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Inflation is the ‘top problem’ facing America, survey shows

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A employee stocks items inside a food market 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 deal with the problem.

A Twitter exchange between Biden and Amazon founder Jeff Bezos began on Friday when the president tweeted: “You must bring down inflation? Let’s ensure that the wealthiest corporations pay their justifiable share.”

Quoting Biden’s tweet, Bezos responded: “Raising corp taxes is high quality to debate. Taming inflation is critical to debate. 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 with regards to economics might be never going to be wildly popular with billionaires for the straightforward reason that he is asking on them to pay their justifiable share,” he said.

“With the suitable kind of public investments, we will go after a few of the things that we all know are contributing to inflationary pressures,” Buttigieg added.

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