Esteemed megalomaniacs of the San Francisco Board of Supervisors and associated soulless blood thirsty voters insatiably craving a government so massive and implacable, that the proposed earth-sized diamond core of Jupiter is not dense enough to even qualify as a paper weight at city hall. The exponential carats cannot account for civic budget increases overwhelming approved by residents in a symbiotic unhealthy relationship that raises red flags on domestic violence radar screens.
Hedging parlay bets with a busy board of epic deflections that included massive internecine from a slightly controversial Presidential election, the continued ace card of the Coronavirus, and teenage party killer Greta Thunberg backed by Twitter CEO Jack Dorsey in earning early admission to Arizona State and majoring in Trumpian sociological studies, the elected officials are set to cash out in an unheralded plethora of winnings made possible by the abundance of luck. With the thick smokescreen in place, the duality of board members and citizens effectively passed a city measure charmingly titled as the “overpaid executive tax” in basically penalizing business leaders for demanding high salaries. With geographical and demographic specifics thrown out the window, the damming decision by voters to codify the shaming of ultra-successful earners is dumbfoundingly stunning, despicable, and a coordinated attack on the economy and the basic liberties of society. Unfortunately, what happens in San Francisco cannot always be contained to the performance art nightmare of lawlessness, homelessness, and constant onslaught of the American Dream.
Known as Proposition L, the “L” standing for myriad of choice words in the minds of reasonable individuals, slaps a sharp business tax increase on CEO’s who make 100 times the average employee salary, and that is where it begins. After being conjured up by the elitist members of the city’s governing organ, the measure was voted into law in no doubt fashion as 65% of residents and party members in the various gulags and neighborhoods of the city, said yes to what Bernie Sanders would laud as “democratic socialism, and a win for the workers.” Supporters of the bill estimate that the between $60 million and $140 million will pour into government coffers as a result, and residents can expect a refurbishment of public heroin dens featuring an intricate gothic woodworking motif, and a massive influx of public funds handed out to the entitled and the lazy. This is how to put a dent in a $1.5 billion budget, and just another disgusting example of how progressivism fails on so many levels.
In continuing to impose strict restrictions on law-abiding citizens in all aspects of life, the city faces a homeless crises, a surging crime rate, and economic stagnation, despite being within proximity to Silicon Valley and the treasure trove of tech empire wealth. The last gun shop packed up and moved outside of city limits in 2015.
Basically, a CEO who earns $8.5 million and with a staff that averages an $85 thousand salary per year, will be forced to pay an additional 1% on b & o taxes. The horrific sliding scale of the measure of the measure increases the punishment per 100 times the average worker salary. Thus 200 times more equates to 2%, 300 time more to 3%, and on and on, until business large and small are taxed to oblivion, or make the wise decision and relocate official headquarters to an area that offers incentives, rather than gouging dissections with blunt instruments.
The city of Portland, Oregon implemented the first CEO shame tax in 2018, stipulating that only the highest paid members of publicly trade companies are subject to the egregious excise. The San Francisco legislation takes the process a step further and three butcher knife cuts deeper, as leaders in all types of businesses will be subject to the glorified monetary penalty.
As with most liberally motivated policy, the entire set of circumstances were not brainstormed or thoroughly thought through. Under the the Obama administration, the Endangered Species Act was restructured and rewritten, in giving the Feds to the power of eminent domain in identifying proxy habitats for threatened species. For example, an 1500 acre timbered tract of land in Texas could theoretically be deemed the suitable environment for a woodpecker species in Colorado, if the proper documents were signed sealed and delivered. Property owners fearing for their undeveloped land being seized or becoming valueless, began a frenetic campaign to clear cut or improve the acreage. What began as a good-hearted overstretch to ultimately preserve species deemed for annihilation, in turn ended badly and worsened the situation by land owners overcompensating in saving their livelihood, illustrating a net loss for the conservationist.
The reinforced CEO tax in San Francisco is another example of an overreaction that will now disproportionally and adversely affect mid-sized businesses, and encourage reckless protocol and behavior instead of promoting equality.
The estimated $100 of millions of dollars infused into the infrastructure of the city will end up god knows where, as once again scenario is born where those who work the hardest and the smartest in fairly earning the fruits of success, will shoulder the burden of progressive platitudes based on guilt and the idea that public projects and programs should be funded by those successful and responsible. The mentality that somehow societal engineers hijacking the mechanism of government for reallocating funds are entitled to other people’s money is dangerously laughable. But the joke is not so funny when the business community which already faces the challenges of the Covid-19 pandemic and a regime change head on, prepares for an economic recession spurred by an unsustainable tax code.
This is where bad things start, at the point where government adopts the radicalized ideals of unpatriotic bullies, and puts intolerance into law. And the way to neutralize a bully is to hit back, but with a dearth of Constitutional enforcers in the liberal jungle of San Francisco, dreams are only reality in remembering a proud history.
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