[ad_1]
Jeff Bezos this weekend became the latest centibillionaire to launch a political fight on Twitter by denouncing a tweet from President Joe Biden about corporate taxes as “disinformation” and “misdirection.”
The White House quickly retorted Monday that Bezos “opposes an economic agenda for the middle class.” And then Bezos fired back, arguing that the Biden administration would have made inflation worse if its $3.5 trillion economic and social spending bill, known as “Build Back Better,” had made it into law.
“They failed, but if they had succeeded, inflation would be even higher than it is today, and inflation today is at a 40 year high,” Bezos tweeted.
The dispute marks an unusually high-profile one for Bezos, who has generally sought to avoid political fights in public. Bezos is the second-wealthiest person in the world, with a net worth of $150 billion, behind Elon Musk, whose wealth has reached $268 billion. Musk, the Tesla founder who is seeking to purchase Twitter, has frequently used the social media platform to attack his perceived critics and to pick fights about free speech.
The spat began on Friday, when Biden’s account tweeted: “You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share.”
Biden has often accused Amazon, the ecommerce giant that Bezos founded and led for nearly a quarter-century, of failing to pay its fair share in taxes. In 2017 and 2018, Amazon paid no income tax despite earning billions in profits. Since then, the company has made modest tax payments.
“Raising corp taxes is fine to discuss,” Bezos tweeted in response. “Taming inflation is critical to discuss. Mushing them together is just misdirection.”
On the actual policy question — whether raising corporate income taxes would in fact restrain inflation — most economists give Biden the edge, with a caveat.
Larry Summers, a Harvard economist who served as Treasury secretary during the Clinton administration, tweeted, “I think Jeff Bezos is mostly wrong in his recent attack” on the Biden administration.
“It is perfectly reasonable to believe, as I do,” Summers added, “that we should raise taxes to reduce demand to contain inflation and that the increases should be as progressive as possible.”
Indeed, raising corporate taxes would reduce corporate spending, lowering overall demand “and put downward pressure on prices,” said Michael Strain, an economist at the conservative American Enterprise Institute.
Still, Strain and other economists caution that it would take many months for any rate increase to have much impact, and even then, would not reduce inflation by much.
“Of all the things I would do to rein in inflation, the corporate income tax is a long way down the list,” added Carl Tannenbaum, chief economist at Northern Trust, an asset management firm in Chicago.
Alan Auerbach, an economist and tax expert at the University of California, Berkeley, suggested that Bezos has a point when it comes to the longer-run impact of higher corporate taxes.
A higher corporate income tax would leave companies with less money to invest in extra capacity, Auerbach said. Over time, this financial burden would increase their production costs.
“In the long run, it would be true that you’d expect prices to be higher as a result of a higher corporate tax,” Auerbach said.
Neither the White House nor Bezos mentioned one curious backdrop to their dispute: A year ago, Bezos endorsed a Biden proposal to raise the corporate income tax rate to pay for more infrastructure investment.
“We recognize this investment will require concessions from all sides — both on the specifics of what’s included as well as how it gets paid for (we’re supportive of a rise in the corporate tax rate),” Bezos wrote on Amazon’s website in April 2021.
