The working class doesn’t possess the wealth, even collectively, to remedy the need for affordable housing, which has been caused by "rampant corporate greed" and politicians who also benefit. About 40,000 homeless people died in 2023—all preventable deaths.
The federal Housing and Urban Development (HUD) Department has estimated it would take about $20 billion to solve the current affordable housing needs. America's top 25 billionaires are worth $26.6 to $180 billion. Per Federal Reserve data, "The richest 156 U.S. billionaires now hold the same amount of wealth--$3.4 trillion--as the entire bottom half of American households.” It’s been reported "81% of the benefits of the Donald Trump $1.3 trillion corporate tax cuts went to the wealthiest top 10% of households." "While working people pay 99% of taxes on their wage and salary income, the top 1% hides about 20% of their income from tax.” Jeff Bezos donated $100 million to Feeding America in April 2020. "He makes $215 million in a day.” "His Amazon employees qualify for food stamps.”
Is it possible the lack of affordable housing has anything to do with the ability to charge much higher rents the less housing there is and elected officials and those donating to their campaigns are invested in the lucrative real estate business? It’s been reported "90% Of Millionaires Are Made In Real Estate.”
"Jeff Bezos is not the only ‘centibillionaire club' member who has escaped years with $0 paid in federal income taxes." “In 2020, 55 of the largest, most profitable corporations paid $0 in taxes.” Bill Gates (net worth: $128 billion) is one of the few billionaires who has spoken out against the unfair tax treatment. In his annual "end-of-year" post for 2019, Gates spoke of how he believes he is unfairly rewarded for the work he’s done stating, "That’s why I’m for a tax system in which, if you have more money, you pay a higher percentage of taxes…” There’s nothing preventing him and other billionaires from building housing for the homeless at any time and save 40,000 more lives, including veterans, who protected their privileged lives and many homes.
It’s been reported that "The Billionaires Income Tax would raise $550 billion over 10 years.” Not many of America's 806 billionaires would be needed to contribute even more than $20 billion for affordable housing. They still wouldn't go hungry or without a yacht to sleep on.
Roughly 653,100 experienced homelessness in 2023 in the U.S.and 35,574 were veterans. “Researchers have also found that adults 65 and older are the fastest-growing group of homeless people…anticipated to triple by 2030.” Ending homelessness is not only an achievable goal but would save tax dollars. "A homeless person costs approximately $30,000 to $50,000 per year in supportive services.” The price tag for homelessness is at least $15 billion per year.
The minimum hourly wage is $7.25. Internet research indicates: "On average, a person working full-time needs to make $23.67 an hour to afford a one-bedroom apartment or $28.58 an hour for a two-bedroom apartment, according to the National Low Income Housing Coalition’s annual Out of Reach report.” Also, "When low-wage workers and households have higher pay, they tend to spend more, which helps stimulate the economy. And, "when people have a stable, decent, and accessible home they can afford, they are better able to find employment, achieve economic mobility, age in place, perform better in school, and maintain improved health."
Our elected officials should “walk in someone else’s shoes” by packing a bag and leaving their comfortable, safe homes, their money, credit cards and vehicles, and try to find a safe place to go that’s not friends, family or a homeless shelter. How would they find food, a toilet, a safe place to sleep, bathe, change and wash clothes, access medical needs, receive mail or travel to a minimum-wage job? Such an experience might help them better understand the needs of the homeless and act more quickly to solve their problems because they are solvable.
