California Reaps Google Windfall

theodp writes "The SF Chronicle reports that California took in a record $11.3B in personal income tax receipts in April, $4.3B more than it collected last April, attributing a significant chunk of the surprise windfall to Google employees. Fourteen of Google's top execs and directors sold $4.4B worth of stock last year, including founders Sergey Brin and Larry Page, each of whom unloaded about $1.3B."

Comments

A rising tide lifts all boats

[BadAnalogyGuy]

California ought to take this "windfall" and invest in the hospitals in southern California. The alarming rate at which they are closing is, well, alarming.

I'm sad to think that the government of California would be more likely to squander the cash on pet projects rather than bolstering their ability to help people unable to pay for health care.

Re:A rising tide lifts all boats

[CAIMLAS]

Oooor, instead of throwing money out the window into a huge fire, they could do something useful with the money - like stopping the influx of illegal aliens through the southern border.

You do realize that's why the hospitals are closing, right? They're required to provide healthcare to anyone who "needs" it - all the way from triage to birth to cancer treatment - regardless of whether or not the person can pay. Thus, illegals eat for free.

Changing politics?

[PIPBoy3000]

I keep hoping that the California software industry starts outpacing the entertainment industry. That way the politicians there will start introducing legislation backed by folks like Google and not folks like the RIAA.

Of course, a few billion dollars is chump change to the entertainment industry. There's a long way to go.

Re:Cost of living...

[sfjoe]

How the hell can you guys afford to live there?

I own a home in San Francisco and no, I'm not making five times your median income. You can live quite nicely if you don't have to go out and buy whatever shiny new gadget is being advertised on TV. I own a car but rarely drive since public transportation gets me where I want to go. I spend roughly $20 / month on gas. In Ohio, $20 might last a week driving from one mall to another to do my shopping. You just re-prioritize your spending is all.