[jcnnghm]

Sanders plan will adversely impact the bay area, and home prices in particular. If you're making over $250k, the social security phase out goes away, you have 2.2% of extra income tax, and 6.4% of new payroll taxes. Add in 11% for CA, and you could easily be losing 70% to tax all-in at the margin. It'll be tough to get employers to pay an extra $100k a year to cover a $30k rent differential. Considering that you can already afford much higher quality housing with a higher standard of living outside of the bay area on half the money, why stay out here? San Francisco is gross anyway.

This plan will push the bay area in particular far to the right on the laffer curve. What'll happen to US GDP growth if the tech industry starts imploding and moving out? It's possible to make more in the bay area than in the rest of the country, but if you're only retaining 30% of that excess, all of which is soaked up by long-time landowners and the insane cost of living, why bother.