by Ron Paul
I recently voted again in favor of HR 4853, the Middle Class Tax Relief Act, legislation which ensures the continuation of the Bush-era tax cuts, fixes the AMT patch, and significantly reduces the burden of the estate tax in 2011. If no action had been taken by this Congress, all Americans would have had to pay higher income, dividend, estate, and capital gains taxes beginning on January 1, 2011. I will always vote to lower taxes at all levels, and I will never vote for tax increases.
Many opponents of this bill labor under the mistaken impression that it contains huge amounts of pork, earmarks, and other spending. What they are referring to is hundreds of billions of dollars worth of tax credits. Tax credits are not spending, they are not earmarks, they are not pork: they merely allow people to keep more of their own money. While the Administration’s desire in extending these particular credits may be to placate certain constituencies or to spur consumption or investment into certain sectors of the economy, the morally correct position is to allow people to keep their hard-earned money. That money belongs to the people and businesses who earned it, not to the government. If one wants to make it more equitable, then the amount of tax credits should be increased to include everyone.
Characterizing the tax cuts as fiscally irresponsible, as other opponents of the bill have done, is equally misguided. Those who wish to see this deal defeated because it “adds nearly $900 billion to the National Debt” are punishing taxpayers for the profligacy of the government. The National Debt is nearly $14 trillion because of excessive spending, not because of tax cuts. Every dollar added to the National Debt is due to the government’s inability to rein in spending, not because American taxpayers are paying too little of their salaries to the federal government. This is why I vote against all appropriations bills. Allowing taxes to rise and provide more money to the federal government would only serve to further feed the beast that is devouring this country.
This bill also reduces the burden of the estate tax, which according to law is set to return in 2011. This unconscionable tax is an insidious form of double taxation and comes into effect in 2011 with a 55% tax rate. Americans should not be penalized for accumulating savings during their lifetimes. The estate tax especially harms small and family-owned businesses, which often must be sold to pay the tax bill. HR 4853 reduces this death tax rate from 55% to 35%, and raises the exemption from $1 million to $5 million. While I would prefer to see this tax eliminated completely, this significant tax cut will help thousands of families.
Many people have urged that this tax bill be rejected and that Republicans come back in January to vote on a clean bill. Waiting until the next Congress would also mean that taxpayers would have much more of their salary withheld until any tax cuts could be made. While it is certainly possible to wait until January, we still have a Democratic Senate, and a Democratic president who would likely veto a clean tax bill. I too would prefer to see a completely clean bill, but that is not what we have been given. A vote against the bill before us today would be a vote to raise taxes on all Americans.
Much of the debate about this bill only serves to distract people from discussing substantive change and lead to argument about picayune minutiae. I believe we should abolish the income tax and eliminate the IRS altogether. Congress funded the government using excise taxes for more than 120 years without an income tax, and the federal government not surprisingly adhered much more closely to the constitutionally-defined limits of its powers during that time. Real tax reform can only happen when we insist on reducing the size of the federal government and reducing the pork in its bloated budget.
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Mike breaks down a 60 minute interview will Ben Bernanke word for word exposing the lies and deception of banking.
Mike also breaks down Ron Paul’s reply to that 60 minute interview with Ben Bernanke word for word also.
And finally mike exposes Dennis Kucinich’s Plagiarisation of MPE and the world mandate in Dennis’s latest reform bill.
http://www.youtube.com/user/chelonia1663?feature=mhum#p/f/18/FB12kKfUsn0
Mike Montagne 1/18 (MPE) 60 minutes Lie of Economy 01.01.11
1/18 to 18/18
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This is Ron Paul at his best! Repeal the 16th amendment! Put the federal government back within its constitutional boundaries with one single action. Let the federal government live off tariffs as the constitution’s framers originally intended.
