Economic stimulus package for U.S. economy

[Dre L]

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.





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, bolstering our economy.

It's time to stop subsidizing our business competitors 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 Comm

 

[Travis Munday]

Probably work as well as the 2001 tax returns did...oh, wait, that didn't work either.

 

[David Griffith 2]

Here's the update..

 

[Dre L]

I see neither of you read the posted article, this is not the package proposed by Bush.

 

[David Griffith 2]

Your right... I scanned.. looked like the same thing.. my bad..

 

[Travis Munday]

I read it, and it reads more like a "vote for me" speech then a viable solution to recession.

 

[Dre L]

lol, what do you expect, it is a vote for me speech. However it is the only plan I've seen any candidate come up with, and the only plan by a subject matter expert.



Not to mention someone who hasn't bankrupted his own campaign fund.

 

[Kevin Lang]

No overseas bases seems too isolationist. If we needed to mobilize, not only would it take longer, but where would the base of operations be? Ground essentially rented from other countries? Aircraft carriers?



Someone is always needed on the ground.



To me, this seems like a subtle way to gain votes for taking out bases where "controversial" activities take place, such as the "horrendous" base in iraq and gitmo. The movement doesn't make sense from a tactical standpoint, so I wonder.



Gold coins? So we would allow anyone to strike up coins of gold and use them? Doesn't that defy the authority of the Fed? There is no "currency market" inside the us, so why do we need "competition currency"? Legalizing the ability to exchange fiat money for gold would be a good thing, but that is not what this proposes. It says that laws will be amended by House Resolution 4683 to allow Anyone to mint, possess, and subsequently spend gold currency, which would have no regulations, and take us back to what seems to be medieval currency.



The Euro is not solid gold, and it is beating us badly. Even the Canadian dollar isn't gold and it is killing us....in fact, it is _purple_ and still presiding. Gold isn't going to change anything, especially when that gold is unregulated.



(I don't like government regulations, but Andrew Jackson was wrong--we need federal currency control)



I agree with Tiger--this seems like another way for 'Ru' Paul to try and gain votes.



(EDITther than the points I ranted about, most everything else seems to be a good idea)

 

[keith wallace01ST]

trust me up in canada we need the dollar to be 92 cent nott 99 like it is today ... For me i hope it get to be 1.10 for when i order part next week lololo

 

[Dre L]

Considering that the U.S. would have a policy of not getting involved in foreign affairs, why would we need overseas bases? I feel safer with the troops here or offshore at sea than with them scattered around the world. That doesn't mean isolationism, just that we're not going to be over there. However, he is the first to say that if there is a reason to go to war we would. Ron Paul voted for war in Afghanistan and funding, but later said he felt the powers and funds were abused and misused.



The idea of competing funds would be fine. If someone prefers to do business with gold that's their concern. However why bother lugging around $1,000,000 in gold when you can have some nice lightweight notes of paper that are guaranteed legal tender equivalent to $1,000,000 in gold? Here are your notes, exchange them for an equivalent in gold at your leisure. I think he's right to audit Fort Knox, if we don't need the gold, then why is it locked up and unaccounted?



Ron Paul came in 2nd place at the LA caucus, and since they screwed up he may have actually won the caucus, so I guess there are enough crackpots out there that agree with Ron Paul and he's gaining momentum. I know this much, he's never waffled on his positions.



But what really bothers me is why is he hidden? Why has the mainstream media absolutely refused to even post pictures of him for so long? The republican party does not even want to acknowledge him. There is something wrong when the "free elections" of this nation are skewed so much by the media. This is no better than a dictatorship where the ruling parties force their candidate on the people.



"His {Ron Paul} supporters are the equivalent of crabgrass," says G.O.P. consultant Frank Luntz. "It's not the grass you want, and it spreads faster than the real stuff. They just like him because he's the most anti-Establishment of all the candidates, the most likely to look at the camera during the debates and say, 'Hey, Washington, f--- you.'" -From Time Magazine.



