<p>Amazon chief Jeff Bezos lashed at US President Joe Biden over the latter’s tweet about taxing the large corporations to bring down the inflation.</p>

<p>The strong retort from the billionaire came a day after Biden in his tweet suggested that the only way inflation could be tamed is by charging the large corporation.</p>

<p>“You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share,” Biden tweeted on early Saturday morning.</p>

<p>To which Bezos in a sly remark suggested that the tweet could be considered disinformation.</p>

<p>“The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead," Bezos said, referring to Homeland Security's Disinformation Governance Board that was announced in April.</p>

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<p dir="ltr" lang="en">The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead. Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection. <a href="https://t.co/ye4XiNNc2v">https://t.co/ye4XiNNc2v</a></p>
— Jeff Bezos (@JeffBezos) <a href="https://twitter.com/JeffBezos/status/1525309091970699265?ref_src=twsrc%5Etfw">May 14, 2022</a></blockquote>
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<p>"Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection," Bezos continued.</p>

<p>One of the major promises of Biden’s 2023 budget plan has been to tax the ultra-wealthy and cash-rich corporations.</p>

<p>Amazon, the company founded by Bezos, has long been accused of not paying its fair share of taxes. The company paid no federal income taxes in 2017 and 2018, according to reports.</p>

<p>Bezos has reportedly paid nothing in federal income taxes in 2007 and 2011.</p>

<p><strong>Also read |</strong>&nbsp;<a href="https://www.wionews.com/trending/defying-death-jeff-bezos-other-big-tech-founders-fund-startups-doing-anti-aging-research-446362">Defying death: Jeff Bezos, other big tech founders fund startups doing anti-aging researc</a>h</p>

<p>Before Bezos, it was Tesla chief Elon Musk who had opposed Biden’s proposal to tax the top one-hundredth of one per cent (0.01 per cent) of American households worth over $100 million.</p>

<p><strong>Also read |&nbsp;</strong><a href="https://www.wionews.com/world/jeff-bezos-loses-billions-as-amazon-shares-slump-wall-street-tumbles-475071">Jeff Bezos loses billions as Amazon shares slump; Wall Street tumbles</a></p>

<p>The White House estimates that the proposed tax would increase the revenue by $360 billion over ten years.</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE</strong></p>

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Amazon chief Jeff Bezos lashed at US President Joe Biden over the latter’s tweet about taxing the large corporations to bring down the inflation. The strong retort from the billionaire came a day after Biden in his tweet suggested that the only way inflation could be tamed is by charging the large corporation.

Amazon chief Jeff Bezos lashed at US President Joe Biden over the latter’s tweet about taxing the large corporations to bring down the inflation. The strong retort from the billionaire came a day after Biden in his tweet suggested that the only way inflation could be tamed is by charging the large corporation. “You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share,” Biden tweeted on early Saturday morning. To which Bezos in a sly remark suggested that the tweet could be considered disinformation. “The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead," Bezos said, referring to Homeland Security's Disinformation Governance Board that was announced in April. The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead. Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection. https://t.co/ye4XiNNc2v — Jeff Bezos (@JeffBezos) May 14, 2022 × "Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection," Bezos continued. One of the major promises of Biden’s 2023 budget plan has been to tax the ultra-wealthy and cash-rich corporations. Amazon, the company founded by Bezos, has long been accused of not paying its fair share of taxes. The company paid no federal income taxes in 2017 and 2018, according to reports. Bezos has reportedly paid nothing in federal income taxes in 2007 and 2011. Also read | Defying death: Jeff Bezos, other big tech founders fund startups doing anti-aging research Before Bezos, it was Tesla chief Elon Musk who had opposed Biden’s proposal to tax the top one-hundredth of one per cent (0.01 per cent) of American households worth over $100 million. Also read | Jeff Bezos loses billions as Amazon shares slump; Wall Street tumbles The White House estimates that the proposed tax would increase the revenue by $360 billion over ten years. (With inputs from agencies) WATCH WION LIVE HERE ×

