New economy does not leave much for young, growing Montana families

Letter to the Editor,

We have a new economy. Speculators are buying foreclosed homes and converting them into rental properties. Young families don’t have cash or secure income. Up and down the street, mom-and-pop businesses are going out of business. 

They just don’t have the products and prices that can compete with franchise stores. People blame “capitalist greed.” But, the market rewards the best product at the lowest price. Capital for more-efficient enterprise comes from pension and 401K funds that look for safe,  yet profitable, investments. These funds, in turn, follow the lead of  entrepreneurs and individual investors who identify what businesses have  potential and how much to risk. 

Taxing the rich, in effect, takes capital from these risk-takers who make things happen. Taxing the rich is like  eating the seed corn. It only satisfies gut feelings of outrage. 

This blame is misplaced. Government policies are at the center of our  economic problems. One of the culprits is the EPA whose policies have  raised consumer prices and closed businesses. 

Politicians should trade off  an increase of “revenues” $30 billion with the elimination of the EPA  whose budget is $30 billion. This is not just social and economic justice, it is good science and constitutional governance.  The varying layers of mud and sandstone rock in the Grand Canyon shows that climate changes are an act of nature, that is God. Sen. Max Baucus is on the committee now deciding tax policy.

— Michael McCarthy