Ron Paul Plan: $1T cut, kill 5 departments, & presidential pay = $39K

[rambone]

Ron Paul is issuing a bold new plan to get the Federal budget balanced in his 1st term.

His 1,000,000,000,000 - 5 - 39,336 Plan will:

• zero foreign aid
• eliminate 5 cabinet level departments (Energy, Education...)
• bring the troops home
• eliminate capital gains taxes
• eliminate dividend taxes
• allows young people to opt out of Social Security
• slash the budget of the FDA, EPA, others
• extend "Bush" tax cuts
• reduce corporate taxes
• allow overseas capital to be repatriated without penalty
• symbolically cut presidential salary to median income of $39,336

Ron Paul to propose $1T in specific budget cuts

Ron Paul’s opinions about cutting the budget are well-known, but on Monday, he’ll get specific: the Texas congressman will lay out a budget blueprint for deep and far-reaching cuts to federal spending, including the elimination of five cabinet-level departments and the drawdown of American troops fighting overseas.

There will even be a symbolic readjustment of the president’s own salary to put it in line with the average American salary.

During an afternoon speech in Las Vegas ahead of Tuesday’s debate, Paul will say that his plan for $1 trillion in cuts will create a balanced federal budget by the third year of his presidency.

​

 

[GBuck]

 

[hooky]

Lots of his tax reform ideas are like the 999 plan without going quite as far.

 

[rambone]

Lots of his tax reform ideas are like the 999 plan without going quite as far.

I see 9-9-9 as a risky plan without enough budget cuts. I'm not interested in a plan that attempts to sustain Fedzilla's gluttonous spending habits.

Paul's plan cuts existing taxes and goes way further in cutting the beast down to size.

 

[Oliver]

What is the sybolism of his proposed salary? Is that the American average income?

 

[schapm]

What is the sybolism of his proposed salary? Is that the American average income?

Yes. It is the median.

 

[Chefcook]

Ron Paul 2012 Official Campaign Website

 

[gunowner930]

I like it better than 9-9-9

 

[turnandshoot4]

I have some questions:

Who will stop the corporate farmer from putting 10x as much fertilizer on the ground as they are supposed to if there is no EPA? It will ruin the ground water supply for everyone. The EPA protects me FROM these corporations and their greed. I don't have a team of corporate lawyers to fight them in court.

Why eliminate capital gains taxes? They are already taxed less than income you EARN. Furthmore I will make pennies on my stocks compared to a Warren Buffet who doesn't EARN any of his money. Rather he invests and gets taxed less than me.

I am having difficulty finding out what other agencies he would cut. If the DEA, CIA, and ATF aren't three of them then why cut? Board of Education and the EPA really aren't doing us the most harm. Would the states run their own version of the BoE and EPA?

allow overseas capital to be repatriated without penalty

Why in the world would we do this? For every 1 manufacturing job many service jobs are created. If we continue to send our maunfacturing overseas what will we have? A bunch of service jobs serving those making money overseas. NAFTA IS a failure. GM and Ford are making cars and trucks in Canada because it is cheaper (AHEM, SOCIALIZED MEDICINE). I refuse to drive a GM because under all of those hoods I see hecho en Mexico. Free trade will never work unless we are trading with those that have the same quality of life. People used to MAKE things here. Sure things were more expensive, but people took better care of their stuff and it was made with higher quality. I will gladly watch consumerism die a slow death as people pay $1500 for a quality American made stove, $4000 for a quality American made television and $35,000 for a quality American made car.

What free trade is right now is modern day slavery.

 

[Prometheus]

First it is important to note that just because the departments will be eliminated, doesn't mean all they do will be. Some provisions of those departments will be rolled into other departments.

I have some questions:

Who will stop the corporate farmer from putting 10x as much fertilizer on the ground as they are supposed to if there is no EPA? It will ruin the ground water supply for everyone. The EPA protects me FROM these corporations and their greed. I don't have a team of corporate lawyers to fight them in court.

EPA generally handles red tape and crap. This function would be rolled over into DOJ I think. I don't recall, there are many specifics to this plan on his full release going up on his website.

Board of Education and the EPA really aren't doing us the most harm. Would the states run their own version of the BoE and EPA?

Prior to the Dept of Education in the 60's we were #1 in schools in the world. Post dept of ed we aren't even in the top 20. I love Pauls idea to let the States handle education.

What free trade is right now is modern day slavery.

I couldn't agree more with that assessment.

