Mamdani fires back at Bezos over Queens teacher tax remark
CNBC • • business
Key Points:
- New York City Mayor Zohran Mamdani responded to Jeff Bezos's claim that raising taxes on billionaires wouldn't help working-class New Yorkers by stating he knows teachers in Queens who would disagree.
- Bezos advocated for eliminating federal income taxes on the bottom half of earners, highlighting that the top 1% pay about 40% of tax revenue while the bottom half pay only 3%.
- Starting salaries for NYC teachers range from approximately $69,000 to $80,000 depending on education level, with planned increases in 2026, contrasting with Bezos's skepticism about tax hikes benefiting such workers.
- Mamdani and Governor Kathy Hochul support a proposed pied-à-terre tax on luxury second homes valued at $5 million or more, expected to raise significant revenue despite some official estimates suggesting lower returns.
- Bezos expressed support for the pied-à-terre tax but remains critical of broader tax increases on the wealthy, emphasizing tax relief for low-income Americans instead.