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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Replying to @kimmaicutler @khuey_
I think these are all very important things to keep in mind.
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we should probably practice a politics that decouples the good from the bad
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yeah that's probably not what's going to happen. At the top of the cycle, we'll promise a bunch of things that aren't adequately funded 1-3 decades from now and some future mayor, who is responsible for keeping an organization employing 30,000 people financially solvent,
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Replying to @kimmaicutler @uhshanti and
and it probably won't even matter if they're progressive or moderate (because hey, De Blasio was pro-Amazon), will try to cut some deal at some other part of the cycle to attract or stabilize tax revenues. A lot of that growth will just be absorbed by the landowner class
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Replying to @kimmaicutler @uhshanti and
then they obviously won't want to pay taxes themselves to prevent the level of public service they expect from deteriorating, so they'll blame it on newcomers and that will fuel some kind of populist campaign for some token concessions. And then this will just repeat ad nauseum.
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Replying to @kimmaicutler @uhshanti and
the “yep its a death spiral” narrative, so succinctly put Kim.
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Replying to @anniefryman @kimmaicutler and
as I say every time
@kimmaicutler and I get into an argument, nothing will get better if we sit here talking about how nothing will get better so we can’t do anything
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Replying to @uhshanti @anniefryman and
I'm just asking people to consider the other pieces. There are several pieces working in parallel the situation we're in. And if the political discourse only focuses on 2 of 4 or whatever, you will not arrive at a solution.
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Replying to @kimmaicutler @uhshanti and
I remember one of the last times this happened. SB400 in 1999. Peak of the stock market.https://www.latimes.com/projects/la-me-pension-crisis-davis-deal/ …
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Wasn't adequately funded. Today it now means that like $1 out of every $5 spent on school district teachers' payrolls has to go and backfill retirements. https://lao.ca.gov/Publications/Report/3873 …pic.twitter.com/tMzvuFLXsB
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Replying to @kimmaicutler @uhshanti and
Any social justice agenda is going to require the seed funding, if not the ongoing funding of the federal government. Cities & states are dependent on tax receipts to get dollars, making them ultimately dependent on the compliance of rich people & corporations for money.
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