Debt Free

It's a favorite song and dance of politicians everywhere; “Vote for me and I'll lower your taxes” You usually think that's a great idea, even if it means taxes on other segments of the population are going up, which it usually does. Some pols, on the other hand love to talk about raising taxes, usually on the big, evil corporations, which for many Americans, has much the same effect when it comes to delivering votes. Yesterday, Democratic presidential candidate Barak Obama delivered a whale of a speech, in which he opined the best way to restore equality to America's tax payers would be to eliminate corporate tax breaks for oil and gas companies.

In this time of record profits, seen by some as reckless profiteering, that are being generated by said oil and gas companies, this strikes many as a fair way to ease their tax burden by shifting it to someone who can afford it far more than they. A larger question is, in this time of increasing unrest in the Middle East, should we be doing something that could possible increase our dependence on foreign oil? We should be striving for energy independence as fast as our national will can take us there.

Taking money out of the oil and gas companies pockets reduces their budgets for exploration and R&D, something that's going to be sorely needed if we are to obtain any semblance of energy independence. An alternative to eliminating their corporate tax breaks entirely, while retaining the appropriate amount of corporate meddling required to engender voter approval, might involve tax credits for research, alternative energy development, and exploration efforts performed by the energy companies.

Now isn't the time to become more reliant on troubled areas we have little control over. With Iran looming as dark force in the region, causing fear among her neighbors and unrest in the international community, we may need those troops we have overseas to ensure our oil supply. In fact some have postulated that our real reason for being overseas, conveniently in countries on either side of Iran, has little to do with coincidence.

As much as some are loathe to admit it, our very economic foundation rests upon a pool of oil, and cheap oil at that. Everything from your getting to work today (even in that Prius you're so proudly displaying), to the delivery of the beans for your morning latte, the road you traveled on, the plastic in everything you touch (including that cell phone you talk on while driving, much to the frustration of others you share the road with), and yes, the energy you're using to keep your computer going as you read this, is all because of that addictive black goo that pours forth from the ground.

If that tap is to run dry, or even be reduced to a dribble, you can kiss goodbye much of the good life you've enjoyed for so long. If that were to happen at the same time as our credit markets are experiencing a mini catastrophe, well, would everyone please hold on to the handrail.