I've been researching the SF Budget & Prop C today. Learned that the top 3% of our city's businesses produce 57% of all business taxes. Business taxes generate $1B/year, accounting for 8% of our $12.2B city budget. When top companies like @stripe or @CharlesSchwab leave... (1/x)
-
Show this thread
-
... it removes those taxes from our sources of funds. Currently San Francisco is facing an expected $400M deficit/budget shortfall in 2021. Given we are anticipating a recession (e.g., housing selloff) it could be higher. (2/x) https://sfmayor.org/sites/default/files/Budget%20Instructions%20PowerPoint%202019%20WEB%20FINAL.pdf …
1 reply 0 retweets 12 likesShow this thread -
While I deeply support the ethos of Prop C - I now understand why Mayor Breed initially opposed. We don't know how to spend $300M effectively (no audit in recent years) and this could lead to big businesses leaving SF (3/x)
1 reply 0 retweets 12 likesShow this thread -
If more big companies leave, our finances will be in peril - meaning future budget cuts to important city services like schools, public health, etc. I hope we are doing exit interviews so we can understand what factors led to these companies deciding to leave (4/4)
2 replies 0 retweets 6 likesShow this thread
there was an audit in 2019 that found that HSH was insufficiently staffed: https://sfcontroller.org/sites/default/files/Documents/Auditing/HSH%20Staffing%20Analysis%20May%202019%20Final.pdf …
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.