Just as a thought Problem Let's just say that by Divine intervention EVERYONE only made Half of what they made last Year.

I will admit it would take a while for the Free market to sort itself out but it will.

You will still be Paying 30% of your take home earnings on Housing
25% on Food
and the other 45% on other Expenses.

Notice I specified Take Home Earnings

so if The Tax rate rises or Health Care expenses rise

Your Take home Pay would diminish eventually you would still be able to afford

30% for Housing
25% for food
and 45% for other expenses.

Remember those houses that used to be worth $300,000 well they are Bargains now at $185,000

if you don't understand it is your Problem and not mine.

Paul