RUSH: In a Washington Post op-ed, Bill Whalen of the Hoover Institution asks if San Francisco is trying to “hasten its own demise.” He concludes that they are.
Whalen says the city looks like a ghost town, because so many people are working remotely. The office vacancy rate is over 14 percent. The once red-hot real estate market is tanking. Rents have dropped by almost 25 percent and there are twice as many homes for sale today compared to a year ago.
And it’s about to get worse. On election day, San Francisco voters approved a proposition known as the “Overpaid Executive Tax.” It’s a surcharge tax for companies who pay their top people over 100 times what the “typical worker” makes.
This tax was tried in Portland, Oregon and it was a disaster. Corporations didn’t lower executive salaries; they cut loose workers at the lower end of the spectrum and replaced them with independent contractors. They always find a work around.
And this week, San Francisco’s authoritarian Board of Supervisors piled on another set of restrictions on top of the harsh COVID rules. If you live in an apartment, you can’t smoke any tobacco product anywhere in your home. Period. However, smoking a doobie, a marijuana joint at home is okay.
People used to leave their heart in San Francisco. Today, you might lose your mind there!