Amazon founder Jeff Bezos tweeted on Sunday that inflation is hurting America's underprivileged the most, and for the second time in a week lambasted President Joe Biden for his inflation rhetoric.
“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,” Bezos wrote on Twitter. “Inflation is a regressive tax that most hurts the least affluent. Misdirection doesn’t help the country.”
Bezos's remark was a response to a statement by US President Joe Biden, in which he said that the United States is on track for the largest annual deficit reduction in history, which will be $1.5 trillion. Biden also lashed out at former President Donald Trump, under whom he said the deficit had gotten bigger every year.
On Friday, Bezos slammed Biden over a tweet saying that taxing wealthy corporations could help bring down inflation. Bezos urged the Council on Disinformation to reconsider the tweet.
The comments from both President Biden and Bezos come as U.S. inflation hits a 40-year high and Federal Reserve officials are considering raising interest rates to combat the problem, CNBC reports.