Where Prop. 103 Mentality Could Lead

The Times reported that 20th Century’s stock plummeted on the news that its constitutional challenge to Proposition 103 was rejected (“20th Century Industries Shares Fall Nearly 25%,” Aug. 20). Ralph Nader lauded the ruling as proving the constitutionality of Proposition 103. Actually, what happened is that the court legalized theft.

Any money that a business earns through free voluntary exchanges with individuals may now be taken by force through a vote of the people. The logical consequence of this decision is that anyone’s money may be seized if that be the whim of the people. In essence, nobody’s claim to property is valid. Jews in pre-World War II Germany would understand this situation well. “Life, liberty and the pursuit of happiness” is no longer the presumption in the United States.

Aside from overpaid insurance companies, what about overpaid baseball players? Or overpaid actors or physicians? Why should they have more than we?

Let’s introduce a sweeping new Proposition 103 and level the entire playing field so no one has any wealth at all. Of course, there would be little incentive for anyone to achieve or to produce anything, and that might further erode our standard of living, but at least we would all be impoverished equally. That would be real democracy.

BILL MIRKEN

Nipomo