Even if you taxed all of Jeff Bezos' net worth to zero, it would compensate for a little more than 1 year of home price appreciation in SF. (I support more progressive taxation, but voters literally do not understand the scale of these problems.) https://www.bizjournals.com/sanfrancisco/blog/real-estate/2016/01/san-francisco-home-values-zillow.html … https://twitter.com/Austen/status/1133365603689934851 …
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Replying to @kimmaicutler
This is comparing one billionaire's worth to the speculative real estate value of millionaires to justify not allocating money to thousandaires
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Replying to @sunbittern
Not a justification not to do it. Just pointing out scale. California wants to pay off all the unfunded liabilities that slow or erode future spend on public services? $400B. https://calmatters.org/articles/california-retirement-pension-debt-explainer/ … California wants universal health care? $400B.https://www.sacbee.com/news/politics-government/capitol-alert/article151960182.html …
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Replying to @kimmaicutler
California wants to provide affordable housing to all low-income renters in the state? $250 billion. https://lao.ca.gov/Publications/Report/3345 …
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Also one of the reasons we even get to consider or talk about these things, compared to far more regressive states, is because we’re the 5th largest economy in the world. But our system is also designed to let land & housing suck up a disproportionate share of economic growth.
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