California was counting on Facebook tax revenue
Now this is dumb...
California was counting on Facebook tax revenue to make up for an expected shortfall due to other businesses leaving the state to avoid higher taxes. The state heavily relies on its corporate and personal income tax system to fund its budget. State tax collections fell by $6.1 billion, or down 11%, versus the same period in 2011.
Read more: http://www.foxbusiness.com/investing...#ixzz23faA7ISL
They set up their budget based on an internet stock????