Longtime Californians who understand the tax code and budget know how absurd the generational wealth transfer is....https://twitter.com/sarcastichalli/status/863053603254042624 …
Many other developed countries do not structure their housing policy in such a way that it pressures people to store their entire wealth in
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That's a straw man...want to talk about generational robbery in CA? How about the $200BN (and counting) public pension deficit...
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A single undiversified asset, that then basically risks the entire health of the global financial markets on a decline.
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Same is true of the stock & bond markets, oil, etc.
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