Amazon’s Bezos criticizes Biden over inflation tweet

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

Paul Ellis | Reuters

Amazon founder Jeff Bezos targeted President Joe Biden on Friday with a tweet saying inflation could be lowered by taxing wealthy companies.

Biden tweeted earlier in the day: “Do you want to cut inflation? Let’s make sure the richest companies pay their fair share.”

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

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

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

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