Skip to comments.Calif. stands to reap windfall from Facebook IPO
Posted on 01/12/2012 12:05:28 PM PST by pf flyers
What's good for Facebook and its employees could be very good for California's treasury.
If the Menlo Park company goes public this year, as many have speculated, the state stands to reap hundreds of millions of dollars in capital gains taxes from Facebook investors and employees profiting from stock transactions. That could bring a much-needed windfall to a state government facing a $9.2 billion deficit.
(Excerpt) Read more at sacbee.com ...
If I owned Facebook and I read this, I would be packing for Reno, Nevada.
It’s all fun and laughs until Facebook decides to relocate to Austin, TX or Mumbai.
Typical of government; speculating on non-existent revenue. I’d bet they have already spent it too.
And California could reap a windfall by slashing spending! Greedy liberal politicians out to grab more to line their pockets, at the expense of others.
My son-in-law just relocated his business to Austin, TX a few months ago. Business climate is excellent there. Harder to see my daughter and grandchild. Could have been worse if they went to Mumbai!
Mixed feelings about this.
1. Don’t want to encourage CA to continue reckless spending from this huge cash infusion.
2. Don’t like govt waiting like vultures to devour profit from a company they did nothing for.
3. Don’t mind liberals getting their asses taxed off by other liberals.
I hope they suck every penny out of the little comi Mark Zuckerberg who stole the hole idea for Facebook anyway.
Do they owe any taxes before they sell the stock? I’d move to TX first
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