To the Editor:
What amuses me is we have a lot of smart people trying to figure out how they can get someone else to pay their bills. It won’t work in the long run.
Obamacare: I want first-class medical coverage and the insurance company is supposed to pay, or you and me.
High real estate taxes: I want to have 25,000 acres under McHenry County Conservation District control (growing weeds) instead of producing crops and paying taxes. They need their own police and maintenance department. All towns have a park district, which is OK, but we can have too many parks.
Pension plan: Pensions are based on an historical 3.5 percent or so return as interest plus next year’s anticipated inflation, making their returns on investments of 7 or 8 percent.
The U.S. government forces interest rates down to one quarter percent or so to save federal taxpayer money, but it is putting everything else out of line.
According to the Wall Street Journal, the Federal Reserve’s holding of government security is up 365 percent since 2006. Inflation of about 1 percent a year is grossly understated. Social Security and other things based on COLA fall short.
Two hundred years ago, more than 90 percent of people lived on farms, producing food, fuel etc. Today, less than 2 percent live on farms.
I think God has a problem with what to do with all the surplus people.
Walter J. Steffens