Tuesday, April 21, 2009

Debt, Spending, and Taxes

Deficit spending must immediately cease and all unconstitutional programs must be eliminated from the budget. All revenue, save that needed for the common defense, the general welfare, and certain entitlements now relied on for survival, should be re-directed to eliminate the national debt until it is repaid. The income tax on Americans should be eliminated and the sixteenth amendment repealed since the war it was intended to fund ended in 1919. Corporate income tax rates should be reset at 10% across the board. Excises, imposts, and duties should be adjusted so as to be able to pay for the National Infrastructure required for interstate trade and the Naval Forces required to protect the import/export of our goods and services. These adjustments would cause an explosion of wealth and growth in our economy the likes of which has not been seen in anyone’s lifetime. If all illegal spending ended, the considerable revenue generated by the aforementioned explosive economic growth would more than provide the nation with the funds needed for it to function.

To repay the debt we have allowed our Congress to accumulate, every citizen owes $34,778.50. Soon, interest payments on this debt will exceed tax revenues. Article I § 8 of the Constitution states “…Congress shall have the Power To lay and collect Taxes, Duties, Imposts, and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States;…” According to this, the United States may only go into debt or raise taxes providing for the common Defense or general Welfare. Additionally, even if there are legitimate expenditures that may be justified, budgetary constraints are supposed to force a prioritization process upon Congressional spending. However, to get around these legal and economical limitations the Congress has devised a new tax, which is not ever referred to as such but is otherwise known as deficit spending.

The Congress deficit spends when it does not have enough tax revenue for all the expenditures it wants. Deficit spending requires the creation of new Currency in the form of Federal Reserve Notes. This new currency dilutes that which is already in circulation, which in turn results in the loss of value of that circulating currency. The end result is an inflationary cycle which slowly destroys the value of our collective savings and requires investment in “ponzi schemes” to generate inflated gains simply to keep up with inflation. Compared to gold and silver Money, inflation has been and always will be relatively flat.

This deficit spending behavior is allowed by the tyranny of the majority and their ability to vote themselves, and their States, Money from the Treasury. Sadly, I cannot ascribe this spending to out-of-control democrats in the federal government because—shamefully—the previous Republican ran government outspent the Clinton administration by a 3:1 ratio. Providing for the general Welfare requires prioritization, which takes into account how much the country actually has to spend on such things. However, rather than be bound by this natural restriction, the Federal Government spends far more than the humble authorizations given to it in the Constitution.

An independent Auditor should be appointed to make a report on all the illegal and un-constitutional expenditures currently being allowed by the Congress and any that are found should be immediately discontinued or slowly eliminated. I say slowly eliminated because some entitlements have become relied upon for survival by large segments of the population. However, even these should be ended at a certain point and the young required to begin their own savings/investment retirement plans administered by the market.


RJ Harris
Norman, OK
OK Dist4 Congressional Candidate
Constitutional Conservative Republican

No comments:

Post a Comment