Google's April surprise for California

The San Francisco Chronicle reports:

nternet giant Google's stock has soared since it went public almost two years ago -- and that has created a windfall for state government coffers.

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.

The fact that a single high-flying Silicon Valley company is giving such a big boost to the state treasury can be determined by examining insider stock trading information filed with the Securities and Exchange Commission.

Those who want progressive income taxes become hostage to this sort of situation.