Drudge Retort: The Other Side of the News

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FedUpWithPols

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Rather than taxing imported oil which would increase the price of oil based products in the US, the tax should have been limited to exported oil. Not only would this be a deterrent to oil exports and help keep the price of oil based products cheap here in the US, but the countries purchasing our exported oil would end up subsidizing our economy.

It's being reported that China has bought the first shipments of American crude since the oil export ban was lifted.

www.reuters.com

This is good because it can begin to equalize the trade balance with China. However, the US must not fall into the same export trap that afflicts most African countries i.e. becoming to dependent on the export of raw materials; not manufactured goods which is where most of the profit is generated. Manufacturing also results in higher paying jobs for more people.

California is having their own Flint, Michigan situation

Previous generations of Americans paid for and did the work to create what was, at the time, a great infrastructure. They built the dams, bridges, schools, court houses, hospitals, etc.

We built our great economy and lifestyle assuming that the infrastructure would always be there. Monies (i.e. tolls, usage fees, taxes, etc), allocated to maintenance, was siphoned off and placed in the general treasury to provide services and tax relief.

When we had a strong tax base (i.e. large numbers of well paying jobs), the potential existed to fix our infrastructure problems. However, now that many of those jobs have been lost to outsourcing, off shoring, etc., our ability to finance the fixes to our aging infrastructure is greatly diminished. As a result, our economy will falter and our lifestyle will degrade.

Trump appeals to a lot of people even though some wouldn't admit it publicly. He has correctly identified the solution to the problem: immigration (legal and illegal), globalization, free trade and insufficient tax revenue. Other candidates, because of their funding sources, only want to deal with a piece of the solution.

Unfortunately, Trump, is the wrong messenger to deliver the solution. Cloaking the solution in nativist, xenophobic language obscures the message and offends the sensibilities of many would-be supporters.

Unless we get immigration, globalization and free trade under control and start to increase our tax base by bring back good paying jobs, imposing a temporary wealth tax, we're toast.

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