Monday, October 17, 2011

Ron Paul to Propose $1 T in SPECIFIC Budget Cuts, Including Slashing President's Salary to $39,336, 10% Reduction in Federal Employees

Derivatives have made the current situation unfixable.  Ron Paul's not going down without a fight. 

Ron Paul’s opinions about cutting the budget are well-known, but on Monday, he’ll get specific: the Texas congressman will lay out a budget blueprint for deep and far-reaching cuts to federal spending, including the elimination of five cabinet-level departments and the drawdown of American troops fighting overseas.

The EPA would see a 30 percent cut, the Food and Drug Administration would see one of 40 percent and foreign aid would be zeroed out immediately. He’d also take an ax to Pentagon funding for wars.
The federal workforce would be reduced by 10 percent, and the president’s pay would be cut to $39,336 — a level that the Paul document notes is “approximately equal to the median personal income of the American worker.”
Paul would also make far-reaching changes to federal tax policy, reducing the top corporate income tax rate to 15 percent, eliminating capital gains and dividends taxes, and allowing for repatriation of overseas capital without tax penalties. All Bush-era tax cuts would be extended.
And like the rest of his GOP rivals, Paul would repeal President Barack Obama’s health care reform law, along with the Dodd-Frank financial regulatory reform law enacted last year. Paul, a longtime Federal Reserve critic, would also push a full audit of the central bank, as well as legislation to “strengthen the dollar and stabilize inflation.