The measure, put forward by Supervisor Matt Haney,The higher the wage inequity between the CEO and the company's average workers, the higher the surcharge. So large firms that pay their executives 100 times more than their median workers would have a 0.1% tax. If a CEO's salary isThe San Francisco Chronicle
A spokesperson from Haney's office confirmed to Business Insider in an email that the tax would apply to any large company engaging in business in the city of San Francisco, whether or not they are incorporated in the city. That could include tech giants that call San Francisco home — including Salesforce, Twitter, Square, and Uber — and their high-earning executives.
The surcharge is designed to potentially save hundreds of healthcare jobs and improve public health for vulnerable residents as the city continues to stave off the spread of COVID-19. Haney
I would assume, that surrounding cities probably won't do that, and make it a 'selling' point to move their HQ/Offices (or for companies to just decided to get rid of SF real estate all together). The purge in commercial RE is coming.
rabbisacks - look what you started 😀
199 times the salary of average employees is how you game the system.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
30 quotes that take you inside Albert Einstein's brilliant mind - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Einstein had a brilliant mind but also had a set of brilliant Maths Proffs on his team, Einstein had a vision and an idea and would get the maths worked out with his team of Maths Proffessors.
Source: BusinessInsider - 🏆 729. / 51 Read more »
San Francisco supervisor proposes a tax on companies with 'overpaid' executivesA measure on the ballot this November in San Francisco would levy a special tax on businesses that pay their highest-earning employee 100 times or more the median salary of its San Francisco workers. When will California realize they can’t tax their way out of a spending problem? lol, now thats funny..... lets change SF to that its not the land of opportunity 'Punish the Monkey let the organ grinder go' Mark Knopler
Source: CNBC - 🏆 12. / 72 Read more »
Millennials are abandoning NYC and San Francisco and moving to these 10 cities instead - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I am glad Pittsburgh isn't on that list. Don't come here! Us Millennials already here don't need more! Nice to see Charlotte at 5 here NYGovCuomo
Source: BusinessInsider - 🏆 729. / 51 Read more »
San Francisco DA is suing DoorDash over worker classification - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. acab And now they'll all be out of work
Source: BusinessInsider - 🏆 729. / 51 Read more »
Here are the top 10 US colleges that tech giants hire from - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. UT Austin
Source: BusinessInsider - 🏆 729. / 51 Read more »
San Francisco’s District Attorney Is Suing DoorDash for Alleged Unfair Business PracticesSan Francisco’s district attorney is suing DoorDash for alleged unfair business practices (via EaterSF)
Source: Eater - 🏆 368. / 59 Read more »