Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: zzpat who wrote (5317)	12/17/2017 11:31:44 AM
From: Kirk ©	1 Recommendation Recommended By the traveler Read Replies (1) \| Respond to of 26422

No wonder my friend with 4 kids moved back there to live. They have health care for everyone and a top tax rate of 22%. They do have their own problems. One is the wealth disparity may be as bad there as here. The low taxes fairly strict government (no freeloaders... to get public assistance there when I was there for work, people had to work at jobs like making sure you wash your hands in airport restrooms and picking up trash and dead leaves at the many, beautiful parks.) SO, with far less incentive to be on public assistance, they had less of it. My friend says there are all sorts of problems with wealthy Russians moving there and driving up cost of living. It sounds similar to here in the Silicon Valley with wealthy Chinese moving here, paying cash for homes in great neighborhoods so the kids get a good education with the fathers often spending most of their time in China. But the biggest reason they can afford that is they don't have a huge military that we have.

To: zzpat who wrote (5317)	12/17/2017 11:39:34 AM
From: Kirk ©	Read Replies (1) \| Respond to of 26422

Today SF honors just deceased SF Mayor Ed Lee who had a heart attack in Safeway a few days ago. Our discussion gave me an excuse or reason to research Singapore. They have health care for everyone and a top tax rate of 22%. We've always had higher taxes than most of these newer economies and we've done fine. Ed Lee started as a housing advocate. When he became mayor, he cut or eliminated city taxes in some of SF's seedy neighborhoods to encourage tech and biotech companies to move there, attract more good jobs, housing and support functions like great restaurants, etc. Lee was SO SUCCESSFUL that gentrification is a big issue now where the poor (and bums) are being forced out and into longer commutes so the often better educated and certainly higher paid can move in. For example, my cousin's 25 yr old son moved out of his parent's home in a wealthy, "BART Community" in the East Bay and into one of those lodging places that offer a room and bathroom but no kitchen, etc... tiny... so he can leave his car behind and work his IT job at City Hall and live in the city. When I was a kid, these rooms were occupied by panhandlers and such.... What is San Francisco city tax? Residents of San Francisco pay a flat city income tax of 1.50% on earned income, in addition to the California income tax and the Federal income tax. Nonresidents who work in San Francisco also pay a local income tax of 1.50%, the same as the local income tax paid by residents. All Mayor Lee did was cut taxes on Twitter and some others to match the zero city taxes we have in the Silicon Valley.... and he got some of our jobs while driving out the poor and attracting high earners. I'll let you decide if that is a good or bad result.