Bad Habits: Kick That Car Lease Out.

When your on your way to straighten out your finances one of the hardest things to do is get of the car lease habit. Getting that new car every 3 years is quite tempting. You fool yourself by saying you deserve it. You remember when you had that old jalopy and how often it broke down. You need a reliable car and your going to pay for it. 

You know the right thing to do would be to purchase a good used car and pay for it in cash. You must prepare for this purchase by saving money. If you have $5000 dollars you can get a good used car. That lease car is costing you a payment of $500 a month, so save that much for 10 months and get yourself a car. Remember after the 10 months you'll have that $500 monthly payment to keep in your pocket. You can use it to save for a more expensive car or put it toward your emergency fund. 

You have to stop thinking the car purchase as a $500 payment. You believe, no problem, you can swing that. Think of it as what that will be in five years if you save it. We're talking $30,000 after 5 years. After another 5 years you will have $77,600 at 5% interest. I think I'd rather have the money. Most of us made our first car payment as teenagers. We got on that car loan merry-go-round and never got off. The best ways to lower your transportation costs is get that used car and drive it for many, many years. It's not easy to leave that new car smell. But if you want to have some money when your old, you have too.

Halloween Weekend Blog Roundup

Image by Brandy Shaul via Flickr

Welcome to my first Halloween Weekend Blog Roundup. Here's a list of some of the best articles on the web this week.

•  Avoiding Financial Disaster - New Work, No Debt from Canadian Finance Blog.
•  Eight Win-Win Tips For Boomerang Kids and Their Parents from Personal Finance By The Book.
• Are Your Values Money-Makers Or Money-Losers from Barbara Friedberg Personal Finance. Don' t forget to check out her new book "20 Minute Guide To Investing".
•  How To Read Your Investment Statement from Do Not Wait
•  Does It Matter Who Is The Main Provider Between Husband and Wife? from Squirrelers
•  Book Review: Economics In One Lesson from Invest It Wisely
• My Experience With Unemployment from The Biz Of Life
•  DINKS Choice: Dividend Mutual Funds From Dinks Finance

Here are some ways to save a little money.

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•  Last-Minute DIY Halloween Costumes from WiseBread
•  Energy Savings With LED Light Bulbs ( and a Giveaway!) from Bargaineering
•  How To Reduce The Expense Of Gasoline from Moneyning
•  How To Find A Low-Priced Plumber That Won't Rip You Off from Len Penzo

Enjoy and Happy Halloween.

Why Read Books?

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We read in school. Fiction and nonfiction. When I was in school we read all the time. We need to always be learning. Wealthy people read one non-fiction book every month. According to the book "The Millionaire Next Door" by Thomas Stanley. But, why read books now that your an adult. 
 
I had to seek out someone more knowledgeable than myself to see the academic or philosophical reason. I found a man named Harold Bloom. Harold Bloom is an 80 year old American writer and literary critic, currently Sterling Professor of the Humanities at Yale University. He's had a lifelong study and love for books. He's written and taught about literature his whole life. And just so happened to write a book called "How To Read And Why". So he was the perfect source to answer my question. 
 
I found in Bloom's book an in depth discussion, I am noting what I think our the most important items. 
 

Reading helps people form their own judgements and opinions

You read for your own self interest.

Reading is to prepare ourselves for change

We must read as the as Bible student searches for the truth.

We read not to refute, believe, or take for granted but to weigh and consider.

We read to let the book find us.

We read to strengthen self and learn your authentic interests.

We read not to improve our neighbor but ourselves.

We read for a mind greater than our own. 

 
There are many good reasons to read. His favorite author, Shakespeare, holds an abundance of examples of reasons to read. His reason to read books can be summarized with Shakespeare's works, "Shakespeare is waiting to speak to you." 
 
Bloom's book has given me something new to think about. But isn't that what he's trying to tell us. That reading opens new doors in our mind that we didn't know we had. Reading takes your point of view and let's you see things through a different lens. It's like when your traveling in a plane or pictures of the Earth from space. What a completely different point of view you have. What completely new thoughts enter your head. That's what reading can do for you. Now go read something. 

Do You Have Financial Etiquette?

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Many years ago when I was a young lad my parents would take me and my siblings out to dinner. When the check came I would ask how much the bill was. Dad proceeded to hand me the check and told me to pay. He explained to me how talking about money was not done when it wasn't your business. It was a lesson we were all taught that there was a privacy issue when talking about others finances. It's a facet of American culture that you don't ask what someone earns, their religious views or how they vote. 
 
