- Krispy Kreme coming to Cape Girardeau (12/14/17)1
- Feds ask judge to impose $6.5 million punishment for Cape surgeon (12/7/17)9
- Light and music show: Jackson family goes high-tech with Christmas display (12/11/17)
- Former Wimpy's Drive-In owner Freeman Lewis dies (12/9/17)2
- Makeover at the movies: Transformation complete inside Cape theater (12/8/17)4
- Jury convicts Scott City man who confessed to murder; girlfriend's testimony corroborates confession (12/9/17)
- Cape schools to get two new principals, assistant superintendent (12/13/17)1
- Two Cape County residents, including former Jackson police officer, face burglary charges in Colorado (12/12/17)
- Pedestrian struck on Broadway (12/11/17)4
- Sugarfire Cape barbecue restaurant to open June 2018 (12/7/17)
Oil companies provide jobs, income
To the editor:
Note the headline: "Ford to halt production at 10 plants." Ford also is cutting production by 20 percent, laying off people and closing subsidiaries. General Motors also has discharged numerous employees and closed plants, and their suppliers are in bankruptcy. The reason both major companies are in such a perilous state is that they are losing money like a hemophiliac loses blood.
Locally, as well as nationally, many are calling for the big oil companies to be burdened with windfall profit taxes. Why? They are making money, providing jobs and supporting many other companies and organizations. This is the way the free-enterprise system works under capitalism. Don't try to penalize them. The last generation in our country has rapidly become socialistically oriented because so many have become dependent on the state for everything.
I own no stock nor have any investment in the oil companies, but I am all for their making money. If they are making money, they will continue to provide jobs for those who aren't rich, which includes me as a retiree, and many small companies and stations will provide a livelihood for many families and investors, which is the way free-enterprise capitalism works.
WILL E. WADE, Jackson