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
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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.
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