In a wide-ranging interview on CNBC's Squawk Box on Wednesday, Jeff Bezos, founder of Amazon and the fourth-richest man in the world, disputed claims that solving America's affordability crisis starts with increasing taxes on the wealthiest people in the country.
"When you don't know how to solve a problem, create a villain, blame them, but it won't solve the problem," Bezos said, referring to New York City Mayor Zohran Mamdani's pied-à-terre tax proposal. The idea would generate between $340 to $510 million in annual revenue, according to City Comptroller Mark Levine.
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