Ron Paul's Economic Stimulus Plan

[Paulie]

http://www.ronpaul2008.com/Prosperity

Introduction

America became the greatest, most prosperous nation in human history through low taxes, limited government, personal freedom and a belief in sound money. We need to return to these principles so our economy can thrive again. When enacted, my plan will provide both short-term stimulus and lay the groundwork for long-term prosperity.

Other candidates talk a lot about stimulus packages, but my record stands alone. I have fought for these measures for years as a member of Congress and will make them a top priority as president.

Ron Paul, a 10-term Republican congressman from Texas's 14th District, is currently the ranking member of the House Financial Services Committee's Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. He has been named "Taxpayers' Best Friend" for 10 consecutive years by the National Taxpayers' Union. Ron Paul is also the author of several books on monetary policy and economics.

The Four-Point Plan

Tax Reform: Reduce the tax burden and eliminate taxes that punish investment and savings, including job-killing corporate taxes.

Spending Reform: Eliminate wasteful spending. Reduce overseas commitments. Freeze all non-defense, non-entitlement spending at current levels.

Monetary Policy Reform: Expand openness with the Federal Reserve and require the Fed to televise its meetings. Return value to our money.

Regulatory Reform: Repeal Sarbanes/Oxley regulations that push companies to seek capital outside of US markets. Stop restricting community banks from fostering local economic growth.

1. Tax Reform

Eliminate Taxes on Dividends and Savings. The basis of capitalism is savings, and Americans who do so should be rewarded.

Pass HJ Res. 23 to encourage savings over consumption.

Repeal the Death Tax. Attacking small businesses and breaking up family farms smothers growth and kills jobs.

Pass H.R. 2734 to make the Bush tax cuts permanent.

Cut Taxes for Working Seniors. Grandmothers and grandfathers working to make ends meet should keep all the fruits of their labor.

Pass H.R. 191 to amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of Social Security benefits.

Eliminate Taxes on Social Security Benefits. That money belongs to seniors, not the government. They paid into the system for a lifetime, and they should be free to spend every penny as they see fit.

Pass H.R. 192 to amend the Internal Revenue Code of 1986 to repeal the 1993 increase in taxes on Social Security benefits.

Accelerate Depreciation on Investment. We need to help companies grow and create jobs.

Pass H.R. 4995 and amend the Internal Revenue Code of 1986 to reduce corporate marginal income tax rates.


Eliminate Taxes on Capital Gains. Investment should be embraced and rewarded.

Pass H.J. Res 23 (The “Liberty Amendment”), proposing an amendment to the Constitution of the United States relative to abolishing personal income, estate, and gift taxes and prohibiting the United States Government from engaging in business in competition with its citizens.

Eliminate Taxes on Tips. The single parents and working students who earn their income chiefly through tips deserve to keep all of their money. This tax on "estimated income" is unfair and should be ended.

Pass H.R. 3664 to amend the Internal Revenue Code of 1986 to provide that tips shall not be subject to income or employment taxes.

Support Mortgage Cancelation Relief Act. Working families who lost their homes should not be punished a second time with a big IRS bill.

Pass H.R. 1876 to amend the Internal Revenue Code of 1986 to exclude from gross income of individual taxpayers discharges of indebtedness attributable to certain forgiven residential mortgage obligations.


2. Spending Reform

Reduce Overseas Military Commitments. Our bases and troops should be on our soil.
It's time to stop subsidizing our trading partners in Europe, Japan and South Korea.

Freeze Non-Defense, Non-Entitlement Spending at Current Levels

I vote against all bloated, pork laden spending bills and will veto them as president.

3. Monetary Policy Reform

Televise Federal Open Market Committee Meetings. An institution as powerful as the Federal Reserve deserves full public scrutiny.

Expand Transparency and Accountability at the Federal Reserve

Pass H.R. 2754 to require the Board of Governors of the Federal Reserve System to continue to make available to the public on a weekly basis information on the measure of the M3 monetary aggregate and its components.

Return Value to Our Money. Legalize gold and silver as a competing currency.

Level the long-term boom and bust business cycle by passing H.R. 4683, which would repeal provisions of the federal criminal code relating to issuance coins of gold, silver, or other metal for use as current money and making or possessing likenesses of such coins.

4. Regulatory Reform

Repeal Sarbanes/Oxley. It has seriously wounded our capital markets and helped make the UK the financial center at our expense.

Ending these misguided regulations would bring jobs flooding back to the United States

Pass H.R. 1049 to reform Sarbanes-Oxley and reduce the burden it places on small businesses.


Repeal or Remove Costly and Unnecessary Federal Regulations. Neighbors know best how to help their neighbors.

We need to make it easier for community banks, credit unions, and other financial institutions to better serve their communities and to help people in these communities get access to credit and capital.

Pass H.R. 1869 to enhance the ability of community banks to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes.

Now how's THAT for Conservative Republican. Before anyone jumps down my throat about "gold standards" and such, his Monetary Policy is not about bringing back the gold standard, in regards to the way it was. He merely would like to see competition to the Fed's irresponsible fiat monetary system. You'd still be free to use your paper dollars if you so chose.

I'm not just partial to this because RP is my candidate. I'm partial to this because this is CONSERVATIVE. This is so much better then printing or borrowing $150 billion dollars, DOUBLING last year's budget deficit, and giving it to irresponsible consumers...what amounts to a band-aid on a broken arm.

