Jeff Bezos calls for zero income tax on bottom half of earners in America, says it would change millions of lives

Bezos argued that the US already has “the most progressive tax system in the world,” claiming that top 1% contribute 40% of taxes. Jeff Bezos on Wednesday argued that lower-income Americans should be exempt from paying federal income tax, saying such a move could reduce financial pressure on millions of households and help foster entrepreneurship in the country. Bezos says eliminating taxes on bottom 50% would cost little but make ‘meaningful’ difference to Americans. (Bloomberg)In a post on X, Bezos argued that the US already has “the most progressive tax system in the world,” claiming that the top 1% contribute 40% of taxes while the bottom 50% pay only 3%.Also read | What Jeff Bezos said about Donald Trump: ‘I think he’s more mature…’He said the system could be made “even more progressive” by eliminating income taxes for lower earners altogether.Bezos’ remarks come at a time when taxation of the wealthy has once again become a major political issue in the United States. Several Democratic lawmakers at both the state and federal levels have been advocating fresh taxes targeting billionaires and high-net-worth individuals.Also read | Did Jeff Bezos' rumoured bid for Vogue inspire The Devil Wears Prada 2's billionaire acquisition plot? Writer revealsMeanwhile, Republicans have faced criticism over their proposed tax-and-spending package, with opponents arguing that many of its benefits disproportionately favour America’s richest families.The comments have quickly drawn attention online, with supporters calling the proposal a rare acknowledgement from one of the world’s richest individuals about the burden faced by middle- and lower-income Americans. Critics, however, questioned whether the idea addressed wider concerns around wealth inequality and corporate taxation.Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.Read MoreSee Less