Gary Stevenson

Really, if you want to understand why having untaxed billionaires hurt your living standards, you don't really need to understand anything more than that.

Once you have a class of people making 30 or $40 million a day, imagine you are making $40 million a day.

How much would you spend?

I couldn't even imagine spending like $100,000 a day.

Okay, so let's assume you spend $100,000 a day.

You know, and then you've got another you've still got another, you know, $28 million still, you know, to spend.

You have no choice but to slowly buy all of the assets in the entire world.

That is what is going to happen and that is exactly what is happening.

And then what that means is other groups of society will lose their ownership of assets and we will eventually end up in the kind of extremely unequal world that we have been in.

So this is the point that I want you to understand as much as you can.

The growing wealth of the billionaire class is the reason that you are getting poorer.

This is the reason you can't afford the house.

It's the reason your government wealth is collapsing.

You know, these two things are the same thing.

You cannot have one tiny minority of people that own everything and not have everybody else owning nothing.

So I think this, you know, a lot of people have been shitting on Bezos this week and I think it was kind of, I think his intervention was ultimately kind of dumb and I think it would be self-defeating.

But he's highlighted one really important thing.

We need to as much as possible clarify, simplify, make clear the economic reasons why allowing the billionaires to be untaxed and to own everything will and is making ordinary people poorer.

And I want to finish on one last bit of sort of business jargon, which Jeff Bezos taught me.

So what did he say after he said, you know, Amazon could fix this?