It seems that Twitter has made ridiculous demands upon the city of San Francisco. They want payroll tax relief, as in no payroll taxes, for an eight year period. It’s awfully irresponsible in these tough times for corporations to so callously take advantage of the mess that has largely been created by the private sector. LINK
Twitter is demanding an eight year local tax break – or else. That’s right, the company is threatening to ditch the city of San Francisco for Brisbane if it doesn’t receive special treatment.
According to the SF Appeal, Twitter has officially asked for an eight-year break from paying any payroll tax at all, a proposal the city has (understandably) rejected thus far.
Instead, SF Supervisor Jane Kim has submitted a compromise proposal that would allow Twitter to remit the same payroll tax bill as in 2010 (when it had an estimated 350 employees), until 2017 or beyond.
“We understand technology companies’ desire to grow, but it was hard for me for [city revenue] to take a hit like that,” Kim told The Appeal.
“We wanted something that’s going to bring jobs to Mid-Market, not just, ‘You can move to Mid-Market and pay no tax.'”
Unsurprisingly, Tom Foremski of SiliconValleyWatcher leveled harsh criticism at Twitter over its extortionist behavior, noting that the company loved to loudly “tout its commitment” to social responsibility.
I’ve no doubt this is happening all over the place and isn’t going to help in the long run. Cities, states and the federal need to tell the corps to take a hike. We can’t keep handing our asses to them and survive. It’s that simple. I so wish our politicians weren’t so dam stupid.