Will Seattle really become the next San Francisco?


#61

We simply make jail/prison too semi decent of a place to be. Come on, 3 square meals, you have companionship with similar interests (yeah, I robbed that bank too…) and a roof over your head. What’s not to like?:grin:


#62

It is more expensive than Harvard…

"Cost per prisoner has doubled since 2005

The price for each inmate has doubled since 2005, even as court orders related to overcrowding have reduced the population by about one-quarter. Salaries and benefits for prison guards and medical providers drove much of the increase."

I’m going to keep beating the drum that any government program where costs increase faster than inflation isn’t sustainable.

“For example, the corrections department has one employee for every two inmates, compared with one employee for roughly every four inmates in 1994.”

That sounds awfully similar to colleges during that time period. The number of administrative positions has skyrocketed driving up tuition costs. It appears to be how the state runs things. Increase state employees at a much faster rate than the number of customers increases.


#63

More on the Seattle income tax on the “rich”. This sums up the attitude:

"Seattle is seeing a massive wealth boom from growing tech companies like Amazon and Microsoft, yet the gains aren’t being spread evenly. Soaring housing prices are squeezing out middle-class families and lower-income earners from many neighborhoods and creating a shortage of affordable housing, local officials say.

Seattle’s outgoing mayor called the tax “a new formula for fairness.”"

It’s the typical response to income inequality. Take money from the rich and hand it out to the others. I’m wondering how long before they realize this tax and redistribute doesn’t work to reduce inequality. It only increases it. Then they’ll change the conversation from minimum wage to maximum wage to create more fairness. The narrative will be by capping the max wage the money that’d paid to high earners will instead be distributed to others in higher pay.

http://www.cnbc.com/2017/07/19/rich-shouldnt-pay-their-taxes-washington-state-gop-says.html


#64

Seattle is a wanna-be San Francisco. Come back to the real thing… :smile:


#65

So, does that mean we should fear those coming from Seattle? Since lots of them there are ex-criminals, and since they over there don’t believe in second chances, why giving them the same respect over here? Stay where you are people from Seattle. :joy:

Since anything becomes a political mantra, don’t forget your social security earnings got taxed during your glorious Raygun administration in the 80s. Darn democrats. Oh, wait! He ain’t democrat!

On the subject of rich people. I have brought to you guys one or two escape routes the rich use to not pay taxes 100%. So, all you see is a circus, the rich pretending to be hurt when he is OK. He is there because he knows how to use tax loopholes, which are pretty, preeeeety abundant in the tax code if you know how to hire that “body” to help you find them.

Nothing is like SF or the bay area. Those tying to emulate it, will fail. You can’t erase history and the achievements of the people over here, none the less the weather.


#66

Seattle would be wise to repeal it. Detroit first implemented a city income tax in the 1960’s. That worked out great, since people started leaving the city.

https://www.forbes.com/sites/rexsinquefield/2013/08/11/the-earnings-tax-is-a-key-factor-in-detroits-taxpayer-exodus-bankruptcy/#45f58a864ae5

“From 2000-2010, the metro areas with the largest declines in population (excluding New Orleans, post Hurricane Katrina) were Detroit (-25%), Cleveland (-17%), Cincinnati (-10%), Pittsburgh (-8%), and St. Louis (-8%). Each of these aforementioned cities have an earnings tax.”


#67

Hey, SFGate, how about more in depth stories about OUR real estate market??? (See the SF part of SFGate…it is not SEATTLEGate…)


#68

Umm, that view might be from my work building. It’s at least from close by.


#69

Quotes from Seattle people on how the boom has impacted them. Bay Area people may find complaints of $500k for a 3br home in a nice area confusing.


#70

Essentially the same stuff from down here… some folks really should have bought a long time ago but the ship sailed. A lot of folks mentioned rising property taxes, which I take is due to non existence of Prop 13 type law up there(?). The world has simply become way more competitive and you really have to be willing to compete to get ahead. I hate to be mean but majoring in some fairly useless subject while can be interesting and all aint gonna pay that rent or mortgage…


#71

No prop 13. Property taxes are 1% of property value. I imagine landlords raise rent to compensate for the rising expense each year. I do wonder where all the money goes when you see property values have doubled in the last 5 years. Tax revenue must have doubled too, and I doubt services doubled.


#72

Well, isn’t your fair city also spending a pretty penny to help the homeless too? Is your city budget as bloated as ours? I read recently that our pathetic leaders are getting fairly big raises too.


#73

I haven’t researched it yet. I’m sure I can find the info though. I’m sure a large part went to shoring up pensions.


#74

Same here…


#75

Apparently software job postings are decreasing in SV while they are increasing in Seattle. Seattle #1 for increase. @hanera Austin is #5.

http://www.cnbc.com/2017/07/27/tech-jobs-silicon-valley.html


#76

Data should include the baseline. What is the absolute number of jobs?


#77

Wouldn’t you want to invest based on trend though? You care about where the jobs in the future will be. That’s where you’ll get the highest rent and appreciation.


#78

In that case, we want trend of housing growth. Can only get appreciation and rent if housing growth is slower than job growth/ population growth.


#79

So this data set I posted in another thread:


#80