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Creating jobs v. creating wealth


Fri, Oct 7th, 2011
Posted in Commentary

Unless you have been living in a cave the past few years, you know that our country has been in the midst of a giant recession. Unemployment hovers around 9.4 percent with 37 million on food stamps, and politicians ranting and raving to have the government immediately pass their respective bills and proclaim them the saviors of the mess they created.

Let's take a look at the topic of taxes first. Our tax system is considered progressive. Progressive means that it takes a larger percentage from the wealthy and a decreasing smaller percentage from the least wealthy. Paul Krugman, Harvard Economist tells us that the top 20 percent of the wealthy taxpayers were responsible for 67.4 percent of the tax receipts in 2004. The bottom 40 percent paid nothing and in many cases those Americans in the lowest quartiles actually received money in the form of tax credits. John Strossel of U.S. News gives us an even greater breakdown of the term wealthy. One per cent of the American population controls 43 percent of our nation's wealth. Two percent of Americans spend 33 percent of our wealth.

Perhaps we need to back up a bit and determine how the top three per cent controls and spends wealth. When a person or business produces goods or provides a service, several components are brought together. Land, natural resources, labor, and technology are brought together through loans and capital provided by the owner. These factors which are brought together are called the factors of production by economists. The owner or entrepreneur (one who takes the risk of business) buys the material, hires the people to do the work, and begins to produce a product. It is at this point wealth is being created by all parties involved. In order to stay in business and be successful, more goods are produced with the intent of selling the product to those people who need it. It is important to understand that wealth is created only when a product is produced to be sold to others. Private enterprise hires people to produce products; government jobs do not produce a product for sale and are considered by economists as unproductive jobs, as no wealth is created. According to Harvard economist Paul Krugman, America has not created wealth since the year 2000.

It seems that the media and politicians are clamoring for jobs, jobs, and more jobs. There is nothing wrong with job creation, but creating jobs is not the problem in our economy. Working in a job is certainly an importan .....
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Campaigns to be flush despite weak economy

Fri, Sep 30th, 2011
Posted in Commentary

Be prepared to be carpet bombed by political ads as never before leading up to the 2012 elections. There are estimates that from $6 to $8 billion will fuel campaigns, with over half of that money funding TV, radio ads, and to a lesser extent, print ..... 
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Lessons from 9/11

Fri, Sep 23rd, 2011
Posted in Commentary

It's been 10 years since 9/11, and we have learned countless lessons since then. Tom Ehrich is a writer, church consultant and Episcopal priest based in New York. He wrote of ten lessons that we should all keep in mind when the naysayers and critics ..... 
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One Moment Please... A lemonade stand

Fri, Sep 23rd, 2011
Posted in Commentary

As the 25th anniversary of our world famous trails approached, I knew this was going to be one of the most significant news events I would cover in 2011. So, I dedicated my weekend to visiting all eight trail towns to capture the essence of how each ..... 
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Government spending

Fri, Sep 16th, 2011
Posted in Commentary

Our founders clearly did not foresee the dangers posed by the creation of hundreds of government bureaucracies. Consequently, they did not include any means that would restrain or eliminate the many governmental functions and programs that are ineff ..... 
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One Moment Please...

Fri, Sep 16th, 2011
Posted in Commentary

Great stories, memories and Scrabble

I remember playing Scrabble at the kitchen table against my great-grandmother, Mabel Leighty, as she seemingly made up words I had never heard of on her way to an unopposed victory. I was 12 at the time, b ..... 
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One Moment Please...

Mon, Sep 12th, 2011
Posted in Commentary

Unless you've been living in a cave for the past 10 years, surely you are aware of the haunting demise of the United States Postal Service.

While it's easy to point fingers at something like the Internet - and trust me, I have - because I th ..... 
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One Moment, Please... Future leaders

Mon, Sep 5th, 2011
Posted in Commentary

In my June 6, 2011, commentary appearing in the Fillmore County Journal, I said, "We have an abundance of stand-out talent coming out of our schools, probably to the extent that we may not realize at times."

As we transition from a summer fu ..... 
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Looking Back While Moving Forward

Mon, Sep 5th, 2011
Posted in Commentary

Standing on the dock, I silently watched the four canoes move across the lake, paddles flashing in the sunlight. The six campers and two guides would be gone for five nights on the water taking a circle route which was not considered difficult for c ..... 
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