Bezos called for the complete elimination of taxes on low-income Americans — CNBC
Amazon CEO Jeff Bezos has proposed completely eliminating federal income tax for the bottom half of U.S. taxpayers.
The American billionaire voiced his position on the popular CNBC program “Squawk Box.”
In his view, such a move would help millions of citizens who are currently in a difficult financial situation due to economic instability.
The entrepreneur cited statistics regarding the current distribution of the tax burden in the country.
“The top 1% of taxpayers pay about 40% of all tax revenue, while the bottom half pays 3%. I don’t think it should be 3%. I believe it should be zero,” he emphasized on “Squawk Box.”
According to Bezos, the money paid by low-income earners is an absolutely “insignificant amount for the government.”
To illustrate his point, the businessman gave a hypothetical example of a healthcare worker who earns $75,000 a year.
“We shouldn’t be asking this nurse from Queens to send money to Washington. They should be sending her an apology. It really doesn’t make sense,” the American entrepreneur believes.
He added that he would actively “advocate for” such a change, though he has not yet provided specific details on the mechanisms through which lawmakers could officially adopt it.
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