One of the major issues in the US is the cost of living continues to worsen, especially in; Housing, Healthcare, Transportation and Food. Inflation has been high since Covid in 2020 and continues to go up.
One way to solve this problem is to add a 5% billionaire surtax that could be used to modernize these areas or to reduce the debt. The number of Billionaires has increased significantly over the past few years, while the rest have stagnated due to AI.
Some of the ways this money could be used are; modernize a metro rail line or add a new segment, convert a vacant commercial building and into affordable housing, modernize a hospital or urgent care facility or develop a sustainable intercity farm or renewable energy project.
This would not only direct billionaire funds to reducing the cost of living, but it would help reduce income inequality, reduce debt and stimulate the economy. It is better to invest in areas that directly benefit the Public than on AI server farms that are used for mass surveillance with no clear public benefit.
Other ways to reduce inflation are;
- Cryptocurrency is money printing which has no value. It is inflationary and should be restricted. The Fed is also supposed to restrict the money supply when prices are high.
- There is a 20% vacancy rate in Commercial Real estate that was bought out by the Government after Covide. If this was released to the market, it would reduce housing and real estate costs.
- Monopolies tend to increase prices and reduce competition. They should be broken up. Companies are normally not allowed to collude but this is not being enforced
- The increase of Billionaires has enabled them to bid up the prices of everything. This should be reduced.
- AI data centers which increase mass surveillance have increased the cost of electricity without any clear benefit.