ABC News Daily How a wealth tax could fix the housing crisis
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Feb 17, 2026 
Gary Stevenson, British economist, ex-trader and YouTube explainer, argues for taxing the super-rich to tackle inequality and housing shortages. He traces how tax cuts and concentrated tech wealth drove asset inflation. He explores taxing mining profits, designing a workable wealth tax, and political pushback that protects elite advantages.
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Inequality Shrinks Living Standards
- Rising wealth inequality squeezes ordinary people out of housing and living standards.
- Gary Stevenson warns unchecked inequality leads to unaffordable housing and falling living standards.
Wealth Begets Asset Inflation
- Wealth generates passive income that gets reinvested into assets, pushing up prices.
- Stevenson explains billionaires' passive returns concentrate ownership and inflate asset prices like housing.
Restore Higher Taxes On Top Incomes
- Reintroduce higher taxes on top incomes and inheritances to curb wealth concentration.
- Stevenson points to mid-20th-century high top tax rates as precedent for broader prosperity.