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My understanding was that most of the tech opposition came from 'lower' margin businesses as it's a tax on gross receipts (revenue) vs profit so it disproportio
by alonmower 8y ago
My understanding was that most of the tech opposition came from 'lower' margin businesses as it's a tax on gross receipts (revenue) vs profit so it disproportionally hurts high volume low margin businesses (like stripe, square, lyft) vs high margin software businesses (like salesforce). I think it's a little unfair to demonize Dorsey and others who do seem to genuinely want to help solve the issue, but took issue with the specifics of this measure.
https://www.bloomberg.com/news/articles/2018-10-19/square-s-dorsey-sees-unfairness-in-san-francisco-homeless-tax https://www.bloomberg.com/news/articles/2018-10-19/square-s-...
- abalone 8y agoDorsey campaigned for the gross receipts tax in 2012. In his capacity as Square CEO. Here’s a video of him doing it.[1] He had no problem with the gross receipts structure for a low margin business. He only flipped his position when it became about helping the homeless. Again this is just another superficially plausible sounding argument (along with “no accountability”, etc.) that’s just cover for opposing anything suggesting the tech industry bears some responsibility for exacerbating the homelessness situation and should pay to help. [1] https://www.sfgate.com/business/article/SF-Citi-video-plugs-in-tech-Prop-E-3930793.php https://www.sfgate.com/business/article/SF-Citi-video-plugs-...