Treating businesses and affluent people as prey, rather than assets, often pays off politically in the short run — and elections are held in the short run. Killing the goose that lays the golden egg is a viable political strategy.
There’s nothing like watching Detroit unfold right here in Illinois. The uneducated and the unproductive are allowed to vote. They will always outnumber the educated and productive. Politicians like Obama know this very well. Of course, the lessons of Detroit won’t be instructive. Those who will vote with their feet will find greener pastures beyond the confines of Illinois and other states who emulate the same ruinous strategy. Here are some trackbacks on the subject.