I periodically mock the crazy statists of California. The state is almost surely doomed to suffer a Greek-style fiscal chaos. The only unknown is whether Illinois will beat the Golden State into default.
But the scam may be coming to an end. Margaret Thatcher famously warned that the problem with socialism is that sooner or later you run out of other people’s money.
Well, that’s happening sooner in California because more and more people are deciding to leave the state.
Yet the moochers and looters than run the state aren’t learning the right lesson. They think that successful people are a pinata that can be endlessly beaten in the search for more revenue.
But there will come a point when they realize that the geese with the golden eggs are flying away. What will they do when reality slaps them in the face?