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A government middle man is not going to reduce income inequality. First, we need to decide whether or not inequality is necessarily a bad thing if everyone's situation is improving. Otherwise, it just comes off as covetousness. Second, we need to evaluate if mental health/drug rehabilitation facilities would solve a lot of the homelessness problem. Third, we need to reduce government restriction on building to put some downward pressure on housing costs or encourage people to establish employment or businesses in areas that are more economical.

Income inequality now is much less than during Astor and Rockefeller times. Yet the homelessness and the relative poverty is worse.

I don't have the stats but I'd assume that the cost of living has also gone up in the largest cities along with the density.

Why does it need to balance itself?