Restore America Now: End the Fed, Stop the Wars, Abolish the Income Tax!




Date: 06/13/2011

The Keys to Economic Growth

by Ron Paul

Recent economic data show that U.S. job growth in May was negligible, while the official unemployment figure– at least the figure the Labor Department admits to– rose to 9.1%. The real unemployment figure, however, as compiled by economist John Williams, may well be higher than 20%. It is clear the U.S. economy is in terrible shape, and that no amount of government spending or Federal Reserve quantitative easing can reduce unemployment, increase real productivity, or address our debt fiasco.U.S. jobs and productivity are dependent on the accumulation of private capital to finance existing businesses or fund new entrepreneurial activity. Private capital– whether accumulated by profitable U.S. businesses, invested by private equity and venture capital firms, or attracted from abroad– is the key to economic growth and new jobs. But we cannot create jobs if we demonize profits, punish risk-taking capitalists, and stay hostile to foreign investment.

The steps to encouraging capital investment and creating new jobs in America are simple, though not easy:

  • First and foremost, we must create a sound U.S. currency backed by gold or some other commodity respected by the market. No nation in history with a rapidly depreciating currency has attracted private capital. Unless and until we prohibit the Treasury and Federal Reserve from essentially creating money and credit from thin air, we cannot restore the U.S. economy.
  • Second, we must create a favorable regulatory environment for U.S. business. This cannot be stressed enough. When businesses don’t know what’s coming next from the EPA, when Obamacare spikes their healthcare costs, or when the Dodd-Frank bill adds almost unknowable regulatory compliance burdens, businesses simply will not expand and hire. It is time to start shrinking the federal register.
  • Third, we must stop spending trillions of dollars overseas on foreign wars. There is no point in debating a foreign policy we cannot afford. It no longer matters what neoconservatives want. Our interventionist foreign policy is financed on credit, and our credit limit has been reached. Our economy would be infinitely better off if those trillions of dollars had never been removed from the private economy or added to our debt.
  • Finally, we must completely revamp the U.S. tax system and move to a territorial model that does not tax foreign source income. U.S. corporations are sitting on more than a trillion dollars in foreign earnings that cannot be repatriated to the U.S. because of taxes. We need to stop taxing unpatriated funds to bring those earnings home. Better yet, we need to abolish the income tax altogether.

The U.S. economy is in deep trouble. Congress needs to act immediately to restore the rule of law and create an environment that rewards, rather than punishes, the critical components of any healthy economy: capital accumulation and investment.

In this struggling economy it is essential for politicians to take a step back and think about what government has been doing to business in this country. In less than 200 years, the free market, property rights, and respect for the rule of law took this nation from a rough frontier to a global economic superpower. Today, however, our nation and our economy clearly are headed in the wrong direction.

Of course, America has never enjoyed absolute free-market capitalism: creeping government intrusion and special interest political patronage have existed and increased since our founding. But America historically has permitted free markets to operate with less government interference than other nations, while showing greater respect for property rights and the rule of law. Less government, respect for private property, and a relatively stable legal environment allowed America to become the wealthiest nation on earth.

By contrast, the poorest nations almost always demonstrate hostility for free markets, private property, and the rule of law. Capital formation, entrepreneurship, credit, and wealth accumulation are uniformly discouraged in poor countries. Private contracts are not reliably enforced, and private property is not secure in the hands of owners. The predictable result is widespread poverty and misery.



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113 Comments:

  1. Its gonna take all of us to get Ron in office!!! Spread the word RON PAUL 2012!!!!

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  2. RP2012 #FTW

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  3. Please, I know that you advocate state rights, would you please put out a weekly update about your views on state rights and what americans can do to improve state rights themselves.

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  4. ImNotVoting4RonPaul

    Hello Ronbots-

    Truly you are works of art. I've never seen so many drones incapable of basic logic and reasoning. Try not to self destruct when Herman Cain owns Dr. P in the debate tonight.

