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Bezos Calls for Abolishing Income Tax on Bottom Half Earners

5/22/2026

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Summary

Bezos Urges Tax Cut

May 20 2026, Jeff Bezos, Executive Chairman, urged eliminating income tax for the bottom 50% of earners.
He said the bottom half, earning $54,000 in 2023, pay only 3% of tax revenue while the top 1% pay about 40%, and a Queens nurse earning $75,000 pays $1,000 and the Tax Foundation reports $913 tax for the group.
Bezos, whose net worth is $269-$280 billion, said he will advocate the change but gave no legislative details.

Summary

Bezos Tax Gap

ProPublica reported Jeff Bezos' wealth grew $127 billion (2006-2018) as he earned $6.5 billion and paid $1.4 billion in tax, about a 1 percent rate.
The Institute of Taxation and Policy said Bezos paid zero federal tax in years by offsetting earnings with losses and by borrowing against Amazon stock as non-taxable debt.
The Tax Policy Center says 40 percent of U.S. households pay no federal income tax, a non-paying base than the bottom half.

Summary

Booker Proposes Pay Act

Senator Corey Booker (D-N.J.) introduced the Keep Your Pay Act on March 9, making $75,000 of joint-filers’ income tax-free.
The Tax Foundation reported a 2023 tax rate of 14.1%, the top 1% paid 26.3% versus 3.7% for the bottom half, and the bottom 40% owe no tax after refundable credits, per Erica York.
Federal Reserve Bank of New York (Fed) tied subsidy expirations and gas prices to a K-shaped economy in 2023.

History

Historical Context

In August 1993 President Bill Clinton signed the Omnibus Budget Reconciliation Act, which raised the top individual income tax rate to 31% and added $241 billion in new revenue while cutting $255 billion in spending. The reform helped shrink deficits, leading to the first surplus since the 1960s in 1998. Today Jeff Bezos cites that era while urging elimination of income tax for the bottom half of earners.

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Bezos Urges Tax Cut

May 20 2026, Jeff Bezos, Executive Chairman, urged eliminating income tax for the bottom 50% of earners.
He said the bottom half, earning $54,000 in 2023, pay only 3% of tax revenue while the top 1% pay about 40%, and a Queens nurse earning $75,000 pays $1,000 and the Tax Foundation reports $913 tax for the group.
Bezos, whose net worth is $269-$280 billion, said he will advocate the change but gave no legislative details.

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