San Francisco and San Mateo counties have the highest limits in the Bay Area — and among the highest such numbers in the country. A family of four with an income of $105,350 per year is considered “low income.” A $65,800 annual income is considered “very low” for a family the same size, and $39,500 is “extremely low.” The median income for those areas is $115,300.
Other Bay Area counties are not far behind. In Alameda and Contra Costa counties, $80,400 for a family of four is considered low income, while in Santa Clara County, $84,750 is the low-income threshold for a family of four.
“Minimum wage is going up, but it would be different if the cost of living was the same as when I was a teenager,” Larkins said. “Minimum wage goes up, and the cost of living goes up.”
Yet, that person is an advocate for higher minimum wage. They admit it doesn’t work, but they advocate for it anyway. Gravity is stupid. I want to be able to fly. I’m going to start a group advocating eliminating gravity.
The $82k example is also weird. I’d think they’d be about $60k post tax. That’s $5k/mo and they site $1200 rent, $600 student loan, and $250 car payment. That’s $2050/mo. Where does the other $2950 go? I get there’s car insurance, gas, etc but wow. Get some finaincial discipline. Most of this can be summed up by people can’t afford the lifestyle they feel entitled to having.
The 82K example got me too. I am all for helping low income folks. In the Bay Area I’d say a family of four making 50K or less genuinely needs some help. Be that tax credit or housing. I am fine with that. But folks making 105K? I honestly think my family can live quite comfortably on that income.
40% of population are eligible for section 8, but in reality, our government does not have money to support 40% of population for section 8 housing. The waiting list for section 8 is really long, and it’s closed. Most of these qualified “low income” people will never get the section 8. And many of the qualified people may refuse to get government subsidy even if they are eligible.
Even if they make 100% of the population eligible for free housing, majority of the population will still get worse housing than they have today. Look at Cuba and North Korea, even though everyone in those countries get free housing, their free housing is still much worse than American’s hard to afford housing.
Look like even though can work remotely from home, need to startup in SFBA and then move to a no-income tax state
If the original business could be started by a single developer, won’t one or may be more of the employees could do similarly i.e. be your competitor, after gaining sufficient experience and your client? The business doesn’t feel like those that have network effect.