This statement by the GOP clearly reflects how they view things. It declares them as "the establishment" and then refers to many respectable Americans supporting Ron Paul as "crabgrass". I mean I've never seen Republican Ron Paul giving the finger on national television, or cursing someone out on national television, I've seen other famous Republicans doing so but not this gentleman. I'd like to see that footage though, I think he deserves to give some people the finger.

 

[Kevin Lang]

Your quote from the campaign speech does not say that one could exchange paper money for gold.



It says that it would no longer be a crime for anyone to make or use gold currency for commerce. So we would have thousands of people creating their own currency, and we would have to worry about the exchange rate of gold, whether or not the whole coin was pure gold, people stealing gold from the coins, and what is printed on the coins.



Sounds medieval to me. This is one aspect of those feudalistic days which doe Not have nostalgic appeal.





Keith, green paper with dead white guys will Always be worth more than your rainbow-colored Monopoly money, even if it is in spirit. When the CAD goes back down to 60 American cents, I'll be sure to remind you of it. Remember that just last May the CAD was only worth 90 American cents. Gloat while you can, because in this mercurial market we're the King more often than not.

 

[Timmy-The-Ute]

I don't need any hand-out from this congress, why increase the deficit and make the dollar even more worthless. :angry:

 

[Ryan Schaecher]

It took two lines and I knew it was the typical dribble from Ron Paul. I like some of the ideas, but the guy is way too far out in space to be a viable President. His enderstanding of defense and economic issues are right there with K-Fed's.



Paul is hiding a few things.... When he says that he has never supported a prok project, he's misleading at best. He has requested, usually under the table like everyone else, that pet projects in his district get funded. They get inserted into the spending bill, then he votes against passage. The bill passes anyway. His projects are funded, but he "voted against pork".... right.



You want an Economic Stimulus package? Here's my 4-Point plan:



1) Tax Reform

- Flat sales tax.

--A (1) time sales tax on all purchased items, including Homes, Cars and other large ticket items. A flat 20% on EVERY consumer purchase. There is no need for a "prebate" system as there are (4) exemptions to this 20% rule:

---1) Precription Drugs - 0% tax on all precription drugs

---2) WIC Qualified Foods - 0% tax on all WIC foods for EVERYONE

---3) Un-prepared Foods - 7% tax on all raw/unprepared foods, including meat, potatoes, rice, pasta, etc. Exceptions are prepared foods like Stoufer's Lasagna... 20% sorry. If you have to actually do something other than heat it, it's 7%. Has the added benefit of fighting obseity.

---4) Energy. Gas, diesel, electricity. 13% tax.

--There are no rebates or I-O-U's to the IRS. There isn't any "tax cuts for the rich" as all people pay the same rate. The "poor" are helped by the food breaks. If you can afford 22" spinners on your Escalade, you can buy you own damn food.



2) Spending Reform

- There Points:

--1) Line Item Veto.... 'nuff said

--2) "Common Defense" - Military, crime, etc funding comes first.

--3) Live within the Budget. Duh. If I have to, you have to. If it's not there, it doesn't get spent. That includes natural disasters, so you better save some for the "rainy day". The exception is time of war.... and that goes back to #2.



3) Energy

- (3) Points

--1) Encourage Nuclear energy though incentives to utilities, reduce over-burdensome environmental regulations

--2) Allow drilling in ANWR and off-shore or anywhere else hydrocarbons are located. Two benefits:

---a) Near Instant drop in oil prices... there for lower gas prices and more money for the consumer

---b) Infusion of cash and capital spending by energy companies

--3) Keep the UN and "green energy" policies out of our Energy reserves



4) The Border

-Immedately release all funds for building a double fence the entire length of the southern and northern borders. No virtual fence, an actual one.

-Immediately increase funding for the Border Patrol

-Begin deportation of all 12 million illegals. If arrested or pulled-over, they are held, processed and deported.

