A worker stocks items inside a grocery store in San Francisco, California, May 2, 2022.
David Paul Morris | Bloomberg | Getty Images
Meanwhile, President Joe Biden also has faced blowback over continued inflation and plans to address the issue.
A Twitter exchange between Biden and Amazon founder Jeff Bezos began on Friday when the president tweeted: “You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share.”
Quoting Biden’s tweet, Bezos responded: “Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection.”
Bezos further criticized the White House’s strategy in a tweet on Sunday, saying the $ 1.9 trillion American Rescue Plan, signed into law last March, contributed to the spike in inflation. He also commented how the rising prices are hardest on poor families.
Transportation Secretary Pete Buttigieg responded to Bezos’ criticism of the administration’s inflation policy on Monday on CNBC’s “Squawk Box.”
“The president’s theory of the case when it comes to economics is probably never going to be wildly popular with billionaires for the simple reason that he is calling on them to pay their fair share,” he said.
“With the right kind of public investment, we can go after some of the things that we know are contributing to inflationary pressures,” Buttigieg added.