What happens when someone crosses these cultural boundaries it throws you off and I don't know how to respond - usually I say the wrong thing. What I did was go to the source for expert advice on etiquette. I went to Mary Mitchell. She is an author of many books and president of The Mitchell Organization, she's made a career out of coaching people in relational situations. 
 
You probably can't get out of talking about money with a spouse or a parent who's participating in your finances, you can with a friend or acquaintance who crosses the line and asks you something better left private. Mitchell suggests saying " it's raining outside". This is the same tone of voice you should use when responding to someone who asks an inappropriate financial question. No emotion, no judgement. If someone gets aggressive, you can smile and say,"Why would you ask a question like that?" or "If you will forgive me for not answering that question, I will forgive you for asking it. " 

 
Here's a list of the top ten uncomfortable money situations: 
 
1. Your friends make more money than you, and they treat you like a charity case. 
 
2. Someone asks how much your spouse makes. 
 
3. A friend borrowed money from you and they haven't paid it back or even mentioned it. 
 
4. You go out with a group of people and order a salad and water, everyone else orders wine and lots of appetizers. At the end someone says let's split the check. 
 
5. Someone asks how much an item of clothing costs, like shoes or a purse. 
 
6. A good friend is having hard financial times. How do you approach them and offer to pay for them. 
 
7. You're with an old friend and their credit card gets declined. 
 
8. An acquaintance criticizes your spending habits. 

 
9. A friend or family member always thinks your going to pay for them. 
 
10. Someone asks how much debt you have. 
 
In all these situations it's always best to approach your answer with a calm tone and politeness. When your responding to the comment or situation is the the time when you, or both of you will feel awkward. Remember these people are not trying to be unkind. They are just overstepping in a social situation. Try to respond calmly and then change the subject. Saving embarrassment for both you and your friend. 

Are You Afraid Of Starting Your Own Business?

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Starting a new business can feel like jumping off a cliff. No amount of job skill, education, supporting friends or degrees can stop this fear. Fear is that doubt, that little voice in your head that questions every decision and goal. I don't know where it came from, but I know I've had it. 



 
Now let's get our hands dirty and tackle the most debilitating fears: 
 
I don't have the proper skills. This fear surfaces because when your first start your business, your on your own. You have to do a lot more than you ever did before. Now you have to promote, do the bookkeeping, network, and still do the work. Your unsure more than ever because it's all on your shoulder now. You have to realize you can't do it all, your going to have to get some help. 
 
Don't have the self confidence. This is a fear of the unknown. Once you have some successes this fear will go away. You have to keep plugging till your self confidence builds up. 
 
Don't have any ideas. You may not need them. Your business may just need you to find out what your customers need. You don't need to reinvent the wheel, just how to make it a little better. 
 
Don't have the money. Here, maybe you should be afraid. But you shouldn't because if you start small enough, bit by bit your customers will increase and you will grow. Don't borrow and bet the farm on your business. Take it slow and pay as you go. 
 
Can't Handle failure. Who can? Sure it's disappointing to not succeed, but you have to keep trying. When your idea fails there will always be another one to try. Failure is just helps you focus better, it steers you a little more accurately to the prize. 
 
Don't know the right process. Sometimes we can't know everything. Others have gone before you, you need to ask for help. I sought out people who have been doing what I have been doing way before I started to do it. Some business people who have retired are a wealth of knowledge and would be happy to talk to a new business owner and share their wisdom 
 
Don't have the time. If you want to have your own business your going to have to make the time. Having a business is not a 40 hour work week. It could be 12 hour days seven days a week. If you can't make that kind of commitment, stay at your job. 
 
Being out there alone. You don't have to let it be like that. You can reach out to like minded people. There are associations, clubs and places where you can find people in your business. You'll meet people that's on the same path as you are. You need to find these outlets so you don't feel isolated. 
 
Let's face it, to succeed you'll have to go through a lot. It's not going to be easy. Your going to have many failures and many successes. You'll have stresses and exhilaration's. It's part of life's journey. Like a roller coaster, you can only get hurt if you jump off. Enjoy the ride. 

Can Your Kids Have Roth IRAs?

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With the past summer and the holiday season coming up many kids our working and earning money. Is it possible for them to put their money in Roth IRAs? 
 
