Still wrapping my mind around Prop C in SF. Not sure why a tax on gross receipts would make any sense at all https://www.sfchronicle.com/business/article/San-Francisco-s-business-taxes-are-a-confusing-13331125.php …pic.twitter.com/BtyIpHuQdo
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But also, the tech industry itself actually lobbied for the change from payroll to gross receipts in 2012.https://www.businessinsider.com/ron-conway-and-san-francisco-vote-in-proposition-e-gross-receipts-tax-2012-11 …
Gross receipts makes sense unless you have low margins. A lot of tech is moving from 99% margins to high volume and tight margins. I don’t think it is working as a single block here
agree it’s always worth talking about the failures of direct democracy in california, but also think there’s some value in parsing the specifically heinous and unjust tax we just passed. i’m hoping animation here will lead to vigilance, finally.
How is redistributing the wealth of the most recent economic boom to care for the city’s poorest residents unjust?
I’m all for it. Bad ideas aren’t mutually exclusive!
Also: I don’t know why that article uses Square as an example, as it *would* be a payroll tax for them (>$1B/yr, office in SF) https://ballotpedia.org/San_Francisco,_California,_Proposition_C,_Gross_Receipts_Tax_for_Homelessness_Services_(November_2018) …
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