Prof. Steve Hanke, a John Hopkins economist, shared an article on how San Francisco is turning into a ghost town amid rising taxes and looming lockdown restrictions.
This has caused many businesses and residents to shut shop and leave town. Those living in the Bay Area are beginning to wonder why they are paying skyrocketing taxes for a city that has completely shut down business activities and movement to curb the Covid-19 virus infection and fatality rates.
Reports suggest that the entire downtown is deserted, with no sign of food trucks and local workers.
Even the big techs have abandoned the city to work remotely, residents have moved out into the suburbs for safety and rents are crashing in the city, the article noted.
Business owners are sceptical about the city returning to normal.
They suspect that it could take up to 10 years looking at the pace at which people are leaving the city.
San Francisco was re-opened recently due to a fall in coronavirus cases.
However, city dwellers believe that this is temporary and that case numbers are likely to rise in the winter ahead, which does not leave much time for the state and local governments to take draconian measures to tackle the health crisis.