Amazon's Bezos slams US Prez Biden over his tweet on taxing rich corps to tame inflation

<p>Singapore will increase the personal income tax rate for high-income individuals, as well as make changes to property taxes and impose a new fee on luxury cars.</p>

<p>These new taxes are part of Finance Minister Lawrence Wong's "significant upgrades" to Singapore's tax framework, which he outlined in his Budget 2022 statement on Friday (Feb 18).&nbsp;</p>

<p>In his speech, Wong outlined a number of short- and long-term actions to continue investing in the economy and workers while also strengthening the social contract.</p>

<p>As a result, he said, tax adjustments are required to satisfy the demand for greater income to bring these projects to fruition.&nbsp;</p>

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<h5>Those with chargeable income in excess of S$500,000 and up to S$1 million will be taxed at 23 per cent, up from the current 22 per cent levied on income in excess of S$320,000.For chargeable income in excess of S$1 million, the personal income tax rate will go up to 24 per cent from the existing 22 per cent.</h5>
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<p>Among the measures, the government plans to raise the Goods and Services Tax (GST) to 9 per cent.</p>

<p>The moves come as Singapore emerges from a pandemic-induced economic slump, but walks a tight rope in maintaining its attractiveness as a global financial hub while guarding against local concerns about rising wealth inequality and rising costs of living.</p>

<p>Singapore has been seeking to raise revenues to fund future spending that it estimates could reach more than 20% of gross domestic product (GDP) by 2030, especially as its ramps up spending on healthcare in one of the fastest ageing countries.</p>

<p>The government has spent about S$100 billion in the last two years to protect its people, businesses, and economy against the effects of the COVID-19 epidemic.</p>

<p>As part of his budget recommendations, Wong unveiled a further S$500 million ($372 million) package to boost jobs and businesses, as well as a proposal to set aside S$560 million to help Singaporeans cope with growing living costs.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>


Singapore will increase the personal income tax rate for high-income individuals, as well as make changes to property taxes and impose a new fee on luxury cars. These new taxes are part of Finance Minister Lawrence Wong's "significant upgrades" to Singapore's tax framework, which he outlined in his Budget 2022 statement on Friday (Feb 18).

Singapore will increase the personal income tax rate for high-income individuals, as well as make changes to property taxes and impose a new fee on luxury cars. These new taxes are part of Finance Minister Lawrence Wong's "significant upgrades" to Singapore's tax framework, which he outlined in his Budget 2022 statement on Friday (Feb 18). In his speech, Wong outlined a number of short- and long-term actions to continue investing in the economy and workers while also strengthening the social contract. As a result, he said, tax adjustments are required to satisfy the demand for greater income to bring these projects to fruition. Those with chargeable income in excess of S$500,000 and up to S$1 million will be taxed at 23 per cent, up from the current 22 per cent levied on income in excess of S$320,000.For chargeable income in excess of S$1 million, the personal income tax rate will go up to 24 per cent from the existing 22 per cent. × Among the measures, the government plans to raise the Goods and Services Tax (GST) to 9 per cent. The moves come as Singapore emerges from a pandemic-induced economic slump, but walks a tight rope in maintaining its attractiveness as a global financial hub while guarding against local concerns about rising wealth inequality and rising costs of living. Singapore has been seeking to raise revenues to fund future spending that it estimates could reach more than 20% of gross domestic product (GDP) by 2030, especially as its ramps up spending on healthcare in one of the fastest ageing countries. The government has spent about S$100 billion in the last two years to protect its people, businesses, and economy against the effects of the COVID-19 epidemic. As part of his budget recommendations, Wong unveiled a further S$500 million ($372 million) package to boost jobs and businesses, as well as a proposal to set aside S$560 million to help Singaporeans cope with growing living costs. (With inputs from agencies)

Singapore to hike taxes on ultra-rich to raise revenue for post-COVID future

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Amazon's Bezos slams US Prez Biden over his tweet on taxing rich corps to tame inflation

Singapore to hike taxes on ultra-rich to raise revenue for post-COVID future