Amazon founder and CEO Jeff Bezos released a statement on Tuesday saying he generally supports President Joe Biden’s willingness to invest in infrastructure, as well as an increase in the corporate tax rate. But some of the things Bezos doesn’t support in the statement are notable in their absence.
“We support the Biden administration’s drive to make bold investments in US infrastructure,” Bezos said in a released statement. online, presumably meaning “Amazon” when it says “us”.
“Democrats and Republicans have supported infrastructure in the past, and now is a good time to work together to make it happen,” Bezos continued.
But Bezos, who is worth it $ 193 billion, stopped before specifically approving the 2 billions de dollars infrastructure plan that is currently on the table, choosing instead to say that there must be concessions “on both sides” to get things done.
“We recognize that this investment will require concessions from all sides, both on the details of what is included and how it is paid (we are in favor of an increase in the corporate tax rate),” Bezos said. “We look forward to Congress and the Administration come together to find the right balanced solution that maintains or enhances the competitiveness of the United States.”
The highest corporate tax rate is currently 21% reduced by 35% by the huge Trump administration tax bill that served as a document to millionaires, billionaires and businesses in 2017. And while Bezos says that he supports a higher tax rate, he does not. t specify at what height.
Large corporations aren’t keen on taxes in general, so it’s no surprise that many other U.S. companies are fighting Biden’s infrastructure plan, even though some companies are complaining about U.S. infrastructure, according to a news report. report of Politico. Big business is also complaining behind the scenes about Treasury Secretary Janet Yellen’s drive to get big, wealthy nations to join with a minimum corporate tax that would level the playing field and prevent international companies from seeking tax havens.
Executives often say they could live with a corporate tax rate of around 25% – which groups like the Business Roundtable previously supported – but only with reinstated deductions and without much of the international reform.
“I didn’t think 21% was the right number when we brought in 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 on condition of not being named. “It’s not the rate, it’s all the other things that would make us less competitive in the world. And the jobs will disappear if we do these kinds of things. “
Everyone wants great roads, fast internet access across the country, and bridges that don’t fall by chance, but big companies would like it to happen without paying taxes. Unfortunately, you can’t get these nice things tax free. And anonymous CEOs can say “it’s not the rate” all they want, but it’s the rate. They don’t want to pay more taxes and will do whatever they can to stop them.