San Francisco voters approve first-in-the-nation CEO tax that targets income gap

[Luther]

I hope they say Later dude!

San Francisco voters approved a new tax that will target businesses with the most disproportionately paid CEOs.

Measure L required a simple majority to pass and was approved by 65.18% of voters Tuesday night, making San Francisco the first U.S. city to move to tax both private and public businesses based on how “overpaid” their top executives are.

The measure, introduced by Supervisor Matt Haney and backed by the board, is expected to generate between $60 million and $140 million a year in general funds starting in 2022, according to an estimate by the city. Haney said he wants most of the money to be directed towards health services.

“It was the right time and the right city, with a very big turnout,” said Jim Wunderman, President and CEO of the Bay Area Council. The council and other business groups, including the California Chamber of Commerce, opposed the measure but did not fund the opposition campaign. The measure was among four tax proposals approved by San Francisco voters on election day.

The tax will levy an extra 0.1% to 0.6% on gross receipts made in San Francisco for companies whose highest paid executive makes 100 times or more its median worker’s salary.

San Francisco voters approve first-in-the-nation CEO tax that targets income gap

Wealthy companies whose chief executive is paid 100 times more than their median worker will pay a higher gross receipts tax.

calmatters.org

 

[bluesmoke]

Later, dude. I'm moving to Arizona!

 

[Slartibartfast]

I hope they say Later dude!




The tax will levy an extra 0.1% to 0.6% on gross receipts made in San Francisco for companies whose highest paid executive makes 100 times or more its median worker’s salary.

San Francisco voters approve first-in-the-nation CEO tax that targets income gap

Wealthy companies whose chief executive is paid 100 times more than their median worker will pay a higher gross receipts tax.

calmatters.org

This will back fire since you would need a much larger body, like a state for something like this would work.

 

[ludin]

I hope they say Later dude!




The tax will levy an extra 0.1% to 0.6% on gross receipts made in San Francisco for companies whose highest paid executive makes 100 times or more its median worker’s salary.

San Francisco voters approve first-in-the-nation CEO tax that targets income gap

Wealthy companies whose chief executive is paid 100 times more than their median worker will pay a higher gross receipts tax.

calmatters.org

i see a ton of ceos moving out of california with their businesses. there is 0 reason to have a business in CA. It simply costs too much.

 

[bongsaway]

For some reason or other a whole bunch of people think 'the boss' making a hundred times what you do is fine. Back in the day when america was really prospering from top to bottom the average ceo made twenty times his median worker.

The dollar is our god and nothing shall infringe on our rights to gather as much as possible. Too much is never enough for some folks.

 

[ludin]

This will back fire since you would need a much larger body, like a state for something like this would work.

no it will back fire because all soak the rich taxes back fire. why? they simply take their money and move. they do it every time.

just look at ny.

 

[Slartibartfast]

no it will back fire because all soak the rich taxes back fire. why? they simply take their money and move. they do it every time.

just look at ny.

The pandemic hit NY quite hard.

 

[ludin]

The pandemic hit NY quite hard.

nothing to do with it. cuomo is having a jet.com momment because a ton of rich people left moved out of ny and they are not coming back.

in fact one of the largest hedge funds just left ny for florida.

 

[Slartibartfast]

nothing to do with it. cuomo is having a jet.com momment because a ton of rich people left moved out of ny and they are not coming back.

in fact one of the largest hedge funds just left ny for florida.

Telecommunications advancements no longer mean that one has to go to an urban center to do business in certain cases. This isn't a tax or government thing, it's just technology and it means liberals will be more spread out.

 

[ludin]

Telecommunications advancements no longer mean that one has to go to an urban center to do business in certain cases. This isn't a tax or government thing, it's just technology and it means liberals will be more spread out.

avoiding the argument. they are leaving because they can't stand the high taxes.

it would make 0 sense to bring the same failed ideas with you to where you moved from.

it logically makes zero sense.

 

[Slartibartfast]

avoiding the argument. they are leaving because they can't stand the high taxes.

it would make 0 sense to bring the same failed ideas with you to where you moved from.

it logically makes zero sense.

no, I am explaining the phenomenon.

 

[Helix]

they'll probably just change their job title to independent contractor : associate consultant management specialist. that's how they **** everyone else over.

 

[apdst]

This is unconstitutional. It'll get thrown out if it's ever challenged.

 

[Luther]

For some reason or other a whole bunch of people think 'the boss' making a hundred times what you do is fine. Back in the day when america was really prospering from top to bottom the average ceo made twenty times his median worker.

The dollar is our god and nothing shall infringe on our rights to gather as much as possible. Too much is never enough for some folks.

For some reason or other a whole bunch of people think 'the boss' making a hundred times what you do is fine.

1st, it's none of your business what they make.

2nd, you don't like it , go somewhere else and work?

 

[Luther]

For some reason or other a whole bunch of people think 'the boss' making a hundred times what you do is fine. Back in the day when america was really prospering from top to bottom the average ceo made twenty times his median worker.

The dollar is our god and nothing shall infringe on our rights to gather as much as possible. Too much is never enough for some folks.

Back in the day

Yeah, "back in the day", did they have to pay workman's comp insurance?

 

[Logical1]

I hope they say Later dude!




The tax will levy an extra 0.1% to 0.6% on gross receipts made in San Francisco for companies whose highest paid executive makes 100 times or more its median worker’s salary.

San Francisco voters approve first-in-the-nation CEO tax that targets income gap

Wealthy companies whose chief executive is paid 100 times more than their median worker will pay a higher gross receipts tax.

calmatters.org

Another stupid mistake. Businesses will simply leave, and all the tax money will go with them.

And a bonus!!!!!!!!!!!!!!! They wont have to smell San Franshitsco!!!!!!!!!!!!!!