When we taxed high end real estate sales in SF we were told the sky would fall. It didn’t. Here are 3 other taxes rich people would barely notice: increase capital gains tax, create stock transaction tax, lower the ever-growing estate tax exemption (now $11.5m) Tax. The. Rich.
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People usually leave for multiple reasons, not just one. What I see is people weighing the quality of life against the costs. For many it isn't netting out.
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I think this is true. But I'm seeing well paid professionals - basically the SF middle class can't afford to buy property so they're leaving. That means they WANTED TO BUY PROPERTY here; they wanted to stay, but couldn't afford it.
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We need more taxes, Dean. Our $13B city budget is just too small compared to similar cities!
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Oh no. The rich who can afford to live anywhere in the world are leaving? God I hope the housing prices go down accordingly since it's become so undesirable. No? Hmmm. Must just be fear mongering then.
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