California’s budget troubles – say hello to billions in tax revenue from Facebook’s IPO

California is hoping for another Google-effect like the one that happened in 2005, after the company’s IPO. From 2004 to 2005 the revenue from capital gains taxes in California shot up $14 billion. Mark Zuckerberg, whose initial public stock offering in two weeks could value the company at $96 billion, will cut in the state …