Jeff Bezos calls for zero income taxes on bottom half of earners: 'Stop taxing them'

Amazon founder Jeff Bezos said Wednesday the bottom half of earners should pay zero federal income taxes – arguing it’s unnecessary for struggling families to cough up their hard-earned dough in the wealthiest country in the world.Speaking to Andrew Ross Sorkin on CNBC’s “Squawk Box,” the billionaire called for changes to the US tax system, which he said sees the top 1% of taxpayers pay 40% of all tax revenue and the bottom half contribute 3%.That’s in keeping with official figures.“I don’t think it should be 3%,” Bezos asserted.

“I think it should be zero.”“When people are starting out and they’re struggling, stop taxing them.We don’t need it.

We live in the wealthiest country in the world.”He said income taxes paid by lower earners represent “a small amount of money for the government,” nodding to the hypothetical taxes paid by a healthcare worker who earns $75,000 annually.“We shouldn’t be asking this nurse in Queens to send money to Washington,” he said.“They should be sending her an apology.

It really makes no sense.”When asked about his relationship with President Trump, Bezos said he has worked with every commander-in-chief since Bill Clinton and that he would “advocate” for the change, though he didn’t specify how lawmakers might start slashing taxes.In 2023, the bottom half of taxpayers had an adjusted gross income of nearly $54,000 – while those in the top 1% earned at least $676,000, according to a Tax Foundation analysis citing IRS data.More than 76 million households made up the bottom half of earners in 2023, and paid $913 in federal income taxes on average, the analysis said.The average income tax rate that year was 14.1%, according to the Tax Foundation.The top 1% of taxpayers paid an average rate of 26.3%, about seven times higher than the 3.7% paid by the lower half of earners.Bezos nodded to discussions around the so-called K-shaped economy, the idea that higher-income groups are benefitting ...