-Immedately remove all federal funds from cities, counties and/or states that are "sanctuary" cities



5) BONUS!! Military

- Immediately increase spending

- Negotiate long-term contracts for goods and services

- Review all current contracts for wasteful spending/pork

- Bring the military back to near Cold War era levels

- Begin immediate program to replace all worn-out equipment such as fighter jets, HMMV's, firearms, etc.

- Immediate pay raises for all military personel

- Immediately removing all Federal funds from colleges and universities that do not allow recruiters on campus. This includes all scholarships and loans.

- Immediately cut federal funding from cities, counties and/or states that are overtly hostile to the presence of the United States Military. This may involve closing and moving bases.

- Encourage recruitment through higher incentives

- Disallow live reporting from imbedded reporters.

- Remove imbed credentials from journalists who subvert the US mission with incor

 

[Kevin Lang]

20% sales tax is outrageous. 20% to the Coffers of the Federal Government, plus 6% state sales tax? That increases the item's cost by 1/4th!



If you add that on top of income tax, property tax, and whatever-else tax, you'd better increase your "personal" defense funding, as I'll be assassinating you. That's a promise.



13% gas tax? Why 13%? Why not 0%? The states tax gasoline already, there is No Need for the federal government to do so as well.



Screw the UN--if we withdraw, it could easily fail. The League of Nations failed because the US did not, thankfully, join. The UN shouldn't even be in New York. Send them to the hauge or some other place that wants them. Only 3% of americans know the president of the UN's name.



Now why the heck would you want to sell our surplus equipment to foreign countries? The Russians essentially do that, and every enemy to the US has an AK47. Would you like them to have M16s and superior electronics as well? I didn't think so.



Can any city and state be hostile to the presence of the Military? Wouldn't that be counterproductive? What could they use for defense then? Militia? The only state I can think of that could do something that asinine is California, but if the San Andreas fault were to send CA crashing into Asia, the US wouldn't miss it. Send those Self-Hating Americans over to China where they seem to want to be. And take out a large portion of China while we're at it. Sorry Japan, but you're going out too. We're tired of Rice on the Roads anyhow.

**Other than that, the military list is spot-on. We would have won vietnam if not for biased reporters, and it has just been downhill from there. It was better when live reporting was not technologically feasible.



I'm surprised that you didn't want Military Service to be Mandatory for Citizenship. Can't vote unless you served time. Or make 3-5 years of service a requirement to retain citizenship, a la Israel. That could almost make sense, as you don't actually do anything to become an American citizen, except be born here, and you need to earn it somehow. Especially if you can't pass the citizenship test, which we should still have to take. Fail the test, and it's Boot Camp or Oh Canada.



**There are mixed feelings about military recruiters, as the recruiters themselves are all a$$hats who try to con you into signing without full understanding. They're worse than the police and the infamous "ticket quota".



Though such reforms are not likely to happen....which is why America will not make it to 100 presidents.



For a more feasible reform, how about this? No lobbyists, no bill riders, no elastic clauses, set-in-stone duration and purpose of federal money, no re-election foolishness, a 6 year term, and for extra measure, your coveted line veto.



Oh, and far lesser Federal taxes.



Sounds good to me...but it could never happen. Only it did, in the Confederate States of America. We just chose not to integrate their superior methods into our own bloated system after the War because that would inconvenience those with power and influence who hold sway through lobbying.

 

[Johnny O]

20% sales tax is outrageous. 20% to the Coffers of the Federal Government, plus 6% state sales tax? That increases the item's cost by 1/4th!

However, you would not be paying a Federal income tax or FICA tax any more.

The states tax gasoline already, there is No Need for the federal government to do so as well.

Federal highway funding. That said, for the past 20 years or so the Federal govt has NOT been spending all of the gas tax money it collects on actually fixing roads and instead they keep the money in the bank so that the deficit looks smaller.

 

[Kevin Lang]

He didn't say that he would repeal income tax. No one ever will



The fair tax system is a good idea, though only on paper, as the intital tax rate will be high in itself, but all these rider taxes will be appended.



