What's CPI+0 as a rule based on? What are you trading off that makes you say it shouldn't be -10%?
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Replying to @daguilarcanabal @HenryKraemer and
If that weren't a concern what would you strive for?
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Replying to @daguilarcanabal @HenryKraemer and
That's a non sequitur, and landlords don't capture 100% of economic activity (otherwise we wouldn't see consistently positive effects of cash transfers, and there'd be no point raising wages). IDK it doesn't seem like a crazy ask to know what the optimal RC policy would be.
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Replying to @daguilarcanabal @HenryKraemer and
Sure, we all would. That's why we tax land via property taxes, and why we need to raise them.
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Replying to @daguilarcanabal @MaxGhenis and
CalPERS is a Blackstone investor.
3:51 PM - 6 Jul 2019
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