You’d think taxing the rich would be a no-brainer for labor unions at a time when Democrats say they want to take more populist stands and the wealthy are getting huge federal tax breaks as health care and food benefits for the most vulnerable are being cut.
But unions in San Francisco are not united behind the soak-the-rich proposals being floated as a solution to backfill federal budget cuts. They’re split on how best to approach taxing the rich — and where the proceeds should go.
Several city labor unions are rallying around a proposal aiming to make San Francisco’s June ballot dubbed the Overpaid CEO Act. It would tax large corporations whose top executives earn more than 100 times the median salary of their workers. It could raise an estimated $200 million to backfill the federal cuts, proponents say. A group of unions in Los Angeles is pushing a similar tax in that city. Supporters say they’ve gathered enough signatures to place the San Francisco measure on the ballot and will submit them to city officials next week for review…