 

[88GT]

I have some questions:

Who will stop the corporate farmer from putting 10x as much fertilizer on the ground as they are supposed to if there is no EPA? It will ruin the ground water supply for everyone. The EPA protects me FROM these corporations and their greed. I don't have a team of corporate lawyers to fight them in court.

Federal legislation isn't going to be repealed. It just won't be enforced by a governmental agency with no over-sight or control. And most states have some form of legislation governing the usage of fertilizers, water quality, etc.

Why eliminate capital gains taxes? They are already taxed less than income you EARN. Furthmore I will make pennies on my stocks compared to a Warren Buffet who doesn't EARN any of his money. Rather he invests and gets taxed less than me.

Because the capital gains taxes cover anything not earned through a W2. I find it ignorant and somewhat offensive (if I were to get upset over that kind of thing) that you think what I do to earn my non-wage income isn't working for it. Not to mention that taxes are just economy killers.

I am having difficulty finding out what other agencies he would cut. If the DEA, CIA, and ATF aren't three of them then why cut? Board of Education and the EPA really aren't doing us the most harm. Would the states run their own version of the BoE and EPA?

Most of them are unnecessary and do more harm than good in the big picture. They are at best redundant and inefficient and at worst bloated freedom-eaters. Nothing they do (or are supposed to do) can't be reproduced better, more efficiently, and for less cost at the state level.

allow overseas capital to be repatriated without penalty

Why in the world would we do this? For every 1 manufacturing job many service jobs are created. If we continue to send our maunfacturing overseas what will we have? A bunch of service jobs serving those making money overseas. NAFTA IS a failure. GM and Ford are making cars and trucks in Canada because it is cheaper (AHEM, SOCIALIZED MEDICINE). I refuse to drive a GM because under all of those hoods I see hecho en Mexico. Free trade will never work unless we are trading with those that have the same quality of life. People used to MAKE things here. Sure things were more expensive, but people took better care of their stuff and it was made with higher quality. I will gladly watch consumerism die a slow death as people pay $1500 for a quality American made stove, $4000 for a quality American made television and $35,000 for a quality American made car.

Because capital is the lifeblood of any economy. It is the fuel for growth and growth is what keeps an economy healthy.

What free trade is right now is modern day slavery.

We don't have free trade because both sides aren't playing by the same set of rules.

Responding to the OP topic: I mentioned this on FB and nobody seems to know. What does it take to eliminate a cabinet department? Is EO enough? And for departments with pervasive extensions into society such as HUD with the FHA loans, how does their elimination--assuming for the sake of argument that it can and does happen--affect those programs? Someone isn't thinking this all the way through.

Where Paul goes wrong is thinking that Americans are more interested in the big picture than their personal wallet. Opt-out of SS sounds nice but since the current recipients are funded through contemporary pay-ins, nobody is going to want to double-dip their paycheck to pay for two retirement funds when they'll only get one. Not that I don't dream of an opt-out, but it's not realistic unless other things are done. And speaking of those other things, no one relying on SS is going to support this.

Paul should quit while he is ahead and stop talking. He's doing more to sabotage his own campaign than any other candidate out there.

 

[rambone]

Who will stop the corporate farmer from putting 10x as much fertilizer on the ground as they are supposed to if there is no EPA? It will ruin the ground water supply for everyone. The EPA protects me FROM these corporations and their greed. I don't have a team of corporate lawyers to fight them in court.

The article says that the EPA will see a 30% budget cut. So its not gonna disappear just yet. If the Federal EPA were ever finally phased out, the states could determine if there is a problem and how to solve it.

Why eliminate capital gains taxes? They are already taxed less than income you EARN. Furthmore I will make pennies on my stocks compared to a Warren Buffet who doesn't EARN any of his money. Rather he invests and gets taxed less than me.

No Capital Gains tax leads to more investments,
which leads to more business expansion,
which leads to more jobs,
which leads to a better economy,
which leads to less plight of the unemployed,
which leads to less dependency,
which leads to less Welfare State,
which leads to more opportunity to shrink government,
which leads to an opportunity to eliminate income taxes and replace them with nothing.

I am having difficulty finding out what other agencies he would cut. If the DEA, CIA, and ATF aren't three of them then why cut? Board of Education and the EPA really aren't doing us the most harm. Would the states run their own version of the BoE and EPA?

