On Monday, October 17th Republican Presidential candidate Ron Paul released his “Plan to Restore America”. The plan outlined some bold objectives for his first term in office if elected including $1 trillion in cuts the first year and a balanced federal budget by year 3. Dr. Paul does this all without raising any taxes. In fact, he lowers and eliminates some! The plan calls in a reduction of corporate tax to 15%, and the elimination of capital gains tax, the “death tax”, and taxes on personal savings accounts, while extending the Bush tax cuts.
In order to achieve the massive spending cut, the government workforce will be reduced by 10% through attrition and the Departments of Energy, Commerce, Interior, Education, and Housing and Urban Development would all be eliminated with certain functions moving to remaining departments. The plan will end the wars and cut all of that funding, while maintaining Defense spending and cutting all foreign aid. It will cap all Federal Government spending at 2006 levels as well as abolish the TSA and turn those security duties over to the private sector.
To foster an environment in which the economy can recover and jobs can be created Dr. Paul would eliminate legislation such as ObamaCare, Dodd-Frank, and Sorbanes-Oxley. A full audit of the Federal Reserve would also be conducted. Which no doubt will lead to the elimination of the Fed entirely once the corruption is fully brought to light.
This is exactly the type of plan we need. It provides real spending cuts and a balanced budget without further crippling the economy with taxes.
No one else in the Republican field has put forth such a plan. Herman Cain’s plan “999” is simple, but dangerous and does not address the real issue – spending. The government does not have a revenue problem. It has a spending problem. Cain’s plan would wipe out the current tax code in favor of a 9% corporate tax, and 9% personal income tax, and a 9% national sales tax. This is great news for the companies, but no so great for the people. “999” does not allow deductions. It has been shown that many in the middle class would be paying more taxes than they currently are. The addition of a national sales tax is disastrous, just as the introduction of the income tax was. A 9% rate today could easily be a 15% or 20% rate or more in the future. The government is an addict. It is time for the citizens to hold an intervention. We cannot allow another avenue for government thievery.
Mitt Romney’s plan is also severely flawed. In the way of spending cuts, all it does is seek to cap government spending at 20% of Gross Domestic Product (GDP), and to cut 5% from non-security discretionary spending which equates to a cut of around $20 billion. $20 billion in cuts is an insult. Currently our government faces an annual deficit of approximately $1.5 trillion. Cutting $20 billion is no more than a wholly insufficient gesture. By itself it may sound significant, but once put into prospective we see plainly that this is not the case. Aside from the nearly non-existent cut in Romney’s plan, let us consider his proposed 20% GDP cap.
By seeking only a 20% cap, Romney is admitting that he disagrees with the Founder’s view of the role of government and prefers it in its current bloated state. If the government were doing only what the Constitution authorizes there would be no reason for spending anywhere near 20% of GDP. Additionally, GDP is not a fixed value. It changes with the condition of the economy, meaning that when the economy is doing well, the government can spend more within that 20% cap. The 20% cap if anything should be a limit, not a goal for the government to meet.
Ron Paul is the only candidate who has presented a plan that makes the significant real spending cuts that are essential to an American recovery. He is the only candidate who will end the unconstitutional militarism of the United States Empire. He is the only candidate with an understanding of the problem. He has been playing the part of Cassandra for more than 30 years and now as our economy burns like ancient Troy, he is the only one who can put out the blaze.
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