To the editor: Economics professor Aine Seitz McCarthy says People should retake Econ 101. Studying her piece, I believe she should take it herself.
Increasing the cash provide causes inflation. What else would one anticipate from the succession of main spending payments that got here from this administration and elevated the nationwide debt to greater than $36 trillion?
McCarthy proposes authorities spending will increase on social welfare packages. So the place does the cash come from? Both you tax for it or borrow it. Curiosity funds on the nationwide debt now whole greater than $1 trillion yearly.
On the fee our debt is rising, packages should be minimize or taxes raised, and never simply on the wealthy. Taking cash out of the economic system on this method will result in lowered financial exercise and a decrease way of life for everybody.
Ronald A. Rosien, Los Angeles
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To the editor: The voting majority of the US would have really benefited from understanding the financial ideas described by McCarthy if it cared about information and reality.
Voters confirmed, nevertheless, they’d reasonably be emotionally cajoled by a circus barker presidential candidate than shifting ahead with a authorities that cares concerning the setting, the Structure, schooling and reasonably priced residing circumstances.
They’d’ve failed Econ 101 as a result of they had been too busy looking the window on the clown juggler outdoors falsely promising extra enjoyable stuff.
Linda Bradshaw Carpenter, Los Angeles
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To the editor: McCarthy appears to be lecturing the general public whereas under no circumstances understanding folks’s lived, on a regular basis experiences with skyrocketing prices.
This professor goes on and on about tax credit, subsidies, cash provide and varied different points. She writes as if she has by no means set foot in a Goal or a grocery retailer and seen costs soar sky excessive for the reason that pandemic. Even these of us who are usually not struggling economically discover it.
Vice President Kamala Harris talked about company greed loads in her stump speeches. Despite the fact that President-elect Donald Trump didn’t, his plainspoken acknowledgment of individuals’s frustrations with costs appealed to voters greater than the Democrats’ extra nuanced however barely out-of-touch rhetoric.
I voted for Harris and was inspired that she talked about company greed fairly a bit on the marketing campaign path. However that message has not been adopted by many others sadly, together with McCarthy. It’s such a obvious oversight.
Jennifer Swoboda, Lengthy Seaside
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To the editor: McCarthy’s concept of instructing Econ 101 wouldn’t put together college students for the office.
A nationwide research earlier this 12 months by the Milwaukee monetary companies firm Northwestern Mutual revealed that 45% of adults thought of themselves “disciplined” monetary planners, down from 65% in 2020. I’ve met millennials who’ve by no means heard of compound curiosity.
In 2004, then-Gov. Arnold Schwarzenegger rejected a invoice requiring monetary planning to be taught earlier than highschool commencement as a result of he felt college students acquired enough monetary coaching in an economics course.
Studying supply-and-demand dynamics in an economics course gained’t educate college students the next: methods to make a finances, the significance of saving early, lease-buy evaluation, methods to analyze an organization for funding functions and what sort of retirement account to start out.
David Bach, Sacramento
The author is a monetary literacy marketing consultant.
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To the editor: I loved McCarthy’s op-ed piece. I’m retired and have a grasp’s in finance from UCLA. Nonetheless, her erudite rationale did include some phrases and phrases I wasn’t conversant in.
Equally necessary to “what” we’d like to speak are “how” we talk and “the place” we talk. I consider that in these occasions, younger voters want direct, easy ideas delivered by way of social media from compelling sources.
Classroom schooling is a superb factor, however many citizens nonetheless have to be reminded by sources they belief that voting for candidates with precise insurance policies that greatest serve their pursuits is crucial to getting what they want from society.
Sadly, overcoming hype and damaging messaging is an artwork that our accountable media and progressive voices haven’t even begun to grasp, as demonstrated by the election outcomes.
Philip Solomita, Palos Verdes Estates
