Fight those who believe not in Allah nor the Last Day, nor hold that forbidden which hath been forbidden by Allah and His Messenger, nor acknowledge the religion of Truth, (even if they are) of the People of the Book, until they pay the Jizya with willing submission, and feel themselves subdued.
Ibn Kathir: https://quranx.com/Tafsir/Kathir/9.28
Paying Jizyah is a Sign of Kufr and Disgrace
Allah said, (until they pay the Jizyah), if they do not choose to embrace Islam, (with willing submission), in defeat and subservience, (and feel themselves subdued.), disgraced, humiliated and belittled. Therefore, Muslims are not allowed to honor the people of Dhimmah or elevate them above Muslims, for they are miserable, disgraced and humiliated. Muslim recorded from Abu Hurayrah that the Prophet said, (Do not initiate the Salam to the Jews and Christians, and if you meet any of them in a road, force them to its narrowest alley.) This is why the Leader of the faithful `Umar bin Al-Khattab, may Allah be pleased with him, demanded his well-known conditions be met by the Christians, these conditions that ensured their continued humiliation, degradation and disgrace.
Jizyah is protection money paid to an extortion ring.
Source: facebook.com