Interesting that the estimated $235M in increased rents to tenants from bringing in 20K tech workers to San Jose is almost as much as the $339M/yr the city spends on unfunded pension liabilities for former employees who no longer work there. https://sanjosespotlight.com/san-jose-pension-plans-unfunded-liability-expected-to-soar/ …https://twitter.com/wpusanews/status/1138861019307040770 …
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very cool to pit retirees against renters when prop 13 is right there
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They’re all related actually. P13 is very much part of this equation.
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that’s a verbose bumper sticker
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Pensions were fine until 1999 when Gray Davis and the legislature decided to retroactively up benefits. SB 400 is the cause of most of these insolvency issues.
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