Jeff Bezos accuses Biden of ‘misdirection’ over inflation | CNN Enterprise

Jeff Bezos accuses Biden of ‘misdirection’ over inflation | CNN Enterprise

New York


(AMZN) founder Jeff Bezos accused President Joe Biden of spreading “misdirection” on Twitter, after the president tweeted that rich companies ought to be paying their fair proportion of taxes to carry down inflation.

“You wish to carry down inflation? Let’s make sure that the wealthiest companies pay their fair proportion,” Biden tweeted from his private account Friday night.

Bezos shot again later Friday with a tweet of his personal claiming there isn’t a hyperlink between inflation and company taxes.

“Elevating corp taxes is okay to debate. Taming inflation is vital to debate. Mushing them collectively is simply misdirection,” Bezos tweeted.

Inflation has been rampant and affecting American shoppers, although it slowed for the primary time since August final month.

Bezos additionally stated Biden’s tweet ought to be reviewed by the “Disinformation Board,” an initiative from the the Division of Homeland Safety and the White Home to assist rein in disinformation, notably on social media platforms.

Biden has criticized Bezos’ agency earlier than. In Could 2020, Biden stated Amazon ought to “begin paying their taxes” in an interview with CNBC.

“I don’t suppose any firm, I don’t give a rattling how large they’re, the Lord Almighty, ought to completely be able the place they pay no tax and make billions and billions and billions of {dollars},” stated Biden, who was then operating for president.

Beforehand, within the 2017 and 2018 tax years, Amazon’s monetary filings confirmed that it didn’t owe cash in revenue tax, and fairly anticipated to obtain a tax refund from the federal authorities.

Amazon stated it paid $1.7 billion in federal revenue tax for the 2020 tax yr and paid $1.8 billion in different federal taxes. It additionally stated it paid $2.6 billion in state and native taxes.

The e-commerce big’s federal revenue tax invoice was assessed at roughly one third of the 21% company tax charge.

And Bezos himself has been scrutinized for his private tax payments previously — ProPublica reported in 2020 the billionaire didn’t pay any federal revenue taxes in 2007 and 2011.

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

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