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New Braunfels Herald Zeitung Newspaper Archive: November 17, 2005 - Page 6

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Publication: New Braunfels Herald Zeitung

Location: New Braunfels, Texas

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   New Braunfels Herald-Zeitung (Newspaper) - November 17, 2005, New Braunfels, Texas                                Page 6A HERALDZEITUNO November OUR OPINION Dont bet against these Unicorns New Braunfels High School once again is a strong contender to win the state girls volleyball A ftf jLBr fter a threeyear the New iraunfels girls vol leyball team is back where it feels at home in the University Interscholastic League state Reaching state had become commonplace for the Unicorns during the late 1990s and early part of this New Braunfels made it to state in and winning the championship in But the road was a bit rockier the last three Despite having dominant regularseason teams in 2003 and the Unicorns fell early in the Last things were even as New Braunfels failed to make the But rather than feel sorry for the Unicorns went back to Under the senior leadership of Sam Rachel Deanna Dahse and Chelsie a young Uni corn squad grew quickly this With Phyllis Fowler providing her usual steady New Braunfels roared through district play with only one hiccup a loss at But while playing their best match of the New Braunfels cruised by the Cougarettes in the regional finals to return to In just reaching the state tournament is a major When the Class 4A play offs 96 teams were competing for a state Just four teams remain as the state tourna ment begins Regardless of what happens this New Braunfels already has had a memorable A team made up largely of sophomores and juniors has reestablished itself as one of the best in But simply being one of the best is not the Uni corns ultimate and to accomplish New Braunfels needs two more The field in San Marcos this weekend is and winning a state title will be But after everything the Unicorns have accomplished thus far this we would not bet against TODAY IN HISTORY By The Associated Press Today is the 321st day of There are 44 days left in the Todays Highlight in History On Congress held its first session in Washington in the partially completed Capitol On this date In the Suez Canal opened in In Lyndon Baines Johnson married Clau dia Alta better known as Lady In President Nixon told Associated Press managing editors meeting in Peo ple have got to know whether or not their president is a Im not a In Irans Ayatollah Khomeini ordered the release of 13 female and black American hostages being held at the Embassy in LETTERS POLICY Letters must be 250 words or HeraldZeitung reserves the right to edit all Guest columns should be 500 words or less and must be accompanied by a Address and telephone number must be included so authorship can be Mail letters to Letters to Editor HeraldZeitung Drawer 311328 New TX 781311328 Fax them to 830 6063413 email them to HeraldZeitung Serving New Draiinfcls anil Cental County since New Braunfels Zeitung was founded 1852 New Braunfels Herald was founded The two papers merged in 1957 and printed in both German and English until Managing Editor Editor and Publisher Circulation Director Advertising Director Busjness Manager News Editor Pafford Doug thltldt DavldJupkaJyU rnucuccuM In tax cuts didnt work A of our better political com Tom has boiled Adown our entire current political debate to one question Are they or are they lying This seems to me pretty much how it each side reduced to accusing the other of living in an alternate Lets see if we cant find a way to frame the question that would allow an answer from empirical evidence both sides can agree When it comes to many actions of the Republi can there is now a substantial track record of The evidence is For five years the Republicans have promised us that business tax cuts would strengthen the create new spur foster investment and bring beer and Skittles for Over five fiscal the tax cuts have had a direct cost to the treasury of Lee Price of the Economic Policy Institute points out The fact that all major economic indicators are higher today than in early 2001 s not mean the tax cuts have been Since mi Great the resilient economy has always had gains over such four year The appropriate question to ask is How well has the economy performed com pared to similar periods in the past If the last four years of tax cuts had worked as the economy should have done better than in previous when taxes were either not cut or cut much We all down for that the EPI By virtually every the economy has performed worse in this business cycle than was typical of past including that of the which saw major tax In the economy entered a recession not long before the first Bush tax the economists call a shallow recession why dont they ever talk to the people whose unemploy ment insurance ran The economy has been in an expansionist phase since November EPI found an annual growth rate of wage and salary income of below all six previous cycles and nearly 2 percentage points below their average percent As for the cuts supposed to spur investment Business investment in equipment and software socalled nonresidential invest ment was only percent higher in the second quarter of 2005 than it had been in the first quar ter of That is less than half of the per cent growth found in the worst of the six prior and but oneeighth of the percent growth rate in the strongest prior The EPI study goes on to provide bells and whistles measuring all this six ways from The series of major tax cuts enacted in the past four years has not strengthened the Every broad domestic personal income and business has fared worse over the period than in previous contrary to Republican It turns out the one tax cut that really did help snap the recession early was that middleclass tax rebate the Democ rats stuck into the Bush bad what did happen to all MOLLYIVINS Molly Ivin is a colum nist for Creators Syndi She also does occa sional commentary for National Public Radio and the that money from tax cuts that was supposed to go into investment It didnt go into higher wages thats the factor that accounts for the generally dismal public