New Tax in San Francisco, aimed at executives will likely kill yet more jobs
Feel good measures like this often in the end produce pain.
(From Jonathan Turnley)
Voters within the City of San Francisco passed Proposition L, a measure designed to tax corporations having CEO compensation in excess of 100 times the median compensation of line employees…
For example, let us assume an arbitrary company that has 1,100 employees of which 100 are based in San Francisco…. At the administrative office twenty employees are maintenance and housekeeping, forty are well paid professionals, thirty are clerical workers, and nine are senior management. What to do? Lay off all the housekeepers and maintenance engineers and outsource them from a building contractor, then they can move the clerical division to Oakland or have the workers telecommute from outside the city three out of five days per week.
This article was originally posted here: https://www.ac2news.com/2020/11/new-tax-in-san-francisco-aimed-at-executives-will-likely-kill-yet-more-jobs/.
