Rhode Island has one of the most “progressive” catalogs of smothering state laws and taxes in the nation.

It ranks 41st in the nation in economic performance in the “Rich States, Poor States” ratings of the American Legislative Exchange Council.

Now the politicians have the brilliant idea of starting a venture capital fund for financing new private sector projects.

Rather than cut the sky-high taxes in Rhode Island, Democratic Governor Dan McKee claims the money will fund “smart, targeted investments that grow our economy.”

What could go wrong?