Amazon’s founder and CEO Jeff Bezos issued a statement on Tuesday night saying that he generally supports President Joe Biden’s desire to invest in infrastructure and increase corporate tax rates. But certain things that Bezos did not support in his statement were obvious in his absence.
Bezos said in a statement: “We support the Biden administration’s attention to bold investments in US infrastructure.” onlineWhen he said “we”, it was probably “Amazon”.
Bezos continued: “In the past, Democrats and Republicans supported infrastructure. Now is the right time to work together to achieve this goal.”
But Bezos, he is reportedly worth $193 billion, Not explicitly recognized US$2 trillion The infrastructure plan currently under discussion is replaced by the choice of “both parties” must make concessions to complete a certain job.
Bezos said: “We think this investment will require concessions from all parties-including tax incentives and details on how to pay (we support the increase in corporate tax rates).” “We look forward to Congress and the government working together to find ways to maintain or enhance The right and balanced solution for American competitiveness.”
The Trump regime’s huge tax bill currently reduces the top corporate tax rate by 21% from 35%, and the bill provided assistance to millionaires, billionaires and businesses in 2017. Bezos said he supports higher tax rates, but he did not specify how high.
Large companies are not excited about general taxation, so it is not surprising that many new American companies refute Biden’s infrastructure plans, even if some companies complain about American infrastructure. political. Large companies are also complaining behind the scenes that Treasury Secretary Janet Yellen wants to join major wealthy countries at the lowest corporate tax rate, which will level the competition and prevent international companies from looking for tax havens.
Executives often say that their corporate tax rate can reach around 25% (groups like the Business Roundtable have previously supported this tax rate), but only if the deductions are restored and there is no need for extensive international reforms .
“When we reformed the tax system, I think the 21% figure was incorrect. A 25% equity is where you might reach a lot of consensus.” The CEO of one of the world’s largest financial companies said on condition of anonymity. Said next. “It’s not the rate, but all other factors will make us less competitive on a global scale. If we do this, the work will go.”
Everyone wants to have a smooth road, fast Internet all over the country, and bridges that will not fall randomly, but large companies hope that this can be achieved without paying taxes. Unfortunately, without taxes, you will not be able to get those good things. Anonymous CEOs can say that all they want is “this is not a rate” but a rate. They don’t want to pay higher taxes, they will do everything they can to stop them.