you can make income tax more progressive to fund lots of social services, low-income tax credits, EITC. But this has to fundamentally do
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Replying to @kimmaicutler @sf4sfsite and
with how the state taxes and regulates land -- all land underlying new development, existing real estate, etc.
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Replying to @kimmaicutler @sf4sfsite and
entities, investors, speculators park capital into *existing* real estate in CA *because* the tax protections are so strong.
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Replying to @kimmaicutler @MadMaxFlapper and
Or, more likely, because demand by rich gentrifiers ensures escalating values
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Replying to @sf4sfsite @MadMaxFlapper and
no, I can't live where I grew up because the homeowners there keep approving office space but no housing.
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Replying to @kimmaicutler @MadMaxFlapper and
Most people don't think deep economics in those decisions- think impacts on their neighborhoods daily lives!
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Replying to @sf4sfsite @MadMaxFlapper and
city budget spending on retirement costs up 66,733% over the last decade. Who's paying for that? Because you're not https://modernluxury.com/san-francisco/story/san-franciscos-incredible-expanding-budget …
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Replying to @kimmaicutler @sf4sfsite and
the new people are paying for that. The new people are *subsidizing* you and your property values. That's why Bay Area cities keep
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Replying to @kimmaicutler @sf4sfsite and
trying to attract tech cos. Because they need something, literally anything, to compensate for the lack of tax revenue from elsewhere.
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Replying to @kimmaicutler @MadMaxFlapper and
Lol - because tech gentrification is the solution to all problems (or the root of them?)
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if you want a larger budget hole and more layoffs from the city govt, OKAY.
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Replying to @kimmaicutler @MadMaxFlapper and
OKAY - good idea 30,626 city workers cost $4.7B - about 1/2 the budget
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