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Bezos and White House battle over taxes and inflation -Breaking

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© Reuters. FILE PHOTO – Jeff Bezos is the founder and CEO of Amazon. He speaks in Glasgow, Scotland (Britain), November 2, 2021. Paul Ellis/Pool via REUTERS

WASHINGTON, (Reuters) – Monday’s attack on Jeff Bezos by the White House for criticizing President Joe Biden over his plans to tax the wealthy would reduce consumer prices. As a result of the escalated war of words between Amazon.com Inc. (NASDAQ:), founder and the administration.

Over the weekend, Bezos tweeted accusations of Biden misleading the public. He also blamed his administration for an increase in inflation.

Andrew Bates of White House responded to this statement by saying that “it doesn’t take a big leap to find out why one the wealthiest people on Earth opposes a economic agenda for middle class, which cuts some of most costly family costs, fights inflation for long-term, and contributes to the historic deficit decrease the president has achieved by asking the wealthiest taxpayers, corporations, to pay their fair shares.”

Back-and-forth ensued between Biden and the White House, escalating the conflict of words. Biden attacked Amazon’s tax payments and claimed that Amazon was not paying enough. However, the White House appeared to be on the side of workers who wanted to unify the company.

Bates stated, “It’s not surprising that the president met with labor organizers and Amazon employees.”

Biden has come under pressure to reduce inflation. Economists suggest that increasing taxes may help lower prices.

Although the president would like to raise levies for corporations and billionaires, his tax- and spending plans have not been able to secure enough support from Congress. Manchin, an important swing vote, has also resisted.

Bezos said that it was okay to talk about raising taxes on corporations. It is crucial to talk about taming inflation. It is a misdirection to try and mash them together.

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