But a closer look reveals deeper problems. California is the most expensive state for housing in the country after Hawaii, and today is suffering from one of the most severe homelessness crises in its history. In the face of a housing shortage, Millennials, renters, and employers are fleeing the state. High housing prices siphon away from the productive economy $140 billion annually. At the state and local level, Democrats and progressives have responded by mandating and extending subsidies for low-income housing. But not only are the subsidies and mandates inadequate to meet demand, they also serve to make housing more expensive for the middle-class.California is where we house the poor. Gavin Newsom now offers to pay for national healthcare. We are going to tax ther google kids.
California’s high cost of living is a major factor behind the state having the country’s highest rate of poverty and inequality. When the cost of living is taken into account, California still spends less on K-12 education than all but four other states. California’s income taxes are high but so is it’s sales tax, which is regressive, while property taxes are low and disproportionately burden new and young homeowners. While the operating budget is in surplus, the state is leaving its young with a $366 billion public pension and health care debt.
Sunday, March 4, 2018
Overwhelmed by the nation's poor
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