The only requirement to have a Roth IRA is earned income for the year. Age doesn't enter into it. So if your kid earns money, they are entitled to make a Roth IRA contribution. For the year 2010 the rule is the contribution can be the total amount of income or up to $5000. This contribution amount is for a Roth or traditional IRA. 
 
Is the Roth IRA better than the traditional IRA? 
 
One way it is better than a traditional IRA is that you can withdraw all or part of it without any income tax or penalty to pay for college or any other reason. But rule is you cannot withdraw the earnings tax free till age 59 1/2. 
 
Even though contributions can be withdrawn anytime without tax or penalty consequences it's best to leave it in the account to grow tax free till retirement. If it's in a traditional IRA, all distributions will be taxed and there is a 10% penalty, unless their money is used for college costs. 
 
What about tax deductions? 
 
If your contributing to a Roth IRA there are no tax deductions. If your contributing to a traditional IRA the tax deductions are negligible to none. It would make sense only if your child makes a significant amount of money. 
 
Teaching our children to save is one of the greatest gifts we can give them. Also instructing them to invest in a Roth IRA is a great way to teach them to save. And with the tax advantage it's even better. Your is never to young to learn about the ways to save and minimize taxes or avoid them. 

When Is It To Late To Prepare For Retirement?

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For you procrastinators, this question is for you. For those who have been working hard and long to prepare for those later years. Good work. I wish I was you! 
 
The statistics show most of us have little or no retirement savings. Most of us don't even have any savings. Most of us would be in real trouble if we even missed one paycheck. 
 
But midlife arrives and reality sets in. It's interesting that you spend your whole life not worried about retirement then all of a sudden you hit 50 and it hits you like a ton of bricks. All along you know you should be saving but it all takes a back seat to vacations, life and lifestyle choices. 
 
Maybe it's just me but the traditional retirement model of working to 65, then living off your retirement savings has a few flaws. Even the folks who did prepare are postponing retirement because of massive losses in retirement accounts. Also factor the historical low interest environment on investments and you will see I am not the only one in a pickle. 
 
So where does that leave us. Two things we need to do are save more and earn more. In your 50's your still young enough to start a new business or new career. Your healthy enough to do the work and wise enough to not make too many mistakes. 
 
Face it people this is the new retirement. For me, I'm self-employed in the construction business. We have a nice amount of rental property that generates a good income. With social security, retirement accounts and rental property I'll be OK. I have the rental property work to keep me very busy for the rest of my life. I'm lucky. 
 
For those of you that don't have a plan let's sort things out. Your job is only going to last just for so long. Your going to have to replace it with another eventually so let's get to looking for it. Maybe you'll be able to start a business that is related to what your doing now. You need to get out there and start knocking on doors. There has to be a way to take a seed from what your doing now and plant it in another way. An interest or hobby you do now that could be notched up to make some money. This is not going to be easy, but it must be done. 
 
To answer my own question. It's never to late to do something about your situation. But a lot of work and action is going to be needed to make it happen. 

Here are a few past posts that show my personal journey :

• Am I to Late?

• GOALS, GOALS, GOALS
• Can You Start At 50+? Part 1
• Can You Start At 50+? Part 2

Happy Anniversery Crash Of 1987

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Did you ever forget your anniversary? Well here's one we all would like to forget. The stock market crash of '87. It was October 19, 1987 when The Dow Jones Industrial Average dropped 508 points. This day has become known as "Black Monday". It was 23 years ago when this frightening day happened. 
 
We look back and think that it fell only 508 points, no big deal when we just had the recent drop on May 6 of 998.50 points. Only remember in 1987 that drop was a 22.6% of a Dow of only 1,738. The May 6 drop was only a 10%. If you had a 22.6% drop of today's Dow of 11,147, you would have a drop of 2519 points. They would be jumping out the windows on Wall Street. 
 
Could something like the 1987 drop ever happen again? According to expert finance professor Xavier Gabaix, of New York University, plunges as big as 1987's Black Monday while rare are an inherent part of the investing landscape. ( I only cringe more when I hear an economics professor.) 
 
Professor Gabaix discovered that the frequency of these huge plunges follows the known tendency of "Zipf's Law". A crash like 1987's will occur once every 75 years. With human longevity ever increasing this is not good news. I may live to see another 1987 crash. Naturally the law doesn't tell us when the crash may occur.   

Are You Responsible For Your Husband Or Wife's Debt?

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In short the answer is yes and no. Most people before marriage have some kind of debt be it credit card or student loans. This debt acquired before marriage is not the responsibility of the other spouse. It's debt you take on jointly is your responsibility. 
 
