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San Francisco is considering a ballot measure that could expand its overpaid executive tax, raising rates for the wealthy in an attempt to combat income inequality.
The city’s proposed tax was approved in 2020. After it was scaled back in 2024, it could be on the ballot again in June.
Although critics call it government overreach into private business, proponents say it is an attempt to address what they say is outrageous compensation.
Here are the details on the tax and the debate unfolding in California.
What the Tax Does
The overpaid CEO tax applied to companies with more than 1,000 employees and more than $1 billion in revenue that had top executives who earned more than 100 times the median salary of their San Francisco-based workers….
The city’s proposed tax was approved in 2020. After it was scaled back in 2024, it could be on the ballot again in June.
Although critics call it government overreach into private business, proponents say it is an attempt to address what they say is outrageous compensation.
Here are the details on the tax and the debate unfolding in California.
What the Tax Does
The overpaid CEO tax applied to companies with more than 1,000 employees and more than $1 billion in revenue that had top executives who earned more than 100 times the median salary of their San Francisco-based workers….
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