Do what thy manhood bids thee do,
From none but self expect applause:
He noblest lives and noblest dies
Who makes and keeps his self-made laws."
~ Sir Richard Francis Burton
Economic Plunder in Recent History
Submitted by Persona non grata on Mon, 2012-12-31 00:00
In the mid 1990s Republican New Jersey Governor Christine Todd Whitman re-directed contributions from the pension fund for state employees to the state general account while giving tax cuts to wealthy state residents. By purposely under-funding the pension plan Ms. Whitman was able to ‘balance’ the state budget while cutting taxes. And through pension accounting loopholes, the move provided the illusion the pension plan was adequately funded as massive deficits accrued.
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