alistair
6.5 Creedmoor
San Francisco passes 'Overpaid Executive Tax'
The new law adds a 0.1 percent tax on companies whose executives earn 100 times more than the average worker.
www.nbcnews.com
San Francisco voters pass 'Overpaid Executive Tax'
- Thread starter alistair
- Start date
www.nbcnews.com
GOYABEAN
.950 JDJ
#FUCKEMSan Francisco passes 'Overpaid Executive Tax'
The new law adds a 0.1 percent tax on companies whose executives earn 100 times more than the average worker.
alistair
6.5 Creedmoor
because it is a leftist policy to tax people who work hard for their money.
Deplorable Me
.700 Nitro Express
The classic progressive socialist liberal mentality. They have a hive mentality. CA for now but give our news masters time.....
Understood but that still doesn’t have anything to do with Biden. He doesn’t even hold a public office.
Mr. terzmo
.308 Win
.1 percent is .001......one onethousanth...so multiply 5 million by .001..is 5k...that's a real big hit for someone making 5 mil. Now when the average Joe see's a 2 or 3 percent increase in anything....can both feel the same "pain"
They'll just move HQ's. Great move SF. More shit for your streets now.
libertysnake
.338 Win Mag
Between this crap, and letting violence run rampant, it's going to be a tough four years.
Hope Butch Anderson up here doesn't put up with looting bullshit in Dutchess.
Hope Butch Anderson up here doesn't put up with looting bullshit in Dutchess.
i believe it is inferred that once Biden takes over they will try to push this kind of unequal taxation nationwide...similar to once he takes power they will try to push the NY/CA gun laws Nationwide.
Saltwater60
20×102mm Vulcan
Biden has already proposed a millionaires tax and an increase in anyone making $400,000 and above. This is right in line with what he has spoken about.
All that will happen is they will find a loophole like give a bonus instead or leave San Francisco.
All that will happen is they will find a loophole like give a bonus instead or leave San Francisco.
libertysnake
.338 Win Mag
My uncle in law lives down near Austin TX, in Kyle. He was talking to the Sheriff down there the other day.
Basically he was told, afaik, by the Sheriff that a lot of Trump supporters down there have had their cars and homes vandalized. The reason it came up was my uncle in law had damage to his car, and the Sheriff immediately asked if he had a Trump sticker since there has been so many cases of this happening.
This is the world we live in now. Where political violence and brownshirt-ism is OK.
Basically he was told, afaik, by the Sheriff that a lot of Trump supporters down there have had their cars and homes vandalized. The reason it came up was my uncle in law had damage to his car, and the Sheriff immediately asked if he had a Trump sticker since there has been so many cases of this happening.
This is the world we live in now. Where political violence and brownshirt-ism is OK.
The AOC crowd is going to be disappointed when they find out Biden isn’t the social savior they’ve been waiting for.
DrBleachCocktail
.44 mag
I hope America get everything they wanted from Biden. Socialist laws and poor law enforcement service. I also hope when things get really frustrated the media tells them that everything is fine and great.
Saltwater60
20×102mm Vulcan
Maybe 52% of them got what they wanted but 48% got the exact opposite.
DrBleachCocktail
.44 mag
Brother I am hoping that SC takes at least 1 2A amendment case. People will riot regardless of who wins. The far left will cause more chaos if trump wins though but we all doubt trump will win.
livingston
20×102mm Vulcan
This is why folks did not put signs on their lawns ... I will say one sees few US flags flying when their is a biden sign
TEOTWAWKI inc.
.338 Win Mag
The last time I changed jobs((Q3 2017) my salary increased but my take home pay decreased slightly (new tax bracket). I am about to get a promotion with about a 10% salary increase. If my take home pay decreases or doesn't change I will actively join the fight against communism in this country. I don't want to keep working harder so the government can take more of my money,
spat
.950 JDJ
That's how "tax the rich" always goes.
They're paying 10% and someone whines that they should pay 20%. Suddenly they're like "nope, I'm out, have fun with your 20% of $0".
pjzwtl
.308 Win
The gov trying to dictate a company’s pay structure via tax policy? Where’s Antifa? Sounds Fascist to me.
spat
.950 JDJ
That's the new communist takeover strategy.
They pretend like companies are private entities and blame "capitalism" for all the trouble. Meanwhile government dictates every facet of how they're run to the point that they might as well be the soviet "bureaus".
jimc
.223 Rem
The article says "A municipal analysis estimated more conservatively that the tax would bring in approximately $60 million to $140 million, but noted that the amount could vary year to year. "
If it's $5K for someone who makes $5M, they must have a TON of bazillionaires in SF to make their projections.
Stuckinny
.44 mag
The higher tax bracket only applies to income above that amount. So if you end up one dollar above the 25% tax bracket, only that one dollar is taxed at that new bracket, the rest at the lower tax bracket. Also, even if your base pay is above a higher tax bracket, deductions come out of the highest taxed money first which could lower your final tax bracket depending on how far over you are. This is the whole issue with 401K which Biden wants to "fix", the deduction is off of the highest taxed money first making it more valuable to higher earners, which is really bad unless it is a solo 401K that most politicians take advantage of, then it is fine.
Edit, just reread your post, you probably filled out your W4 differently or had different pre tax withdrawals, but on your taxes, all would work itself out.
TEOTWAWKI inc.
.338 Win Mag
W4 was the same. I did get a bigger tax refund, didn't have to pay the obamacare fine that year IIRC, and my new insurance deductions were minimal. Either way, I have more taxes withheld than many of the people I work with make annually, and I am not an exceptionally high earner.
Stuckinny
.44 mag
Yeah, not minimizing your original comment at all. The whole tax system sucks. It is a race to the bottom. Without taxes I could have retired at 40 and gotten out of this rat race.
TEOTWAWKI inc.
.338 Win Mag
No worries. My previous employer could have been screwing something up too.