"Northwest of Oslo.”
I don't believe that Democrats or Republicans are going to be able to figure out how to pay down our huge debt, one of the few economic entities measured in trillion of dollars. There isn't sufficient practicality or flexibility in the ideologies of either party.
Both parties are disinclined to tax the upper 20%, those with the money in this country, where a significant amount of revenue could be produced, so that we could begin paying off this debt that we have with other countries.. And this debt will probably destroy both our capitalism and democracy.
Although we will fairly soon have to look toward the taxing system of both Presidents Reagan and Clinton to attain sufficient revenue in order to run our country, as it has developed since the thirties, we'll even have to go farther in terms of practicalities.
Most oil and natural gas-producing countries share in the profit that results from retrieving, refining and distributing these energy products. We do not. Norway seems to have developed the best of national policies toward its naturally derived energy resources.
I'm therefore referring to my proposal as “Northwest of Oslo.” I might remind some of my readers that Norway is a capitalist country, doing very well in knowing its way in the international business world. It has very practically superimposed on itself a layer of social programs referred to here as socialistic welfare programs.
Perhaps with its nature for considering the collective good of its citizens, it has taken its good fortune of discovering oil sources in the Nordic part of the world as a national blessing and has extended extensive control over these energy resources and gained in a capitalistic way from that thinking.
For us, Norway serves a better model than Saudi Arabia. Therefore, my proposal to save our country from fiscal destruction in the hands of either party or as presently in the hands of both parties, I'm making this proposal and shall perhaps move it beyond our readers here.
I'm calling the proposal the “Northwest of Oslo Proposal.”
And it's a simple one. It calls for the American government to take part in the gains that are made through the exploitation of our energy sources, accomplishing this through contractual arrangements.
This means that we shall participate in the business of utilizing oil, natural gas, coal and other resources such as wood and agricultural products that are to be used for energy purposes.
However, I don't strongly believe that the American people, especially the political leaders can take on this practical solution to one of our main economic problems. But I make this proposal never-the-less, hoping.
Unless we face up to realities of our natural resources and the practicality that a country cannot exist without a proper and steady revenue system, operating for the good of all the people and not only for the rich, we may soon rather than later go the way that all leading countries have done.
I suggest that we immediately consider a practical Reagan or Clinton tax plan and that we get a meaningful “Northwest of Oslo Proposal” underway, if we are to survive the fiscal crisis that blind ideologist have lead us into and who will not change direction because of that remaining blindness, stubbornness and now superimposed deafness.