Taxing the Rich to House the Poor: The Case of San Francisco’s “Twitter Tax”
“The minimum annual income needed to qualify to buy a median-priced, single-family home in San Francisco is currently $333,270. Yet as Scott Wilson in the Washington Post reports, there is poverty amidst the plenty. Indeed, San Francisco, a city of 884,000—’home to the third most billionaires of any city in the world,’ Wilson writes—also has an estimated 7,500 people living on the streets. Some put the actual number of homeless as high as 10,000, a number that is more than one percent of all city residents.”