Amazon’s Bezos criticizes Biden over inflation tweet

Amazon’s Bezos criticizes Biden over inflation tweet


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

Paul Ellis | Reuters

Amazon founder Jeff Bezos took aim at President Joe Biden on Friday over a tweet that said inflation could be brought down by taxing wealthy corporations.

Biden earlier in the day tweeted: “You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share.”

Bezos, whose company has benefited from tax credits and deductions, quoted the tweet to retort: “The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead,” the former CEO said, apparently referring to the Department of Homeland Security’s Disinformation Governance Board. “Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection.”

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

The Twitter spat comes as inflation reaches levels not seen in decades, affecting the cost of essential goods like gas, food and housing. Federal Reserve officials have responded to the problem with two interest rate hikes so far this year. They’ve pledged more until inflation comes down to the central bank’s 2% goal.

Subscribe to CNBC on YouTube.



Source

Stablecoins stole the show at Bitcoin 2025 — here’s what the major players said
Technology

Stablecoins stole the show at Bitcoin 2025 — here’s what the major players said

Bitcoin 2025 brought together thousands of investors, builders, and believers for a showcase of crypto’s next chapter. MacKenzie Sigalos LAS VEGAS — At the world’s largest bitcoin conference this week on the Vegas Strip, the most consequential story wasn’t about bitcoin. Stablecoins, the dollar-pegged digital tokens now driving a full-scale financial and political shift in […]

Read More
$TRUMP and other meme coins won’t be protected by SEC, Commissioner Hester Peirce says
Technology

$TRUMP and other meme coins won’t be protected by SEC, Commissioner Hester Peirce says

Hester Peirce, commissioner of the US Securities and Exchange Commission (SEC), speaks during the DC Blockchain Summit in Washington, D.C., on Tuesday, May 24, 2022. Valerie Plesch | Bloomberg | Getty Images LAS VEGAS — Now that the SEC is out of the business of regulating meme coins, investors shouldn’t expect any guidance on $TRUMP, […]

Read More
Zscaler jumps 8% on strong results fueled by AI growth
Technology

Zscaler jumps 8% on strong results fueled by AI growth

Zscaler rings the opening bell at the Nasdaq exchange in New York, March 16, 2018. Source: Nasdaq Zscaler shares jumped 8% Friday after reporting stronger-than-expected results in the third fiscal quarter driven by artificial intelligence and widespread adoption of its zero-trust security platform. “The proliferation of AI in all aspects of business is increasing the […]

Read More