- President Joe Biden tweeted that taxing wealthy businesses could help lower inflation.
- Amazon’s Jeff Bezos said “cooperating” with inflation and corporate tax increases is “the wrong way”.
- Inflation in the United States has reached its highest level since the 1980s.
Amazon Chairman Jeff Bezos followed Friday’s tweet from President Joe Biden to lower inflation by imposing a tax on large corporations.
“Do you want to lower inflation? Let the wealthiest companies pay their fair share,” said Biden. Twitter Friday evening.
Amazon billionaire retweet The president suggested that tweets could be considered disinformation.
Bezos, referring to the recently announced Disinformation Governance Committee by the Department of Homeland Security, said, “The newly created Disinformation Committee should review this tweet.
“Corporate tax hikes are fine to discuss. Keeping inflation under control is an important issue to discuss. Bringing them together is just the wrong way to go,” Bezos said.
—Jeff Bezos (@JeffBezos) May 14, 2022
Inflation in the United States reached its highest level since the 1980s and has affected prices for commodities such as gas, food, health care and housing. Inflation in April slowed for the first time in eight months.
As Insider previously reported, some of the most common causes of inflation are excess demand for goods and services, rising wages and material costs, currency devaluation, and policies and regulations.
Amazon, which Bezos founded, has long been criticized for not paying fair taxes. The company paid no federal income tax in 2017 and 2018.
One of the richest people in the world, Bezos personally paid no federal income tax in 2007 and 2011. ProPublica reported last year.
The White House did not immediately respond to an insider’s request for comment.