Last week’s inflation report shows how April’s rates have only gone up, compared to last year’s.
Jeff Bezos, the founder of shipping company Amazon, took to his Twitter account to share criticism of President Joe Biden’s policies.
Namely, he went straight for the Build Back Better Act. Bezos believes this would’ve sent the inflation crisis into overdrive, had West Virginia Senator Joe Manchin not managed to block it.
The Amazon founder said any additional stimulus would’ve overloaded the already red-hot economy.
Biden’s ideas could’ve proven detrimental to the economy
However, uncharacteristically, the White House actually replied to Bezos’ criticism, issuing a statement at the end of last week.
They tried to flip the issue back on the billionaire, claiming his opinion on a middle-class policy is biased, due to his immense wealth.
Furthermore, White House deputy secretary Andrew Bates quipped at Bezos’ remarks, stating it’s no surprise he’d resorted to smear tactics like these, mere days after Biden met with labor organizers, among which were Amazon employees.
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. https://t.co/a8cygcunEG
— Jeff Bezos (@JeffBezos) May 15, 2022
It’s definitely true that Amazon does have its issues when it comes to workforce management and quality of life.
However, it doesn’t take away from the fact the Biden administration tried to mask the inflation crisis for as long as they could.
Another thing that could’ve prompted Bezos to take such an offensive stance is Biden’s most recent series of tweets regarding the inflation crisis.
In these tweets, he claimed increasing tax on corporations would loosen the grip on lower-to-middle class Americans.
Biden to be held accountable for spreading misinformation
Protecting both his wealth and magnum opus, Bezos was quick to respond.
He tweeted, in a matter of hours, that the president’s conflation of these two issues is nothing more than misdirection.
Then, Bezos demanded that Biden be held accountable by Homeland Security’s Disinformation Governance Board.
NEW: The White House just blasted Jeff Bezos after he attacked Biden on Twitter: “It's unsurprising that this tweet comes after the President met with labor organizers, including Amazon employees.” They also said it’s obvious why he opposes paying his fair share in taxes. (WaPo)
— No Lie with Brian Tyler Cohen (@NoLieWithBTC) May 16, 2022
Of course, Bezos wasn’t fully against either of the proposed ideas.
He agreed that large corporations do deserve more taxes, as well the inflation issue must be tackled before it spirals out of control. Bezos was only refusing to mush the two issues together as if they’re correlated.
The Disinformation Governance Board was established only last month in an attempt to provide Americans with the resources and tools needed to get to factual information, instead of being radicalized by manipulative media conglomerates.
However, the board did little in this field, instead only drawing negative attention through the heavy criticism it received for its misguided mission and poor timing.
is it just me or is Jeff Bezos becoming cooler?
— Matt Wallace (@MattWallace888) May 14, 2022
Recently, the Biden administration has been coming up with one reason after another for rising inflation rates, with last month’s culprit being the Ukrainian war, despite there being evidence of gas prices surging weeks earlier.
As for the idea of increasing corporate tax, experts believe the Federal Reserve’s plan to employ interest rate hikes will prove much more effective.
Core inflation has hit a 6.3% rate in a 12-month period that ended this April, which is still a slight decline, compared to March’s annual rate of 6.5%