Reaping What We Sow
Re "Life Without Credit" [Nov. 3], Bill Powell is spot on in identifying what this financial mess is all about: too much debt. But it is distressing that the only proposed solutions involve rewarding more debt. Let's, at least for the short term, raise taxes on well-off corporations and wealthy individuals, stop senseless wars financed by debt and eliminate the income-tax deductions for home-mortgage interest. Plus, don't artificially lower interest rates — this punishes those who saved sensibly. And we must all prioritize our spending wisely. I'd rather have fewer mortgage brokers...

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