PBD Podcast Home Prices Reach Lowest Level In Over a Decade | PBD Podcast | Ep. 263 | Part 1
May 2, 2023
The discussion kicks off with Bernie Sanders' wealth confiscation proposal and a new New York bill targeting wealthy violators. They dive into the shaky ground of the banking industry, illustrated by JP Morgan's acquisition of First Republic Bank. There's a heated debate about DeSantis' chances against Trump in the Republican race. The real estate market also takes center stage, with home prices plummeting to their lowest in over a decade, highlighting the impact of rising mortgage rates and Federal Reserve policies.
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Progressive Penalties on Wealth
- New York City considers scaling fines based on income, penalizing wealthier individuals more for violations like parking tickets.
- California proposes similar income-based charges for electricity bills, reflecting a trend towards progressive penalties.
Means Testing and Socialism
- Tom Ellsworth connects progressive fines to the concept of "means testing" used for Social Security and Medicare.
- He argues that these policies penalize wealth and represent a shift towards socialism.
Penalizing Success
- Jed Diabila questions why successful people would live in places that penalize wealth.
- She sees this as standard wealth penalization and encourages successful individuals to leave such locations.