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Writing 150k (or 120k) and poverty in the same sentence is nonsensical to me. Firstly, there are affordable places to rent in and around Palo Alto. 120k must be
by google234123 4y ago
Writing 150k (or 120k) and poverty in the same sentence is nonsensical to me. Firstly, there are affordable places to rent in and around Palo Alto. 120k must be in the top percentages of income in the US
If your goal is for all teachers to be able to afford a 2 million house immediately upon stating their career then tell me a plan.
- jmpman 4y agoIt’s $4k to rent a two bedroom apt in Palo Alto. That’s $48k/year. After tax, that $120k is just $80k. Leaving our “wealthy” teacher with just $32k to live on, after paying for their apartment. Far from an opulent lifestyle. Notice that this is only available to the most wealthy tenured teacher. The average teacher may be able to afford a studio. The solution: Modify Prop 13. Possibly lock taxes for those over 55, in their primary residences, but all other allowances should be eliminated. Go one step further, and continue prop 13 for those who add an ADU to their property, which is then rented out for more than 6 months of the year to someone else as their primary residence. Available rental units would skyrocket, driving down rental prices. Lower rental prices by leveraging Prop 13. That’s the solution.