It's no secret that I'm a big Ron Paul fan. I actually had the pleasure of voting for him in the 2008 presidential election (to my knowledge, he was only on the ballot in Louisiana and Montana, but I could be wrong about that). So I'm hardly impartial. But I consider most presidential elections to be more of a national IQ test than anything else, so that explains my support for Dr. Paul.
He recently released his Plan to Restore America, and I'll be damned if it isn't an old-school conservative's wet dream (neo-cons can skip to the next post now - the American war machine is about to be dismantled). My favorite part of the plan? He'll only accept a salary of $39,336 a year as President. Why? Because that's the median personal income of the American worker. That's public service.
His plan purports to balance the budget in the third year of his presidency. That sounds like a bold projection, but when the first twelve months are spent abolishing the Departments of Energy, HUD, Commerce, Interior, and Education - thus saving $1 Trillion and cutting the federal government workforce by 10 percent - it appears doable. Also, if I were a young person in my first ten years in the workforce, wild horses couldn't keep me from voting for him for the simple reason that he'd let me opt out of Social Security.
Additionally, he plans to lower the corporate tax rate to a flat 15 percent, and in the process repatriate a bunch of overseas corporate profits (okay, that's probably wishful thinking). On top of that, his plan abolishes the Estate Tax and eliminates taxes on personal savings.
But are you ready for the best part? This is buried in the plan and only gets one sentence, but speaks volumes:
Conducts a full audit of the Federal Reserve and implements competing currency (emphasis mine) legislation to strengthen the dollar and stabilize inflation.
I believe he means to bring back real money. Maybe gold based. Maybe silver based. Maybe oil based, come to that. But real money you could exchange for something tangible. And if that happens, the fiat currency of the Federal Reserve is done. He might not be able to do away with the Fed, but if he can introduce a competing currency (which is the duty of Congress as specified in the Constitution) that is asset-backed, that could be a world changer.
I know detractors will be quick to point out that a 10 percent reduction in government workers will send unemployment through the roof. They're right. But we need to take some bitter medicine if we want to get well. Let's face it: the Department of Education hasn't done anyone in this country any favors over the past, oh, five decades or so.
So what do you guys think? All this and the guy's willing to work for $40,000 a year, right? Or is he completely off his rocker?