Jeff Bezos has criticised US President Joe Biden's take on inflation again. The Amazon founder said that the administration tried hard to inject more stimulus into an already inflationary economy.
"Inflation is a regressive tax that most hurts the least affluent. Misdirection doesn’t help the country," Bezos tweeted.
He was reacting to a tweet by an NGO which appeared to disagree with Biden's claims that this year, the government is on track to cut the deficit by $1.5 trillion – the biggest one-year decline ever.
Joe Biden also claimed that under his predecessor Donald Trump, the deficit increased every year.
The Twitter user Neoliberal then pointed out, "The deficit is decreasing because we’re not doing pandemic aid anymore, and federal receipts are up because of inflation. Congress, or the Biden administration, didn’t do anything to lower the deficit."
Adding to this, Jeff Bezos tweeted, "In fact, the administration tried hard to inject even more stimulus into an already over-heated, inflationary economy and only (Senator Joe) Manchin saved them from themselves.
The Amazon founder was referring to the fact that the US President's plans for larger spending were largely thwarted by Senator Joe Manchin.
Hours ago, Bezos had criticised Biden over his remark on controlling inflation in the country by taxing "the wealthiest corporations".
"You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share," Biden had tweeted on Saturday.
Inflation in the US surged to 8.3% in April, approaching a 40 year record, the New York Post reported. Prices for food and fuel have soared.
"Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection," the third richest person in the world with a net worth of $138.8 billion had tweeted.
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