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Opinion Letters Letter to the editor for October 8, 2008
Letter to the editor for October 8, 2008
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Let’s try trickle up economics To the editor: Isn’t it nice that Congress has fallen for Bush’s economic plan to bail out the fat cats and blood suckers on Wall Street. While it is a good thing that the county road department will be kept afloat, they may find themselves with less work to do as driving continues to become more expensive for the citizens. Apparently we have not learned much from Reagan’s failed experiment in trickle down economics. Here’s another idea. Let’s try trickle UP economics. Take the bulk of that $700 billion — that’s seven dollar bills with 11 zeroes trailing — and apply it to outstanding mortgages on primary residences, starting with lower value properties and working up. People put their tax rebates, aka the stimulus, right back into circulation, so imagine what they could do with an extra thousand or two to spend each month. A viable economy is not kept going by amassing money. It requires the circulation of money, whether by spending or investing. I won’t hold my breath in anticipation.
Buck Pilkenton
Sumpter |
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