Taxation Departments are not my favorite people. But this morning I want to commend the State of California Franchise Tax Board for revoking the non-profit status of Blue Shield of California. This company has "jacked up" premiums through the roof and accumulated over $4 billion in cash reserves. Now Blue Shield will face a massive tax bill (California needs the money!) There will also be pressure to return billions of dollars to the policy holders who were robbed of their hard-earned money. What's that old saying: "It couldn't have happened to a nicer guy!"
Life takes us in many strange directions and wonderful discoveries. It never turns out the way we thought it would.
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