The billionaire entrepreneur says eliminating federal taxes on lower-income Americans could spark innovation and create more opportunities for future business leaders.
Amazon Founder and Executive Chairman Jeff Bezos is calling for a dramatic overhaul of the federal tax system, arguing that the bottom half of American workers should pay no federal income tax — at all.
Bezos, who ranks as the fourth-richest person in the world with an estimated net worth of $267.3 billion, said Americans with lower incomes would benefit more from a complete tax elimination rather than modest reductions during an interview on CNBC’s “Squawk Box.” He noted that the top 1% of taxpayers pay about 40% of all tax revenue, while the bottom 50% account for just 3%.
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