Like all liberals, Barack Obama detests the US for her past sins of colonialism, slavery, and success while other nations struggle. To rectify this wealth imbalance, he is preparing to put before the Senate, with traitor John Kerry's help, the Law of the Sea Treaty(LOST). If passed, Article 82 will bind any member country to fork over taxes on any commerce conducted beyond the 200 mile continental shelf limit. Essentially this is a tax on the US alone as we are the only nation who drills for oil in water that deep. The taxes will be collected by an international body based in Jamaica.
From FoxNews -- If the U.S. joins LOST, it will be required by Article 82 to forfeit royalties generated from oil and gas development on the continental shelf beyond 200 nautical miles — an area known as the "extended continental shelf" (ECS).
LOST amounts to a money grab of US dollars to be distributed to poorer nations UN-style, that is if there's any left after the bureaucrats spend it on their lavish life-styles in Jamaica. The Constitution says that only Congress has the power to collect taxes, so unless I'm mistaken, no US President has ever ceded US sovereignty to any international body. To Obama and the democrats, the Constitution is something to be gotten around, not the revered law of the land.
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