California’s Google-based Tax System Roars On
The San Francisco Chronicle says that what’s good for Google’s stock market value is good for California:
California took in a record $11.3 billion in personal income tax receipts in April, $4.3 billion more than it collected last April. It’s almost certain that a significant chunk of April’s haul came from Google employees — perhaps one-eighth or more of the tax receipt gain.
Democratic gubernatorial candidate Phil Angelides is asleep at the switch. Where is the proposal for a windfall profits tax on search engines (Yahoo is a California company too)? For a government-sponsored alternative, such as Jacques Chirac has proposed? And is there a way for his developer friends to build on this “online real estate” they keep hearing about?
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We faked news about this in a post last year titled Solution To California’s Revenue Problems: Google Searches.
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