Tuesday, November 19, 2019

The Keys To American Prosperity.

December 4, 2018 by  
Filed under Business, Money, News, Opinion, Politics, Weekly Columns

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(ThyBlackMan.com) President Trump’s economic strategy consists of four elements – tax reform, trade reform, regulatory reform and energy reform.

These four parts work together to boost American growth and incomes.

Lower tax rates put more money in consumers’ pockets, money they will spend on goods and services in their communities. Small businesses got a tax break too, so they can invest and expand to meet the increased consumer demand.

Trade reform levels the playing field for American manufacturers who have been forced to compete against companies subsidized by foreign governments.

That, along with regulatory reform, has manufacturers coming back to the U.S. They no longer fear an onslaught of new government regulations, and they are again building productive capacity in this country.

Energy reform taps America’s natural energy resources. We are now the world’s No. 1 oil producer and the leader in energy technology.

The Atlantic Coast Pipeline, a project on President Trump’s National Infrastructure Priorities List, provides the perfect example of how the four-part synergy works.

The 600-mile long pipeline will carry natural gas from wellheads in West Virginia to customers in Virginia and North Carolina. It will reduce U.S. reliance on foreign oil, save $377 million on energy costs annually, produce $28 million per year in local tax revenue and generate $2.7 billion in economic activity across the region. Men and women are now being trained for the 17,000 jobs involved in building the pipeline.

Tax reform encourages companies like Dominion Energy to make major capital investments.

Regulatory reform is streamlining the permit approval process for infrastructure projects. The Atlantic Coast Pipeline has secured the final go-ahead to begin construction in Virginia.

Energy reform facilitates the extraction of natural gas from the shale fields in West Virginia, and encourages the use of this clean-burning fuel in our homes, offices and industries. Abundant, affordable energy gives American manufacturers an advantage over foreign competitors with lower labor rates.

These three components of the president’s strategy increase energy supplies. That brings us closer to energy independence, ending our reliance on hostile regimes for the fuel we need for our homes, businesses and automobiles.

Then, the fourth leg of the growth platform, trade reform, makes it possible to export our energy to the rest of the world. That will help reduce our record trade deficits, keeping cash and jobs that would have bled overseas in America.

The Atlantic Coast Pipeline has environmental benefits as well. Natural gas burns cleaner than coal or oil, and pipelines are far safer than trucks or trains for transporting energy. However, that hasn’t stopped environmental groups from launching spurious court challenges to block it.

When Congress meets this month it must remove the regulatory hurdles that stand in the way of completing the Atlantic Coast Pipeline and crucial infrastructure projects like it.

This will ensure our nation has the energy, skilled workforce and opportunities necessary to maintain the broad-based prosperity that has made America the envy of the world.

It’s good policy and good politics.

Written by Curtis Ellis

Official websitehttp://twitter.com/curtiswellis



One Response to “The Keys To American Prosperity.”
  1. A.P. Terell says:

    This was a great article to read! Thanks Curtis.

    I would like to point out some huge disadvantages to average American middle class people by this four part economic strategy.

    1) Lower tax rates give companies the opportunity to raise the salaries of their workers and create more jobs. Most of the time companies end up using the additional income from tax cuts to: fund additional market research campaigns and new technology development projects, buy back their own company stocks, and finance executive salaries. None of these options put money into consumer’s pockets.

    2) Trade reform helps American businesses compete with international companies who have figured out how to make better products at cheaper prices. However, most American businesses lost their competitive edge when they stopped making new products (Detroit Auto Industry) and started charging middle-class citizens as much as they could to maximize profits. If we put laws into place to build them back up, they may end up doing the same thing again.

    3) Regulatory reforms allow companies to expand and bring money back into the U.S. Many of those regulations in place also protect average citizens from being robbed of their land, resources, and good health. The oil companies for example that want to build new pipelines across America often “redistribute” currently owned land with the government’s blessing (Dakota Access Pipeline). When the pipelines have leaks & spills it also contaminates the water of the towns unlucky enough to be near the construction sites causing all types of cancer and health issues for generations.

    4) Natural gas is a lot better to use than coal or oil. Not only does the use of coal kill us literally and figuratively, the process of extracting oil from the earth has many risks. Unfortunately, the process of extracting natural gas is very similar and carries the same risks and is often done side by side with oil.

    Positive outcomes can be found in any economic proposal package, but we cannot ignore the huge risks we as middle class citizens are taking when we bet on an plan that President Trump proposes that was ultimately created to make him and his wealthy counterparts a lot more richer.

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