• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
PoliticsInflation

Jeff Bezos says don’t blame the wealthy for high inflation and the White House is using distraction tactics. ‘Look, a squirrel’

By
Colin Lodewick
Colin Lodewick
Down Arrow Button Icon
By
Colin Lodewick
Colin Lodewick
Down Arrow Button Icon
May 16, 2022, 6:03 PM ET

On Friday, Amazon founder and the second-richest man in the world Jeff Bezos escalated a days-long war of words with the White House over whether corporations are a leading cause of high inflation. 

Bezos, whose Twitter presence until recently was limited to Amazon-specific content along with updates on his space exploration ventures, only began to use the platform to express political ideology in recent months, and in mid-May he began increasingly taking aim at the Biden administration.

The root of the issue seems to be a May 13 tweet from President Joe Biden’s account that proposed increasing taxes on wealthy corporations to rein in inflation. 

That day, Bezos accused Biden of “misdirection” on Twitter. “Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection,” he wrote.

On Monday, Bezos kept up his critique. “Look, a squirrel!” he tweeted, adding that “They [the White House] understandably want to muddy the topic. They know inflation hurts the neediest the most. But unions aren’t causing inflation and neither are wealthy people.” He went on to write that inflation would be even higher now if Biden had succeeded in passing his multitrillion-dollar Build Back Better agenda.

This puts Bezos in the camp of so-called centrists such as Sen. Joe Manchin, the Democratic senator from West Virginia who spiked Build Back Better because it was too expensive. Manchin was unmoved by arguments that the legislation’s child tax credit would cut child poverty in half. 

‘Amazon here we come’

Bezos had previously argued, again on Twitter, that Biden’s government was just spending too much money. “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,” he tweeted on Sunday. 

Monday’s comments came in response to White House spokesperson Andrew Bates criticizing him in a statement to The Washington Post’s Jeff Stein:

“It doesn’t require a huge leap to figure out why one of the wealthiest individuals on Earth opposes an economic agenda for the middle class that cuts some of the biggest costs families face, fights inflation for the long haul, and adds to the historic deficit reduction the President is achieving by asking the richest taxpayers and corporations to pay their fair share. It’s also unsurprising that this tweet comes after the President met with labor organizers, including Amazon employees.”

Last month, the independent Amazon Labor Union (ALU) successfully unionized the first Amazon warehouse in the U.S. ALU president Chris Smalls, a former Amazon worker who was fired for allegedly violating health and safety protocols while protesting against unsafe working conditions at the start of the pandemic, has since met with Biden and testified in front of the Senate budget committee. 

While meeting with Smalls, Biden also met with union leaders from Workers United, the union seeking to represent Starbucks workers across the country. In response, Starbucks’ senior vice president of global communications AJ Jones II sent a letter to Biden’s general counsel Steve Ricchetti after the meeting: “We are deeply concerned that Workers United…was invited to the meeting while not inviting official Starbucks representatives, to discuss our view on the matter.”

In a speech in early April at the legislative conference for North America’s Building Trades Unions (NABTU), a department of the AFL-CIO, Biden referenced ALU’s win the week before: “Amazon here we come.”

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.

About the Author
By Colin Lodewick
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

crew aboard artemis II
Innovationspace
‘It’s 13 minutes of things that have to go right’: Artemis II splashes down despite faulty heat shield
By Catherina GioinoApril 10, 2026
3 hours ago
The Navy confirmed an ‘abundant amount’ of Uncrustables when the Artemis II crew lands. Smucker’s just offered them a lifetime supply
PoliticsFood and drink
The Navy confirmed an ‘abundant amount’ of Uncrustables when the Artemis II crew lands. Smucker’s just offered them a lifetime supply
By Catherina GioinoApril 10, 2026
5 hours ago
Iran is demanding tankers in the Strait of Hormuz pay tolls in crypto: What we know so far
CryptoIran
Iran is demanding tankers in the Strait of Hormuz pay tolls in crypto: What we know so far
By Ben WeissApril 10, 2026
8 hours ago
Kash Patel sits with his two fingers on lips
CybersecurityIran
First they went after medtech, then Kash Patel. Iranian hackers’ next target is likely ‘low-hanging fruit’ in water, energy, and tourism, experts say
By Jacqueline MunisApril 10, 2026
8 hours ago
kamala
PoliticsElections
Kamala Harris says she’s ‘thinking about’ running for president again: ‘I’ll keep you posted’
By Steve Peoples, Matt Brown and The Associated PressApril 10, 2026
10 hours ago
A young man looks at his phone, and a flurry of red arrows point downwards.
Cryptosports betting
Prediction markets have made betting easier than ever—and young men are paying the price
By Carlos GarciaApril 10, 2026
10 hours ago

Most Popular

A Meta employee created a dashboard so coworkers can compete to be the company's No. 1 AI token user—and Zuckerberg doesn't even rank in the top 250
AI
A Meta employee created a dashboard so coworkers can compete to be the company's No. 1 AI token user—and Zuckerberg doesn't even rank in the top 250
By Fortune EditorsApril 9, 2026
2 days ago
The U.S. government is spending $88 billion a month in interest on national debt—equal to spending on defense and education combined
Economy
The U.S. government is spending $88 billion a month in interest on national debt—equal to spending on defense and education combined
By Fortune EditorsApril 9, 2026
2 days ago
Mark Cuban admits he made a mistake letting go of the Mavericks: 'I don't regret selling. I regret who I sold to'
Investing
Mark Cuban admits he made a mistake letting go of the Mavericks: 'I don't regret selling. I regret who I sold to'
By Fortune EditorsApril 9, 2026
1 day ago
Schools across America are quietly admitting that screens in classrooms made students worse off and are reversing years of tech-first policies
Innovation
Schools across America are quietly admitting that screens in classrooms made students worse off and are reversing years of tech-first policies
By Fortune EditorsApril 10, 2026
19 hours ago
Scottie Scheffler joined Tiger Woods and Rory McIlroy in golf's $100M club—and donated his entire Ryder Cup stipend to charity
Success
Scottie Scheffler joined Tiger Woods and Rory McIlroy in golf's $100M club—and donated his entire Ryder Cup stipend to charity
By Fortune EditorsApril 10, 2026
11 hours ago
'I hate working 5 days': Zoom CEO says traditional work schedules are becoming obsolete—and predicts a 3-day workweek by 2031
Success
'I hate working 5 days': Zoom CEO says traditional work schedules are becoming obsolete—and predicts a 3-day workweek by 2031
By Fortune EditorsApril 9, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.