I think the way to save the Bay Area is to tax the rich at extremely high rates to pay for public services until they move away.
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When we promise things we haven't fully funded decades from now, we're de facto choosing to suppress wages of future public sector workers or forcing public sector union retirement funds to go deeper into the exact high-growth, risky asset classes that some are criticizing.
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I think these are all very important things to keep in mind.
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I'm pro carried interest reform as are many other prominent people in the field. https://avc.com/2010/05/why-taxing-carried-interest-as-ordinary-income-is-good-policy/ … That said, there is lots of evidence that unfunded pension liabilities are cannibalizing public services and wages for future public sector workers. https://gspp.berkeley.edu/assets/uploads/research/pdf/Anzia_PensionsintheTrenches_Aug62017.pdf …
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