Amazon's Bezos slams Biden for his inflation tweet

Amazon’s Bezos slams Biden for his inflation tweet

Amazon CEO Jeff Bezos speaks during the United Nations Climate Change Conference (COP26) in Glasgow, Scotland, Britain November 2, 2021.

Paul Ellis | Reuters

On Friday, Amazon founder Jeff Bezos took aim at President Joe Biden over a tweet saying inflation could be reduced by taxing wealthy corporations.

Biden earlier today tweeted, “Want to bring inflation down? Let’s make sure the wealthiest companies pay their fair share.”

Bezos, whose company has benefited from tax credits and deductions, quoted the tweet to retort, “The newly formed Disinformation Committee should review this tweet, or perhaps they should form a new non-sequential board instead. “said the former CEO, apparently referring to the Department of Homeland Security’s Disinformation Governance Council. “It’s good to discuss raising corporate taxes. It’s essential to discuss controlling inflation. Mixing them together is just the wrong direction.”

Although he didn’t specifically call out Amazon in that tweet, Biden has previously criticized the company’s tax history. Amazon paid no federal income taxes in 2017 and 2018.

Twitter’s spat comes as inflation hits levels not seen in decades, affecting the cost of essentials 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 hits the central bank’s 2% target.

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