06 Sep 07 Ron Paul on Taxes
Working Americans like lower taxes. So do I. Lower taxes benefit all of us, creating jobs and allowing us to make more decisions for ourselves about our lives.
Our tax rate is way out of hand, and our federal government is to large. We agree that continued tax cuts are beneficial.
Whether a tax cut reduces a single mother’s payroll taxes by $40 a month or allows a business owner to save thousands in capital gains taxes and hire more employees, that tax cut is a good thing. Lower taxes allow more spending, saving, and investing which helps the economy — that means all of us.
Real conservatives have always supported low taxes and low spending.
But today, too many politicians and lobbyists are spending America into ruin. We are nine trillion dollars in debt as a nation. Our mounting government debt endangers the financial future of our children and grandchildren. If we don’t cut spending now, higher taxes and economic disaster will be in their future — and yours.
In addition, the Federal Reserve, our central bank, fosters runaway debt by increasing the money supply — making each dollar in your pocket worth less. The Fed is a private bank run by unelected officials who are not required to be open or accountable to “we the people.”
The Federal Reserve does hold a valuable place in our society. And adding money to a growing economy is important to ensure that all people have the opportunity of the American dream, not just an elite few who currently have the money. Policies that put the control of the federal reserve in the hands of congress are asking for financial disaster. If you need proof look at the abuse of tax dollar spending that Ron Paul has mentioned. We should not eliminate the Federal Reserve, and it should not be run by politicians.
Worse, our economy and our very independence as a nation is increasingly in the hands of foreign governments such as China and Saudi Arabia, because their central banks also finance our runaway spending.
This is a tough issue, because I firmly believe that the more the government stays out of economic issues issues, the better of our economy is. But the Financial control that other countries hold is a threat to national security. I Reluctantly support putting limits on the amount of control foreign governments have on our economy.
We cannot continue to allow private banks, wasteful agencies, lobbyists, corporations on welfare, and governments collecting foreign aid to dictate the size of our ballooning budget. We need a new method to prioritize our spending. It’s called the Constitution of the United States.
I agree that we need to return to the constitution when it comes to government spending. Which when it comes down to it includes federal law enforcement, providing for the common defense, establishing foreign trade agreements, keeping the post office viable, and in a stretch maintaining Interstates (Postal routes as the constitution said), and maintaining the copyright and patent office. I wonder if Ron Paul is willing to restrict the Federal Government to these areas.
Is Ron Paul willing to restrict the Federal Government to these areas? That sir is a good question, and can be answered by reviewing Ron Paul’s past voting record. You will find that he has a consistent voting record. Ron Paul always votes for lower taxes and less government spending. If you don’t believe me, then you can review his voting record any number of websites that track Congressional votes. Might I suggest the following link, where you can look up his entire voting record by year: http://www.aflcio.org/issues/legislativealert/votes/member.cfm?state=TX&pg=1
The point on the Federal Reserve is spot on, but I heard in a speech in July from Ron Paul on how the Fed Reserve should be dealt with and he said the government should print the money and the curtain should be lifted on the process behind the Reserve system. It should be eliminated and instead ran truly by the government. Essentially handing out interest free (small margin)loans. This is similar how a lot of people like to point out how Ron Paul wants to use the “gold standard” like we did before which is essentially true incorrect but fundamentally incorrect. The original gold standard was a disaster and prevented loaning that increased our economic power. But currently their are NO federal limits, and they can strain everyone’s pocketbooks at a whim.
We do need a reassurance of the backing of money and again place limits on what can be borrowed on debt unlike now, where bailouts occur. The idea that our economy should be run by an elite few who decide their cut behind closed doors should be ILLEGAL.
That the central bank of the US (the federal reserve) is privately owned is outrageous. This means that certain people in the private sector have foreknowledge about the nation’s money supply, and can therefore profit from buying or selling before an increase in monetary expansion of a cessation of it. The private, secretive nature of the federal effectively permits “INSIDER TRADING” on a massive scale.
Inflation: Inflation created by the federal reserve hits the lower and middle classes the hardest, because of the way inflation works. The people who get their hands on newly printed federal reserve notes are the big banks that sell government bonds to the Fed in what are called “Open Market Operations”. This is a group of 22 banks called the “primary dealers”.
Anyway, the people who get their hands on new cash first can use that cash before inflation has taken an effect on it. As that cash diffuses throughout the economy, inflation starts taking an effect, and the value of each dollar goes down. The banks get to use that cash before the inflation has taken an effect on the currency and brought the value of the dollar down..
Anyway, these banks get their hands on the newly printed
Oh and the privately owned federal reserve’s expenses are paid for by the revenues it receives from its cash-printing scheme, and the federal reserve is NEVER audited by Congress to see if these expenses are legitimate, so there is a lot of room for embezzlement and profiting from basically counter-feiting American currency.
“the more the government stays out of economic issues issues, the better of our economy is. But the Financial control that other countries hold is a threat to national security. I Reluctantly support putting limits on the amount of control foreign governments have on our economy.”
The government doesn’t need to get involved in economic issues and put limits (new regulations) in order to control the amount of control foreign government have on the economy, all it needs to do is stop borrowing money by issueing bonds that the governments buy. It is government spending that is creating the susceptibility to foreign control. Government needs to spend less and stop taking economic control out of the citizens’ hands.