We all knew this would happen.
Silicon Valley exodus: Bay Area tech companies leaving for Texas
131–140 of 622 posts
Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas
#132Earlier quoted context omitted.
If my understanding is right, if you purchase a house and you (or your kids) have been living in it continuously you pay taxes on the original purchase price, rather than current value. These tax savings pass to homeowner families who stay in one location for multiple decades, especially as land values rise. Homeowners are very opposed to being displaced, since moving means their taxes would reset to a higher level.…
That is correct. Source: just bought my first home in CA. Taxes were surprisingly reasonable
Not correct: your taxes will go up annually by 2% or CPI, whichever is lower. Granted, this means they will grow substantially slower than historical property appreciation, but it’s not 0.
Also your property taxes start out at 1% of assessed value, which is very low compared with many other high-wealth states.
Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas
#133Earlier quoted context omitted.
NIMBYs oppose new construction because it keeps their property values high. They don't care about property values ballooning because they pay property taxes on the assessed values from when they bought, which is often decades ago, due to Prop 13. Prop 13 in general keeps things stagnant. For another example, there is no incentive to renovate/tear down/rebuild bigger because now you will pay significantly higher prope…
> NIMBYs oppose new construction because it keeps their property values high No, they just don’t want their neighborhoods to change (read: poor people, more traffic). I don’t think most of them are frankly thinking about their property values because it’s just not super relevant, thanks to prop 13. > For another example, there is no incentive to renovate/tear down/rebuild bigger because now you will pay significantly…
Well Prop 13 contributes to zoning. Cities get almost no money from residents, so they zone for denser commercial but sparser residential. The ratio of jobs to housing goes wack and you have a shortage of housing for the people who move here for jobs.
Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas
#134Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas
#135Earlier quoted context omitted.
What particular policies did people vote for that contributed to their reasons for fleeing?
The LA mayor is telling people to not walk outside because of covid. If thats not absurd big liberal govt policy idk what is. Who would want to live somewhere where the govt thinks they can do that. Your rights as a person dont vanish in a crisis. https://fortune.com/2020/12/03/los-angeles-new-lockdown-rule... dannyincolor - He issued an order. Its not an ask. This isnt a where you live thing, this is a govt overstep…
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Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas
#136Earlier quoted context omitted.
What particular policies did people vote for that contributed to their reasons for fleeing?
The LA mayor is telling people to not walk outside because of covid. If thats not absurd big liberal govt policy idk what is. Who would want to live somewhere where the govt thinks they can do that. Your rights as a person dont vanish in a crisis. https://fortune.com/2020/12/03/los-angeles-new-lockdown-rule... dannyincolor - He issued an order. Its not an ask. This isnt a where you live thing, this is a govt overstep…
Those who've downvoted this comment, can you please explain? Outdoor risk is extremely low, especially when you're walking and wearing a mask.
Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas
#137Earlier quoted context omitted.
High taxes are good because people will have less room to live? This doesn't sound like a good justification.
Most economists agree that a land value tax is economically the best kind of tax. Imagine property tax is 0. Why would anyone ever sell? All the land would effectively be owned by hereditary feudal lords. Texas has higher property taxes than California but more affordable housing. Makes you think.
Funny enough, I actually agree with this, at least from an economics perspective. I'd much rather get rid of the income tax and have higher property taxes. That seems much more efficient to me.
Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas
#138Earlier quoted context omitted.
High taxes, high cost of living, and bad policies were the primary reasons I left CA. Property tax assessment was 1/6th of fair market value (thank you prop 13). Still decided to leave. Got a house almost 3x the size for the same price, and no homeless tents everywhere is a nice bonus.
Yeah having a house 3x the size is not great for you or the environment, given that people don’t use most of their houses ;-)
> Yeah having a house 3x the size is not great for you or the environment, given that people don’t use most of their houses ;-)
Who are you to cast stones?
Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas
#139Earlier quoted context omitted.
Homelessness is not unique to Caliifornia. Seattle and Portland have a big problem with it too. Heck, I’ve seen homeless in rural Indiana by the river and in London. California doesn’t have an answer to this, and I haven’t seen any proposals from either the right or the left that seem viable, but if Texas is so great maybe we should ship the homeless there.
There are 28,995,881 people living in Texas vs 39,512,223 in California. There are 151,278 homeless in California vs 25,848 in Texas. Is homelessness a problem in Texas? Yes, but it isn't remotely as bad as California. And of course, then there are states with nearly non existent homelessness.
Huh it's almost as if it's been forever known to anybody paying attention that other states literally give their homeless bus tickets to California.
Wonder how that affects statistics like yours people like to tout
Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas
#140Earlier quoted context omitted.
The Attorney General of Texas filed a lawsuit claiming the results of election in four other states were invalid. If that isn't rejection of the constitution and democracy I don't know what is.
They had a dispute, and filed a court case, which was dismissed. What’s undemocratic about that? If they ignored the court verdict, that would be rejection of constitution and of republican system of government, sure. However, addressing legal and constitutional complaints through justice system is as constitutional and small-r republican as one can get.
I think the “please throw out the votes in other multiple states that aren’t Texas so Mr Trump makes all my outstanding indictments go away” part by the Texas AG was the undemocratic part.