To the editor:
Obama claims there are no "magic solutions," "no quick fixes," "no short-term silver bullets" to our current income versus energy crunch. Yet, if he would end one energy exploration moratorium for each cliche he used, that'd be a good start. If he had ever run so much as a hotdog stand, he would know enough economics to understand that everything he has done has not been productive, but destructive, to our economy, price stability and energy supplies.
As usual, his only response to our very real problems was to demonize opponents, repeating his 5-year-old campaign mantra "anyone saying we can drill our way out of this is lying." Not only does this illustrate he has no clue about basic economics, supply and demand, but that the only liar, here, is the unaccomplished community organizer who claimed he could handle the job of president.
Now, he wants to "double-down" on taxpayer-funded "incentives" to his campaign donors for supposed "clean energy" boondoggles and "research," increase taxes on wealth creation, subsidize "algae," conservation, competition and modernization of the monopolized power grid, force more expensive and efficient cars on Americans and to drive more American companies overseas with a capricious new corporate tax scheme.
If those work, it would be magical.
We don't need magic, but logic, to yield a "miraculous" recovery.
Government doesn't build wealth, only consumes it. Speculation produces no wealth, only redistributes it.
Only production builds wealth. All production requires affordable energy input. Cheap energy is the fastest pathway to economic recovery.
All products have an energy value, based upon the energy contained within or that expended to make, market and distribute them, that is the measure of the "capital" stored within. All "capital" and energy products, from cash to corn to coal to our cities' trash, are strategic resources, which should be used to rebuild our economy, not others. Capital should be taxed higher, if exported, than if employed closer to its origin, and repatriation should earn tax credits.
Our founders didn't permit direct federal taxation of Americans, yet, permitted "import/export" duties and "excise" taxes. They understood the danger of parasites killing their productive host, exporting our wealth, and building foreign economies at our expense.
Larry M. Aden