If you have enough money to inflate the local housing market, you forfeit the right to be upset when people… point out that you are inflating the local housing market.
But I guess that’s to be expected of the modern tech elite. Unlike the financiers of the past they insist on having their cake and eating it too.
The solution is a progressive wealth tax. Start it at 2% (inflation target) above $100mm and raise it a point at every order of magnitude. 3% at $1bn, 4% at $100bn, 5% at $100bn, 6% at $1tn, et cetera.
There isn't a great reason why OpenAI should be hit with a tax while Andreessen Horowitz and Microsoft are not.
In order to conclude about taxing, we should agree how much more one should earn per unit of talent or position. Should a CEO earn x10k times a base salary, like now? If yes, don't tax them, if they should earn x1k, tax them 90%, if x100 then 99%. Sould one own 100 homes and 50 cars like billionaires, while they live in and drive one? If yes, don't tax them, if no, tax their wealth accordingly to the number we agreed. Every number not based on fundamental human utility is arbitrary, sensational opinion.
I’ve been watching this for decades now. I was hopeful in my 20s that it was just a matter of time before supply would increase. But I’ve learned the hard way, The bay area voters and political apparatus is determined to keep housing as scarce as possible
SF housing dropped relative to other high demand locales during COVID. I wonder if this is just a recovery after Austin et al didn’t pan out as alternatives?
18 comments
[ 0.29 ms ] story [ 37.7 ms ] threadBut I guess that’s to be expected of the modern tech elite. Unlike the financiers of the past they insist on having their cake and eating it too.
I'm in favor of a politician tax, and an attractive people tax (I'm not worried, I will use my tax receipt for virtue signalling)
The solution is a progressive wealth tax. Start it at 2% (inflation target) above $100mm and raise it a point at every order of magnitude. 3% at $1bn, 4% at $100bn, 5% at $100bn, 6% at $1tn, et cetera.
There isn't a great reason why OpenAI should be hit with a tax while Andreessen Horowitz and Microsoft are not.
Plans for nearly 4,000 homes over Safeways divide Bay Area residents
https://skybrian-links.exe.xyz/post/871
I'm confused what to do with a source that shows this as its first words.
For example, it looks like the 25-story Marina Safeway can't be stopped, though they're still trying.
Berkeley has quite a few new buildings, though.
"AI sector's job layoffs lead to dampening of San Francisco house prices"