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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: 3bar who wrote (304)	12/19/2013 10:09:41 AM
From: Kirk ©	Respond to of 26528

Thanks Facebook plans to sell 70 million additional shares of stock -- nearly 60% of which will be sold by founder Mark Zuckerberg That should generate about $283M in CA income taxes, right? The company, in a Securities and Exchange Commission filing Thursday, said it will sell 27 million shares. And Zuckerberg will exercise an option to purchase 60 million shares and then sell 41.4 million shares to pay the taxes on that transaction. Other existing shareholders will sell the remaining 1.6 million shares. .... Zuckerberg currently holds 425 million class B shares, which give him a majority of voting rights. The shares he is selling will be converted to Class A shares to reduce their voting rights. California Tax Rates for 2012 and 2013 Post Proposition 30 Incredible.... I believe the Federal government will take another 20% plus the extra for Obamacare less a deduction for the CA taxes paid (nice the rest of the country subsidizes CA taxpayers by allowing our super rich to deduct taxes.) Top US Tax Rates by Year - Ordinary, Capital Gains & Dividend At the same time, people are picketing the bus stops in San Francisco where the Google, Facebook and Apple busses pick up their employees who wish to live in the city as their wealth is making rents soar and the poor are getting evicted.... MASSIVE wealth creation. I'm trying to not be political with this and just state how some of it funds government far, far more than most of us combined pay in taxes. "Giving money and power to the government is like giving whiskey and car keys to teenage boys." -P.J. O'Rourke