Here's an unintended consequence of how this tax undermines the general progressivity of both federal and CA tax brackets for individuals:
The CEO's marginal tax rate for employment income is much higher than the marginal tax rate of the median worker of the company. By shifting $X from CEO income to the median workers, both the state and the IRS will end up collecting less in income taxes.
Not for or against this SF tax, but want people to be aware of the direct/indirect effects possible depending on how companies change their compensation structure.
