Jeff Bezos accuses Biden’s ‘wrong direction’ of inflation

“Want to lower inflation? Let the wealthiest companies pay their fair share.” Tweet Friday evening in his personal account.

Bezos countered later Friday with a tweet claiming that there was no link between inflation and corporate taxes.

“Corporate tax hikes are good to talk about. Keeping inflation under control is important to talk about. Sticking together is the wrong way to go,” Bezos said. Tweet.
Bezos also said Biden’s tweets should be reviewed by the “Disinformation Board,” an initiative by the Department of Homeland Security and the White House to help curb disinformation, especially on social media platforms.
Biden has previously criticized Bezos’ company. In May 2020, Biden told CNBC that Amazon should “start paying taxes.”

“I don’t think any company should absolutely be in a position to make billions of dollars without paying taxes,” Biden said. who was running for president at the time.

Previously, for tax years 2017 and 2018, Amazon’s financial reports showed that it was not owed on income tax, and rather expected to receive a tax refund from the federal government.

Amazon said In the 2020 tax year, you paid $1.7 billion in federal income taxes and $1.8 billion in other federal taxes. It also said it paid $2.6 billion in state and local taxes.
The e-commerce giant’s federal income tax bills are valued at about one-third of the 21% corporate tax rate.
And Bezos himself has been scrutinized for personal tax bills in the past. — ProPublica report In 2020, billionaires paid no federal income tax in 2007 and 2011.

— CNN’s Chris Isidore and Brian Fung contributed to this report.


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