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San Francisco Mass Exodus is Real - 40% Decline in Tax Base

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iam4liberty:
Why is Nancy Pelosi and other Californian politicians so desperate to control midwest and southern states they used to regularly call "flyover" area?  Newly released studies show their tax base has collapsed and they are desperate to use federal government to transfer the wealth of these areas to their pockets. It is the Hunger Games in real life.

https://www.foxnews.com/politics/san-francisco-tax-revenue-plunge-resident-exodus.amp
San Francisco tax revenue plunge points to resident exodus
Sales tax revenues declined by more than 40% this spring

San Francisco experienced a 43% year-over-year decline in sales tax revenues during the pandemic, which has been credited to an exodus from the expensive city.

San Francisco’s chief economist Ted Egan attributed the drop in revenue that occurred between April and June to a flight of individuals from the city, rather than a decline in activity due to the pandemic.
...
The latest report from United Van Lines shows that outbound moving requests from the city were 128% above the national average at the start of September.

Data from Zumper showed a continued yearly decline of 20.3% in median rent prices in San Francisco this month, which was among the largest yearly decline ever recorded – and marked a milestone as prices dropped below $3,000 for a one-bedroom in the pricey metro.

Egan said ApartmentList data shows that rent prices declined in San Franisco by a larger amount than any other city they track as well.

iam4liberty:
As pointed out above, this has nothing to do with the pandemic.  That is just a cover story to hide the gross mismanagement and corruption of these states and cities.

https://www.washingtonexaminer.com/news/congress/pelosi-proposes-massive-state-bailout-in-next-spending-measure
Pelosi proposes massive state bailout in next spending measure

House Speaker Nancy Pelosi said Democrats will seek a massive federal cash infusion for struggling state and local governments that would be equivalent to the nearly $700 billion Congress has pumped into struggling businesses
...
“There will be a bill, and it will be expensive,” the California Democrat told reporters Friday in the U.S. Capitol.

iam4liberty:
Clowns.

https://www.sfchronicle.com/business/amp/S-F-is-facing-its-worst-fiscal-crisis-in-15632261.php
S.F. is facing its worst fiscal crisis in decades. Here’s the city’s 41-point plan for recovery

But with the city in its worst fiscal crisis in decades, achieving the goals could be tough if they require new funding. The city resolved a $1.5 billion deficit — on paper, in the current budget — using money expected from Proposition F. Officials need voters to approve the business tax ballot measure next month.
...
The city also will allocate nearly $6 million for artists and cultural workers, including a universal basic income program that pays $1,000 per month to 130 artists for at least six months, starting early next year.

iam4liberty:
https://sanfrancisco.cbslocal.com/2020/09/30/san-francisco-rents-continued-steep-pandemic-nosedive-in-september/amp/
San Francisco Rents Continued Steep Pandemic Nosedive In September

cmxterra:
Cue Nelson HAHA

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