We rejected it because it's not actually a tax on CEOs & their personal income. It's a tax on companies w/ high pay ratios, which is inherently regressive. Companies like Google & Meta w/ lower pay ratios would be exempt.
Pete Coe
San Francisco voters appear to have rejected a significant tax increase on highly paid corporate executives that had been opposed by some of the most powerful people in the tech industry.
The proposal was seen as a possible measure of how residents felt about the recent flood of money into the city as a result of the A.I. boom.
