Pushing Back on Business, Jobs Taxes
A number of Bay Area cities are teeing up new taxes on the November ballot aimed at jobs and business that will hurt the region’s economic competitiveness and make it vulnerable when the next recession rolls around. Bay Area Council CEO Jim Wunderman joined KQED Forum this morning (Aug. 24) to talk about why specialized, local taxes are the wrong answer for addressing problems like housing, traffic and homelessness whose scale and complexity require regional solutions. Taxing jobs will only discourage new investment in the Bay Area, drive companies to look elsewhere when they are expanding and make it far more difficult for the region to recover when the economy inevitably takes a turn for the worst. Wunderman also argued that none of the proposed taxes come with reforms aimed at regulatory barriers and other obstacles that often drive up the cost of addressing problems.