Letters to the editor on jet tax break, debt ceiling, Congress, July 4 celebration
Tax favoritism is bad economics
Contrary to The Eagle editorial board's perception, avoiding special tax breaks is a fundamental principle of classical economics ("Stop the jet bashing," July 10 Eagle editorial). As Adam Smith argued in 1776, taxes should be as low as possible. As he pointed out clearly, this is only possible when there are no tax "favorites," no sectors whose tax calculation is different from the others.
Each suite of tax breaks — corporate aircraft, energy, agribusiness and others — increases the taxes for all other businesses. Loopholes, and the lawmakers who enact them, are bad for the economy as a whole.
Represented in the Wichita economy are many business sectors whose taxes are artificially raised by the existing tax preferences. Tax reform by closing special breaks is not "primitive economics," as a law professor quoted in the editorial contends; it is classical economics and logically sound.
DWIGHT K. OXLEY
Wichita
Destroyed savings
Treasury Secretary Timothy Geithner said that failure to reach a U.S. debt-ceiling agreement would "affect the value of all Americans' savings" ("No deal out of bipartisan deficit meeting," July 11 Eagle). For the record, this is the same Geithner who failed to pay his own income taxes, was head of the New York Federal Reserve Bank when it made the secret deal to bail out AIG (allowing his friends at Goldman Sachs to profit handily from the financial meltdown they helped cause), and has joined hands with Ben Bernanke of the Federal Reserve to devalue the U.S. dollar, drive interest rates to zero and target 2 percent-plus inflation.
Geithner's actions in recent years have systematically destroyed the value of the savings of every American. That, along with increases in the cost of retirement, have wreaked havoc on retirees who are trying to make it on what they saved over their years of hard work.
Geithner is not a public servant but rather a member of the "financial establishment" that consistently has shown that it could not care less about honest Americans who actually try to save.
Geithner knows that the only way to restore any value to our savings is for the U.S. government to pay back its debts now. No more debt-ceiling increases.
BOB LOVE
Wichita
Live within means
The debate about America's debt is much in the news. Despite what we hear in the media, the world is not dependent upon America's credibility. In fact, the world is at risk because of America's size.
Ralph Waldo Emerson would say that the world measures its esteem for Americans by what they have, rather than by what they are. What will prove to be the reason for the decline of the empire is that we have for too long tolerated a succession of governments bent upon putting on a show instead of securing and promoting the country as a benign collection of individuals bent upon their own self-reliance to live and prosper within their means.
Peace and prosperity are only possible through the triumph of principles. If a country cannot live within its means, then that country deserves to perish.
RON A. HOFFMAN
Rose Hill
WWJD on debt?
Rep. Charlie Rangel, D-N.Y., asked "What would Jesus do?" about the debt ceiling. His question has been answered: "Render unto Caesar what belongs to Caesar, and render unto God what belongs to God."
JANE HOLTZEN
Wichita
Congress to blame
Republicans blame the president for the recession and the slow recovery. But who is responsible for approving all of the increased spending, increased subsidies, tax reductions and lack of regulations in recent decades that resulted in the recession? Congress.
I guess this is too obvious to point out to the Republicans, particularly the ones trying to become the GOP presidential nominee. If they are unhappy with the way the country is being run, it's easier to appeal to their simpleminded supporters by blaming the president rather than Congress.
If we are to resolve the recession, federal debt and federal deficit, it will require a better Congress, not a different president.
SAM KNECHT
Wichita
Better celebration
The city of Derby deserves recognition for sponsoring a popular Independence Day parade. It was uplifting to view the cheering crowds while riding in one of the floats. The streets were lined with enthusiastic citizens of all ages. It is likely that the many small children will remember the event and develop a stronger feeling of community.
This contrasts with the roaming groups who celebrate the Fourth by shooting off massive quantities of Chinese-made explosives. They seem unaware of disturbing fellow citizens who seek to sleep. Their distress bogged down the 911 system with complaints.
Beside clogging the atmosphere with noxious gases and gifting us with excess ozone, this costly activity leaves children without a sense of community and with ignorance of the meaning of the federal holiday.
Quite possibly, limiting fireworks to those shot off by governmental entities at Independence Day celebrations could create a greater appreciation of our country's Founding Fathers and what they gave us. Our young citizens very likely would have a greater sense of community and how to give neighbors common courtesy.
RICHARD GILMARTIN
Wichita
This story was originally published July 13, 2011 at 12:00 AM.