By:
Quentin Kopp
03/09/11 8:12 PM
San Francisco imposes a so-called “payroll” tax upon approximately 6,000 local businesses that have payrolls in excess of $250,000 per year. City Hall extracts a 1.5 percent tax from the gross amount of the payroll. The tax produces over $342.5 million annually. It is a dumb tax; it means every time a business grossing $250,000 or more reduces unemployment by adding a job, City Hall rewards the business with a tax.
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