Amazon’s Bezos criticizes Biden over inflation tweet

Amazon CEO Jeff Bezos speaks in the course of the UN Local weather Change Convention (COP26) in Glasgow, Scotland, Britain, November 2, 2021.Paul Ellis | ReutersAmazon founder Jeff Bezos took goal at President Joe Biden on Friday over a tweet that mentioned inflation might be introduced down by taxing rich companies.Biden earlier within the day tweeted: “You need to deliver down inflation? Let’s be sure the wealthiest companies pay their justifiable share.”Bezos, whose firm has benefited from tax credit and deductions, quoted the tweet to retort: “The newly created Disinformation Board ought to evaluate this tweet, or possibly they should kind a brand new Non Sequitur Board as an alternative,” the previous CEO mentioned, apparently referring to the Division of Homeland Safety’s Disinformation Governance Board. “Elevating corp taxes is okay to debate. Taming inflation is essential to debate. Mushing them collectively is simply misdirection.”Whereas he did not name out Amazon particularly in that tweet, Biden has beforehand criticized the corporate’s tax historical past. Amazon paid no federal revenue taxes in 2017 and 2018.The Twitter spat comes as inflation reaches ranges not seen in many years, affecting the price of important items like gasoline, meals and housing. Federal Reserve officers have responded to the issue with two rate of interest hikes thus far this 12 months. They’ve pledged extra till inflation comes right down to the central financial institution’s 2% objective.Subscribe to CNBC on YouTube.

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