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> I genuinely don't think the city can fix that. Not with California's caps on property taxes. A land value tax used to fund a citizen's dividend / basic inco
by yellowapple 4y ago
> I genuinely don't think the city can fix that.
Not with California's caps on property taxes. A land value tax used to fund a citizen's dividend / basic income would absolutely fix that - but the ones who are wealthy enough to own land in California - and particularly those wealthy enough to own land in the Bay Area - are also the ones with political power, so until the people of California hit a breaking point that ain't likely to happen.
The problem, in other words, is statewide, but especially acute in SF and its metro area (and lately the metro areas surrounding it).
> The only thing I can see working is dramatic redistribution of wealth, which will probably crater the city finances as everyone with money leaves.
Driving everyone without money to leave would surely crater things just as badly. Indeed, it's no wonder that "nobody wants to work" when even Sacramento and Stockton are unaffordable and people are commuting in from Modesto and beyond.