Affordability is a Diversion

Now we have politicians in both the Republican and Democratic parties waving affordability flags. These are false flags.

For instance, housing costs, both purchase and rental, have exploded in the last 30 years. Meanwhile, incomes for the bottom 90% have stagnated. Per capita GDP(economic output) in the US grew 129% between 1975 and 2024. Over the same period, median family income only grew by 29%. The rest of the income growth ended up in the hands of the top 10%, with a very significant portion in the bank accounts of the top 1%.

It is easy to understand why politicians in both parties are very unlikely to directly address this enormous growth in income inequality or its associated wealth inequality. Their political fundraising is entirely dependent on rich people. They can’t very well be speaking of the real problem here, 50 years of wage stagnation, accompanied by a tsunami of income going to the top. Their political funders are the rich and corporations. They spend their time talking with these folks to raise funds. Can you imagine what the conversations might be like if Republican and Democratic politicians spoke to the rich about how they have ripped off the American people to the tune of $79 trillion dollars since 1975?

Go back to my earlier post on this: “An Update: the $79 Trillion Heist”. And listen to this podcast from This American Life about what really goes on in the fundraising by politicians, Take the Money and Run for Office.