San Francisco Controller Publishes Candid Report On How Badly They Need Twitter

San Francisco Supervisor John Avalos hates the idea of businesses not paying a 1.5% tax on payroll and employee stock option gains (see his brilliantly stupid quote here ). The fact that San Francisco is the only city in California to charge a payroll tax at all doesn't seem to matter to him. Or that it's the only city in the world to charge a local tax on stock options. Or that Twitter and other startups will simply leave if the taxes stand. Or even, apparently, that the city's own economists disagree with him. A new report published by the city and county's Office of the Controller outlines the absolute absurdity of San Francisco's tax treatment of technology startups. The entire report is embedded below.