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There will be a ballot initiative this Nov called "The Overpaid Executive Tax".
Will tax companies with highly paid execs.
This will likely win, and many companies will think twice about HQ in SF.
We lost @CharlesSchwab and @stripe last year. Their taxes went elsewhere. https://twitter.com/MattHaneySF/status/1272763116909031424
Will tax companies with highly paid execs.
This will likely win, and many companies will think twice about HQ in SF.
We lost @CharlesSchwab and @stripe last year. Their taxes went elsewhere. https://twitter.com/MattHaneySF/status/1272763116909031424
In some ways I support this. I think SF has too much talent and $$$s. Other cities could benefit from more large companies.
In other ways I am saddened. The trajectory of SF is clear. We are going into a recession. Our budget will be slashed and residents will lose home equity.
In other ways I am saddened. The trajectory of SF is clear. We are going into a recession. Our budget will be slashed and residents will lose home equity.
Our local government is dominated by very left-wing progressive leaders.
None have run a business. None have even worked for a company I believe... Let alone been an exec in private sector.
There is a fundamental lack of understanding of the Law of Unintended Consequences.
None have run a business. None have even worked for a company I believe... Let alone been an exec in private sector.
There is a fundamental lack of understanding of the Law of Unintended Consequences.
Taxes on the rich make sense in the short term, but will cripple the SF economy in the long run.
All those services we have... They are paid for by businesses and home owners.
Both are feeling unsupported right now.
All those services we have... They are paid for by businesses and home owners.
Both are feeling unsupported right now.
I have much to learn here, but my intuition says SF gov is taking advantage of its captive audience and making risky moves.
The take rate fee cap on delivery companies is a great example. Where is the data to support these laws? Where is the partnership with biz community?
The take rate fee cap on delivery companies is a great example. Where is the data to support these laws? Where is the partnership with biz community?
The businesses and residents of SF are the ones funding our government. If the city loses even 10% of this set we are in big trouble.
We need more business leaders to step up and run for office. To get engaged. To build bridges. Or we will erode the base of our economy.
We need more business leaders to step up and run for office. To get engaged. To build bridges. Or we will erode the base of our economy.
Final thoughts -- I think what bothers me here is three things:
1) lack of data to support the thesis (Portland having a similar tax is not a positive IMHO)
2) the name -- "overpaid" sends a strong signal to companies re spirit of the law
3) lack of biz community endorsement
1) lack of data to support the thesis (Portland having a similar tax is not a positive IMHO)
2) the name -- "overpaid" sends a strong signal to companies re spirit of the law
3) lack of biz community endorsement
