How Facebook's Zuckerberg Will Help California
Thank God Facebook and Zuckerberg, its creator, have a corporate base in California, a state in the red and in serious need of money to run its services. Zuckerberg's Facebook will go public soon and its estimated worth is $96 billion.
California is expected to reap a needed $189 million in taxes very soon and up to $1 billion within a year and $2.5 billion within five years. This all stems from the capital gains from stock sales and when Facebook's employees cash in their shares, the state will tax it 10%.
The 27 yr. old Zuckerberg doesn't seem to "really" mind writing a check this big. I guess if made that kind of money, heck, what is $189 million? I am sure even he cannot fathom this amount of money stemming from an online social site that began in a dorm room with only a few things.
Besides California, the Feds also will be receiving a nice check of $714 million due for Federal income tax. Can you imagine even writing a check for this amount? I squirm starting at $1,000.
I guess, when you have this kind of money, this young (or, at any age) it all becomes somewhat meaningless because the numbers boggle the mind. Soon, tossing millions around is like tossing twenty dollar bills to a person who maybe has only $500,000. Knowing you can have just about anything you desire is probably a nice sense of security.
Is there such a thing as having too much money? California does not think so!