 San Francisco voters approve taxes on CEOs and big businesses. That's the headline, but that's not the truth. It's much more nefarious than that. In an effort to address economic disparity laid bare by the corona pandemic, San Francisco voters overwhelmingly approved several tax measures targeting property owners and big businesses with CEOs paid far higher than the average workers. Under the new law, any company whose top executive earns 100 times more than the average worker will pay an extra 0.1 surcharge on the annual business tax payment. If a CEO makes 200 times more than the average employee, the surcharge will increase to 0.2. Voters also agreed to sweeping business tax changes that will lead to a higher tax rate for many tech companies and a higher transfer tax on property sales between 10 million 25 million. In quotes, we're not going to shed any tears of penthouse dwellers have to cough up. The results show that San Franciscans are concerned about the growing economic inequality. City Supervisor Matt Hannie, the author of the measure titled Overpaid Executive Tax said Wednesday, the very wealthy are gaining more and more. They're gonna much richer during the pandemic while everyone else has remained stagnant. Says the fucking politician, Jesus Christ, man. The hypocrisy is obscene. San Francisco or California in general has become, it's not becoming, it is a fucking, it's just slum, it's shit, man. We continue. In quotes, we need the wealth that has been generated in the city to be shared more broadly with the workers. This sounds like fucking communism to me, man. Crazy. Since March COVID restrictions have shut down the critical elements of San Francisco vibrant economy, tourist scarce legions of workers and tech in the city's main business and financial districts have left yadda yadda. In quotes again, the middle of the pandemic field shutdown is a wrong time to raise taxes no fucking shit. I said this at the beginning of COVID. As soon as they started doing lockdowns, I said the first thing they're gonna do and the easiest thing, and if you study history and you look at what politicians and governments have done, the first thing they do is tax property. Income tax is difficult because depending on where you are, and that's more kind of like the honor system depending on what you claim, but property tax, they know the blue book value of your property. They know exactly what it's worth, whether you're doing land transfer, whether you're selling, and the first thing they do is they start taxing the shit out of property. Even here, Ontario, the Ontario party, the conservative party is talking about increasing property tax. So what this happens is you have a hollowing, hollowing out of the city. Anybody that has two brain cells left is leaving San Francisco or has left San Francisco outside of California. Joe Rogan left, he's gone, a lot of other famous people have left, and you get to understand the people that have the means, which I mean by means is finances, to move around, they will leave. What this does is hurts the regular person, and it's not just for the rich. They say this, but it's not. Anybody that has a property, if you have a regular property and you sell it, let's say it's just blue book value, regular house, you're getting taxed more. So basically, they're trying to just steal more money from you, and it's the hypocrisies app scene. Politicians telling you, ah, the people are hurting, we need to share more. Says the one who's making $150,000 a year plus full benefits from the government with 100% immunity. Look at this. Rents in San Francisco have fallen as much as 31%. Rents continue to drop in some of America's most expensive cities. With more people working from home for the foreseeable future, many renters are seeking to live in more affordable areas that can offer them extra space. This especially impacted San Fran, which led the nation rental prices decline in September. According to a report from Realtor.com, the medium rent for a studio apartment fell to 22.85 a month down 31% a year ago. The report showed the medium rents for one bedroom apartments dropped 24% to 2,873 a month and two bedrooms fell from 3900 down 21. In quotations, renters now have the upper hand over landlords in many of the nation's most expensive cities. In addition to San Francisco, many of California's high cost counties have seen significant drops in rent as well. One bedroom in San Mateo County is down 13% from last year and 12% in Santa Clara County. In September, rent for one bedroom was down in 36 out of the 100 largest US counties. So this is what's happening. It's a hallowing out. People are leaving. You think people are just going to stay there and be like, hey, okay, let me bend over and accept as much tax as possible. Many, many big tech corporations aren't coming back to San Fran. They're moving to more friendly jurisdictions, whether that is Florida, whether that is Texas, whether that is Delaware, whether that is Nevada, or in fact, they just leave United States altogether and their legal jurisdiction for the most part is Ireland, Northern Ireland or somewhere else around the world like the Maltese or whatever. But these politicians thinking, imposing these more tax taxation laws is going to help the regular person. It fucking hurts my head. If you are living in California and you haven't considered moving, I would consider moving. I would really ask yourself, what benefit do I have living here? Yeah, the weather is great. Weather is great in Texas. Weather is great in many other southern states. It's not just California. You Americans, we're a fucking curse in Canada. We got winter and then we got construction season. Those are the two seasons we have. Spring and fall kind of, it just bypasses quickly. So basically we're a two season country for the most part. So we don't have the luxury of moving anywhere that's kind of warmer. We have the luxury of moving out. Do I want to have a minus one or do I want to have minus 10? Oh, the decisions I need. But this is the writings on the wall and it's going to get worse. Watch in April next year when the real economy starts getting hit, where mortgages are completely deferred and defunct, where the economy catches up to reality, where over the last now 10 months or even a year, all the major small businesses, gyms, restaurants, bars, clubs, the real economy, the cash economy has crumbled, the domino effect. We will see a massive hollowing, a massive exodus of people leaving California and in general leaving any major polythene city, even here in Toronto, people are leaving. I have a piece of property north of Toronto a couple of hours and the realtor I was talking up there has said the property sales have been through the roof. He's lived there for 20 years. He's never seen this much interest for people wanting to leave the city because people now can work from home and they can live pretty much anywhere they want for one tenth of the cost, the cost living in the city for like a little piece of shit, one bedroom apartment. And so these politicians are coming around and the only thing they know is how to steal. That's it. This is pure theft. But the craziest thing, they're trying to steal from people that have the means to, I want to say escapist, but they just say no. If you're a big multi-corporation and you have property in California, you have smart accountants, you have smart people that can figure out ways to whether to sell it, liquidate it, get out of there and completely move any trace elements of your physical and legal presence in San Fran. And what's San Fran? San Fran is going to become Detroit. That's exactly what San Fran is going to become. It's going to become Detroit overrun with social Democrats who think they know better, who are pretty much communists in the skies. And if you have any fucking brain cells and if you see the writing on the wall, leave. Peace out, guys.