Inbox

(2 of 3)

With his proposal for broad new energy taxes, Michael Kinsley gets my vote for insight of the year [Dec. 22]. I don't like high gas prices any more than the next guy, but I would rather put the money to good use in the U.S. than send it to OPEC. The American people have demonstrated beyond a doubt that they can and will get by with less gas if there is a compelling reason in the form of a higher price at the pump. The enormous, unstated side benefit of Kinsley's proposal is a huge step toward energy independence. Who did not enjoy seeing the OPEC ministers being forced to reduce production because of reduced demand in the U.S. and worldwide? I wonder if our elected representatives will have the courage to pursue Kinsley's idea. Richard Parins, SARASOTA, FLA.

Kinsley's latest missive in time falls prey to one of the oldest traps in economics--Frédéric Bastiat's broken-window fallacy. Just as a broken window creates work for the glazier at the expense of the window owner, money that Kinsley hopes to inject into the economy must first be taken out of it. Add in collection costs and the usual political malfeasance, and we have a net loss to the economy. There's more: Kinsley argues that last summer's high oil prices were essentially a tax on consumers; the money just went to oil companies instead of the government. But he forgets that oil companies do not have control over their prices. If they did, then why would oil prices ever drop? Kinsley's logic does not follow. Ryan Young and Drew Tidwell, Competitive Enterprise Institute, WASHINGTON

Don't Worry, Be Happy

Your article "The Happiness Effect" reminded me of a highly revered saint in the Orthodox Christian Church--St. Seraphim of Sarov [Dec. 22]. He once said, "Learn to be peaceful, and thousands around you will find salvation." Thanks for the article. Lisa Lilles, SPRINGFIELD, ORE.

In Defense of Beloit College

When I read the article on Beloit College, which quoted me, I was surprised to find that I was scared not only about my financial aid but also that I would not return if the award was decreased [Dec. 22]. As I recall from the interview with reporter Kathleen Kingsbury, she asked if we (the five or so other students and I) were worried about financial aid, and we responded that we were not. I also recall saying that, as I intend to go to medical school, a few more loans, though unwanted, would not stop me from completing my degree. Overall, I am very satisfied with the financial aid I receive from Beloit College because it has allowed me to get through my undergraduate education with fewer loans than anticipated. Shanna Dell, BELOIT, WIS.

TIME's Person of the Year

Great choice [Dec. 29]. Apparently, it is a choice also supported by my 5-year-old nephew, who was visiting Toronto recently and proudly told me the name of his country's new President: "Rock Obama." Ahamed Ismail, TORONTO

Give him some time. Barack Obama has done some really good things as a freshman Senator, but is there any other basis for which he has demonstrated merit to be Person of the Year? Your award was premature and myopic and reduces the distinction to meaninglessness. Obama has wonderful potential, but this award should go to the outstanding individual who has already delivered the goods. Daniel Ahlfield, DULUTH, MINN.