“Public employee unions strongly value pensions as necessary for a good middle-class lifestyle. And yet, their pension funds are investing in Uber and Lyft, which don’t provide that for their workers.”https://twitter.com/CalMatters/status/1130874831686184960 …
-
Show this thread
-
Paradox of California progressivism: every time the city and state agree to give public sector workers better benefits, comp that aren’t adequately budgeted upfront, their pensions have to put more capital into tech, private equity and venture capital. https://www.wsj.com/amp/articles/calpers-wants-to-double-down-on-private-equity-11552834800 …
2 replies 7 retweets 33 likesShow this thread -
Kim-Mai Cutler Retweeted
Paradox of SF progressivism: SF relies on business HQs to locate there to generate business tax revenue to offset pension contributions so it doesn’t spend 20% of its general fund on retirements for people who no longer work there like Oakland, San Jose: https://twitter.com/daguilarcanabal/status/1130644083087536128?s=21 …
Kim-Mai Cutler added,
This Tweet is unavailable.1 reply 3 retweets 25 likesShow this thread -
Replying to @kimmaicutler
I think this setup enables progressivism honestly by setting up a bugaboo for everyone to get mad at. SF progs need punching bags to avoid too much focus on the constant lack of progress on rent prices, evictions, housing costs
1 reply 0 retweets 5 likes
It’s an Ouroboros. SF needs business HQ tax revenue to offset pension liabilities. Economic growth gets disproportionately captured by land owners bc of P13, zoning, etc. City can only offset that with token gestures bc of P13 and P218.
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.