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Amazon.com, Inc (NASDAQ:AMZN) Executive Chairman Jeff Bezos on Friday attacked President Joe Biden for his recent tweet on inflation and corporate taxation.
On Friday, Biden tweeted about curtailing inflation by taxing large corporations in the U.S.
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You want to bring down inflation?
— Joe Biden (@JoeBiden) May 13, 2022
Let’s make sure the wealthiest corporations pay their fair share.
Biden’s remark came amid protest against the rising inflation under his administration.
During my first year in office, American agriculture exports shattered all previous records—$177 billion last year alone.
— Joe Biden (@JoeBiden) May 13, 2022
We have to keep investing in our farmers to reduce prices for consumers.
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Last week, the Labor Department said the consumer price index rose 8.3 percent in April from a year ago. The gain was barely below the 8.5 percent year-over-year spike recorded in March.
Also Read: Biden Says Inflation Is 'Top Economic Challenge': How He Compares GOP, Democratic Plans
Responding to Biden’s tweet, Bezos said that pointing the finger at corporations was a “misdirection” and the president should be subject to his own Disinformation Board.
The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead. Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection. https://t.co/ye4XiNNc2v
— Jeff Bezos (@JeffBezos) May 14, 2022
Earlier this month, Biden announced the Department of Homeland Security’s new Disinformation Governance Board, which was created to combat disinformation in online social media posts.
In April, inflation in the U.S. surged 8.3 percent from a year ago, nearing a decades-long record high.
Records show that Amazon did not pay federal income taxes in 2017 and 2018. According to the ProPublica report, Bezos himself was able to avoid paying federal income taxes in 2007 and 2011.
Photo: Created with an image from jlhervàs on Flickr.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.