PA in the news yet again:
While Democrat Gavin Newsom and Republican John Cox campaign on their visions for the state’s next chapter, it’s the financial success of residents in Palo Alto’s 94301 and a handful of other affluent ZIP Codes that will determine whether promises to build more houses, overhaul healthcare or invest in schools can actually be kept.
The state scooped up just under $1 billion from nearly 9,000 tax returns filed in 94301 in 2016 — more revenue than from any other ZIP Code in California.
“We are very dependent on millionaires,” said Mike Genest, former budget director for Gov. Arnold Schwarzenegger. “If the millionaires get a cold, we all die of the flu.”
California ZIP Codes that paid the most in income tax in 2016
|Rank||ZIP Code||City||Personal income tax|
|1||94301||Palo Alto||$934 million|