Monday, August 06, 2012

CA Going BK

What will California do when it runs out of victims to loot?  I fear it will get federal transfer payments and thereby effectively loot the responsible states.  Hopefully the other states will stand up to this and prevent any bailout, but there's not much precedent for anti-bailout victories.  In any case, I enjoyed Bill Whittle's video on CA going out of business, though I disagree with cities or states giving money to businesses to relocate (though I see nothing wrong with tax moratoriums).

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