San Francisco’s new tax system

San Francisco is all set to introduce a new tax after the ordinance was passed and approved by the voters. This tax will be imposed on the CEO’s of the state. The aim is to do away with the income gap existing. The ordinance, now called the ‘Proposition L’, will add an additional tax for any company that pays its executives far more than the employees operating in SF. The surcharge for a company who’s executives get paid 100% more than its employees will be 0.01%, and so on. This ordinance is new and has been subjected to mixed reactions by both, the general public and the concerned executives.

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