You're right about my estimate being off though and it was a disservice to the discussion. An equivalent revenue from sales tax would require ~2.1%. In SF, that would move the total sales tax from 8.6% to 10.7%; in Oakland, 13.8%. A large increase would likely bend some consumer behavior (chasing sales that have feet, aka move to the informal/grey market).
> Again, the optimal answer from an economist is not necessarily desirable from an emotional perspective of the people being governed.
This is the real difference between us imo. I believe the optimal answer is based on realistic projections on revenue collected and what prevents bankruptcy. The compromise answer is what passes a vote and in fact, the bankrupt answer.
I would prefer we didn't raise taxes and instead reduce spending. But given the complexity of reducing spending and the scale of our deficit, we will have to do both. On the side of raising revenue, a land tax offers a way of taxing a wealth that cannot flee.