>>>Capitalism is a wonderful system but as we saw in the early 20th century, unfettered capitalism is self-destructive. Simple math dictates that the rich will become exponentially richer, and that increased wealth will inevitably come at the expense of the less powerful, especially when there is basically no limit on how much money can be used to influence politicians.
>>>The New Deal put some brakes on the process, but since the 1970's those brakes have been gradually released.
>>>High tax rates on high incomes are one way to slow the pace.
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>You don't need to lecture NZers about property prices. ;-) https://www.stuff.co.nz/business/110049950/auckland-ranked-among-worlds-least-affordable-cities-in-housing-report

The average cost of rent for a person here on Oahu in Honolulu is 74% of the average salary. Want to own a home? Average monthly mortgage cost is 118% of average salary. In other words you can rent and be broke forever and you can't ever buy a place. I see 4 or more people living in a 1 room studio apt all the time. Santa Cruz California -- where the rent is 82% of average salary - is the only city worse in the USA right now.



>A laudable goal doesn't guarantee that a proposal will work. That's what takes socialism down every time in the end.
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>If you raise income tax to 70%, the super rich who already make most money from low-taxed dividends, won't feel it at all. If they haven't already, they'll move assets and income into offshore entities and pay themselves low salaries. Effect on property prices? Little if any, the difference will be that foreign entities do more of the buying.
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>It may simply be that just as people in Germany or the UK expect to be renters all their lives, that may become the norm elsewhere too.