These 5 cuts are for presidential cabinet departments. The five are:

1. Education
2. Commerce
3. Energy
4. Interior
5. Housing and Urban Development.

Source

allow overseas capital to be repatriated without penalty

Why in the world would we do this? For every 1 manufacturing job many service jobs are created. If we continue to send our maunfacturing overseas what will we have?

The way I understand it, he is removing the tax penalties for bringing manufacturing back to America.

 

[rambone]

Ron Paul: "Plan to Restore America" | Full Text

Read the details here. ^



Ron Paul’s Economic Plan: Cut 5 Cabinet Agencies, Cut Taxes, Cut President’s Pay - WSJ

GOP presidential candidate Rep. Ron Paul will unveil his economic plan Monday afternoon, calling for a lower corporate tax rate, cutting spending by $1 trillion during his first year in office and eliminating five cabinet-level agencies, including the Education Department, according to excerpts released to Washington Wire.

 

[Prometheus]

Where Paul goes wrong is thinking that Americans are more interested in the big picture than their personal wallet. Opt-out of SS sounds nice but since the current recipients are funded through contemporary pay-ins, nobody is going to want to double-dip their paycheck to pay for two retirement funds when they'll only get one. Not that I don't dream of an opt-out, but it's not realistic unless other things are done. And speaking of those other things, no one relying on SS is going to support this.

The savings used from ending foreign aid will fund SS benefits payments in place of those who opt out and thus no longer pay in.

It's a win-win for both those on SS and those who want out. Their is no double dip.

Not to mention that many younger workers are already paying into two retirements and only going to receive one of them. SS won't be there for the younger folks as it stands today... the point you are trying to make works against you.

 

[rockhopper46038]

In general, I like it. We definitely have too many agencies in Washington, mOst of which aren't providing much, if any value for their cost. I do like clean air and water, so another agency will have to pick up some of the EPA's responsibilities, but most of what the EPA appears to spend its time and money doing is less than useless, so good riddance to those departments. The money used to generate capital gains and dividends has already been taxed once, so eliminating taxation on those should have occurred a long time ago. I love the symbology of the Presidential salary. As for opting out of Soc Sec, I've been wishing for that option for 20 years, but I'd STILL opt out tomorrow and let the Feds keep the quarter million (employer plus employee contributions) they've sucked out of me over my working life if it were an option.

 

[hornadylnl]

What keeps a farmer from putting 10x the amount of fertilizer on the ground? Have you ever seen what that stuff costs? I don't think you'll find very many farmers out there who will put down more chemical than what benefits their rate of return on tgeir investment.

But I guess farmers and corporate execs drill tgeir personal wells into a different water table than the rest of us so over fertilizing and hazardous waste dumping doesn't affect them.

 

[Chefcook]

What keeps a farmer from putting 10x the amount of fertilizer on the ground? Have you ever seen what that stuff costs? I don't think you'll find very many farmers out there who will put down more chemical than what benefits their rate of return on tgeir investment.

But I guess farmers and corporate execs drill tgeir personal wells into a different water table than the rest of us so over fertilizing and hazardous waste dumping doesn't affect them.

Not to mention 10X the recommended amount of fertilizer would be toxic and kill all the crops.. Just sayin..

 

[turnandshoot4]

What keeps a farmer from putting 10x the amount of fertilizer on the ground? Have you ever seen what that stuff costs? I don't think you'll find very many farmers out there who will put down more chemical than what benefits their rate of return on tgeir investment.

But I guess farmers and corporate execs drill tgeir personal wells into a different water table than the rest of us so over fertilizing and hazardous waste dumping doesn't affect them.

Furthermore if you are a corporate dairy farm then the fertilizer is free.

 

[benkrebs]

http://c3244172.r72.cf0.rackcdn.com/wp-content/uploads/2011/10/RestoreAmericaPlan.pdf

Here is a PDF version outlining his plan, complete with with financial spreadsheets and pretty graphs. One thing I don't understand: he wants to abolish SarBox? I only know the basics on that bill but I don't think it's a big deal...

EDIT Rambone beat me to posting the PDF

 

[88GT]

The savings used from ending foreign aid will fund SS benefits payments in place of those who opt out and thus no longer pay in.

It's a win-win for both those on SS and those who want out. Their is no double dip.

Not to mention that many younger workers are already paying into two retirements and only going to receive one of them. SS won't be there for the younger folks as it stands today... the point you are trying to make works against you.

There will be no end to foreign aid. Paul doesn't have the authority to do it.