Effects of Economic Depression

California has Approved a New Tax that will Affect Major Tech Companies

<p><img class&equals;"alignleft size-medium wp-image-646" src&equals;"https&colon;&sol;&sol;economicdepression&period;org&sol;wp-content&sol;uploads&sol;2018&sol;11&sol;google-mountain-view-300x147&period;jpg" alt&equals;"google mountain view" width&equals;"300" height&equals;"147" &sol;>Voters in the city of Mountain View and East Palo Alto&comma; California voted to introduce a new measure that would force large tech companies to pay a tax based on the number of employees&period; They were all opting to claw back money from the tech giants&comma; which may may mark a turning point in the relationship between cities and the tech companies that bring them both rising prosperity and widening inequality&period;<&sol;p>&NewLine;<p>The initiative &&num;8216&semi;Measure P&&num;8217&semi; could bring in the cities with a budget of up to 6 million dollars&period; Funds will be spent on building affordable housing&comma; solving transportation and other issues related to the rising cost of living&period;<&sol;p>&NewLine;<p><&excl;--more--><&sol;p>&NewLine;<p>The city will charge companies on a progressive scale depending on the total number of employees&period;<&sol;p>&NewLine;<p>the Google headquarters are located in Mountain View&comma; so the opponents of the new measure say that Google is the largest company in the district&comma; and it will unfairly take over about 60&percnt; tax&period;<&sol;p>&NewLine;<p>A similar initiative was approved in San Francisco&period; They accepted the &&num;8220&semi;Offer C&&num;8221&semi; &&num;8211&semi; it differs in that the tax is charged on the income of large enterprises of the city and does not depend on the number of employees&period; This proposal was also included in the ballot paper&period;<&sol;p>&NewLine;<p>Billionaire and Salesforce CEO Mark Benioff&comma; who supported proposition C &lpar;Prop C&rpar; in San Francisco&comma; tweeted&colon; &&num;8220&semi;The victory of Prop C means that the homeless will have the home and help they really need&excl;&&num;8221&semi;&period;<&sol;p>&NewLine;

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