The headline on an opinion column that was published in the May 27, 2026, edition of The Wall Street Journal reads this way: Jeff Bezos Earned His Fortune.
Marian L. Tupy, a senior fellow at the Cato Institute, is the person who is making this argument. In a typographical "pull out," Tupy sums up that argument by telling us that "The Amazon founder's innovations save customers 22 hours a year on average, giving them the gift of time." Here's a more extended explanation:
Modern debates about wealth start in the wrong place. They begin with the fortune. They should begin with customers and their time. Mr. Bezos is worth roughly $275 billion. That number offends many people because they assume wealth must have been taken from someone else. But Amazon didn’t become valuable by force. It became valuable because hundreds of millions of people chose to use it.
Consumers weren’t forced to buy books, batteries, diapers, cables, razors, tools, groceries or printer ink from Amazon. They did so because Amazon saved them time, money, effort or uncertainty. Sellers weren’t forced to use Amazon’s marketplace. They did so because it gave them access to demand. Firms weren’t forced to use Amazon Web Services. They did so because renting computing power was cheaper than building and maintaining their own information-technology infrastructure. That is capitalism: People get rich by creating something others value enough to buy....
Consider the arithmetic. Suppose an hour of labor is worth about $64, roughly the average gross domestic product per hour worked in the countries in which Amazon operates. If Mr. Bezos’ fortune corresponded to the total value that Amazon created, his $275 billion would represent about 4.3 billion hours of saved time. Divided among Amazon’s more than 300 million active customers, the saving comes to about 14 hours per customer over Amazon’s life. That’s nothing. Many customers save that in a month.
At $64 an hour, that means Amazon has saved its customers about 214 billion hours. Across 300 million customers over roughly 32 years (Amazon was founded in 1994), the saving equals about 22 hours per person a year. That is 25 to 26 minutes a week, or a little less than four minutes a day.
So the question isn’t whether Mr. Bezos has too much money. It is whether Amazon has saved the average customer four minutes a day. The answer is yes. A single avoided trip to a store can save 30 minutes. Finding a product online instead of driving to three retailers can save an hour. Reading reviews can reduce the chance of buying the wrong product. Automatic reordering can save repeated errands. Price comparison can save money and time. Fast delivery can substitute for inventory kept in closets, garages, offices and warehouses.
Tupy makes a pretty good argument, don't you think? I think he does, but I do want to note that there are some costs he doesn't tally. Amazon's successful business model has not only made it possible for the buyers of everyday commodities to save time, it has also helped destroy many small businesses - and even some large businesses - and has mightly contributed to what is sometimes called the "death of downtown."
Still, let's give credit where credit is due. Bezos' commercial innovations (and let's not forget the contributions of his former wife, MacKenzie Scott) have received an endorsement from the market. His new idea about how to use the "Internet" to sell things was, perhaps, an idea whose time had come. Granting all that, and affirming the arithmetic propounded by Tupy, I think there is something else we need to consider.
Who made Amazon successful? Just as Tupy points out, its customers made Amazon successful. And who are those customers? You, me, and the entirety of the public. So, shouldn't the public also share in the economic benefits, along with the guy who had the good idea? Granted that those four minutes a day we've each gained are worth something, I am suggesting that our willingness to transform the American economy on the Bezos' model of commercial enterprise should also result in a direct sharing of the economic benefits by the public taken as a whole.
In other words, since we, the customers, and we, the public, have made Amazon successful, it would be - and in fact is - totally appropriate to impose a tax on the profits we made possible, to fund such things as downtown urban revitalization, childcare, health care, and the armed forces that defend our American "way of life."
Anyone see anything wrong with that? We have had a progressive income tax for a long time, and as the success of Mr. Bezos' good idea reveals, when the willingness of the public to change its buying habits has made it possible for one person to amass amazing sums of money ($275 billion buys a lot of merchandise, like Bezos' super yacht, pictured below), a tax on some of the profits, to benefit the public, is absolutely in order.









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