Wednesday, November 30, 2005

Modern Day Looters

Christopher Chantrill reports on an important modern day happening:
What happens when it comes time to pay the unfunded pensions of all those government workers as guaranteed in their state constitutions? Don’t expect to find many state judges to believe in “living constitutions” when their pensions are at stake.

It’s odd isn’t it? In the bad old days of the patriarchy the looters were young men like the buccaneers who cruised the Caribbean for Spanish gold. In the future it will be little old retired nurses and teachers demanding their booty from the tax-enslaved American people.
There's nothing like rent-seeking on a giant scale to make big money.