Local residents demand Twitter pay it forward

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When the Bay Area's techie-elite got richer Nov. 7, its poor refused to get poorer.

San Francisco-based technology company Twitter went public. By the time the New York Stock Exchange closed, more than 13 million shares of the online social networking and microblogging company had been traded, bringing Twitter's value up to $31 billion.

But there are serious doubts those riches will make it out of the company's office at 1355 Market St., as expressed by the nearly 100 local workers and residents who gathered outside the Mid-Market office building to express their outrage at this possibility.

The rally was organized by a coalition of activist groups including South of Market Community Action Network (SOMCAN), Senior and Disability Action, Eviction Free San Francisco, and the San Francisco Housing Rights Committee. At noon, the protesters held a press conference to articulate their concerns.

Organizer Angelica Cabande from SOMCAN opened the press conference by asking, "We are here today to ask Twitter, 'What is their public offering to San Francisco?'"

Several speakers decried the estimated $22 million payroll tax break that city leaders gave Twitter in 2011 after the company threatened to move to Brisbane.

"We have Twitter on a tax-free perch," organizer Tony Robles from Senior and Disability Action explained, "not engaged in the community they've set up shop in. It's like a virtual thing—they're here, but they're not here." 

Comments

or face a repeal of its tax breaks

Posted by lkdjlk on Nov. 12, 2013 @ 10:45 pm

Until quantitative easing or life support to deleverage creditors (banks and financial institutions), signatories to fraudulent and unconventional financial instruments agreements, globally, is suspended, speculator hunger is incentivized to consume this liquidity. Twitter is only one of these speculators that drives expansion-recession-recovery cycles. It is imminent that just as some of you and I experienced the last Dot-com bubble deflation, it is only a matter of time before this one will follow suit.

Although citizens should expect that The State or acting State is responsible for redistribution of wealth and development, citizens should also expect that businesses pay taxes that provide sustenance for the ongoing activities of the State and citizens. Citizens, neither States should be subordinate to and accept charity from the private sector. This manifests a degraded state of affairs.

Posted by Awayneramsey on Nov. 13, 2013 @ 2:18 pm

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