Jeff Bezos criticizes Joe Biden on Twitter over inflation

Jeff Bezos criticizes Joe Biden on Twitter over inflation

‘You want to lower inflation? Let’s make sure the wealthiest companies pay their fair share,’ Biden said tweeted from his personal account on Friday night.

Bezos retaliated later Friday with a tweet of his own claiming there was no connection between inflation and corporate taxes.

“It’s good to discuss raising corporate taxes. It’s essential to discuss controlling inflation. Mixing them together is just the wrong direction,” Bezos said. tweeted.
Bezos also said Biden’s tweet should be reviewed by the “Disinformation Council,” an initiative of the Department of Homeland Security and the White House to help curb disinformation, especially on social media platforms.
Biden has previously criticized Bezos’ business. In May 2020, Biden said Amazon should “start paying taxes” in an interview with CNBC.

“I don’t think any company, I don’t care how big it is, Lord Almighty, should absolutely be in a position where it pays no taxes and makes billions and billions and billions of dollars,” he said. said Biden, who was running for president at the time.

Previously, in the 2017 and 2018 tax years, Amazon’s financial statements showed that it owed no money in income tax and instead expected to receive a federal tax refund.

Amazon said it paid $1.7 billion in federal income tax for the 2020 tax year and paid $1.8 billion in other federal taxes. He also said he paid $2.6 billion in state and local taxes.
The e-commerce giant’s federal income tax bill has been assessed at about one-third of the 21% corporate tax rate.
And Bezos himself has come under scrutiny for his personal tax bills in the past — ProPublica reported in 2020 that the billionaire paid no federal income tax in 2007 and 2011.

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

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