Dear Editor:

Roger Wood wrote a letter to the editor laying out “The Tea Party’s Creed.”

Dear Editor:
Roger Wood wrote a letter to the editor laying out “The Tea Party’s Creed.”

He blames “Government regulations” for the mess we’re in. He believes removing regulations from corporations (who work solely for the enrichment of stockholders) will cure our economic troubles, while increasing production. Apparently, he’s against workers rights.

He calls Social Security a “Ponzi scheme” that was destined to fail, even though it served us well for 76 years. American corporations weakened its financial base by eliminating jobs. Also, the government borrowed money from it: that’s a contract and (by law) must be repaid.

America prospered under FDR’s regulation of Wall Street. Then in 1999  a Republican Congress passed a bill that did away with those regulations. Clinton signed it: trouble began.

Wall Street promptly bundled fraudulent and good stocks together and sold them across the globe. Much of the worthless stocks were for houses sold to customers with insufficient finances. Housing value soared until the “Day of Reckoning” arrived. Then the market collapsed and the mess we’re in was born.

He castigates “Obamacare.” He insists insurance will drastically increase in cost.

Insurance cost has increased every year since the 1980s, and each year coverage was reduced by higher co-pay. It’s the uninsureds’ visits to the ER that’s bankrupting us. He’s already blaming those that can’t presently afford insurance for future cost increases. He believes they’re freeloaders, not victims of corporate downsizing.

He doesn’t accept paying taxes as a responsibility. He proclaims it governmental theft.

Tom Davis
Girard