Fair Tax is similar to value added tax, and that was no fun in CAN.



In forcing everyone to pay their "fair share", the "fair" tax hurts the guys who don't have taxes which will be repealed. For all the high school/college students, the money they earn wouldn't be enough to do anything, as their income is just being syphoned--there is no "fair" dispensation via less taxation elsewhere.



The tax is _supposed_ to hit the illegal immigrants this way, but I think that the fallout effects on our own citizens is too great. The tax won't be "fair" in the first place--those who evade taxes will still find their ways.





Federal Highway Funds suck. The states shouldn't have to pay for any interstate maintenence, by definition, so they should not need to receive fundage. The funds have only been used historically to strong-arm states into voting the way the Federal Govt wants, which is a largely bad idea. The Drinking Age of 21, for instance. No state _needs_ to have it, the only stipulation for not having 21 is that they won't get federal highway fundage.



(but if they dropped drinking to 18, they'd be a monopoly and could collect all of their interstate funds through liquor taxes)



Heck, Ontario--the 51st state as someone here said--had to raise the drinking age to 19 to keep the hordes of dry Americans out.



If the Federal Govt wants interstates, they should maintain them, instead of relegating states into their dirty work. I'm sure they have the fundage to do so, without having to tax gasoline. Perhaps if they changed their system to self-responsibility, they wouldn't have to waste money on appeasement interstates, like *in Hawaii*!!



Gas is becoming "scarce" in the market, and everyone _claims_ that we will run out in the semi-near future, so we should use it while we have it, instead of jacking up the price to try and conserve a doomed commodity. Use it while it's here--make hay while the sun shines.



3 bucks for gas watered down with corn starch. That is far more than anyone should have to pay for a rip-off product. You don't pay premiums for watered down booze, why should our ride's drink of choice be any different?

 

[keith wallace01ST]

Kevin



I here ya but we pay %5 gst and we pay 4.15 a galon and we make the crap in our back yard figure this one out why do we pay 4.15 a gal when we shipp it further and you guys pay 383 a gal





Kevin you need to have another beer buddy you worry to much I learned along time ago that rant and raving about dont get any thing done :lol::lol: The only thing it dose is get a good laugh on these sites

:lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol:





You make allot of sence but next time you fail your "citzen test come on up we need some labours "oh canada ".... then i will give you somr good canadian beer and a stake lolololololol



I love ya bro it is great to see you rant it is good humor

 

[Ryan Schaecher]

I was assuming the Income Tax would be repealed as well as all state, county and city income taxes.



It would not raise taxes by 1/4.... it would actually reduce your income tax once you take Medicare and Social (in)Security taxes into play as well. All gone. It comes out of the sales tax.



Once you also realize how much income tax is embedded into the cost of every product you buy, your expenses would also go down. If you eliminate the "corporate" income tax (especially since absolutely no business pays income tax) prices better come down.



Some states there is as much as $.469 direct total tax on Gas. at $3.00/gallon, that's 15.6% tax. A flat 13% tax would be $.39/gallon. Better off? Yep. On a fill-up for a Sport Trac at 19 Gallons, that's a $1.50 savings per refill.



Course gas should be around $1.90 or so... so then the savings becomes VERY appearant....

 

[Thomas Rogers]

R Shek said:

Especially since absolutely no business pays income tax.

Hey I resent that! ...I just sent my corporate income tax to the IRS and to PA Dept of Rev; $10.03 and $7 respectively.



It was a light year. Only about $29K in total revenue (it's a side business).



Yes, I agree though, most corps run at little or no profit, therefore they pay little or no income tax.



TJR

 

[Tom Schindler]

TJR,



What RShek actually said is that NO corporation pays a penny in tax's. Those tax's are embeded into the cost that the end consumer pays, therefore, we, as the consumer, are the one that pays the tax's.



Those that are against the fair tax have no idea how it actually works.





Tom