Jeff Bezos tells Biden that inflation most hurts poor

Robert Besser
19 May 2022, 00:59 GMT+10

Amazon founder Jeff Bezos criticized President Joe Biden for the second time in a week for his comments on inflation, stressing that inflation is most hurtful to the least affluent Americans
His tweets were in response to President Joe Biden's claim that the U.S. was on track to see its largest yearly deficit decline ever, totaling $1.5 trillion
Bezos called out President Biden over a tweet that said taxing wealthy corporations can help lower inflation, urging the Disinformation Board to review the tweet

WASHINGTON D.C.: In a tweet this week, Amazon founder Jeff Bezos criticized President Joe Biden for the second time in a week for his comments on inflation, stressing that inflation is most hurtful to the least affluent Americans.

"In fact, the administration tried hard to inject even more stimulus into an already over-heated, inflationary economy and only Manchin saved them from themselves. Inflation is a regressive tax that most hurts the least affluent. Misdirection doesn't help the country," Bezos tweeted.

His tweets were in response to President Joe Biden's claim that the U.S. was on track to see its largest yearly deficit decline ever, totaling $1.5 trillion. Biden also criticized former President Donald Trump, noting the deficit "increased every single year" when he was in office.

Still, Bezos called out President Biden over a tweet that said taxing wealthy corporations can help lower inflation, urging the Disinformation Board to review the tweet.

Further, Bezos stated, "Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection."

Both Biden's and Bezos' comments come as inflation in the U.S. is at a near 40-year high, and Federal Reserve officials seek to hike interest rates.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Oakland Times.

More Information

57 ℉

Cloudy in Oakland

United States

Section

TikTok is not handing over American users' data to China: CEO

Beijing [China], July 2 (ANI): TikTok, a 15-second video platform, has told US senators that it is taking all necessary ...

Study: Screening of parental depression has potential to identify families in need of support

New Jersey [US], July 2 (ANI): Screening mothers and fathers for depression beyond their child's first birthday in pediatric offices, ...

NBA star urges Canadian PM Trudeau to not tolerate China's 'genocide' in Xinjiang

Ottawa [Canada], July 2 (ANI): NBA star Enes Kanter Freedom has called upon Canadian Prime Minister Justin Trudeau to take ...

Will Australia come under fire as China prepares for showdown with US in West Pacific?

Canberra [Australia], July 2 (ANI): Australia seems to be in the firing line as US and China come closer to ...

Imran Khan accuses US of regime-change conspiracy to set up military base in Pakistan

Islamabad [Pakistan], July 2 (ANI): Former Pakistan prime minister and Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan on Friday accused the ...

Panthers' Anthony Duclair has surgery to repair Achilles tendon

Florida Panthers forward Anthony Duclair underwent successful surgery to repair his Achilles tendon and is expected to return midway into ...

International

Section

Movie Review

The Paramedic (El practicante)

Patramedic