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Jeff Bezos slams Biden over soaring inflation after threat to tax Amazon moreJona JaupiTechnology and Science – latest news | The Sun
AMAZON founder Jeff Bezos has criticized President Joe Biden for high inflation and threats to tax corporations more.
The Blue Origin CEO took to Twitter on Sunday to express his thoughts on the President’s course of action in trying to tackle high inflation rates.
Amazon founder Jeff Bezos has criticized President Joe Biden for inflation and threats to tax corporations more
“The administration tried hard to inject even more stimulus into an already over-heated, inflationary economy and only Manchin saved them from themselves,” Bezos said.
“Inflation is a regressive tax that most hurts the least affluent. Misdirection doesn’t help the country.”
Bezos’ comments were in response to Biden’s tweets on Saturday about reducing the US deficit.
“Under my predecessor, the deficit increased every single year,” the US president wrote.
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“This year, we’re on track to cut the deficit by $1.5 trillion – the biggest one-year decline ever.”
“It matters to families because reducing the deficit is one of the main ways we can ease inflationary pressures.”
The billionaire’s comments came just two nights after he slammed Biden once more for proposing to tax “the wealthiest corporations to pay their fair share.”
“The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non-Sequitur Board instead,” Bezos said.
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“Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection.”
Tax scandal
For years, Bezos and Amazon have been publicly denounced for not paying taxes.
In 2020, Amazon paid just one percent tax to the US government after making more than $13 billion in profits the year before.
Taxpayers were left with just $162million after the online retail giant was allowed to defer $914 million in federal income taxes, according to the company’s filings with the Securities and Exchange Commission.
And the filings show that the books looked even healthier for Amazon the previous year – when its federal tax bill was zero.
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Between 2014 and 2019, Bezos, himself, only paid a true tax rate of 0.98 percent as his wealth ballooned by $99 billion.
In that same period, he filed just $4.22 billion in reported income, per Forbes.
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Technology and Science – latest news | The Sun
