Posted on 04/05/2011 3:47:34 PM PDT by SmithL
San Francisco, CA (AP) --
City lawmakers have approved a tax break to keep Twitter from fleeing San Francisco.
The measure passed by the Board of Supervisors 8-3 on Tuesday exempts the microblogging service from paying payroll tax on new hires if it moves to the city's neglected Mid-Market area.
The exemption applies to any business in the blighted neighborhood, but city officials call Twitter the big fish that could spur economic growth.
Twitter is already outgrowing its current San Francisco headquarters, and the company is poised to expand from a few hundred to a few thousand workers.
Mayor Ed Lee announced last month that Twitter would sign a six-year lease in the neighborhood pending the tax break. Critics have called the plan an ill-conceived corporate giveaway.
(Excerpt) Read more at sfgate.com ...
Democrats admit that tax breaks to large corporations work.
Twitter is for Twits.
“Critics have called the plan an ill-conceived corporate giveaway.”
I agree, SF shouldn’t give these tax breaks.
Twitter should move to my state. We will agree to not demand taxes on business income that we currently don’t receive!
We will just accept the few thousand jobs and the tremendous economic activity that generates.
“Twitter is for Twits.”
I’m guessing that if Microsoft pulled this, they would be referred to as “occupying slum properties, tax free and exploiting the poor.”
No. Like all Leftists, they only want to give special favor to their special friends or sex partners. They’ll destroy anybody else.
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