Fiona Ma: Warriors boost economy, tax revenue
Even amid the transcendent joy of the Golden State Warriors' NBA championship win, California's tax officials are keeping their eye on the bottom line.
Fiona MaBoard of Equalization member Fiona Ma, whose district includes the Bay Area, issued a news release Wednesday morning noting that the championship ring comes with a monetary bonus for the players, meaning a modest increase in tax revenues for the state. But on a larger scale, as the series and victory reverberate through the economy -- merchandise sold, extra hours for arena employees, restaurants and bars packed with fans -- there's even more money coming in.
Ma's statement noted that $10 million might seem like a drop in the bucket of the state's world-class economy, but that sum could hire 320 full-time employees at $15 per hour; open 100 small businesses; or buy for school supplies for 103,000 kids.
"The Warriors gave as good as they got throughout the entire season, and they're bringing home a championship trophy," Ma said in the news release. "Even better, they've made winners of us all, and I congratulate them on a stunning season! ... Here's to another win in 2016!"