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This, in a nutshell, is why I (a highly paid software developer in NYC) would personally benefit from aggressive action on income and wealth inequality. There are enough people in this city who make tens or hundreds of times the salary I make that landlords and sellers are happy targeting them, and I'm competing against the prices they can pay. As a thought experiment: cap my salary to $50K/year and cap everyone else's to $50K/year too and market forces will quickly make me a much more competitive buyer.

I wouldn't even be sad about the money I'd no longer be making, because right now a good chunk is going into rent, and an even larger chunk is going into savings so I can buy a home at NYC prices. So it's not like I get to spend it on other things. If I didn't have the money but I also didn't have to spend that money on housing, I'd be equally well off.

(And all of this is leaving aside that other people would be better off, which is net good for society, etc. etc. Even the first-order effects alone are selfishly valuable.)




I live in NYC too and am in the same situation as you and would benefit from aggressive action on income and wealth inequality too. You’re absolutely right in your thinking, income inequality makes the money agressively flow towards the ones who own most of it.




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