While in SF, tech giants complain that all the money goes into greedy landlords, and they are not to blame for the high housing costs.https://twitter.com/Richard_Florida/status/991774245339316226 …
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Replying to @BobbikeLu
We have a different property tax and land use system in California.
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Replying to @kimmaicutler @BobbikeLu
Seattle builds 2X as much housing as SF and has passed 2X as much in affordable housing bond money as SF. Also property taxes rise with property values and aren’t wholly captured by land owners unless you have a senior or low-income exemption.
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Replying to @kimmaicutler @BobbikeLu
Washington state also has no income tax while 70% of SF’s general fund comes from personal income taxes, which are the most progressive in the US. 40% of that comes from the Bay Area.
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Replying to @kimmaicutler @BobbikeLu
Washington has among the most regressive taxation systems in the country while California is the opposite.
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It’s not. But the income taxation part is progressive in CA.
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