All about risk
Link: https://www.sfchronicle.com/projects/2023/maps-migration/
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Author(s): Nami Sumida
Publication Date: 2 Jun 2023 (also 31 May 2023) accessed 7 Jun 2023
Publication Site: San Francisco Chronicle
Link: https://www.sfchronicle.com/politics/article/Federal-stimulus-nearly-wipes-away-San-16010321.php
Excerpt:
The federal stimulus package likely to be signed by President Biden this week will erase the majority of San Francisco’s projected $650 million budget deficit over the next two years, saving City Hall from having to make painful service cuts and layoffs — for now.
While the federal stimulus is a boon for the economy in the short term, it will not solve all of the city’s financial woes. San Francisco’s ultimate recovery heavily depends on how quickly parts of the local economy bounce back, from tourists visiting the city to employees returning to downtown offices.
Without a substantial comeback in hotel, sales and business taxes, City Controller Ben Rosenfield said that Mayor London Breed and the Board of Supervisors will likely grapple with a fragile budget over the next few years.
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The city learned in December it had a $125 million surplus for the current year due to higher-than-expected property tax revenue, increased federal reimbursements and lower expenses. But that was only for the current year.
Breed ordered every city department to propose cuts to trim budgets by 10% over the next two years. Those cuts could have had noticeable impacts, from fewer 911 operators to fewer trial attorneys in the public defender’s office.
Author(s): Trisha Thadani
Publication Date: 8 March 2021
Publication Site: San Francisco Chronicle
Excerpt:
That is what happened in San Francisco, where voters passed a wealth tax beyond efforts for the state or federal level. It is described as an “overpaid executive tax” which would apply to those firms in the city which pay their officers more than 100 times the median worker salary. While decisions on whether to enact tax hikes are best left to local residents instead of to the bureaucrats in Sacramento or the District of Columbia, the new wealth tax in San Francisco could now create unintended negative effects, including a significant exodus of rich earners who move out of the city.
The Bay Area is home to the widest income gap in California. Those local residents in the top 90th percentile earned over 12 times more than those local residents in the bottom 10th percentile. The combination of historic market policies and current socialist policies established such separation of classes in the state. The success of the technology industry in tandem with high tax rates and building restrictions created this situation where someone could earn over $100,000 a year and live in his car.
Author(s): KRISTIN TATE
Publication Date: 27 November 2020
Publication Site: The Hill
Link: https://www.sfgate.com/bayarea/article/drug-overdose-data-report-San-Francisco-fentanyl-15873680.php
Excerpt:
A record 699 people died of overdoses from January through December in 2020, according to a new report from the Office of the Chief Medical Examiner. This number may seem surprising amid the global COVID-19 pandemic when San Francisco has shuttered schools and businesses to prevent deaths. In S.F., 235 people passed away from complications of the coronavirus in 2020.
Author(s): Amy Graff
Publication Date: 15 January 2021
Publication Site: SFGate