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New York City Mayor Zohran Mamdani has pushed back against Amazon.com Inc. (NASDAQ:AMZN) Executive Chair Jeff Bezos’ claim that the government could double his taxes and it would do nothing to help the working class.

Bezos told CNBC on May 20 that the U.S. had a spending and competence problem not a revenue problem, citing the New York City school system and affordability crisis as examples.

Bezos said the city spent $44,000 per student, 30% more than other big cities, without getting better results. He framed the system as inefficient while adding that the money did not trickle down to the teachers.

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Bezos said rent is going up because the government is subsidizing demand with things like tax policy while constraining supply with zoning and inefficient permitting processes.

“You could double the taxes I pay and it’s not going to help that teacher in Queens,” he said. “I promise you, you can’t connect those two things, not logically.”

Mamdani disagreed.

“I know a few teachers in Queens who would beg to differ,” Mamdani said on X.

Mamdani’s administration has sparked debates over whether the wealthy are contributing their “fair share” to the welfare of New Yorkers.

Mamdani had pushed for a fiscal policy built around taxing the rich both as a response to a projected budget deficit, which the administration earlier this month said has now been closed, and affordability concerns.

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As part of the push, Mamdani and New York Gov. Kathy Hochul last month announced a so-called “pied-à-terre” tax, which would impose an annual surtax on homes in the city worth more than $5 million that are not used as primary residences.

Bezos told CNBC the pied-à-terre tax “is a fine thing” likening it to tax on tourists and hotels. However, he cautioned that it can be counterproductive if it is excessive.

Bezos also criticized Mamdani’s April 15 video promoting the pied-à-terre tax outside a $238 million penthouse owned by Citadel CEO Ken Griffin.

“Ken Griffin isn’t a villain,” Bezos said. “He hasn’t hurt anybody; he’s not hurting New York, in fact quite the opposite and so that piece of it isn’t right and there was no reason to do that.”

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This article New York City Mayor Zohran Mamdani Snaps Back After Jeff Bezos Says Doubling His Taxes Won’t Help The Working Class originally appeared on Benzinga.com

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