There are ways you can take on the responsibility of pre-marriage debt. On credit cards you can become a joint account holder. On the good side you get all the benefits of your spouses good credit history. On down side whatever debts they have are now your legal responsibility, too. 
 
What if your spouse takes on debt, be it mortgage or credit card, after your married. Is the other spouse responsible? The bad news is yes. What ever you do when your married reflects on the other spouse. 
 
What happens to the individual debts your spouse has upon their death? Joint debt is the responsibility of the surviving spouse. The individual debt most be paid off by the estate left by the spouse. If the late spouse owns anything it must be sold to pay off the debts outstanding. Anything left over goes to the surviving spouse or whoever the the will indicates. Of course it's best to consult a lawyer in the state you reside in to do this process legally. 
 
If your spouse does have previous debt before marriage, morally it becomes yours. If you want to marry the person, you take the good with the bad. Their debt is now your debt. To build a strong marriage you help each other in many ways, why not with the debt. Cleaning up the debt will only strengthen the financial foundation of the marriage. When it's paid off you have more money to put towards both your futures. 

Are High Mutual Fund Fees Really So Bad?

Image via WikipediaI was over at Morningstar.Com reading about expense ratios and star ratings. It turns out that lower expense funds do better than higher expense funds. Also expenses are a better predictor of future returns than Morningstar's own star rating. 
 
Russel Kinnel, Director of Mutual Fund Research, says the star rating is useful but that the expense ratios predict better everytime. "Expense ratios are a strong predictor of performance. In every asset class over every time period, the cheapest quintile produced higher total returns than the most expensive quintile. 
 
The math says for every 1% of additional fees, 28% of the total return will be missing. Assume that you are just starting investing and you have 35 years to invest. The balance in your account is $25,000. If returns on in investments in your account over the next 35 years average 7 percent and fees and expenses reduce your average returns by 0.5 percent, your account balance will grow to $227,000 at retirement, even if there are no further contributions to your account. If fees and expenses are 1.5 percent, your account will grow to only $163,000. The difference of 1 percent in expenses gets you 28 percent less. 
 
This example demonstrates why expense ratios are critical in your investing. A 1 percent difference over time will substantially reduce your investments. We are told, many investment gurus, if you can get consistently high returns the extra expense is not important. But who gets consistent high returns? I have some trouble with Morningstars star rankings. The ranking are a look backwards of fund performance. But we all know how funds can be up one year and down the next. On the check list of rating a fund, it's way down the list. After seeing the math on expense ratios, their is finally a good indicator that is more concrete in nature. When investing your precious dollars every advantage must be taken. It's your responsibility to be aware of all ways to maximize your return. 

7 Reasons To Not Buy A House

If your thinking about buying a house or renting, there is no easy answer. Your decision consists of balancing several personal factors, including your finances, location and life situation. 
 
Before the housing meltdown it was easy to decide. Conventional wisdom said buy it now because it would just be more every year you wait. It's a good investment for your future, is what we have been taught. 
 
Today's, buyers are a lot more careful. They see a not so sweet future between even having a job and committing to a long term debt like a mortgage. With houses looking like just a necessity and not an investment, people are nervous. 
 
Should you buy or rent? Here are a few things to think about before you make the plunge. 
 
1. Will you be in the area long enough for the house to be worth purchasing. If not, why not just rent until you are sure of the area and neighborhood. 
 
2. If your thinking of borrowing from your retirement savings to make the down payment, your not ready. Just save for the down payment till you have enough to put down to get the mortgage. You can always borrow money for a house, but you cannot borrow money for your retirement. 
 
3. Are you in credit card debt? It's best to be debt free when buying a house. What could go wrong, probably will go wrong. Your new home could be in a state of repairs for years, do you have enough money for this contingency. 
 
4. Do you have an emergency fund of 3 to 6 months expenses. Being house poor will force you to go into debt because your not ready for the rainy day. So start one and be prepared. 
 
5. Be sure your mortgage payment is not more than 30% of your monthly income. If it is higher you will never have any cash to take care of the house payment and do anything else. 
 
6. As a home owner are you prepared to deal with all the maintenance that goes along with ownership. Even basic up keep is expensive. If your not into home maintenance maybe it's better to rent. 
 
7. Are you sure about your current and future life situations. Are you getting married or kids about to fly out of the nest. If the house meets your needs today, will it meet the needs in 5 to 10 years. 
 
