Twitter is famous (or infamous) in San Francisco for getting a generous payroll tax holiday to build its new home in the city. Salesforce, meanwhile, is winning notoriety for volunteering to pay extra taxes to build new homes for residents. Now the cloud software giant’s unshy co-CEO Marc Benioff is challenging Twitter CEO Jack Dorsey–with, of course, a tweet–to propose his own solution. Welcome to the crazy politics of epic wealth and poverty by the Bay. At issue is Proposition C–a November ballot initiative that would charge San Francisco businesses an extra 0.5% tax on gross receipts over $50 million, raising up to $300 million per year to fund affordable housing construction, rent subsidies, and expanded services and shelters to get people off the streets. Salesforce and Benioff broke ranks with the city’s biggest companies (not all of them tech firms, BTW) by announcing support for the proposition on October 10. The San Francisco Chronicle reports that Prop C would add about $10 million to Salesforce’s annual tax bill. In addition, Benioff and Salesforce are spending a combined $2 million to campaign for Prop C. In contrast, the “Twitter tax break” as it’s known, allowed Twitter and several other qualifying… Read full this story
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Marc Benioff just Twitter-shamed Jack Dorsey over San Francisco’s homeless tax plan have 331 words, post on www.fastcompany.com at October 12, 2018. This is cached page on Vietnam Art News. If you want remove this page, please contact us.