The Money Still Isn’t There

The Illinois Supreme Court struck down the state’s 2013 pension overhaul, unraveling an effort by lawmakers to rein in benefits for the consistently underfunded public-sector system.

The current pension shortfall is estimated at $111 billion, one of the largest nationally.

So now the citizens of Illinois must act. It is, after all, their Constitution, not the judges’. Assume that the judges of Illinois’ Supreme Court aren’t partisan hacks (they’re politician-lawyers who are elected to 10-year terms by the citizens of Illinois) and have correctly interpreted the state’s Constitution: they ruled correctly, ruling in accordance with the text of the state’s constitution.

Get to work, folks. Nobody else is going to bail you out, nobody else has an obligation to bear the expense of your own foolishness in repeatedly selecting politicians to represent you in Springfield like those who got you into this mess.

How Crass

Hillary Clinton has figured out a way to monetize Mother’s Day—inviting supporters to enter a contest where she’ll ring up Mom just in case you forget to send flowers.
…
Entering is free, but those who sign up get directed to a page where they get the chance to “increase your odds” by giving cash to Clinton’s presidential campaign. Contribution amounts are listed at amounts ranging from $5 to $2,700.

There is no second prize listed….

Of course there’s a second prize: a campaign seasonful of duns from Clinton for more money.

Amazing

In the latest Wall Street Journal/NBC News poll, a question of should be the top three concerns for the Federal government was asked. Those identifying as Democrats list climate change as one of their top three.

That would be laughable if it weren’t so sad. King Canute couldn’t stop the tides. Do Democrats really think they can stop the sun?

EU, Taxes, and Competition

European Union regulators delayed decisions on whether four multinational companies including Apple Inc and Amazon.com Inc may have benefited from illegal tax sweeteners, citing difficulties in obtaining information to make their case.

The difficulty isn’t just from the companies: the nations involved also are reluctant to give up the data.

There’s this, too:

At a time of austerity in many countries, governments across the continent are seeking to shore up their finances and demonstrate to taxpayers that wealthy multinationals are paying their fair share of tax.

And

Brussels cannot impose tax policy on the bloc’s 28 governments, but regulators are using an EU-wide ban on selective state aid to companies to crack down on individual tax deals that they deem to have given an unfair advantage to certain enterprises.

And

The aim of the investigations, Ms [EU’s European Commissioner for Competition Margrethe] Vestager added, is to set a precedent that would “inspire” national governments to change legislation to ensure their tax systems are in line with EU rules. That has already happened in Ireland, where the government has announced it would phase out the controversial double-Irish tax loophole, she said.

Of course, all of this would go by the boards if the EU and its member nations could understand their governments don’t need the money; they need to reduce their government spending. The money in the nations’ citizens’ hands would be far more efficiently used—and provide the competition Vestager’s office claims to want.

Even accepting the fiction that each nation’s tax code should look like every other nation’s tax code, because all the nations are carbon copies of each other.  After all, suppressing competition among the nations is a core task of Vestager’s office.