>The existence of a 100 people with 100 billion each really does nothing for the real purchasing power of the middle and lower class. It has many deleterious e

>The existence of a 100 people with 100 billion each really does nothing for the real purchasing power of the middle and lower class. It has many deleterious effects but the most visceral one is that it prices them out of the housing market. Those 100 people's purchasing power distorts the hell out of any market they dive into and real estate is very much one of their favorites. Taxing them and all the people with wealth close to them to hell and back would make the real estate market sane again even if the tax money wasnt used to build new housing (which it should be). Wealth inequality is the real killer though, and the measure that is the most out of whack. I The rule is that if you ever want to downplay how bad things are, focus on income inequality to the exclusion of wealth inequality.