San Francisco’s beleaguered business community has found a major benefit to the coronavirus that has helped them make a dent in the city’s sky-high taxes… and fin fact, they can thank the idiots running the city for fit.
You’ll recall, of course, that the fools who are running our biggest cities into the ground forced everyone to stay home for months and even years at a time during the early days of the coronavirus hysteria. So, many businesses decided to allow their employees to work at home so that they didn’t have to completely shut down.
These work-at-home rules were celebrated by the leftist dolts running the nation’s cities, of course. So, many companies went for work-at-home (or remote working) as a way to keep employees earning and the businesses open.
Now that remote work has come back to bite cities in the ass. For one, the city of San Francisco has been losing tens of thousands in business taxes because companies have shut down offices to allow people to work at home, and now they aren’t paying the taxes they once were.
Per the San Francisco Standard:
Tax revenues have already taken a hit: during the first year of Covid, the city collected 45% less on a big business homelessness tax, and 12% less in the tax for all businesses.
But even more troubling for city officials is that tax revenues may not bounce back because workers may not come back. The remote revolution is hitting SF particularly hard because the city is a software hub, with over two-thirds of its public firms in the coding business. Tech’s highly paid employees can easily work from their homes or beachfront chalets, so the tax savings become yet another reason to allow workers to stay remote. Over 50% of the city’s public companies have said their workers can stay remote for the foreseeable future.
“The pandemic opened up the world to ‘You don’t need an office to do business in SF to be recognized and be legitimate,’” said Kaylyn Kleinhans, state and local tax practice leader at accounting firm Sensiba San Filippo. “As more companies realize what their tax savings are, they are saying, ‘We’re not going back to the office.’”
According to the paper, San Francisco is the most expensive city in America to have a business. Just take a look at the numbers according to the paper:
Now, that is hilarious. The same rules the good city fathers of San Francisco touted during the scamdemic is now costing it millions! LOL.Commentary