Remember what happened to the physicians legal compensation fund in Wisconsin under Democrat Governor Jim Doyle? With the aid of the then-Democrat controlled legislature, it was looted. That was determined to be unconstitutional, retrospectively, and one of the first things Governor Walker did as a part of his budget reform was to reinstate the fund that the doctors had paid into all those years as a cost of doing business in Wisconsin. Obviously, there’s nothing unusual about this kind of legislative rip-off:
Pillaged. Turned upside down and shook out.
State and federal treasuries are nothing but corncribs full of rats, divvying up the proceeds of your work to their friends, and they despise you for it.
The State of Connecticut has this thing called an Underground Storage Tank fund**, which is meant to insure for environmental remediation claims for Connecticut gas stations, in the case of spills.
EPA no longer will recognize the fund’s ability to guarantee cleanups, and Connecticut’s gas stations must find other means to insure against spills, a costly proposition.
“Private insurance is available,” said Chris Herb, vice president for the Independent Connecticut Petroleum Association. “But it is expensive, and not every gas station can get it.”
Meaning, about a third of our gas stations- mostly the Mom n’ Pops- will be unable to pay and will close.
Currently, there are $17 million in approved claims against the fund, and another $81 million in pending claims. That adds up to a responsibility to provide $98 million in environmental remediation work.
The Underground Storage Tank Fund currently possesses $250,000.00.
Because, you see, it has been looted.
Go read the rest by Laura W. at Ace’s to find out where the money really goes.
In a lot of states, legalized gambling was supposed to produce money for the schools, but they’ve found other ways to spend it. ObamaCare, famously, loots Social Security to achieve its ends despite all of Obama’s campaign promises back in 2008 to the contrary. Such funds are fungible, but nowhere near as fungible as campaign promises.
- Excited
- Angry
- Not as Angry
- Bored
- Indifferent
- Sad
Wait until you find out what the Feds have planned for your 401k.
However, unlike the States, it won’t be “looting”, because they will give you Treasury Bonds to make up for it.