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 This is a perfect illustration. (Thanks to Karen!)------------------------------------------------------------------------------------- "Jay Bergman, a faculty member at Central Connecticut State University (CCSU) in New Britain sent me this letter to the editor at the New Britain Herald(CT) from fellow faculty member and economics professor, Jim Loughlin. Loughlin commented, 'tongue in cheek' on the Obama tax plan that I wrote about in my post, "Reality Check". I think his metaphor of 'grade creep' illustrates mockingly the evident failings of the Obama 'spread the wealth' welfare transfer scheme. Besides it is delicious satire. Dear Editor: In Wednesday's Presidential Debate, a dialogue between Senator Obama and Joe the Plumber at a rally held earlier came up. The plumber complained that he had worked very hard to build his business only to have Senator Obama tell him he must be willing to pay higher taxes in order to be fair and "spread the wealth." As an economics professor I too have decided that it is time for a CHANGE. In this regard I have explained to my students my new grading system outlined here. Earned grade: 40-49 + 25 points 50-59 + 20 points 60-69 + 15 points 70-79 + 10 points 80-89 + 5 points 90-100 - 10 points (top 5% of students) As the grading scale indicates, 95% of my students will get a "grade break" while only the top 5% will be penalized. Thus, the less productive students who miss class and study less will have an incentive to remain less productive while the better students who come to class more often and study harder will be encouraged to be less productive. The effect of this policy should be to make all of my students' knowledge of economics mediocre. But, by "spreading the grades" this way, students will think the system has treated them fairly and I will get better student evaluations. Can you see how great my fairness doctrine is? Maybe I should run for President. But then again, I might be "too old!" Sincerely, James C. Loughlin, Ph.D. | ||||
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