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cnredd 11-01-2020 03:01 PM

Business Tax Based on Comparison of Top Executive's Pay to Employees’ Pay
 
If San Francisco thinks your company pays your top executive too much money compared to the low level workers, they want to punish the company and take some of their profits...:eek :mad

Business Tax Based on Comparison of Top Executive's Pay to Employees’ Pay

Quote:

Prop. L would impose an additional tax on the annual gross revenues of companies based on the compensation ratio of their highest paid executives and median San Francisco employee. The tax would apply to any company that does business in San Francisco, whose highest-paid employees make at least $2.7 million annually and whose executive pay ratio exceeds 100:1 The ratio would be calculated based on the total compensation (including wages, bonuses, commissions, stock options and other forms of pay) of the company’s highest-paid managerial employee and the median compensation of the company’s San Francisco-based employees.
This is a referendum where the voters will decide, but this being San Francisco, a reasonable and logical "no" is in doubt...:crazy

...but if passed, say goodbye to even more companies...:yes :shrug

GetAClue 11-02-2020 07:50 AM

Re: Business Tax Based on Comparison of Top Executive's Pay to Employees’ Pay
 
This is just more stupidity from the left in Kalifornia. It's so dumb that one could almost make the case that Texas and other Republican run states are secretly pushing for laws like this to drive business out of Kalifornia and into their arms. :D

AZRWinger 11-02-2020 08:03 AM

Re: Business Tax Based on Comparison of Top Executive's Pay to Employees’ Pay
 
Quote:

Originally Posted by GetAClue (Post 995060)
This is just more stupidity from the left in Kalifornia. It's so dumb that one could almost make the case that Texas and other Republican run states are secretly pushing for laws like this to drive business out of Kalifornia and into their arms. :D

Neighboring communities will welcome businesses fleeing the tax. :eek

GottaGo 11-02-2020 09:27 AM

Re: Business Tax Based on Comparison of Top Executive's Pay to Employees’ Pay
 
One has to wonder if proposals such as these are an attempt to reduce the population in California so only the elite can afford to live their, and finally have the socialistic state they have been cultivating for the last 50 years.

We've got one more sibling+spouse to get out of California. They claim 4 more years to retirement and out, but I'm thinking that they might make it 2 years. They have an RV and spend a lot of time in Kansas visiting with 2 grandsons (soon to add a granddaughter). At least they have the means to exit at will since they've already sold their house.

GetAClue 11-02-2020 10:05 AM

Re: Business Tax Based on Comparison of Top Executive's Pay to Employees’ Pay
 
Quote:

Originally Posted by GottaGo (Post 995078)
One has to wonder if proposals such as these are an attempt to reduce the population in California so only the elite can afford to live their, and finally have the socialistic state they have been cultivating for the last 50 years.

We've got one more sibling+spouse to get out of California. They claim 4 more years to retirement and out, but I'm thinking that they might make it 2 years. They have an RV and spend a lot of time in Kansas visiting with 2 grandsons (soon to add a granddaughter). At least they have the means to exit at will since they've already sold their house.

As long as they don't bring a left wing voting history with them. :D

FrancSevin 11-02-2020 01:16 PM

Re: Business Tax Based on Comparison of Top Executive's Pay to Employees’ Pay
 
In my case, if such taxes were invoked, I would have to get a raise to qualify.

Most small business have owners who take from the business, only what they need. I operated in that mode for over 35 years of miserliness, and finally have the success that would allow me to take a large salary. I don't. Far too many younger families depend on our business to meet their dreams.

I'm not special. Contrary to public opinion, it is how many, if not most, businesses operate and thrive. Companies, like GM, who don't,,,, get taxpayer funded bailouts from the Gubmit.

Lumara 11-02-2020 01:44 PM

Re: Business Tax Based on Comparison of Top Executive's Pay to Employees’ Pay
 
Quote:

Originally Posted by GetAClue (Post 995079)
As long as they don't bring a left wing voting history with them. :D

A lot of Californians are moving to Tennessee, so I share that sentiment. A friend of mine has a T-shirt that says Don't California My Tennessee.

FrancSevin 11-02-2020 01:56 PM

Re: Business Tax Based on Comparison of Top Executive's Pay to Employees’ Pay
 
Quote:

Originally Posted by Lumara (Post 995112)
A lot of Californians are moving to Tennessee, so I share that sentiment. A friend of mine has a T-shirt that says Don't California My Tennessee.

Decades ago there was a saying, "However goes California so goes the nation." they were referring to style fads for clothing, music and even architecture designs. The California ranch house that dominates subdivions of the time is a good example. We all envisioned California life style with warm sun, Bellbottom pants, bikinis, and beach living. But, it never really came to reality.

Still, I worry that the politics which have ruined the sunshine life of the average California citizen, could enter and infect the states in flyover country.
Colorado, Utah, Arizona and even Texas metro areas, have succumbed.

There is a concentration of wealth in all of these states and the Blue stain of Liberalism seems to follow the money. Houston, San Antonio, Dallas, Denver, Phoenix, all suffer the socialist plague.

jamesrage 11-14-2020 01:36 PM

Re: Business Tax Based on Comparison of Top Executive's Pay to Employees’ Pay
 
Quote:

Originally Posted by cnredd (Post 995034)
If San Francisco thinks your company pays your top executive too much money compared to the low level workers, they want to punish the company and take some of their profits...:eek :mad

Business Tax Based on Comparison of Top Executive's Pay to Employees’ Pay

This is a referendum where the voters will decide, but this being San Francisco, a reasonable and logical "no" is in doubt...:crazy

...but if passed, say goodbye to even more companies...:yes :shrug

The voters in San Fransicko passed it.I don't feel bad for any company that knowingly chooses to stay in a left wing loon city and gets ass raped in taxes. Because they made the choice to set up shop in that city and they most likely help election some of these crazy left wing loons into office. One of my best friends' family move out of that ****hole decades ago. So if they can do it then so can these companies who have a lot more resources that they did.


https://calmatters.org/california-di...ax-income-gap/

San Francisco voters approved a new tax that will target businesses with the most disproportionately paid CEOs.

Measure L required a simple majority to pass and was approved by 65.18% of voters Tuesday night, making San Francisco the first U.S. city to move to tax both private and public businesses based on how “overpaid” their top executives are.

The measure, introduced by Supervisor Matt Haney and backed by the board, is expected to generate between $60 million and $140 million a year in general funds starting in 2022, according to an estimate by the city. Haney said he wants most of the money to be directed towards health services.

GottaGo 11-15-2020 10:38 AM

Re: Business Tax Based on Comparison of Top Executive's Pay to Employees’ Pay
 
Quote:

Originally Posted by Lumara (Post 995112)
A lot of Californians are moving to Tennessee, so I share that sentiment. A friend of mine has a T-shirt that says Don't California My Tennessee.

Never fear, these two are FAR from from the liberal side. They will likely end up in Kansas or a neighboring state.


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