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NYC Mayor Mamdani Disputes Bezos on Billionaire Tax Impact

New York City Mayor Zohran Mamdani challenged Jeff Bezos's assertion that raising taxes on billionaires would not benefit working-class residents. On Wednesday, Bezos said doubling his tax burden would not help a Queens teacher and instead advocated for eliminating federal income taxes on the bottom half of earners. Mamdani responded that teachers in Queens would disagree with that assessment. Bezos noted the top 1% of taxpayers pay 40% of all tax revenue while the bottom half pays 3%. NYC teacher starting salaries reached $68,902 for bachelor's degree holders in September 2025, rising to $71,314 in September 2026. Those with master's degrees earn $77,455, increasing to $80,166. Mamdani and Gov. Kathy Hochul back a proposed tax on luxury second homes valued at $5 million or more.