Donald Kuenzi (10/18, Letters) thanks President Bush for the recent drop in gas prices and wonders why those who were critical when prices hovered around $4 a gallon weren’t now expressing thanks as well. If Mr. Kuenzi is indeed serious about his bewilderment, I offer two explanations.
First, some of us have memories that reach all the way back to four or five years ago when anything over $2 a gallon seemed high; compare the “low” price of gas this week to the price when President Bush took office (about $1.50 a gallon).
Secondly, many people may have been too distracted by the plummeting value of their 401k and IRA accounts to experience the joy of gasoline that cost “only” $2.95.
Corwin Simmonds
Roeland Park
Corwin, one thing people forget is that the majority of 401k have matched dollars. So, if you employer matches 50 cents on the dollar and you earn zero yield on your account, you have still gained 50 cents on the dollar plus the reduction in taxable income. It could be worse, Social Security affords us ZERO control and ZERO accountability alongside a negative yield. Heck of a deal, huh.
Posted by: NoMoreMrNiceGuy | October 26, 2008 at 09:17 AM