate has benefited from tax credit and deductions, quoted the tweet to retort: “The newly created Disinformation Board will have to assessment this tweet, or possibly they wish to shape a brand new Non Sequitur Board as an alternative,” the previous CEO stated, it appears regarding the Division of Hometown Safety’s Disinformation Governance Board. “Elevating corp taxes is ok to talk about. Taming inflation is significant to talk about. Mushing them in combination is solely misdirection.”
Whilst he did not name out Amazon particularly in that tweet, Biden has up to now criticized the corporate’s tax historical past. Amazon paid no federal source of revenue taxes in 2017 and 2018.
The Twitter spat comes as inflation reaches ranges now not observed in many years, affecting the price of very important items like gasoline, meals and housing. Federal Reserve officers have spoke back to the issue with two rate of interest hikes thus far this yr. They have pledged extra till inflation comes right down to the central financial institution’s 2% objective.
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