There are several such communities in New York City, such as Fieldstone, Manhattan Beach. The homeowners set up a corporation where each homeowner is a member. They do not restrict taffic but enforce no parking in the streets. They also take on street improvement at their expense. I have however seen other communities where there is a gate and there traffic is restricted but they are considered as private property of the owners.
I can, however, sympathize with your anger; it just doesn't seem fair that the rich can enjoy those special privileges while we, the ordinary people, can only watch with frustration.