India, May 21 -- Jeff Bezos on Wednesday argued that lower-income Americans should be exempt from paying federal income tax, saying such a move could reduce financial pressure on millions of households and help foster entrepreneurship in the country.

In a post on X, Bezos argued that the US already has "the most progressive tax system in the world," claiming that the top 1% contribute 40% of taxes while the bottom 50% pay only 3%.

He said the system could be made "even more progressive" by eliminating income taxes for lower earners altogether.

Bezos' remarks come at a time when taxation of the wealthy has once again become a major political issue in the United States. Several Democratic lawmakers at both the state and federal levels ha...