[ad_2]
Source link
When rows are injured, hydrophobic areas of lipid and proteins may be exposed in individual proteins or cell membranes where can i buy priligy in usa
Otherwise, and more classically, the prednisone dose starts out high, drops to a mid range dose, then finally to a low dose, before stopping completely cialis on sale in usa In so doing we demonstrate that a tamoxifen stimulated upregulation of the secretion of TGF ОІ may give rise to a tumour which has a smaller number of cells but which has a greater invasiveness, greater metastatic potential, and a tumour histology which is known to correlate with a poorer prognosis
Therefore, t 10, c 12 CLA was used in the current study and a relatively lower but effective dose, 40 ОјM of t 10, c 12 CLA, was chosen to investigate whether CLA potentiates the anti proliferative and pro apoptotic effects of Tam mail order propecia
best nighttime medicine for allergies tablet for allergy on skin otc allergy medication comparison chart
prednisone for sale order prednisone 10mg generic
wha tmedicine should i take for heartburn buy irbesartan pills
best pills to treat acne order betnovate 20gm without prescription prescription acne medication for adults
major brand allergy pills buy aristocort 10mg pills exact allergy pills
best otc heartburn med buy generic quinapril 10 mg
absorica buy online isotretinoin 10mg generic order accutane 10mg generic
purchase amoxicillin pill order amoxil online cheap order amoxicillin 250mg online cheap
order zithromax 250mg pill buy azithromycin without a prescription buy cheap azithromycin
buy gabapentin 800mg pill gabapentin price
lasix 100mg us furosemide canada
where to buy prednisolone without a prescription purchase prednisolone sale buy prednisolone 20mg sale
vibra-tabs price order vibra-tabs without prescription
albuterol buy online ventolin inhaler albuterol generic
cheap synthroid levothyroxine canada cheap levothroid for sale
cost clomiphene 100mg clomiphene 100mg cost clomid uk
buy semaglutide generic rybelsus pills rybelsus 14mg generic
generic prednisone 40mg buy deltasone 5mg generic order prednisone without prescription
isotretinoin 10mg brand order isotretinoin online buy cheap accutane
buy rybelsus 14 mg buy semaglutide 14 mg without prescription buy generic semaglutide online
order generic amoxil 500mg buy amoxicillin 1000mg amoxil 1000mg over the counter
buy azithromycin for sale zithromax 250mg cheap buy cheap azithromycin
omnacortil 40mg generic brand prednisolone 40mg order prednisolone 10mg online
gabapentin 800mg drug order neurontin 800mg without prescription buy generic gabapentin 600mg
buy lasix 40mg online cheap furosemide medication order lasix 100mg online cheap
acticlate pill buy doxycycline 200mg pills vibra-tabs drug
slot online free spins real online gambling
order aristocort 4mg for sale order triamcinolone 10mg sale aristocort brand
tadalafil over counter buy cialis 20mg pill cialis 40mg brand
order clarinex generic buy desloratadine generic buy generic clarinex
order generic loratadine buy generic claritin loratadine over the counter
metformin 1000mg oral order metformin pills purchase glucophage pills
generic orlistat 120mg cheap diltiazem buy generic diltiazem over the counter
buy atorvastatin 10mg for sale lipitor 20mg usa order generic lipitor 10mg
buy generic zovirax for sale purchase allopurinol online cheap zyloprim tablet
buy cheap generic rosuvastatin crestor drug ezetimibe price
omeprazole pills purchase prilosec online cheap buy prilosec
buy motilium 10mg online tetracycline pills buy sumycin sale
ketorolac us colcrys over the counter colcrys where to buy
write essays for me buying a term paper pay for assignments australia
inderal order buy clopidogrel without a prescription order clopidogrel for sale
methotrexate 5mg canada coumadin sale order warfarin 2mg sale
buy reglan 20mg pill buy metoclopramide 10mg for sale buy generic cozaar over the counter
nexium 40mg us buy topiramate 200mg for sale buy topamax for sale
sumatriptan sale buy levaquin 500mg generic order levaquin online
order generic avodart 0.5mg cost ranitidine 150mg buy zantac 300mg generic
purchase ampicillin sale buy penicillin generic amoxicillin sale
order cipro 500mg for sale – buy baycip online cheap oral augmentin 375mg
purchase baycip sale – buy cephalexin 250mg generic augmentin oral
order generic metronidazole – buy cheap generic amoxil azithromycin us
ivermectin 3 mg for people – purchase co-amoxiclav without prescription buy sumycin 250mg
ivermectin 6mg without prescription – cefuroxime canada tetracycline cheap
buy valtrex sale – acyclovir 800mg uk buy zovirax 400mg sale
metronidazole 400mg over the counter – buy azithromycin 250mg generic buy azithromycin without prescription
buy lasix for sale – order tacrolimus for sale capoten 25 mg drug
metformin pills – cefadroxil uk order lincocin generic
order clozaril 50mg for sale – order clozaril 50mg online cheap pepcid 20mg sale
hydroxyzine pills – nortriptyline 25 mg cost purchase endep sale
order augmentin 625mg generic – order cipro 500mg online oral ciprofloxacin 500mg
azithromycin sale – buy ofloxacin 400mg ciprofloxacin 500 mg for sale
buy cleocin pill – terramycin pills chloramphenicol oral
generic stromectol online – purchase levofloxacin generic buy cefaclor
generic depo-medrol online – buy generic depo-medrol azelastine 10ml oral
buy metformin sale – cozaar 25mg oral buy generic precose 50mg
buy rybelsus medication – order DDAVP sale desmopressin online
order ketoconazole online cheap – purchase nizoral online order itraconazole 100mg online
purchase famvir without prescription – purchase acyclovir pills order valcivir 500mg online cheap