As Anatole France said, "In its majestic equality, the law forbids rich and poor alike to sleep under bridges, beg in the streets and steal loaves of bread."
I just had my bike stolen out of my back yard here in the Mission two days ago. I'm still mad. But odds are that it was some homeless addict, and enforcing the law and putting him in jail for a few weeks will be no more effective in solving the problem of petty theft than not enforcing the law.
I would certainly like to see the cops arrest the people up the stolen goods chain, the people who actually have something to lose. Crime shouldn't pay. But the way to stop people stealing to survive is to help them find some more productive way to survive.