The White House hit back at Amazon founder Jeff Bezos after he took a jab at President Joe Biden in a series of social media posts.
Biden did not directly refer to Amazon when he said "You want to bring down inflation?" on Friday. Let the wealthiest corporations pay their fair share.
Bezos argued that there was no link between inflation and corporate taxes. Raising corp taxes is fine to discuss. It's important to discuss inflation. It's just misdirection to keep them together.
Consumer inflation rose at a higher-than- expected 8.3% pace in April and is near the highest level in more than 40 years.
Bezos criticized the Biden administration's approach to inflation on Sunday. He said the American Rescue Plan contributed to a spike in inflation. Bezos said that inflation is the most harmful to the poor.
The White House responded that it doesn't require a huge leap to figure out why Bezos would oppose Biden.
The President met with labor organizers, including Amazon employees, and this is unsurprising.
The venture capital firm of Bezos didn't respond to a request for comment.
The president of the Amazon Labor Union, Chris Smalls, was at a meeting with Biden earlier this month.
Biden and Bezos have their first public clash. During his time in office, Donald Trump frequently targeted Bezos. The Washington Post is owned by Jeff Bezos, and Trump claimed that he is a lobbyist for the online retail giant.
Biden didn't call out Amazon specifically, but he has been critical of the company's tax history. The company paid no federal income taxes in the two years that it was there. Bezos, who stepped down as Amazon CEO last year, has become a recurring target for Democrats in the discussion of wealth inequality.
Biden supports unionization efforts at Amazon. The choice to join a union belongs to workers alone, he said during an address at a trade union national conference. By the way, Amazon, here we come.
Dean of Valuation Aswath Damodaran says markets are driven by inflation.
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