Governor Paterson Gets It-And So Does Shelly Silver

Daily Politics posts on the guv's response to the WFP's "tax the Wall Street bonus," chorus-and he nails it: "Paterson quickly dismissed a plan floated by the Working Families Party to tax for two years Wall Street bonuses up to 50% in order to raise needed revenue for the cash-strapped state...“I don’t even know what the Working Families Party, who I’m sure is trying to find some good solutions, is thinking about because we are suffering because some of the changes that Wall Street has made.”

Paterson goes on to underscore the point that we made yesterday: "If you want Wall Street to become a street in New Jersey or Greenwich, Connecticut, that’s the fastest way to get those companies to move.” And jumping right in with the governor was Speaker Silver who told the NY Daily News: "In Iowa they treat corn as the home product. In New York we treat financial services as our home product," Silver said. "I would just say to you that we do not want to endanger our home product."

But that hasn't stopped the social democrat elite from wanting to siphon off more private equity-reminding us of Margaret Thatcher's observation that, "The problem with socialism is that eventually you run out of other people's money [to spend]." We are gradually-and not so gradually-headed in that direction; and the state of California is our handwriting on the wall.