Twitter CEO Jack Dorsey on Friday sounded off against a San Francisco measure to increase corporate taxes that would give the city more funding to tackle its homeless crisis.
Dorsey said he was opposed to San Francisco’s Proposition C because he believes one of companies he leads as CEO, Square, will be taxed at unfair rates compared to other major companies such as Salesforce.
The Twitter head wrote in a series of tweets that with the proposition’s passage, Square could potentially face more than $20 million in taxes in 2019 compared to Salesforce.
I admit that while I come at this as a citizen first, there’s an unfairness I see in my role of CEO of Square (this does not apply to Twitter). Companies like Square and Stripe would be taxed at a significantly larger total contribution than much larger companies like Salesforce.— jack (@jack) October 19, 2018
We’re happy to pay our taxes. We just want to be treated fairly with respect to our peer companies, many of whom are 2-10x larger than us. Otherwise we don’t know how to practically grow in the city. That’s heartbreaking for us as we love SF and want to continue to help build it.— jack (@jack) October 19, 2018
Dorsey and Salesforce CEO Marc Benioff, who strongly supports the proposition, have butted heads on the matter.
Benioff publicly questioned Dorsey’s commitment to fighting homelessness in a separate set of tweets last week.
The Salesforce CEO has contributed $1 million to campaigning for the initiative.
Proposition C would increase corporate taxes for companies based in San Francisco and put that money toward tackling homelessness in the city.
Polling has shown mixed support for the measure, from upwards of 56 percent of voters backing it to around 47 percent, depending on how it is framed.
San Francisco has a notorious homelessness crisis that has been exacerbated by its affordable housing crisis, with its real estate values the most expensive for urban areas in the U.S.
Despite being the 13th largest city in America, San Francisco has the 7th largest homeless population.