Gresham’s Law II: THE REVENGE.

The first line says it all:

“Small businesses that received $682 million in IOUs from the state say California expects them to pay taxes on the worthless scraps of paper, but refuses to accept its own IOUs to pay debts or taxes.”

So a bunch of them are suing the state government.  The lead plaintiff in this one is a shirt manufacturer who got paid scrip for a product she provided… which she can’t use to pay the taxes on the sale. Which is interesting, because something like this happened to me in a dream, once.  And then the burning llama in an asbestos night-shirt surfaced from the pool of liquid nitrogen and told me that I had been chosen to lead the forces of Goodness against Kenny G*.

In other words, put me down for finding this ‘breathtakingly stupid,’ too.

Moe Lane

*No, I don’t have anything in particular against Kenny GSomebody has to do it, and at least he doesn’t destroy hotel rooms while on tour.

Crossposted to RedState.


  • Skip says:

    I still wonder how California could do this in the first place – it seems explicitly prohibited by the Constitution.

    Art I sec 10 says:

    No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

    But maybe there’s something I’m missing.

  • BigGator5 says:

    Wait a minute, I had that same dream! Except it was a moose, who had once bit my sister…

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