Smith & Wesson’s lesson – vote with your feet
Whether one is cheering or booing the impending exit of Smith & Wesson from Massachusetts depends on which side of the gun debate you’re on. Second Amendment advocates view the legislation that sparked the gun maker’s move as an incursion on those rights. Opponents of assault weapons who prompted the bill are likely happy to see such a manufacturer leave the state.
But there is a larger takeaway from this: if you don’t like what’s on the menu, you can go to another restaurant.
Which is precisely what Smith & Wesson did in the face of legislation filed this year that would ban Massachusetts companies from manufacturing weapons and devices covered under the existing military-style assault weapons purchase ban, exempting those to be sold to law enforcement or the military. As Fox News reported, those products accounted for more than 60% of Smith & Wesson’s revenue last year, and the company announced it was moving to Tennessee.
“This has been an extremely difficult and emotional decision for us, but after an exhaustive and thorough analysis, for the continued health and strength of our iconic company, we feel that we have been left with no other alternative,” Smith & Wesson CEO Mark Smith said in a statement.
There will be more Smith & Wessons, not just gun manufacturers, and not just in Massachusetts, but companies and individuals who see the way the legislative winds are blowing and decide to hit the road.
Some won’t have to go to far, as in-person sports betting rolled out Thursday in Connecticut, the same day Senate President Karen Spilka said sports betting legislation in Massachusetts was very much not on the front burner.
Temporary sportsbooks are open at Mohegan Sun and Foxwoods Resort Casino, and mobile and online wagering is about a week away, according to The Day.
Our Legislature will be busy as Bay Staters gas up and head to Foxwoods or Mohegan.
“We have to do redistricting, we have to close out the books and do a supp budget, we need to do a more permanent VOTES act, our temporary (provisions) end in December,” Spilka said.
And as the “free everything” crowd in D.C. rolls up their sleeves to hike taxes, those who have the wherewithal to move to states with more favorable corporate tax rates, or countries, will do so at the first chance.
Those who don’t have such mobility are still not stuck with the Special of the Day.
As the New York Post reported, an internal committee document obtained by the paper found Democrats are juicing up tax hike proposals in order to pay for some of their debt balloon.
These include taxing stock buybacks — one of Sen. Elizabeth Warren’s favorite projects. When a company buys back its stock, it often gooses the stock price as it takes shares out of circulation. The proposal could apply an “excise tax” to companies that buy back a significant amount of stock.
Also on board — imposing a “CEO pay disparity” excise tax on companies whose chief executives make more than a certain percentage of the average worker’s pay. Nothing like the government telling companies how much its officers should earn.
The inanities of the spending spree and the generous servings of pork have been well publicized — as have the displeasure of many voters.
It will be interesting to see what’s on the menu after the midterms.