Tweet
San Fran is predicting a budget deficit of $387 million this year. That has not stopped them from begging Twitter, with tax dollars, to move to a blighted (read that crime ridden) area of the City.
"In a move designed to coax Twitter, the booming Internet startup, to relocate into a blighted section of downtown San Francisco, city officials announced on Tuesday a proposal to freeze payroll tax increases for businesses located along a stretch of Market Street and in the Tenderloin district.
The legislation, which is interim Mayor Edwin M. Lee’s first major policy piece since taking office last month, would exempt growing businesses from paying additional payroll taxes on new hires for six years. The tax exemption would apply only to a zone that spans mid-Market Street, from 6th Street to Van Ness Avenue, as well as a 30-square-block swath of the Tenderloin."
Once again government is selecting winners and losers. One guaranteed loser are the people of San Fran who will have to pay for this multi billion company to come into the blight of San Fran.
This is crony capitalism--government helping the biggies at the expense of the people. Twitter can afford to pay taxes like any other company--but why should they? The socialists of San Fran like Twitter.
More...
"In a move designed to coax Twitter, the booming Internet startup, to relocate into a blighted section of downtown San Francisco, city officials announced on Tuesday a proposal to freeze payroll tax increases for businesses located along a stretch of Market Street and in the Tenderloin district.
The legislation, which is interim Mayor Edwin M. Lee’s first major policy piece since taking office last month, would exempt growing businesses from paying additional payroll taxes on new hires for six years. The tax exemption would apply only to a zone that spans mid-Market Street, from 6th Street to Van Ness Avenue, as well as a 30-square-block swath of the Tenderloin."
Once again government is selecting winners and losers. One guaranteed loser are the people of San Fran who will have to pay for this multi billion company to come into the blight of San Fran.
This is crony capitalism--government helping the biggies at the expense of the people. Twitter can afford to pay taxes like any other company--but why should they? The socialists of San Fran like Twitter.
More...