Jeff Bezos scolds Joe Biden for telling oil companies to stop price hikes at gas pumps

The champion of ultra-wealthy Amazon founder Jeff Bezos has attacked President Joe Biden for suing oil companies for forcing American consumers at the gas pump.

And the White House came back with some burns.

Biden called out executives of oil companies that run gas stations in a tweet on Saturday: “This is a time of war and global danger. Decrease the price you charge at the pump to reflect the cost you pay for the product. And do it now.”

“Ow. Inflation is far too important a problem for the White House to continue making statements like this,” he tweeted. “It’s either a direct deception or a profound misunderstanding of fundamental market dynamics.”

Actually, it’s neither, the White House hit back.

White House Press Secretary Karine Jean-Pierre taught Bezos in a replying tweet that gas prices are still high even as oil prices fall — disproving his claim of inevitable “market dynamics” (unless those “dynamics” should include price gouging).

“I think it’s not surprising that you think that oil and gas companies that use market power to make record profits at the expense of the American people is the way our economy should work,” Jean-Pierre quipped.

Twitter wags loved the Bezos hue.

The last time Bezos was this mad at the president was in May when Biden said companies… pay their fair share of taxes (their taxes were cut by 40% during the Trump administration) to help fight inflation.

Bezos complained that underpaying taxes would have no effect on the country’s current high inflation. He called on Twitter’s “Disinformation Board” to investigate Biden’s message, alleging the president inaccurately linked higher corporate taxes to lowering inflation.

Higher corporate taxes, economists say, can lower inflation by tackling an overheated economy that causes inflation.

More money in corporate coffers could also help provide relief to those suffering in a post-inflation, cooling economy, for example by expanding or increasing the amount of unemployment benefits.

Amazon has also paid extremely low taxes in relation to its enormous income and wealth. It paid no federal taxes for 2018 by claiming a $129 million discount on $11 billion in profits. It was one of 60 of some of the largest publicly traded companies that did not pay taxes that year.

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