Seattle City Council
Bezos noted that the wealthiest 1% of Americans contribute around 40% of total tax income. Americans with lower incomes face a tax rate of 3%. "I believe it shouldn't be 3%. I believe it ought to be zero," stated the billionaire.
The Tax Foundation reports, referencing the most recent Internal Revenue Service (IRS) statistics for 2023, that the adjusted gross income for the lowest 50% of taxpayers was close to $54,000, whereas the top 1% contributed at least $676,000.
Bezos thinks that the income tax contributed by low-income employees represents a minimal sum for the government. He mentioned that he would support such changes, but did not clarify how legislators might carry them out.
An evaluation of IRS data by the Tax Foundation revealed that the average income tax rate for 2023 stood at 14.1%. According to the data, the top 1% of Americans faced a tax rate of 26.3%, which is seven times greater than the average rate of 3.7% paid by the lower half of taxpayers.
source: cnbc.com
The Tax Foundation reports, referencing the most recent Internal Revenue Service (IRS) statistics for 2023, that the adjusted gross income for the lowest 50% of taxpayers was close to $54,000, whereas the top 1% contributed at least $676,000.
Bezos thinks that the income tax contributed by low-income employees represents a minimal sum for the government. He mentioned that he would support such changes, but did not clarify how legislators might carry them out.
An evaluation of IRS data by the Tax Foundation revealed that the average income tax rate for 2023 stood at 14.1%. According to the data, the top 1% of Americans faced a tax rate of 26.3%, which is seven times greater than the average rate of 3.7% paid by the lower half of taxpayers.
source: cnbc.com