One of the world’s richest people, Jeff Bezos came out in favor of President Joe Biden’s idea to rebuild the United States’ crumbling infrastructure. On Tuesday, he said that his company was “supportive of a rise in the corporate tax rate” that would help pay for it. “We support the Biden Administration's focus on making bold investments in American infrastructure,” the billionaire said. Bezos’ statement, posted on the company’s website, comes only days after Biden criticized the online retail giant, saying it paid “zero in federal taxes.” Biden pledged to “put an end to that” and hike US corporate tax rate to 28% from 21% to help fund the $2.3 trillion (€1.94 trillion) infrastructure initiative . Why did Biden single out Amazon? Calls are increasing worldwide to ensure that Amazon pays more in taxes. Last month, Biden cited a 2019 study showing 91 Fortune 500 companies, “the biggest companies in the world, including Amazon… pay not a single, solitary penny of federal income tax ,” adding, “That is just wrong.” However, Biden’s claims did not appear to be fully up-to-date. Since 2019, the Seattle-based company became even more profitable and has therefore paid some taxes. Last year, Amazon reportedly handed over $1.7 billion in federal taxes on… Read full this story
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