Ron Paul's Economic Policies are Superior to Barack Obama's

Point 1: Ron Paul's Tax Plan is perfect for today's economy. His tax plan involves a significant reduction in taxes, including a significant reduction in taxes to the rich and taxes to corporations, and the tax rate is too progressive, and the taxes don't even do anything. "During the stock market crash, the recovery started in 1934, in 1937 taxes were raised causing the economy to plunge back to where it was in 1934."[1] Why is lowering taxes important? Lowering taxes allows the regular citizen to have more cash in his or her pocket, which makes them feel more secure financially in a recession. Not to mention, some of this extra money can go to buy stuff which increases GDP. "Income taxes should be cut because the overall tax burden is quite high right now. As of the third quarter of 2000, federal revenues as a share of the gross domestic product hit a peacetime high of 20.8 percent. Prosperity has made Americans more accepting of the rising tax burden, but the current economic slowdown will make high taxes harder to bear."[2] Why is lowering taxes for the rich important? One, they buy big ticket items such as mansions, yachts, expensive cars, etc... All of the purchases get factored in to GDP. The more a country spends, the higher it's GDP is. Lowering taxes for the rich would allow them to buy more of these big ticket items, which would thus increase GDP. But more importantly, two, they create and maintain businesses. Most of the big and medium sized corporations are owned by rich people. If you decrease taxes, that is more the rich can spend on businesses. The more the spend on businesses, the more products that are available at a lower price (which intices consumers to buy, especially in a recession), which in turn increases GDP. Also, the rich can give raises to their employees, spend money to fix working equipment, and make the employee feel more comfortable and safe. Also, they will expand or create new businesses, which increases GDP and decreases unemployment. "Meanwhile, the 53% of Americans who are paying income taxes are relentlessly slandered as "greedy" and "selfish" for not being willing to hand over EVEN MORE of the money that they worked for in order to pay for benefits for other people. In other words, we have a lot of people in America who want more services from the government, but they are demanding that other people pay for it."[3] Why is lowering taxes for corporations important? If you lower taxes for corporations, that allows the business to have a higher profit. Profit means wage increases, safer working conditions, and most importantly, expansion. All of these things allow the employee to feel more secure financially, allow the employee to feel safer working, and allow the employee to enjoy his work more. And expansion, as I said earlier, increases GDP and decreases unemployment. Why? Because to expand, you need construction workers, materials, building permits, and other things. This buying increases GDP. On top of that, the expansion allows the business to produce more, which increases GDP. And it decreases unemployment because expansion requires more workers. "Hewlett-Packard says that it saves $1 billion a year in taxes by operating in some countries where it's "wholly exempt from taxes," resulting in a 21% rate. Apple's overseas cash hoard leapt from $17.4 billion in 2009 to $30.8 billion in 2010, in part because its intellectual property is owned by foreign subsidiaries."[4] This also means that if corporate taxes are too high, businesses will go elsewhere, therefore, we lose their GDP contribution entirely. Why is the tax rate too progressive? One because 47% of the population pays no taxes, and the other 53% are decried for being greedy, when they are the ones paying the taxes! And on top of that, the rich are even more decried for being greedy, and yet the poor pay no taxes and the rich pay a 45% tax rate! This is very unfair. Also, the poor are not really poor. "Here's a lesson in economics for OWS. Explain to the 99% that they are actually in the 5% of richest people on the planet. Then take their wealth and redistribute it to the 95% of the world that is poorer than them. See how they feel about wealth redistribution then."[5] Why are the taxes worthless? One, they don't go to decrease the deficit, they go to increase Government Spending on social programs that put us in an even bigger deficit. And two, the taxes that go to fund these social programs just encourage a longer recession and a longer high rate of unemployment. "Federal spending has gone up 84% under Obama.""Since that's the case and we still have a liberal President and a liberal majority in the Senate, it's entirely possible that every new dime of tax revenue would be spent — and then some."[3] Point 2: Ron Paul's government hands-off approach to the economy is perfect. Ron Paul knows that there is too much Government regulation of business today. With less regulation, that gives more money in the hands of corporations, which again, increases GDP and decreases unemployment. Businesses always have to worry about useless environmental regulations that cost money, they have to worry about workers conditions laws that cost money, and they have to worry about other business regulations that cost them money. "Government has been calling the plays while ordinary Americans ride the bench. But when the game is on the line, it's time to give the real playmakers the ball. The answer to too much government isn't more government."[6] ""The current regulatory burden coming out of Washington far exceeds the federal government's constitutional mandate, and it's hurting job creation in our country at a time when we can't afford it," Cantor's fellow House Republican, Speaker John Boehner, said in a speech to the Economic Club of Washington last week."[7]. Reduce regulations, increase profit. He also knows that the economy can correct itself. He knows economies will punish businesses who provide bad working conditions or bad salaries. "Our government frenzy of throwing $6.3 trillion dollars in bailout money at our economy will have long reaching effects on our national debt and our ability to borrow money. It is political, short sighted, and inefficient. And ultimately taxpayers will be paying for the political gains of our economically illiterate Congress."[8]. Point 3: Ron Paul's fiscal and monetary policy is a lot better than Obama's. His fiscal policy involves cutting one trillion from federal spending each year, veto unbalanced budgets, and would never raise the debt ceiling. This all would in turn, decrease the federal deficit significantly over a 10 year period and would get America out of foreign dependency. "Saying no to the debt ceiling," correctly saying they would raise the national debt ceiling anyway to avoid severe financial disruption."[9] The danger in Obama's fiscal policy is that he keeps spending way too much, and will eventually send us into default. His monetary policy involves a full audit of the federal reserve, which is long overdue, considering they have misplaced several billion dollars over the years, then eventually end the fed so as to get rid of the terrible system of central banking. "Given that Paul is about the only one in Congress willing to fight this fight, he merits support, even if that support is occasionally critical."[10] [1]:http://answers.yahoo.com... [2]:http://www.cato.org... [3]:http://rightwingnews.com... [4]:http://forums.cnet.com... [5]:http://liberalforum.org... [6]:http://www.nytimes.com... [7]:http://abcnews.go.com... [8]:http://blog.myrecordjournal.com... [9]:http://useconomy.about.com... [10]:http://www.cato-at-liberty.org...