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  5. Well you sure do have my sons attention. He speaks very highly of you and what you stand for. I have been around a lot longer than he has and have seen so many politicians promise the people everything they wanted to hear. It seems to be the way to the oval office. I am just now starting to pay attention to you and am a big doubter mainly because of so many false promises in the past. I do plan to follow you and catch up on what you have done and plan to do in the future for our country. It appears like you are a sincere person and I will be watching. I am just another citizen and I don't stand out in a crowd. But I do carry with me at all times a most powerful weapon. The power of one vote. And it has a very sharp edge.

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  6. Are incarcerated citizens included in the unemployment statistics?

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  7. If he gets elected and assassinated, it will certainly be because he wanted to take down the Federal Reserve!

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  8. The Dude is VOTEING for Ron Paul in 2012 p.s people should see a episode of the Twilight Zone called The Obsolete Man because if we don't vote for good people like Ron Paul that episode could be aware future!

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  9. Just about everything we hear coming from our privately owned government and MSM is lies. Ron Paul tells the truth. In his words-"Truth is tyranny in an empire of lies".

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  10. WEBSTER TARPLEY - PAKISTAN IS THE ROAD TO WW3 (3/6)
    /watch?v=cOehEKrGuLM

    China Issues Ultimatum to United States
    /watch?v=dIpFapqOWoA

    Congress Vote On Declaration Of World War 3
    blog.alexanderhiggins. com/2011/05/15/congress-vote-declaration-world-war-3-endless-war-borders-clear-enemies-22785/
    The site was recently got hacked.

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  11. Texas is the proof that no state income tax, and being a 'Right to Work' state have much to do with the states economy. Amarillo sports 5% unemployment right now, and it is declining.

    Can you imagine what no federal income tax would do?

    Restore America - Ron Paul 2012!!!!!!

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  12. I really don't see what we are waiting for to restore America. We've waited long enough and it's time to make things happen.

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  13. There are three things which have been killing the American economy for decades; the cost of foreign wars, the trade deficit, and the interest on the national debt. All three have sent trillions out of the economy and it must stop. The people getting those trillions will fight tooth and nail, but we can’t afford to let them have their way anymore. We need to get out of the wars, introduce some fair tariffs, and tame the national debt. It may even come to exercising the government’s constitutional right to issue its own debt free money instead of borrowing it from a privately owned central bank like the FED. That may lead to some very nasty business, and if it’s done we better be ready for anything. But if we want to survive and prosper as a nation it may come down to just that.
    God Bless Dr. Paul.

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  14. LETS MAKE SHIT HAPPEN. IM READY. NO MORE CORRUPTION COMPLETE OVERHAUL OF ALL THREE BRANCHES OF GOVERNMENT. END THE FED. RESTORE CONSTITUTION>END THE WAR> FINANCE ALTERNATIVE ENERGY&EDUCATION&VETERANS

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  15. CHOOSEFREEDOM2012--RON PAUL!! STOP THE WARS, BRING THETROOPS HOME AND RESTORE A CONSTITUTIONAL REPUBLIC AND REBUILD AMERICA!!

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  16. this recording is from the future.....8>

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  17. I admire Ron Pauls patience. I am sure he screams himself to sleep every night wondering why the American people aren't showing him the attention he deserves, or better yet the reason why he wasn't elected president. I promise to you Ron Paul that I will give every last of my blood sweat and tears fighting for you next year. You are a true patriot. If the founding fathers were alive today, besides starting a full on revolution, they would be voting for you. Thanks for what you do sir. RP 2012.

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  18. Dear Ron. I am so concerned for the extinction of America! Please push the Glass-Steagall act for this country's sake (the people) not the sheeple like the powers think we all are. We do know about Bilderberg, HAARP etc. All the sinister things going on with all these governments. It is moving fast and we need this enacted..
    like right now!!! By July 4th. Or no more America!! GO KICK SOME BANKER TAIL.... Thanks, Chris oh yea and WALL STREET

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  19. Keep fighting the good fight Dr. Paul.

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  20. Calling All R3VOLUTIONARIES FOR LIBERTY!!! Get Involved in the RON PAUL SIGN BOMB!
    GOOGLE IT!

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