Bezos slams Biden for ‘misdirection’ on US economy inflation | World | New

Consumer inflation rose 8.3% in the United States in April, close to its highest level in 40 years. This was higher than the Dow Jones estimate of 8.1%.

The leader of the Democratic Party has pledged to bring that figure down by raising taxes on wealthy corporations.

But Mr Bezos accused the president of confusing issues that weren’t really related.

The spat began after Mr Biden said in a Twitter post: “Want to bring inflation down? Let’s make sure the wealthiest companies pay their fair share.

The Amazon founder called it “hijacking.”

He replied, “The newly created disinformation committee should look into this tweet, or perhaps they should form a new, non-sequential council instead.

“Increasing corporate taxes is a good thing to discuss. It is essential to discuss the control of inflation. Mixing them together is just a misdirection.

Mr Bezos also criticized the Biden administration’s attempt to further stimulate the economy when prices were already rising and pointed out that inflation hurts the poor the most.

Despite reports suggesting he was generally quieter on politics, the businessman wrote: “The administration has scrambled to inject even more stimulus into an already overheated inflationary economy and only [Joe] Manchin saved them from themselves.

READ MORE: Starmer U-turn – Labor leader hints he will quit even if not fined

“Inflation is a regressive tax that hurts the less well off the most. Bad leadership does not help the country.

The row didn’t end there, with White House spokesman Andrew Bates issuing a scathing response and saying Mr Bezos’ tweets may have stemmed from frustration with what his own employees of Amazon had recently told the president, or a desire to avoid more taxes itself.

The administration said: ‘It doesn’t take a big leap to understand why one of the richest people on the planet opposes a middle-class economic program that cuts some of the biggest costs. families face, fights long-term inflation, and adds to the historic deficit reduction the president is getting by asking the wealthiest taxpayers and corporations to pay their fair share.

Zelensky’s call for a no-fly zone rejected [OPINION]
Putin’s army from ‘mysteriously weak’ to ‘brutal’ [REVEAL]
People Sensationally Blame Brexit For Scary Russian Invasion [REPORT]

“Nor is it surprising that this tweet comes after the President met with union organizers, including Amazon employees.”

Mr Bezos said the statement only “confused the issue further”, which he added was neither the fault of the wealthy nor the unions.

Commenting on what he saw as a White House distraction tactic, the entrepreneur joked, “Look, a squirrel!”

He added: “They naturally want to blur the subject. They know that inflation hurts the most needy the most.

“But unions don’t cause inflation and neither do the rich.”

Bezos also noted that if the president had succeeded in stimulating the economy further, “inflation would be even higher than it is today.”

Previous Beware of payday advance promises
Next GMB guest erupts on UK economy 'people work hard - lower VAT' | Television & Radio | Showbiz and television