Professor Elam

Thursday March 18 2010

We have put up article after article about the weak to bankrupt conditions of many states and cities. Here is another sign that one of them is at least trying to do something about it. Pennsylvania for only the second time in its history (note this is one of the original 13 colonies) is offering tax amnesty with payment of the tax and half the interest If one does so by a date certain, after that the penalty goes up again. I suppose payment depends on a person or company's perception of just how long they believe they have a future in Pennsylvania. If one has given up hope, perhaps it makes more sense to wait for the final apocalypse. For example, Jimmy Carter finally granted all draft evaders total amnesty. Will states finally do that in some sort of eventual bankruptcy that allows both the citizens and the state to start over?  After all Detroit is bulldozing itself as I write….