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alphaGT
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San Francisco Forces Large Corporations to Pay "Homeless Tax" - Mish - Global Economic Analysis

As usual, the government ruins everything it touches. For all the money they’ve taxed for the sake of the homeless, they could give them all paychecks! Cheaper than the money they are spending to keep them on the street. My question is, what’s to prevent these companies from moving? Once all of the biggest companies have fled the high tax region, unemployment will skyrocket! And the tax will bring in no money.
Taxing the rich seems like such an easy solution to modern problems, but it’s just not that simple. In a free country where the rich can move to a lower tax area, or even another country where their presence will be appreciated, there is a limit to how far you can push them.

Commented 2192 days ago

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Beginning of the headline :Expect homelessness to rise in San Francisco as a result of the city's passage of a homeless tax. Proposition C, the largest corporate tax increase in San Francisco history, passed with 59.9 percent of the vote. As a result, San Francisco's Biggest Companies Now Forced to Pay a Homeless Tax. Companies with more than $50 million in gross annual receipts will now be taxed on any gross annual receipt revenue in San Francisco. The city already has a gross receipts tax, which is usually calculated b... Read More

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