No. of Recommendations: 4
San Francisco Has a Plan to Hit Its New IPO Millionaires Where It Counts
https://gizmodo.com/san-francisco-has-a-plan-to-hit-its-new-...

The city is facing a strange and pressing question about how to deal with the avalanche of wealth that’s likely to be unlocked during this season of IPOs. In the face of a widening wealth gap, an intensifying housing crisis, and a highly visible homeless crisis, one city official is proposing new taxes on the companies going public.

San Francisco Supervisor Gordon Mar revealed a proposal at a board of supervisors hearing on Wednesday that would put a 1.12% payroll-tax covering stock compensation on the ballot in November 2019. The proposal would combine with the existing 0.38% payroll tax and ultimately mean a restoration of San Francisco’s old 1.5% payroll tax rate — which was the rate until 2011 when the city changed it in a bid to attract more tech firms.

</snip>


intercst
Print the post  

Announcements

This is a Politics Free Board
Politically charged posts are not permitted on the Metar Board. If you make a political post, and it is alerted, the post will be removed. Thanks!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.