Silicon Valley basically props up the California state government.https://twitter.com/laoecontax/status/986334020001660929 …
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*continues to wish the city's income tax was progressive, or in fact, existed at all*
The state doesn’t want to share income taxation powers with the cities because it itself has crazy revenue predictability issues.
Which in turn creates a volatility problem because the state relies on capital gains taxes. In a bad recession, revenue gets wiped out by something close to $100B which is why @JerryBrownGov is a fiscal conservative. http://www.lao.ca.gov/Publications/Detail/3703 …
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