Jeff Bezos, Amazon’s founder and CEO, issued a statement Tuesday night saying he generally supports President Joe Biden’s desire to invest in infrastructure, along with an increase in the corporate tax rate. But some of the things that Bezos does not support in the statement are evident in his absence.
“We support the Biden Administration’s focus on making bold investments in American infrastructure,” Bezos said in a released statement. onlineYou probably mean “Amazon” when you say “we”.
“Both Democrats and Republicans have supported infrastructure in the past, and the time is right to work together to make this happen,” Bezos continued.
But Bezos, supposedly worth it $ 193 billion, failed to specifically endorse the $ 2 trillion infrastructure plan that is currently on the table, rather than choosing to say that there must be concessions “from both sides” to do something.
“We recognize that this investment will require concessions from all sides, both in the specifics of what is included and how it is paid for (we support an increase in the corporate tax rate),” said Bezos. “We hope that Congress and the Administration will come together to find the correct and balanced solution that will maintain or improve America’s competitiveness.”
The top corporate tax rate is currently lowered by 21% from 35% in the Trump regime’s huge tax bill that acted as a gift to millionaires, billionaires and corporations in 2017. And while Bezos says he supports a tax rate highest tax, don’t specify how high.
Big companies are not enthusiastic about taxes in general, so it is not surprising that many other American companies are fighting against Biden’s infrastructure plan, even as some companies complain about the US infrastructure, according to a new report Politician. Big business is also complaining behind the scenes about Treasury Secretary Janet Yellen’s desire for major wealthy nations to join in a corporate minimum tax that levels the playing field and prevents international companies from seeking tax havens.
Executives often say they could live with a corporate tax rate of around 25 percent, which groups like the Business Roundtable previously supported, but only with the deductions restored and without much of the international reform.
“I did not think that 21 percent was the correct number when we did the tax reform. And the 25 percent is a place where you could probably get a lot of consensus, ”said the CEO of one of the world’s largest financial firms on the condition that he is not identified. “It’s not the rate, it’s all the other things that would make us less competitive around the world. And the jobs will disappear if we do these things. “
Everyone wants nice roads, fast internet across the country, and bridges that don’t fall randomly, but big corporations would like that to happen without paying taxes. Unfortunately, you can’t get those nice things without taxes. And anonymous CEOs can say “not the rate” all they want, but it is the rate. They don’t want to pay higher taxes and will do everything they can to stop them.