The simple answer is there is no simple answer. Your individual needs can only be sorted out by you. Remember your home can be not only an investment but also a place of security, comfort and central to family life. It can be a dream. 
But can also be a nightmare. 

Chilean Miners Saved By Capitalism

An saw an article in the Wall Street Journal Online about all the technology that went into the Chilean miners rescue. The rescue is unprecedented in mining disaster history. Mining is a dangerous occupation with a reputation for accidents caused by poor safety conditions and an inherent danger of working deep under the earth. Even with complete adherence to state of the art safety precautions, accidents cause by human or mechanical failure are a given.

With as much as possible being done in the mine for safety, things above the mine have advanced to a point that with a reasonable amount of time, a rescue can be successful. One of the heroes of the mine rescue is a drill. This drill called the Center Rock drill bit is made by a small company of 74 employees. The company Center Rock,Inc is Berlin, Pa. The drill rig came from Schramm Inc. in West Chester, Ra. Seeing the disaster, Center Rock's president, Brandon Fisher, called the Chileans to offer his drill. Chili accepted.

Samsung of South Korea supplied a cellphone that has it's own projector. Jeffery Gabbay, the founder of Cupron Inc. in Richmond, Va. supplied socks made of copper fibers that consumed foot bacteria and minimized odor and infection.

These entrepreneurs, both small and large, are the fuel that makes the engine of capitalism go. Innovation by companies are motivated by profit. Profits a bad word in todays society. But without that incentive there would be no Center Rock drill bit. We would be having funerals instead of celebrations. 

Entrepreneurs have built our computers, cars, space vehicles, and electronics. All we have is from innovation in an environment of capitalism. Where there is a reward for hard work, fantastic products will come. We can't punish these people with excessive taxes and regulation. making a product and getting rich from it is the American Dream. But when someone accomplishes that ideal we punish them with high taxes. 

If we want to compete in the world economy we better step up and build things here in this country. We have all the tools money, knowledge, and innovators. Other countries know this is the way to the future, have we forgotten. 

I have to add a little postscript to this post. While researching alternative opinions on this post I found many that disagree with my supposition. Many feel that the shoddy conditions of the mine were a result of unchecked capitalism. That may be true. It's for you to decide. I have included links to differing opinions than mine.

How to: Dispute A Credit Card Problem

Image via WikipediaYou can dispute billing errors, fraudulent purchases and even charges for damaged items paid for with a credit card. If you know your rights under the law you will have an easier time. The federal Truth in Lending Act is what gives you the rights you need to act. 

 
The first problem you may have with your credit card is unauthorized use. In case of unauthorized use of your credit card, the Truth in Lending Act limits your liability to $50. There is no time limit to report a lost or stolen card, but if you alert the credit card company before someone uses the card you won't have to pay anything. If it's a debit card it's different. You have to report a lost or stolen card within 2 business days to limit liability to $50. 
 
The second problem you may dispute is billing errors. These consist of purchasing items that were never delivered, the issuer didn't credit a payment or return of goods, or your statement contains duplicate charges for the same transaction. 
 
The law gives you a limited amount of time to catch such errors. You must send a dispute letter within 60 days of the first statement that contained the mistake to the address for billing errors. The creditor must do an investigation and resolve it within two billing cycles or 90 days, whichever comes first. 
 
The letter must contain your name,account number, the statement the error is on, the dollar amount and the reason for the dispute. You may not have to write the letter because some billing statements have a form printed on the back of them for this purpose. 
 
During this process you must still continue to make the minimum payment. If you don't you will incur late fees and it may adversely affect your credit report. Any overpayment will be refunded at the conclusion of the investigation. 
 
The third thing you may dispute is the quality of goods or services purchased on your credit card. You have the right to dispute and withhold payment on that portion of the bill. But still remember you must always pay the minimum payment. This right let's you raise claims with the merchant and raise them against the credit card company also. The restrictions are the goods or services must have cost at least $50 and the purchase had to have been made in your home state or within 100 miles of your mailing address. Check with your credit issuer about purchases over the phone or Internet. 
 
Remember you have significant rights to dispute problems with your creditors. Also these companies are well motivated to make you purchase experience a good one, so you will continue to use their product. 

How Much Life Insurance Do I Need?

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It's a difficult to answer because it depends on so many different factors in you life. To decide, run down this list to see which apply to your situation. 

