Thursday, November 15, 2012

Re revenue enhancements

Dear Mr. President,

RE: Revenue increases.

You can, if you simply do nothing to stop it, see an additional $60-400 billion dollars in new revenues flood into the treasury, each and every year, WITHOUT raising taxes on anyone.

Sounds impossible, right? Some sort of trickle-down voodoo trick, right?


According to a recent IEA report, the US can be energy independent within a decade and become a net exporter of oil a decade or two after that, thanks largely to new fracking technology (not Solyndra or GE Windmill giveaways). This single change in our trade balance with other countries can add between $60 billion and $400 billion in new tax revenues to the treasury, each and every year without raising anyone's taxes. All that is required of you, Mr. President, is to have the wisdom to stand aside and just let it happen on Federal lands too.

Allowing exports of natural gas (and oil a few decades out) would allow the US to start exercising the same international 'soft power' that Iran now enjoys with China's veto their oil has bought. This is the same soft power that Russia's natural gas giant flexes over Europe every cold winter.

Drilling until we export oil may well keep us out of the next "war for oil" in the Middle East, something worthy of that Nobel Prize, and selling to our friends in China, India, and Japan would go a long way to easing tensions in that simmering ring of nuclear-armed fire. The dispute over the ownership of worthless islands only took on 'Cuban missile crisis' status after oil was discovered in those same waters. But neither China nor Japan would think of going to war if their friends in Washington had an endless supply of millions of barrels a day, ready to sell them at reasonable prices. War is expensive, often measured in trillions of dollars, and victory is never guaranteed. All three of those ancient civilizations respect that pearl of wisdom our young nation tends to forget.

But it looks like the first act of our newly reelected Peace Prize President will be to continue his class warfare with a poisonous, partisan assault against the overwhelmingly reelected House Republicans. This will surely destroy any chance of bipartisan cooperation for the next four years, and free up his entire calendar for another 400 rounds of golf.

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