Overview of Ron Paul's Plan to Restore America

[Extracts of Ron Paul's policies are from here]

SPENDING:

Cuts $1 trillion in spending during the first year of Ron Paul’s presidency, eliminating five cabinet departments (Energy, HUD, Commerce, Interior, and Education), abolishing the Transportation Security Administration and returning responsibility for security to private property owners, abolishing corporate subsidies, stopping foreign aid, ending foreign wars, and returning most other spending to 2006 levels.



Note: Please keep in mind that States can easily handle their own energy, education, commerce, land and housing plans (This plan is cutting out Federal Government NOT State Government and in many cases ONLY to 2006 levels!).

You solve the fairness by increasing property rights and individual rights (as opposed to group rights)...



If every individual has equal rights how could the land not get taken care of by the people?)


Ron Paul and Robert Reich On Larry King



Approx 3 min - Robert Reich, the bailing out the banks is a version of trickle down economics and it doesn't work (with the credit crunch that followed, this is true. If banks had started helping the consumers rather than stopping loans when they had made a huge profit on the money creation process through loans then this would have worked. But they didn't. They made a huge profit off assets that never existed, kept all the extra money that was made over the money created through the loans and sat on it. The fact that the money just went to the banks and its top employees proves that this actually was trickle down economics AND corruption in action)

At 4 mins: When no one is spending, the government is the spender of the last resort. In the Tarp plan there was no outflow and spending ended, thus a 'stimulus' was needed. Then, it turns out, the stimulus wasn't set up with infrastructure building or economic growth in mind, even the financial crisis of 2008 wasn't dealt with.

Ron Paul: Even manufacturing bombs can increase the GDP (True. Tiny companies can make huge profits making a countries economic growth positive even while its poverty rate and income inequality rate increases). The stimulus mostly helped Wall Street.

Ron Paul-Approx 6:30 - I want to bring money from abroad and let it flow here (in America)

Reich - 7 min 45 sec - "I wish I could be as optimistic as Ron Paul as the capacity of the country to just pull money out of national defense and bring it home and give it to consumers as tax breaks; it all sounds good but, I tell ya, I dont know too many Republicans who want to take money out of national defense"

Reich - It took the second world war to show everybody Keynesian was right. you gotta spend, and if you gotta go into debt to get people back to work that's better than not doing it.

My Take: Robert Reich admits bringing back troops would take care of the budget problem. I agree in principle with Reich on properly applied Keynesian economics to boost economic growth and stabilizing the job market (Ron Paul might say I have been trained by FED economists and he would be right as far as at least one of my past professors goes). However, I would like to point out that the Obama Administration applied basic economics ideas of macro-economics so badly that it screams corruption, at least, in a third world country. The occupy wall street movement might suggest that this view is shared by many in America as well.


ENTITLEMENTS:

Honors our promise to our seniors and veterans, while allowing young workers to opt out. Block grants Medicaid and other welfare programs to allow States the flexibility and ingenuity they need to solve their own unique problems without harming those currently relying on the programs.



Note: Seniors are safe. There are still 3 branches of Government so if America's current social structure can't provide for it's elderly the States will find a solution and Federal assistance can be extended through the Congress till the States can take over. i.e. social safety nets will remain intact providing stability.


At 2min 30secs Ron Paul says church's etc couldn't handle the extra burden of healthcare because government has run up the costs.


CUTTING GOVERNMENT WASTE:

Makes a 10% reduction in the federal workforce, slashes Congressional pay and perks, and curbs excessive federal travel. To stand with the American People, President Paul will take a salary of $39,336, approximately equal to the median personal income of the American worker.





TAXES:

Lowers the corporate tax rate to 15%, making America competitive in the global market. Allows American companies to repatriate capital without additional taxation, spurring trillions in new investment. Extends all Bush tax cuts. Abolishes the Death Tax. Ends taxes on personal savings, allowing families to build a nest egg.

Note: Closing corporate loopholes will actually increase revenue from corporations. Allowing capital to return could rebuild America's crumbling manufacturing sector and extending the Bush tax cuts won't matter if all bases and troops are withdrawn(also see Reich above)...


(900 bases 150 different countries - We have enough weapons to destroy world 25 times)


REGULATION:

Repeals ObamaCare, Dodd-Frank, and Sarbanes-Oxley. Mandates REINS-style requirements for thorough congressional review and authorization before implementing any new regulations issued by bureaucrats. President Paul will also cancel all onerous regulations previously issued by Executive Order.


and



MONETARY POLICY:

Conducts a full audit of the Federal Reserve and implements competing currency legislation to strengthen the dollar and stabilize inflation.

Having competing currency legislation would bring commodity based money to the market. As it is, the FED is privately owned (which I have been opposed to because of  'conflict of interest' for a long time), this will make them have to compete. As it is, bank monopolies have the same problems as media monopolies.

Ron Paul At The Bloomberg-Washingtong Post Debate on Federal Reserve Audit vs Herman Cain




1. The FED gave out trillions without any authorization (since this is not commodity backed money the only way to make all these bailouts was to print money - increasing the supply of money decreases its store of value and therefore its stability)

2. Herman Cain flip flops on what he said about the FED audit

3. Cain's solution is to follow the model of Alan Greenspan, a sample of his policies are outlined here.


Ron Paul - Federal Reserve and "End Overseas Empire" and War on Drugs



3 minutes 40 secs - My policy won't work unless you cut spending such as the one trillion dollars in the maintenance of our overseas empire, you can't keep printing money (i.e. increasing supply of money reduces its value, one of the reasons precious metals, such as gold and silver, keep their value is that they are limited in supply.)