 
Do you even need life insurance? If you have saved all your life you may have already accumulated enough wealth for your family to go on in case of death. If you have no dependents, your single or your spouse can support themselves what's the need for life insurance. If all you need is enough money for burial maybe just savings can cover that. Insurance is only for people who would want to cover a financial need in case of death. 
 
If I do get life insurance, how long should I keep it? The term should be for as how long as the time necessary for dependents to become independent. In my situation I'll be contining life insurance for ten years after the basic needs are done. It's a comfort to my spouse and a sense of security. That's what I'm doing personally, but it's generally not the rule. 
 
Now the most important question is, how much to get? Ask yourself how much money per year is necessary to replace you. Remember your families expenses will be lower because your gone. The amount won't have to be your actually salary. Also how long will this supplemnent be necessary? Maybe it's just till the children are independent or the surviving spouse is able to self support. There is also funeral expenses, childrens college and any obligations that need to be continued after death. Consider the equity in your house as a source of money if sold after death. 
 
At the moment, I have ten times my income between the equity in my home and a term insurance policy. So I feel quite content my family will be ok after my death. When you buy life insurance, your still protecting your family after your gone, like you do when your here. 

IRS To Allow Deduction For Chinese Drywall Problem

Image via WikipediaHere in South Florida we have a big problem with many homes being built with toxic drywall manufactured in China. It emits a higher level of sulphur than regular drywall and corrodes metal, causing problems for air-conditioners and other electronic equipment. 
 
To make matters worse many homeowners have complained that the fumes have made them sick. The federal government hasn't been able to link the drywall to their illnesses, but has recommended that homeowners replace the drywall and wiring, a process that can cost more than $100,000. 
 
Complaints about the drywall started a few years ago with many of them in Florida and Louisiana. The problem is worse because homeowners must still pay their mortgages on the damaged homes while also paying for temporary accommodations, while their homes are uninhabitable. 
 
Of course many lawsuits have been filed but the process is long and drawn out. The good news is the IRS has created a tax deduction for these homeowners. Under the new rules taxpayers can deduct the casualty losses ( the cost of repairs from a sudden and unusual event) in the year in which the loss occurs as long as the losses are not covered by insurance or other parties. The restrictions are that they must itemize their federal returns. And deductions are only allowed on amounts exceeding $500 and on amounts that exceed 10 percent of the taxpayer's adjusted gross income. 
 
Taxpayers who have pending insurance claims can take advantage of the plan but must later report it as income if reimbursed later. 
 
At the present time most homeowners have gotten no relief from any source. This tax relief will only help people who have the money or can borrow it for the repairs. 
 
Many homes in my area are new construction and are built with the toxic drywall. They are just sitting there either unoccupied or never sold. They are just waiting on lawsuits and insurance claims. This problem just adds to the foreclosure problem, overbuilding and excessive inventory in South Florida. These problems contribute to the depressed prices here. This also leads to property values not being high enough to qualify for mortgages, aggravating the home sales market. 
 
These problems along with the foreclosure process at a dead stop will only prolong the borderline depression here. At least this IRS help will help some homeowners rebuild at get the housing inventory selling. With many homeowners facing these many challenges, believe it may take a decade to come out of these problems.

A Horse Named Government

Image via Wikipedia I was reading thru a news article about the Gubernatorial race in Maine. On a local newspaper website called the  "Kennebec Journal" (http://www.kjonline.com/)  in  Kennebec County Maine including Augusta, Maine I saw in the opinion section this letter to the editor: 


There once was a farmer, who, like all farmers, lived off his land with little or no help from anyone else. He was never hungry, fed and clothed his family, and sold some of his extra products to his neighbors.

One day, the farmer was given a horse named Government. He was told that he would be able to do so much more with Government in his life, that he would be able to produce more and have more time for leisure. 

Nobody told him that Government required care and feeding and sometimes got sick and didn’t work very well. He had to grow extra crops to feed Government, and so actually needed Government to help support itself. Government also left large piles of mess that the farmer had to, periodically, clean out of his barn. The more the farmer used Government, the more he thought he needed it.

At some point in time, the farmer realized that, if he had just been left alone, he would be just fine without Government, but what should he do with Government?

Give him to another farmer? That didn’t seem ethical, knowing what had happened to him. It seemed as though he was stuck with Government and all its good and bad attributes.



David Kahl

Manchester

I hope in the next election people cast their vote with the sentiments of this gentleman in Maine. The Founding Fathers had a healthy fear of an all to powerful government we should keep that in mind.