Monday, July 2, 2012

UN Law Of The Sea Treaty

The United Nations Law of the Sea Treaty has been hanging around since the 1980's.   This treaty is designed to govern navigation and the exploitation of ocean resources.   To the extent that this treaty brings order to what could be chaos, it is good.  Many American companies and the US Chamber of Commerce support this treaty because it sets the rules of the sea, so to speak, which is always good for business.  As such, 60 nations, that would benefit from this treaty, have already ratified it. 

However, in 1982 President Reagan refused to sign the UN Law of the Sea Treaty because it would cede taxing authority to the UN International Seabed Authority based in Kingston, Jamaica.   The end result is that American companies, implementing mining or oil drilling, or other seabed exploitation on the outer continental shelf, would have to pay royalties and other taxes to this international organization, rather than the US government.  

This is very much a Socialist Scheme to redistribute income in the form of corporate taxes from the rich countries to the poor countries of the world.   And, let's face it, American global companies already pay taxes to many foreign country taxing authorities so no doubt they would see this UN organization as just one more taxing authority; so no big deal.   The problem with this thinking is that it is estimated that it would cost the US Billions, if not Trillions of dollars in the next 20 years when we have a $16 Trillion National Debt to pay off.   

So as much as we might like to help the people in poor countries and do so regularly both by government aide and charitable contributions, we can't afford to give up this revenue source when we are borrowing $4 Billion a day to fund operations of our federal government.  HELLO.   The United States is facing bankruptcy.   In addition to Obama's annual Trillion Dollar plus deficit spending, we face Trillions of Dollars of unfunded liability for Social Security, Medicare, Medicaid and ObamaCare, if it is not REPEALED.   The United States cannot afford to give up this important revenue source that is only likely to grow. 

Of course, Socialist President Obama is prepared to sign the UN Law of the Sea Treaty if it is ratified by the US Senate.  Surprise, Surprise.   This treaty would be fine, if this one provision about payment of royalties and other taxes to a foreign entity is stripped out.  Obama the Community Organizer, Law Professor and Nobel Prize winner (not sure for what) is not the best person to negotiate this deal due to his lack of experience.  Obama's need to be loved will cause him to give away the store.  

President Reagan had been around the block a few times before he became President, which is the reason he would not sign the Law of the Sea Treaty.  Ceding taxing authority to an international agency is akin to giving up our national sovereignty.   We can't allow that to happen.   Many Conservatives are opposed to this treaty as a result of this issue.   Call your Senators and tell them to pass until this Socialist Scheme is eliminated. 

In the mean time, all should know that Socialist President Obama is prepared to sign away our national sovereignty.   We can't let that happen.   We have to make Obama a one term President in 2012 and at the same time sweep his Socialist pals in Congress out of office to take back our country.   We can do it.   We must do it to preserve our freedom, our nation and way of life for the sake of our children and grandchildren.   The Law of the Sea Treaty, as currently configured, is not in the interest of the United States.   We should all stand up and just say NO. 

P.S.  Go on to donate to Mitt Romney's Presidential Campaign to make Obama a one term President.  To do so, just click on Donate.  When you see the box that asks, Do you know your referrer, click on the box and type in National Freedom Forum's referral number of 8544 so that we can exert our influence. 

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