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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Replying to @SSFyimby
Pensions are good. Pension payments that are based on overly ambitious investor rates of return that cannibalize city budgets and that future generations of taxpayers have to pay for when they should have been covered by previous said returns are bad.
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Replying to @kimmaicutler
very cool to pit retirees against renters when prop 13 is right there
1 reply 0 retweets 1 like
Replying to @SSFyimby
They’re all related actually. P13 is very much part of this equation.
6:44 PM - 14 Jun 2019
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