Jeff Bezos tells Biden that inflation most hurts poor

Sat, 02 Jul 2022

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 India Gazette.

More Information

26 ℃

Mostly Cloudy in New Delhi/Sadfarjung

Business

Section

Stock markets in U.S. revive after sharp sell-off, dollar forges ahead

NEW YORK, New York - U.S. stocks rebounded on Friday, a day after major across-the-board sell-offs."Consensus estimates for 2022 and ...

Swiss pharma Novartis to cut 7.4% of global workforce

GENEVA, Switzerland: Swiss pharmaceutical group Novartis has said, as part of its previously announced restructuring program, that it could cut ...

Shanghai Disney opens gates after city ends Covid lockdowns

SHANGHAI, China: Walt Disney Company reopened Shanghai Disneyland on 30th June, one month after the city lifted a two month ...

Asian stocks shunned by investors, Nikkei 225 loses 457 points

SYDNEY, NSW, Australia - Stocks in Asia skidded lower Friday with all the major indices recording solid losses."Capitulation is the ...

Islamabad considers importing oil from Russia

ISLAMABAD, Pakistan - Given the country's ongoing economic crisis and acute fuel shortage, the Pakistan government is considering purchasing oil ...

High pressure fracking again being used by US oil companies

WASHINGTON, D.C.: Amidst the rise of "re-fracs" in the U.S. as part of the efforts to boost domestic oil production, ...

Delhi

Section

Indian hospital treats chemotherapy patients on road after floods

ASSAM, India: During this week's heavy rains, which caused the region's worst floods in years, staff at the Cachar Cancer ...

Pakistan's entry in BRICS dialogue 'blocked by one member': FO

ISLAMABAD, Pakistan - The Foreign Office (FO) revealed on Monday that a member of the five-nation BRICS summit "obstructed Pakistan's ...

NCRTC, DB India sign pact for operation of Delhi-Ghaziabad-Meerut RRTS corridor

New Delhi [India], July 2 (ANI): In a first-of-its-kind move, National Capital Region Transport Corporation (NCRTC) on Friday signed an ...

Delhi schools get new assessment criteria for students; Deshbhakti, Mindset curricula introduced

New Delhi [India], July 2 (ANI): The Delhi government on Friday introduced new assessment guidelines for government, government-aided and recognised ...

Pourakarmikas launch indefinite strike in Karnataka

Bengaluru (Karnataka) [India], July 2 (ANI): The pourakarmikas across Karnataka launched an indefinite strike starting on Friday for the regularisation ...

Rishabh Pant's love affair against Anderson and England continues

By Vivek Prabhakar SinghBirmingham [UK], July 2 (ANI): Swashbuckling batter Rishabh Pant scored a brilliant ton to put India in ...

Movie Review

A Fish Called Wanda

Fish Called Wanda