Also let's be real for companies that didn't start remote & whose execs all live in the Bay, in practice this'll mean they're looking to outsource all the low-prestige gigs and removing what little hope of advancement or career progression ppl in those roles might've held
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SF also has a gross receipts/payroll tax, though not for Twitter (for now) https://oewd.org/central-market-street-and-tenderloin-area-payroll-expense-tax-exclusion …
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We are OKish as long as the richest workers and executives stay here - "personal income tax" includes capital gains for some reason. But yeah we really need tax reform. It's no way to fund things.
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Higher tax burden = lower tax base ... no way around it
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Interesting only 2 years ago there were for lease signs all around mid peninsula, especially at office parks favored by tech companies. What a difference 2 years makes!
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Interesting line of thinking. Looking up % of CA residents sending kids to private schools 2015-16 @ 7.4% and falling https://www.cde.ca.gov/sp/ps/cefprivinstr.asp …
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Yeh this has been going on for awhile in CA. Slow process tho. State funds are going to take a hit as Silicon Valley bleeds out to states with a lower cost of living. => Cheaper land. Cheaper labor. Cheaper energy. Lower taxes.
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In Sacramento, just 20 years ago HP and Intel had large IT workforces. HP IT mostly gone from here, and Intel IT been doing large cuts. Took 20 years tho.
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What you say? Parking spot stealing and traffic increasing workers leaving? Schools closing to discourage parking spot and traffic increasing families from moving here? Sounds like sweet relief to long time residents like Jim:https://twitter.com/nextdoorsv/status/1027265749499490304 …
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