 

[Bern80]

If he can find I way to run even as an independant I would vote for him. As a conservartive I just got but help go BLLAAARRRGH at the current Republican front runners.

 

[Paulie]

If he can find I way to run even as an independant I would vote for him. As a conservartive I just got but help go BLLAAARRRGH at the current Republican front runners.

You're ok with his foreign policy? I thought you were a little more pro-Iraq War, no?

 

[glockmail]

He's a kook, he doesn't stand a chance; don't waste your vote on him.

 

[Bern80]

You're ok with his foreign policy? I thought you were a little more pro-Iraq War, no?

I waiver back and forth on Iraq a bit. I see the potential if we accomplish our goal. But at the same time it's looking more and more to simply not be worth the effort.

 

[pegwinn]

Now how's THAT for Conservative Republican. Before anyone jumps down my throat about "gold standards" and such, his Monetary Policy is not about bringing back the gold standard, in regards to the way it was. He merely would like to see competition to the Fed's irresponsible fiat monetary system. You'd still be free to use your paper dollars if you so chose.

I'm not just partial to this because RP is my candidate. I'm partial to this because this is CONSERVATIVE. This is so much better then printing or borrowing $150 billion dollars, DOUBLING last year's budget deficit, and giving it to irresponsible consumers...what amounts to a band-aid on a broken arm.

Nothing wrong with a gold standard. Problem is that we would have to reduce the monetary supply drastically. For now I can work with the above, but would like to see a hard money standard adopted.

He's a kook, he doesn't stand a chance; don't waste your vote on him.

Romney is Bill Clinton Lite, Huckabee is a zealot, McCain is an honorable man who has forgotten how to be a Republican. Better a sincere Kook than a faux statesman.

I waiver back and forth on Iraq a bit. I see the potential if we accomplish our goal. But at the same time it's looking more and more to simply not be worth the effort.

Been there done that. It is time to leave and the Iraqis will stand and deliver or die in place. Our military mission is completed.

 

[ronpaul2008]

Yes! Dr. Ron Paul is the only candidate to have written books on monetary policy and economics! The only candidate who can debate these policies not recite lines, but debate. Speaking of reciting lines notice how Bush and all the other candidates/politicians were pushing for a 100-150 billion temporary stimulous package to reduce taxes and let socialism of its reins a tiny bit and let capitalism propel us to wealth again? They would recite how this number was the perfect amount, never stopping to argue the logic behind this policy or the logic behind their conclusions why this was good. I have one question for all these politicans. If reducing government taxes will make the economy and our citizens better off, why not make it permanent?

Yet RP gets called a 'kook'. This is just because his views are in opposition to government interests hence his views are in opposition to the federal reserve and other government funded people. We cannot trust even university economists since most are indirectly funded by the government. Sure there are lots of economists at these schools who still support the classic American (Austrian economic) viewpoint, but they are funded by the government which means there will be subtle pressures to direct things certain ways. If the system is rigged, humans desire to be successful so will compromise their positions. Even Greenspan and Bernake both shared Pauls views until they sold out for power. Who should be in charge, are the people to tell the government which is the right way, or is the government suposed to teach us the 'right way' in 'education' systems starting at the age of 5?

Many people seem think Ron Paul is so radical his policies would change things, in the way a left leaning government would change things, ie very drastically and could turn out very very badly. Things would change, but for the better. There would be no chaos. Any lite shock felt by implementing Pauls economic package would be akin to the shock felt by Russia when it abandoned communism, but on a much smaller scale. Better to experience it on a minor scale now the more we delay the inevitable the harder it will be. Right now with our power and the instant boost we would gain by implementing these policies would propel us to such heights that humanity would look at this period as a semi dark ages where progress was needlessly halted due to big government wasting our time and energy forcing incorrect ideas onto the public.

How many times is an average chunk of money taxed? The corporation pays taxes before they can pay the salary, the individual is taxed again(and again and again) by all the income taxes, when they spend it on a product they pay sales tax, possibly another hidden special tax on the product, the vendor has to pay taxes for his profit, and his vendor does as well, and then maybe the farmer who grew the product, and then his suppliers and on and on. This Economic Stimulus Plan is exactly what America needs. We would see technology in our lifetimes that under current policies our grandchildren would not see until the next century.

 

[glockmail]

..

Romney is Bill Clinton Lite, Huckabee is a zealot, McCain is an honorable man who has forgotten how to be a Republican. Better a sincere Kook than a faux statesman.
....

Any of the first three has a chance to win; the fourth does not. Better Clinton lite than Clinton extra-heavy.

I'll be holding my nose in the voting booth this year. I may even wear a clothes pin on my nose at the polls.

 

[Paulie]

Any of the first three has a chance to win; the fourth does not. Better Clinton lite than Clinton extra-heavy.

I'll be holding my nose in the voting booth this year. I may even wear a clothes pin on my nose at the polls.

Hold your nose and vote for someone you don't even like just because they "have a chance to win"..

I say you deserve what you get then.

 

[glockmail]

Hold your nose and vote for someone you don't even like just because they "have a chance to win"..

I say you deserve what you get then.

I see that you failed at reading comprehension.