Monday, October 17, 2011

More Than Just Another 9-9-9 Shell Game: Ron Paul Releases Plan To Restore America To Save $1 Trillion In The First Year And Balance The Budget By The Third Year

While the media's newest political heartthrob, Herman Cain, has been peddling his 9-9-9 shell game which not only would shift the taxation burden to those less able to afford it, but provide no significant additional revenue to the government, Ron Paul's staff has been stitching together a comprehensive Plan To Restore America which would immediately reduce federal government redundancy, cut $1 trillion from the budget in the first year, and provide for an annual balanced budget in the third year of a prospective Ron Paul Administration. From 2013-2016, the national debt as a percentage of the GDP would be reduced from 92.47 percent to 84.30 percent.

-- Read the entire 11-page Plan To Restore America HERE

Jesse Benton, Ron Paul 2012 National Campaign Chairman and a co-author of the plan, said “Ron Paul’s plan is the only one that seriously addresses the economic and budgetary problems our nation faces. It cuts $1 trillion in one year, and slashes regulations and taxes so our economy can grow and create jobs...It’s the only plan offered by a presidential candidate that actually balances the budget and begins to pay down the debt. And it’s the only plan being offered that tries to reign in the Federal Reserve and get inflation under control". Ron Paul's 37-minute press conference announcing the plan is embedded below:


-- Eliminate five federal cabinet departments – the Departments of Energy, Housing and Urban Development, Commerce, Interior and Education.

-- Abolish the Transportation Security Administration and return responsibility for security to private property owners, abolish corporate subsidies, stop foreign aid, end foreign wars, and return most other spending to 2006 levels.

-- Medicaid, the Children’s Health Insurance Program, food stamps, family support programs and the children’s nutrition program would be block-granted to the states and removed from the mandatory spending column of the federal budget.

-- Repeal Obamacare, Sarbanes-Oxley, and the Dodd-Frank financial regulatory reform law which gave big banks an excuse to implement debit card fees.

-- Reduce the federal workforce by 10 percent, slash Congressional pay and perks, curb excessive federal travel, and reduce the Presidential salary to $39,336 to symbolize his personal investment in the plan. Ron Paul doesn't just point the way, he also LEADS the way.

-- Lowers the corporate tax rate to 15 percent. Allows American companies to repatriate capital without additional taxation, spurring trillions in new
investment. Extends all Bush tax cuts. Abolishes the inheritance tax. Ends taxes on personal savings, allowing families to actually accrue income.

Reaction: Appearing on CNN ahead of the speech, Paul was asked by Wolf Blitzer on how eliminating about 221,000 government jobs across five cabinet departments would boost the economy. He responded: “They’re not productive jobs.” This, of course, means that most of those government jobs merely transfer existing wealth rather than create new wealth.

On Politico, 355 comments have been posted so far, many in support of Dr. Paul's idea. But some critics are concerned about the ability of the states to properly take over burdens from the federal government, noting that not all states have equal financial prowess.

A new CNN-ORC poll shows Romney at 26%; Cain at 25%; Perry at 13%; Paul at 9%; Gingrich at 8%; Bachmann at 6%; Santorum at 2%; and Huntsman at 1%. But while Herman Cain offers just another pizza slogan, Ron Paul actually offers a plan.

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