The scary thing about the current tech boom is that it took the current tech boom just to *run in place* against SF’s unfunded pension liabilities. https://www.google.com/amp/s/www.sfchronicle.com/bayarea/amp/SF-taking-steps-to-avoid-projected-future-budget-13509714.php …https://twitter.com/zck/status/1187491641478664193 …
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So if SF’s economy doesn’t grow as fast as it did over the last decade, boosting the city budget from ~$6 to 12B (which also created lots of other negative impacts around displacement), it will have to cut services substantially.
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The problem, of course in a true neo-lib misdirection, is
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Or they can massively grow and divide the liabilities across more taxpayers!
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I like your idea. Let’s do that!
End of conversation
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And raising taxes in most cases requires a 2/3rds vote by The People Who Turn Out To Vote (aka seniors and homeowners)
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→ SF loses benefits from jobs and yet keeps housing pressure from employees. Crisis gets worse
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→ Prop M’s construction cap, a hostile SF Board of Supes, and Prop C’s gross receipts tax make some business growth impossible