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San Francisco’s tax for the homeless

Proposition C will be on San Francisco’s ballots this November 6th, 2018. 

If approved by voters, the following additional taxes would be levied on businesses in order to create a dedicated fund to both support and prevent homelessness in the city:

For businesses that pay a gross receipts tax, an additional tax of 0.175 percent to 0.690 percent on those gross revenues in San Francisco over $50 million;

For businesses that pay the administrative office tax, an additional tax of 1.5 percent of their payroll expense in San Francisco.

Marc Benioff – the founder of Salesforce (which happens to be the city’s largest employer) – has emerged as the lead supporter of Prop C. Between personal and corporate funds, he has contributed almost $8 million to getting this passed.

But other billionaires in the Bay Area, such as Jack Dorsey of Twitter, have taken a different position, instead siding with Mayor London Breed, who does not support Prop C. 

If you’re interested in this topic, the New Yorker has a piece called, The Battle of the Big-Tech Titans Over San Francisco’s Tax for the Homeless

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