• The Silicon Valley hometown of Mark Zuckerberg and Tim Cook is relying on millionaires to keep the economy booming - and it signals a huge problem

    8 monthes ago - By Business Insider

    Palo Alto , California, is the proverbial capital of Silicon Valley.
    Its 94301 zip code is home to tech billionaires Mark Zuckerberg , Tim Cook , Larry Page and many millionaire and billionaire executives.
    Palo Alto's affluence runs deep - residents of its two zip codes paid a total of more than $1.5 billion in personal income tax to the state of California in 2016.
    A recent story by the Los Angeles Times cites experts who are wary of California's reliance on wealthy taxpayers: "If the millionaires get a cold, we all die of the flu."
    In Palo Alto, California, a 67,000-person town in the...
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