Business Letters
Re: Michael Hiltzik’s business column, “Keynesian remedies to free-market weak spots,” Nov. 23:
Keynesian “tax and spend” economics has never worked and never will. That is why the federal stimulus has failed miserably to jump-start the economy, and why the nations with the highest government spending as a percentage of GDP all have stagnant economies with systemic high unemployment.
We need to incentivize private investment by avoiding stifling new regulations and by keeping capital gains tax rates low.
Heavy government regulation will only cause our economy to emulate the permanently moribund economies of countries such as France and Japan.
Peter Rich
Los Angeles
Blame pay phone deregulation
Re: David Lazarus’ consumer column “Stiff fee for call on pay phone,” Nov. 22:
One only needs to get as far as the following quote about pay phones: “They were deregulated in 1996.” I remember those heady days of the 1990s when we were told (as with electricity) that we would all benefit from the deregulation of pay phones. The so-called free market at work would make it so much better. Within months, literally, fly-by-night companies replaced PacBell phones, prices went up, service went down and every one of them became defaced and disgusting.
Mike Vella
San Diego
California’s TV rules go too far
Re: “State mandates power-saving TVs,” Nov. 19:
I find this funny. So they want us to not buy these TVs. People will buy out of state and there goes the tax revenue. Most people shy away from energy-efficiency items.
This reminds me of what happened to the smoking taxes. They start to raise all of the cigarette taxes and spend that money, at the same time telling people to stop smoking. Then people stop smoking and they still expect the money to come in. On most bills they add 10 taxes and that is why I disconnected my home phone. I was paying $30 for the phone and $9 for taxes.
John Arnott
Long Beach
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Stop it! We do not need to be rescued by government. We already have too many rules, laws and edicts. The entire focus in this state should be how to rescue our economy and not interfere with commerce. What difference are these energy regulations for new televisions if we are all in a bread line because the state is bankrupt and so are we. This fluff can wait.
Dale Laskey
San Pedro
Try credit unions for better rates
Re: “How savers can get an edge,” Nov. 21:
In your article, why do you not mention the variety of savings accounts available at credit unions? Credit unions are paying up to 5% APR on share savings, depending on maturity term of the share and the particular credit union, and here in New Mexico the state employees’ credit union is paying 5.25% on primary checking balances!
We’ve moved all our corporate banking and our personal accounts to a credit union, and we’re glad not to be a part of America’s failing big-bank system.
Bruce Albertine
Albuquerque
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