SCOTUS upholds for-profit property seizure in Kelo v. New London

This just in: the SCOTUS has upheld the right of local governments to seize private property, even centuries-old ancestral homes, and turn it over to private developers, using the justification that the city would make more tax revenue from sales taxes and the jobs created by whatever the H-E-double-hockey-sticks the developer would build there than they make in property taxes from the homeowners. Sheesh. So much for the much-vaunted principle inherent in the Declaration of Independence and the Constitution that the ownership and protection of private property is essential for personal liberty and freedom.

The linked blog post is a great starting point, but stay tuned for more analysis as the usual pundits (Volokh.com, Claremont Institute, etc.) get spooled up today.