Amazon founder Jeff Bezos has blamed the Biden administration for trying to mislead the US public on inflation, arguing that increasing taxes on corporations and the wealthy won’t reduce consumer costs.
The war of the words broke out over the weekend when Joe Biden tweeted that making sure that “the wealthiest corporations pay their fair share” was the way to defeat soaring inflation in America, which stood at 8.3% in April, a level unseen in almost 40 years.
Bezos suggested on Saturday that the president’s tweet should have been reviewed by the Disinformation Governance Board, which was recently created by the US government.
“Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection,” he wrote.
The entrepreneur later expressed belief that the actual reason for inflation was the stimulus policies of the White House, which saw money being injected “into an already over-heated, inflationary economy.” Last year, the Biden administration approved a $1.9 trillion American Rescue Plan with the aim of helping the country recover after the Covid-19 pandemic.