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points by podgorniy 1 day ago | 0 comments
> I don't think most Americans have a problem with rich people buying nice houses and nice cars, and using their wealth to pay for private staff.

Think again. The demand from rich to park wealth in X, Y, Z makes prices go up. Just imagine that the RAM prices fueled by AI spending is a housing market. More money rich have, less affordable the life for the rest is.

And don't forget that speed of their wealth growth is way faster than anyone who sells their labour.

Ah. And we did not even talk about "hidden" wealth thingy... All these numbers are official ones.

[–] JuniperMesos 1 day ago
Housing prices aren't going up because of billionaires, they're going up because of the collective action of millions of ordinary Americans, many of whom are not rich, who own houses and resist the construction of new houses near them to meet demand. Taxing the ultra-wealthy more does basically nothing to make my own housing costs less; making it legal for a housing developer to completely ignore the protests of old retired people on a fixed income and build a new condo development next to the house the old retired person bought 30 years ago would.
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