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STORY: The war of words between Jeff Bezos and the White House escalated on Monday, with the two sparring over the Biden administration’s handling of inflation and its plans to tax the rich.

The latest round began when the Amazon CEO accused President Biden in a Friday tweet of misleading the public when Biden said that raising corporate taxes would help bring down inflation.

That was followed by a weekend tweet in which the billionaire slammed Biden for (quote) “trying to inject even more stimulus into an already over-heated, inflationary economy.”

On Monday, the White House hit back with an unusually personal jab - suggesting that Bezos was trying to protect his wealth and undermine labor unions.

In a statement, White House spokesperson Andrew Bates said (quote), "It doesn't require a huge leap to figure out why one of the wealthiest individuals on Earth opposes an economic agenda for the middle class that cuts some of the biggest costs families face, fights inflation for the long haul, and adds to the historic deficit reduction the president is achieving by asking the richest taxpayers and corporations to pay their fair share. It's also unsurprising that this tweet comes after the President met with labor organizers, including Amazon employees."

Bezos responded Monday by saying the administration was trying to distract from stimulus policies that stoked inflation, tweeting (quote), “They understandably want to muddy the topic. They know inflation hurts the neediest the most. But unions aren't causing inflation and neither are wealthy people."

The back-and-forth between the White House and one of the world’s richest men comes after Biden attacked Amazon for paying too little in federal taxes and has shown support for workers seeking to unionize some of Amazon’s employees.

BIDEN, FROM APRIL 6: “By the way, Amazon here we come! [cheers, applause] Watch... watch!”

Biden has been under growing pressure to stem inflation, which has risen to near 40-year highs… and some economists think that raising certain taxes could ease price pressures.

But so far the President’s plan to make corporations and billionaires like Bezos pay more has fallen short of securing the necessary support in Congress.