perception of this econ shareholders got Executives continued to get staggering pay Ill say this for Americas corporate executives They certainly werent cowed by the Im sorry it didnt work out the way the Republicans it why many argued against such cuts in the first The question now so why do it again Why give the oil industry more tax breaks Why do they keep doing it Is it or is it stupidi ty Corporate tax revenues are now at historic low levels as a share of federal going back to the That means individuals have a much larger share of the total tax One of my favorite tax cuts was the six onetime special on foreign Passed in this monumentally stupid piece of corporate pork was a special favor to drug and hightech companies who had been storing their profits John Breaux said at the The company mat left Louisiana is going to pay a 5 percent tax on the widgets they make and the company that stayed in Louisiana is going to pay a 35 per cent If that isnt an incentive to I dont know what The Republicans specifically rejected an amendment to that break that would have required the companies to invest the So did all those foreign profits flow home and get invested in new plants and create lots of jobs United States Government PRESIDENT GEORGE BUSH 1600 Pennsylvania NW 20500 KAY BAILEY HUTCHISON Russell Senate Office Building Room 284 20510 Telephone 202 2245922 Fex 202 2240776 Web Send emails through Web SAN ANTONIO OFFICE 145 Duncan Suite 120 San Antonio 78226 Telephone 210 3402885 Fex 210 3496753 JOHN CORNYN Russell SenateHart Room 517 20510 Telephone 202 2242934 Fex 202 2282856 Web Send emails through Web AUSTIN OFFICE 221 West Sixth Suite 1530 Austin 78701 Telephone 512 4696034 Fax 512 4696020 SAN ANTONIO OFFICE 600 Suite 210 San Antonio 78205 Telephone 210 2247485 Fax 210 2248569 CONGRESSMAN LAMAR SMITH Rayburn House Office Building Room 2184 20515 Telephone 202 2254236 Fax 202 2258628 Web address Send emails through Web SAN ANTONIO OFFICE 1100 NE Loop Suite 640 San Antonio 78209 Telephone 210 8215024 Fax 210 8215947 HENRY CUELLAR 1404 Longworth House Office Building 20515 Telephone 202 2251640 Fax 202 2251641 Web eddress SAN ANTONIO OFFICE 1149 Commerce Suite 210 San Antonio 78205 Telephone 210 2712851 Fax 210 2776671 HOW TO CONTACT Texas Government GOVERNOR RICK PERRY State Room Box 12428 Austin 78711 Telephone 800 8435789 Fax CARTER CASTEEL 254 Mill New Braunfels 78130 Telephone 830 6270215 Email address STATE SENATE JEFF WENTWORTH 1250 NE Loop Suite 720 San Antonio 78209 Telephone 210 8267800 WHILE IN AUSTIN Telephone 512 4630125 Email address jeff.wentworth@senate.state.tx.us JUDITH ZAFFIRINI Box 627 Laredo 780420627 SAN ANTONIO OFFICE 12702Toepperwein Road San Antonio 78233 Telephone 210 6570095 Fax 210 6570262 Campaign needed to free student debtors from punitive interest rate policy DICKMOHHIS Dick Morris was an adviser to Bill Clinton for 20 Specialinterest legislation doesnt get much more obnoxious than the bill now making its way through Congress to clamp down on students and former students who want to refi nance their loans at lower interest They are about to be severely punished for seeking not only an education but a debtfree life While homeowners can refinance their mortgages as often as they want and relieve themselves of high interest debt when rates cycle student and formerstudent debtors are only permitted to refinance once for the lifetime of the And now the House is considering legislation that would stop students who are in school from keeping their current interest rate of percent and would instead force them to pay creating a lifetime burden entirely unjustified by the lending mar Many students are locked into rates that approach 9 or 10 reminders of the grim economic days of the early and find themselves with no students use their once only refinancing option shortly after graduation and find themselves help less as the market interest rates drop ever Homemortgage often similarly guaranteed by Fannie has become a huge industry and has given many families alternatives to bankruptcy as they face huge debt bur But student loan refinancing beyond the one shot now permitted is blocked by specialinterest regulation and The legislative efforts by special inter ests reflect the power of the once quasi public body Sallie Mae Student Loan Marketing which has now cut off all connection with the govern ment and instead become a profitmak ing company unrelated to the govern ment called the SLM With a 25 percent share of the student loan market more than six times that of its rivals SLM has cashed in on fed eral guarantees against defaults on the one hand and blocked student refinanc ing on the As a according to columnist Terry writing for SLM has made a profit of 1 percent over its loan volume of billion bil lion in Since student loans constitute one quarter of all outstanding SLM has huge market power that it has not hesitated to translate into political clout through campaign contributions that water and nourish the Republicans who control the legislative In the SLM PAC contributed almost to the members of the House Education and the Workforce Committee to lock in their preferential Once SLM abandoned its federal charter and went into business for this publicprivate hybrid should have lost its quasigovernmental status and been forced to compete in the private marketplace like anyone All regula tions restricting refinancing or consoli dation should be If there was ever an area in which the Republicans should effectuate their rhetoric and this is Student loans are the shackles that most young people take into the rest of their lives after leaving Keeping this debt hangover large and rendering it inflexible is about as anti family a policy as you can forcing young people to postpone starting fam ilies because of the load of debt with which they begin life Yet it is the led by Ted Kennedy jjibo are most vociferous in bat tling for For President desperately seek ing traction with which to regain his a crusade on behalf of stu dent announced in his State of the Union might be just the Bush could help himself get out of political red ink by mitigating the finan cial red ink in which an entire genera tion finds itself   

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