Billionaire Jeff Bezos has accused US President Joe Biden of deception on Twitter. Biden linked high inflation to the relatively low taxes paid by the richest companies on the social medium.
Bezos, the founder of online store group Amazon and the richest man in the world after Elon Musk, thinks this is misleading because, according to him, the two things have nothing to do with each other.
The altercation began with a message from Biden about high inflation. “Would you like lower inflation?” Biden or a member of his team asked on Twitter. “Then let’s make sure that the richest companies pay a fair share.” The largest multinationals in the world, such as Amazon, pay relatively little tax on their profits.
Bezos responded by saying that Biden’s tweet should be checked for disinformation. “Raising corporate tax is perfectly negotiable,” he wrote. Taming inflation is crucial to discuss. Putting them together is just deception.”
High inflation is undermining Biden’s popularity. He, therefore, labelled the fight against inflation as his top domestic priority. The Americans, for example, use their oil reserves to push petrol prices at the pump. As a result, the Federal Reserve, the US umbrella organization of central banks, started raising interest rates in March to curb price increases.