and yet it’s still getting an absolute steal on the wealth it’s hoarding
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At a federal corporate tax level, yes. But the state captures the wealth via more progressive income taxes than anywhere else in the US.
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Not sure what this observation is meant to do? Silicon Valley has more wealthy ppl per capita than anywhere else in the state? Silicon Valley deserves better treatment for its contributions? Just looking for context.
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People don’t realize the state of California is basically financially dependent on the industry. If the Bay Area doesn’t figure out a way to allow regional growth, the state won’t be able to meet its ~$400B in unfunded obligations without cannibalizing existing public services
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Love it or hate it, this has been the Californian economic model for decades....
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I’d love to see the combo of property taxes and income taxes per household per region. I would guess that it’s specifically young people in the Bay Area that are the main tax payers given Prop 13
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Surprise, highly villainized newcomers pay for a lot.https://twitter.com/kimmaicutler/status/987025681946107904?s=21 …
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Check out the chart behind the Governor at the
@BayAreaCouncil advocacy day.pic.twitter.com/kgeBPDPy4f
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I think that’s the same chart?
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