Twitter to Flee San Fran to Avoid Punitive Taxes?
Twitter has to pay 1.5% payroll tax for the privilege of keeping their headquarters in the city of San Francisco. So to avoid the higher taxes, they are considering moving their HQ somewhere where they don’t have to fork over the extra cash to greedy liberal leaders of the city. So in an effort to keep them around, they are debating whether to give them a 6 year tax break, and that idea is of course angering other greedy liberal city leaders.
City Supervisor John Avalos, a former union organizer, shows what liberals like himself truly think- that money earned from business belongs first to the government. From the Examiner here:
San Francisco’s best shot to prevent Twitter from migrating south faces a key vote Wednesday on whether to give the microblogging service a six-year tax break.
The growing San Francisco-based company has explored a move to Brisbane, where its business costs would be lower. San Francisco has a 1.5 percent payroll tax whereas Brisbane does not have one.
Supervisor Jane Kim, whose district includes the mid-Market Street area where Twitter would move, is advocating for the passage of legislation that would give Twitter a six-year payroll tax break if it decides to move into the building at Market and Ninth streets. The tax break would apply to all qualifying businesses that relocate to the portion of the Tenderloin and the mid-Market Street area that city officials hope to revitalize
Supervisor John Avalos said the proposal doesn’t seem fair given the financial struggles of residents in his district. “Who are the [Twitter] investors?” he said. “Probably some of the wealthiest people in this country. And we are giving them more wealth.”
Avalos is a scumbag who simply wants to punish success. And to suggest that they should go after the investors and punish them too for Twitter’s crime of making money from their technology and efforts is pretty detestable too. Keep it up San Francisco. High taxes like yours might be able to convert your city into Detroit. If Twitter moves out of state entirely they could save even more dough.
Thanks to Doug at MM for the story.
“And we are giving them more wealth.” So when Twitter gives them the finger and splits town, and takes it’s property and other tax payments with them, I suppose Mr. Supervisor would then accuse them of theft.
Why not pass a law making it a crime to change your tax district? If you follow the liberal logic to the logical conclusion, that must be where they are headed.