Let’s tax the unrealised gains of those billionaires as stocks only ever rise in value, right?
Amazon shares collapsed by 18pc on Thursday night, wiping $202bn (£175bn) off its valuation in one of the biggest one-day sell-offs of all time.
The tech giant warned of weaker consumer spending in the run up to Christmas.
The plunge in its valuation left Amazon valued at around $930bn, the lowest level since the onset of the Covid crisis in March 2020.
Oh, so that’s a big tax refund for Bezos under that plan, isn’t it? And could Piketty be wrong, r is not greater than g?