Margaret Thatcher observed that socialist governments failed when they ran out of other peoples’ money. Maryland came one step closer yesterday when the Supreme Court ruled that the state was unconstitutionally engaging in double taxation of income earned outside of the state.
Rep. Hank Johnson (D-GA) says that if the budget proposed by the Republicans pass, “the have-nots of this country will rise up like the people in Baltimore.” CNSNews has more here.
Rep. Johnson is the congresscritter who was concerned that basing 8,000 Marines (with their families) on Guam could cause the island to tip over.
One of the amenities that attracts well-to-do folks to San Francisco are the small businesses such as Comix Experience, a well-regarded comic book and graphic novel store. Unless it can quickly develop a new revenue stream, the store is headed out of business because it can’t afford to pay its employees San Francisco’s new minimum wage of $12.25 an hour. (It will rise to 15 bucks an hour by 2018.) Ian Tuttle writes about the store owner’s efforts to save his business at NRO.
Hibbs is not inclined to circumvent the market: “Despite being a progressive living in San Francisco, I do believe in capitalism. I’d like to have the market solve this problem.” That applies not just to his plight, but to the question of the minimum wage: “We’re for a living wage, for a minimum wage, in principle. . . . But I think any law that doesn’t look at whether people can pay may not be the best way to go.”
Read the whole thing.
Even in San Francisco, the Laws of Thermodynamics wind up superseding Blue State policy.
That was posted on a large sign at Clinton campaign headquarters in 1992 to keeps the team on message. Given the results of the past eight years of policies not to different from those Hillary Clinton advocates, that sign needs to go up in the headquarters of one or more Republicans during the coming election cycle.
A man who murders another shortens by a few brief years the life of a human being; but he who votes to increase the burden of debts upon the people of the United States assumes a graver responsibility.
—William Jennings Bryant
There are no solutions, only trade-offs.
Socialist governments traditionally do make a financial mess. They always run out of other people’s money. It’s quite a characteristic of them.
A worked example is discussed here.