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What was wrong with waiting one or two weeks? No, it has to be right now, hurry up. Didn’t any one hear us on Nov 2? I supported Ron, Rand, and a whole lot of others. I’m making 1/2 of what I made 2008 and Land Taxes keep going up. But, I won’t stop fighting. I love this country but it doesn’t look good for my grandkids. I already paid for my stone & plot. I will not give a dime to another politician. Like so many others I am fed up. They say this and do that. It’s sickening. But, I have only begun to fight. At age 54 I’m realizing I, we, are on are own. Same old, same old lies. Just different faces. As soon as we lose what’s left of are libertys? Most of those dumb politicans with there hands out will be thrown under the bus, Republiecans and Democrats. Get ready boys and girls. It’s comming sooner then you think and It’s going to be Sad. Dog eat Dog.
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Why can,t we drill for oil and build refineries. We have the technology, if people don’t want it, just take their cars away, and they will change.
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“Don’t steal, the Government hates competition”
The Government… isn’t that people like Mr. Paul? You ARE part of the Government aren’t you? Why don’t you push for a bill to stop the lobbyists, or get corporate corruption out of the government?
Instead you vote for another trillion added to the deficit… and blame “the other guys.”
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Dr. Paul is wrong on this one. The tax issue is irrelevant. Taxes can be reduced to ZERO and it won’t stop them. They will spend, spend, spend and worry about paying for it in any way possible…printing money. One dollar of deficit spending IS a tax on all of us. Dr. Paul knows this yet still voted to RAISE “taxes” on all of us by extending unemployment compensation. The taxes on all of us went up when this occurred in the form of a weakening dollar.
What part of STOP SPENDING don’t they get?
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They haven’t taken the red pill yet and are still in denial. Actually they did and are just acting like they are for the better of the country. It is word play and a lot don’t get it. Dr. Ron Paul and a few are actually fighting our liberties and the liberties of other (global) but they are greatly outnumbered by lobbyist.
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Ron Paul is pointing out the bigger picture, that this Omibus spending bill and Tax Cut Extension are mere tips of the government iceberg.
Our government has taken advantage of every “crisis” over the past 100 years and responded with more government “programs” and ever bigger spending agendas.
The result… the last straw is very close to breaking our collective backs, and when it does the pending collapse will usher in the Totalitarian Police State.
Freedom and Liberty will be suspended and Martial Law will be proclaimed in the name of restoring order.
Absent a drastic reduction of the Government, i.e. cutting 1/3rd minimum, a total collapse is inevitable.
Ron Paul has warned repeatedly Citizens of America, prepare yourselves!
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Will you bet on that?
Are you so sure that you will sell me an option to buy your stocks, house, etc. for $1 (except in the case of a one-third reduction in spending) ? If you and Ron Paul are right, it won’t be worth anything anyway.
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Monstrosity though it may be, this bill is a small fish in a pool of sharks. Don’t let it be the seed of discord.
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I understand your reasoning, but I think you should have waited. We’re playing chicken, here, and the question is who will bail first. Apparently, the Republicans did, and, though from a certain angle it looks good, in reality it’s a bad deal for We the People.
In contrast, let’s say the Republicans did not bail but (uncharacteristically) persevered! What would happen?
Next year, a straight up or down vote on a clean, un-porkladen bill––a vote of accountability would be sent up from the House. PTL!
Would it go through and be signed? We don’t know. If it passed and was signed that would benefit and bless all involved–including the Oman.
If not, YES, We the People would have to endure more pillaging—BUT the Marxist confiscators would all, ALL be exposed, and more Dems are up for election in 2012 in the Senate than Republicans.
So, let’s look at the alternatives: vote no on the bill and wait to vote yes in January on a clean bill that doesn’t smell like bacon.
Vote yes and give the Marxists even more territory.
Voting for this monstrosity only makes things worse, and we’re fast running out of funds enabling us to indulge as we would prefer.
Would waiting have cost We the People something? Yes. But this bill will cost us more—-once again, the democrats won chicken—
»crosslinked«
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