Jeff Bezos on lower-income workers and taxes
Bezos went on CNBC to argue against higher taxes on the rich, which TYT calls self-serving propaganda from a man who pays almost nothing in taxes.
- Bezos suggested cutting taxes for a Queens nurse instead of raising his own, claiming doubling his taxes would not help workers.
- He blamed wealth inequality on "crony capitalism" and corporate welfare, while ignoring that Amazon has paid zero federal tax in some years using those same loopholes.
- ProPublica data shows Bezos's wealth grew $127 billion from 2006 to 2018 while he paid only a 1.1% true tax rate, once even claiming a $4,000 child tax credit.
- Congressman Ro Khanna pushed back, pointing to a Bernie Sanders billionaire tax that would fund $60,000 minimum teacher salaries, $3,000 direct payments to most households, and reverse Medicaid cuts.
- TYT argues the real root cause is money in politics, since billionaire donors block bills like paid family leave even when 84% of voters support them.
Outlook: Bills taxing billionaires have no chance of passing while both parties rely on billionaire donors, so wealth inequality keeps growing.