BAIT, SWITCH and GRAB
A regressive sales tax is counterproductive. Prop K uses the widely felt desire to aid the homeless to divert funds from cash-strapped city services to one city agency—which we have already given billions of dollars in sales taxes, bonds, fares, fees and fines. For any one of the following reasons, Vote No on Prop K:
- City Economist’s economic impact report of Prop K: “The tax increase is expected to generate nearly as much tax revenue as it costs in consumption spending [lost retail sales] —approximately $154 million by 2017-18.”
- As shoppers flee San Francisco for lower sales taxes, particularly along the southern border and easily into nearby neighborhoods, small businesses will be disproportionately impacted.
- With ever-rising sales taxes and fees, low and middle-income residents and families will be disproportionately impacted.
- Double-Dipping: San Francisco’s sales tax already has an existing fixed transportation allocation.
- Prop K is the economic-equivalent of rearranging deck chairs on the Titanic—instead of managing the City’s $9.6 billion budget, which exceeds that of many states and small countries.
- Despite billions of dollars in expenditures, with a $241 million annual budget, homelessness is worsening.
- Despite billions of dollars in expenditures, Muni’s per capita ridership has declined—indicating the need for sound decision-making, not just money.
- Despite billions of dollars of expenditures and one of the largest budgets in history, voters are taxed more and more for less and less.