Amazon’s Bezos criticizes Biden over inflation tweet

Amazon founder Jeff Bezos took intention at President Joe Biden on Friday over a tweet that stated inflation may very well be introduced down by taxing rich firms.

Biden earlier within the day tweeted: "You want to bring down inflation? Let's make sure the wealthiest corporations pay their fair share."

Bezos, whose firm has benefited from tax credit and deductions, quoted the tweet to retort: "The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead," the previous CEO stated, apparently referring to the Department of Homeland Security's Disinformation Governance Board. "Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection."

While he didn't name out Amazon particularly in that tweet, Biden has beforehand criticized the corporate's tax historical past. Amazon paid no federal earnings taxes in 2017 and 2018.

The Twitter spat comes as inflation reaches ranges not seen in a long time, affecting the price of important items like fuel, meals and housing. Federal Reserve officers have responded to the issue with two rate of interest hikes up to now this yr. They've pledged extra till inflation comes right down to the central financial institution's 2% purpose.

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