I think the thing for everyone not making >$1m/yr to firmly understand is that when top marginal rate income isn’t taxed seriously and antitrust laws aren’t enforced, they have to bid for housing in markets where the prices are set by top-bidders, and your grocery bill is whatever they feel like charging you and that means your normal $50k/yr income can’t afford rent and food without roommates. High inequality means everything becomes expensive.
It’s the “low-tax” countries that create unaffordable real estate, the ‘free market’ countries are where you can’t afford necessities. It’s the ones that invest in public goods and infra (and regulate their capitalism) that yield high standards of living for most people.
I think the thing for everyone not making >$1m/yr to firmly understand is that when top marginal rate income isn’t taxed seriously and antitrust laws aren’t enforced, they have to bid for housing in markets where the prices are set by top-bidders, and your grocery bill is whatever they feel like charging you and that means your normal $50k/yr income can’t afford rent and food without roommates. High inequality means everything becomes expensive.
It’s the “low-tax” countries that create unaffordable real estate, the ‘free market’ countries are where you can’t afford necessities. It’s the ones that invest in public goods and infra (and regulate their capitalism) that yield high standards of living for most people.