Jeff Bezos, the founder and CEO of Amazon, released a statement on Tuesday evening saying that 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 Bezos does not state in the statement are obvious in their absence.
“We support the Biden administration’s focus on bold investment in US infrastructure,” Bezos said in a statement. online, probably assuming “Amazon” when it says “we”.
“Both Democrats and Republicans have supported the infrastructure in the past, and it’s time to work together to make it happen,” Bezos said.
But Bezos, that would have been worth it $ 193 billion, has ceased to accept specifically 2 trillion dollars the infrastructure plan that is currently on the table, choosing instead to say that there must be concessions “on both sides” to do something.
“We recognize that this investment will require concessions from all sides – both in terms of the specifics of what is included and how it is paid (we support an increase in the corporate tax rate),” Bezos said. “We look forward to Congress and the Administration coming together to find the right and balanced solution to maintain or increase US competitiveness.”
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The maximum corporate tax rate is currently reduced by 21% from 35%, thanks to the massive tax bill of the Trump regime, which acted as a helping hand for millionaires, billionaires and corporations in 2017. And while Bezos says that he supports a higher tax rate, he did not “specify how high.
Big Business isn’t enthusiastic about taxes in general, so it’s no wonder many other U.S. companies are fighting Biden’s infrastructure plan, even though some companies are complaining about U.S. infrastructure, according to a new political. Large companies are also groping behind the scenes about Treasury Secretary Janet Yellen’s desire to bring rich major nations on board with a minimum corporate tax that would equate to the conditions of competition and prevent international companies from buying tax havens.
Of the Policy:
Executives often say they could live on a corporate tax rate of about 25 percent – which groups like the Business Roundtable previously supported – but only with restored deductions and without much of the international reform.
“I did not think that 21 percent is the right number when we made the tax reform. And 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, provided they are not appointed. “It’s not the rate, it’s all the other things that would make us less competitive around the world. And jobs will disappear if we do these things. ”
Everyone wants beautiful roads, fast internet across the country and bridges that don’t fall randomly, but big corporations would like this to happen without paying taxes. Unfortunately, you can’t get those beautiful things for free. And anonymous CEOs can say “it’s not the rate” all they want, it’s the rate. They do not want to pay higher taxes and will do everything they can to stop them.