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California Reaps Google Windfall

Posted by ryuzaki0 on from the good-news-for-the-state-coffers dept.

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."

2 of 61 comments (clear)

  1. A rising tide lifts all boats by BadAnalogyGuy · · Score: 3, Insightful

    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.

  2. Changing politics? by PIPBoy3000 · · Score: 4, Insightful

    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.