Investors not concerned with creating jobs
In medieval England, suspected witches were subjected to dunking. Tied hand to foot, the suspect was cast into a river, pond or moat. If she floated, it was seen as proof that she was a witch. If she sank, she was exonerated. Regrettably, she was also dead. This seems absurd today, but was widely believed to be true for several centuries.
As an investor, I am reminded of witches and dunking when I hear about low taxes spurring job creation.
Republican politicians, notably those seeking the grand prize as Republican presidential nominee, argue that jobs will be created only if income taxes on wealthy Americans remain at current low rates.
Never miss a local story.
History confirms the opposite. If jobs are created as a byproduct of personal investing, they're a byproduct but certainly not the underlying intention. You invest hoping that your capital grows, sometimes buying stock and selling it later that same day. You can even make money betting a particular stock will decrease in value. That's the point, isn't it? Personal investment is geared to increasing personal wealth, but has nothing inherently to do with creating jobs. Referring to investors as "job creators" is dishonest political code-talk.
A modicum of honesty, please. If lower taxes for wealthy Americans would somehow result in their altruistic transformation into investors-for-the-common-good it would already have happened. At best, it's a naïve sound bite; at worst, a barefaced lie with no more basis in fact than the belief that only witches float in water.
More to civil rights vote
A recent letter to the editor regarding the Civil Rights Act of 1964 reminded us that there were 18 Democrats and only one Republican determined to filibuster in an effort to stop this bill. While the numbers are accurate, there is much more to be considered.
It is interesting to note that Democrats from northern states voted overwhelmingly for the bill, 141 to 4, while Democrats from southern states voted overwhelmingly against the bill, 92-11. Clearly these conservative Democrats were not the base of the party.
The House of Representatives debated the bill for nine days, trying to weaken the bill before passing. Of the 420 members who voted, 290 supported the bill and 130 opposed it. Republicans favored the bill 138-34; Democrats supported it 152-9.
In the Senate, the opposition was known as the "southern bloc." Although a hopeless minority of Southern Democrats and Republicans, the group relied on the filibuster to postpone the legislation as long as possible, hoping that support for civil rights legislation throughout the country would falter. The Democratic leadership could not control the southern wing of the party. In spite of that effort the Senate passed the bill by a 73-27 roll call vote. Six Republicans and 21 Democrats held firm and voted against passage.
President Lyndon B. Johnson welcomed the bill that he and President John F. Kennedy had fought for. Within a few hours of passage, he signed it into law. Clearly, we can thank the Democratic leadership for this success.
The Herald-Leader hit the nail on the head with the editorial "Tired of waiting on Congress" (Oct. 16). The Republicans and Senate Minority Leader Mitch McConnell are truly on "autopilot" — an added note for those who occupy Wall Street.
I believe those who occupy Wall Street are frustrated, tired, unemployed and employed people simply fed up with political wrangling and undue hardships placed on American people. The rich only get richer and the poor poorer while the nation gets away from its roots.
Our leaders need prayer, but if they do not heed the signs, America is doomed to failure. We all need jobs and, per NBC News, those over 55 are hurting the most. I can relate to that.
The Republicans and Tea Party advocates need to work together to pass legislation designed to help all Americans instead of stonewalling. Republicans need a wake=up call and McConnell needs to be shipped out of the country where jobs have been sent.
9-9-9 a good plan
Herman Cain's 9-9-9 tax plan achieves some very favorable results. The first is, everyone will pay taxes and will then have an ownership in the American system. It is very easy for a large portion of the population to vote tax increases now, because it costs them nothing.
Ownership will place some responsibility on the taxpayer's head and should greatly reduce this giveaway society we have now. It could also force those unproductive people to get jobs instead of begging for a living.
The sales tax is a tax you can control by not spending and you can use it to reduce your overall tax burden. This is impossible with the current income tax system. It also places a higher cost on luxury items, so instead of buying a $50,000 car, you could buy a $25,000 car and save $2,250 from your tax burden. It would be easy to collect by simply "piggybacking" it on the current state sales tax systems.
I am seriously considering Cain, because he is the only man with a plan and is a successful businessman, not a professional politician.
Donald R. Fugette
Not just for profit
This letter is in support of National College. I have been a student at their Lexington campus since 2009. My graduation will be in June 2012, with an associates degree in radio/television broadcasting. I will continue for my bachelor's degree in business management graduating June 2014. This is the realization of a 30-year dream to go to college.
Thankfully, teachers who care taught me how to study again, resulting in a 4.0 grade-point average. The knowledge that I have obtained has enabled me to be supportive of the college and beneficial to my fellow students.
Our teachers at every campus are properly certified in their respective programs to continue our success. Attorney General Jack Conway has been effective in identifying any college that has not followed proper rules in the conduct of their business; however, it does not apply to National College
The actual placement rate of students in productive work is outstanding. The actual default rate on student loans by National students is among the lowest in Kentucky, and below the state average.
Conway has cast a wide net in his efforts to identify institutions which do not perform to expectations. National College should not be in that group.
He should use his position to seek out those who do not measure up. At the same time, he's invited to acknowledge the superior performance of National College and come visit sometime.
Donald F. Silvestri
The city of Olive Hill buys its electric power from AEP. Recently, the city electric utility bills reflected an approximately 60 percent fuel adjustment clause.
Upon investigation, it was discovered that the most recent letter (Feb. 18, 2011) filed by AEP with the Public Service Commission reflects a reduction of .0016283 per kilowatt hours to their customers.
This means the people of Olive Hill should be getting a refund on the fuel adjustment instead of an extreme charge of 60 percent.
Something is simply not right in our good little town.