Amazon founder Jeff Bezos has targeted US President Joe Biden for a tweet that said inflation could be reduced by taxing wealthy corporations. ‘You want to lower inflation? Let’s make sure the richest corporations pay your fair share”, the presidential tweet said.
Joe Biden has been facing criticism for the highest rates in 40 years that reached 8.3 percent. In this context, Bezos asked the new “Disinformation Board” of the Biden Administration to review the president’s tweet stating that rising inflation could be controlled by raising corporate taxes.
Jeff Bezos’s company, Amazon, benefited from tax credits and deductions. Still, he quoted the tweet to retort: “The newly created Disinformation Board should review this tweet, or maybe they need form a new Non Sequitur Board in its placethe former CEO said, apparently referring to the Department of Homeland Security’s Disinformation Governing Board.
“It’s okay to discuss raising taxes on corporations. Taming inflation is essential to discuss. Smashing them together is just misdirection”, he added.
While he didn’t specifically call out Amazon in that tweet, Biden previously criticized the company’s tax record. Amazon paid no federal income taxes in 2017 and 2018.
Last week, Bezos also had an onslaught from the political arc: Bernie Sanders, the most progressive US senator, has intensified in recent weeks his campaign against Amazon and this Thursday he went a step further: he asked the US president, Joe Biden, to eliminate any aid to Amazon for making it difficult to create unions.
In a hearing in the Senate budget committee, Sanders argued that companies like Amazon, which supposedly violate laws that protect the right of workers to organizethey should not get tax benefits and should not receive contracts to work with the federal government.
Amazon has a very strong anti-union history, with votes and controversies for disrupting the organization of workers.
What is the Disinformation Board
Biden, in Delware. AFP photo
The Disinformation Board was established last month to combat the spread of disinformation in minority communities and to provide communities with resources and tools to help prevent people from being radicalized into violence.
However, the board received much criticism as it was established ahead of the 2022 midterm elections, where the president’s party is expected to may have an adverse outcome. The Biden administration was targeted for trying to turn the tables in his favor.
The administration had previously claimed that the war in Ukraine was causing inflation and gasoline prices to soar even though both were already significantly high before the Russian invasion.
The dispute on Twitter comes as inflation reaches levels not seen in decades, hitting the cost of essential goods like gas, food and housing. Federal Reserve officials have responded to the problem with two interest rate hikes so far this year. They promised more until inflation comes down to the central bank’s 2% target.
Wednesday’s Labor Department report said the consumer price index rose 0.3 percent in April from a month earlier, an increase of 8.3 percent from a year earlier, compared with a rise in the 8.5 percent from March.
The Federal Reserve began raising interest rates to curb lending and spend enough to cool inflation after the height of the pandemic.