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White House hits back at Jeff Bezos, saying he ‘doesn’t require a big leap forward’ to understand why he opposes an economic program that taxes the super-rich

A composite image of Amazon founder Jeff Bezos and President Joe Biden.Cliff Owen, File/Associated Press; Susan Walsh/Associated Press

  • The White House has slammed Bezos for going against his economic priorities.

  • A White House spokesperson said “it doesn’t take a big leap forward” to understand why Bezos has resisted tax hikes.

  • Bezos lambasted the White House for pushing a plan he said would make inflation worse.

The White House fired back Sunday night at Amazon founder Jeff Bezos for opposing an economic spending package that included taxes on the wealthiest Americans.

“You don’t have to take a big leap to understand why one of the wealthiest people on the planet opposes a middle-class economic program that cuts some of the biggest costs families face. , fights long-term inflation and adds to the historic deficit reduction the president is achieving by asking the wealthiest taxpayers and businesses to pay their fair share,” said White House spokesman Andrew Bates. said in a press release to Jeff Stein of the Washington Post.

Bates continued, “It’s also no surprise that this tweet comes after the president met with union organizers, including Amazon employees.”

Earlier in the day, Bezos criticized President Joe Biden’s administration for trying to pass a social and climate spending program once known as Build Back Better. He argued that this amounted to “more stimulus in an already overheated inflationary economy and only Manchin saved them from themselves”.

It was a reference to Sen. Joe Manchin of West Virginia, a conservative Democrat who scrapped the spending plan in late December. Democrats have been unable to revive a smaller version of the package so far, and Manchin swerved on whether he was interested in backing a bill. Democrats can’t approve the GOP’s Unified Resistance plan without its 50-50 Senate support.

Biden’s Build Back Better plan is different from the $1.9 trillion stimulus package he signed into law in March 2021. The stimulus package was designed as a one-time relief effort to flood the economy with direct payments and unemployment benefits for individuals, aid to state and local governments and money for public health systems. The federal government did not raise revenue to finance these expenditures, so they were added to the national debt.

Some experts say this has worsened inflation since it has dominated demand. Supply chain bottlenecks and other pandemic-related disruptions have been a persistent factor in rising grocery and gas prices.

The Build Back Better plan was to be funded entirely by tax hikes on the wealthiest Americans. While that bill was on the back burner, Biden focused on repackaging his inflation-fighting agenda as well as promoting his professional credentials. He hosted union organizers from Amazon and Starbucks earlier this month.

Read the original article on Business Insider


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