I'm pretty sure that the feds can afford to bail out California. I'm pretty sure they can't afford to bail out fifty states who have learned that if they are just intransigent enough about spending more money than they make, Uncle Sugar will come in and pay the bill.Let's take Megan's point (about the feds not being about to bailout all fifty states) to the next level. I want Missouri to pass a law suspending all state taxes if California is bailed out with the promise to restart collections when the feds bailout the 24th state. Let's do it across the country. No sales taxes, no property taxes, no state income taxes, no licensing fees, no tolls, no state revenue collection of any kind. It's time for the Show Me state to tell the feds to Show Me the Money!
Friday, June 12, 2009
Megan McArdle asks Can We Really Bail Out California? (emphasis in original):
Posted by dsm at 8:43 PM