Here’s something to brighten your Monday morning: a short but hilarious video explaining just how Twitter got its tax break from San Francisco, enacted by an animated Biz Stone, SF mayor Edwin Lee and other key players.
In a minute and a half, you’ll finally get a handle on the whole Twitter tax cut fiasco going on in San Francisco.
The tax cut which was proposed several months ago and approved last week would give Twitter and other businesses who move to the less-than-upstanding Mid-Market area (which you’ll see in the video) some incentives to help reinvigorate the area. San Francisco mayor Edwin Lee was one of the leaders of the tax break, which would eliminate payroll taxes for any company hiring new employees through the next six years. And according to this video, this will save Twitter about $22 million per year.
However, as the video explains, there are some who feel that the tax break will simply incentivize other businesses to lobby the government to approve beneficial tax breaks for themselves.
Take a look at Biz threatening to take his flock of little blue birds away from San Francisco, and Lee begging him to stay below:
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