Opinion
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Should be up in arms
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Published: May 10, 2009
Apparently the federal government wants to commit yet another act of rape and pillage ("Seniors in for shock on Social Security," May 3).
I find it very disturbing that the retired, the disabled and dependents of workers will be deprived of their COLA (cost-of-living adjustment) for the next two years. The federal government bailed out the bankers; there is not enough spin in this world to justify taking away COLA.
I worked for the Social Security Administration. I retired early in my career, took a cut in my annuity and received no buy-out. My health-insurance premiums are taken out of my annuity every month. Federal and income taxes are also withheld from my annuity.
And I used to receive the same COLA as the Social Security recipients. This year Part B Medicare premiums are being deducted from my annuity.
My federal health-insurance premiums increase every year. So many seniors carry policies to supplement their Medicare coverage; their premiums will likely increase as well. So what if Medicare Part B premiums are capped? Most of us will end up with less income.
AARP should be up in arms. I'm not a member but many, many seniors are.
I will not starve nor go into bankruptcy if my annuity is eroded. However, I'm willing to bet that others less fortunate will have a lot of anxiety in the future.
KATHERINE S. SEAMAN
Pfafftown
Unregulated contracts
Financially cracked is the government that does not allow bankruptcy.
Bankers have always been self-dealing -- big surprise. Look no further than the S&L crisis. Today's government, through lax enforcement, and bankers, through increased leverage and poor judgment, entered into unregulated contracts (both futures and credit default) to turn a faster buck.
Now the government has once again entered into constitutionally suspect legislation that is contrary to the Fifth Amendment of the U.S. Constitution. Private property cannot be taken without just compensation. For politicians to rewrite the rules of engagement for originators, servicers and investors without regard for the Fifth Amendment compounds the errors of inept risk management and absolutely kills investment.
An investor is compensated for risk by the premium any transaction commands. If there is no bankruptcy, and government substitutes its own credit, then we have an inefficient market where no business fails. Fear of failure is a good motivation tool for all management and markets.
I may ride or push my Edsel into the sunset, but I made the call and not the government.
HIL CASSELL
Lewisville
Letter translation
The letter "Not alone in his anger" (May 3) may be confusing to some readers. I'd like to offer a translation of some of its more difficult passages.
When the writer says, "The ‘goobers' toting those guns are often intelligent, well-informed, passionate citizens who give a damn about who is protecting or trampling their freedoms," he's talking about people who watch Fox News six hours a day and are bitter because they now have to share their white privileges with the rest of America.
When he refers to, "an unrepresentative, elitist autocracy to ram its unwanted agenda down our throats," he's talking about the democratically elected president and Congress of the United States.
When he says, "We should be no different in resisting today's tyranny… ", well, you got me. Unless by "tyranny" he means "things I don't like."
A few helpful words to those on the far right who feel this strange sense of displacement: Those of us on the left are familiar with it; we've been there. This is what it feels like to be in the minority. It probably won't be fun. It sure wasn't fun for us when the right was busy lording its majority status over us and using our tax money for causes we opposed, like foreign invasion and teenage-pregnancy orientation -- I mean, abstinence-only sex education.
Eight years ago, the right offered us some straightforward advice to deal with the situation. I now offer it back to them:
You lost. Get over it.
WILLIAM B. PERRY
Winston-Salem
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