Amazon CEO Jeff Bezos speaks in the course of the United Nations Local weather Change Convention (COP26) in Glasgow, Scotland, Britain on November 2, 2021.
Paul Ellis | Reuters
Amazon founder Jeff Bezos took intention at President Joe Biden in a tweet on Friday, saying that taxing rich firms might scale back inflation.
Biden tweeted earlier within the day: “You need to beat inflation? Let’s be sure that the wealthiest firms pay their justifiable share.”
Bezos, whose firm has benefited from tax credit and deductions, cited the tweet as saying: “The newly created Disinformation Board ought to evaluate this tweet, or perhaps they need to as an alternative create a brand new non-sequitur board.” have to be,” the previous CEO stated, referring bluntly. to the Division of Homeland Safety’s Disinformation Governance Board. “It is okay to debate elevating corp taxes. Controlling inflation is necessary for the dialogue. Placing them collectively is simply the unsuitable path.”
Though he did not particularly name out Amazon 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 many years, affecting the price of important items reminiscent of gasoline, meals and housing. Federal Reserve officers have responded to the issue with two rate of interest hikes to this point this 12 months. He has pledged extra till inflation comes all the way down to the central financial institution’s 2% goal.
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