Home Page

Contents

U.S. Rep. Ron Paul business Book of Ron Paul business State Of The Republic 28 January 1998    1998 Ron Paul 2:21 So we must be prepared to pay, as we already have started to, through our foreign aid appropriations. This promotes on a grand scale a government business partnership that is dangerous to those who love liberty and detest fascism. And yet, most Members of Congress will say little, ask little, and understand little, while joining in the emotional outburst directed towards the local thugs running the Mideastern fiefdoms like Iraq and Libya. business State Of The Republic 28 January 1998    1998 Ron Paul 2:22 This attitude, as pervasive as it is in Washington, is tempered by the people’s instincts for minding our own business, not wanting Americans to be the policemen of the world, and deep concern for American sovereignty. The result, not too unusual, is for the politicians in Washington to be doing one thing while saying something else at home. business State Of The Republic 28 January 1998    1998 Ron Paul 2:95 But there are many other programs precisely designed to satisfy the special interests of big business. A casual observer that might think the political party that champions the needs of the poor would not be getting political and financial support from the rich. But quite clearly, both parties are very willing to receive financial and political support from special interests representing the rich and the poor, business and labor, domestic and foreign. business State Of The Republic 28 January 1998    1998 Ron Paul 2:98 The special areas of the budget that are of specific benefit to corporate America are literally too numerous to count, but there are some special programs benefiting corporations that usually prompt unconditional support from both parties. The military industrial complex is clearly recognized for its influence in Washington. This same group has a vested interest in our foreign policy that encourages policing the world, Nation building, and foreign social engineering. Big contracts are given to friendly corporations in places like Haiti, Bosnia and the Persian Gulf region. Corporations benefiting from these programs are unable to deal objectively with foreign policy issues, and it is not unusual for these same corporate leaders to lobby for troop deployments in worldwide military intervention. The U.S. remains the world’s top arms manufacturer and our foreign policy permits the exports to world customers subsidized through the Export-Import Bank. Foreign aid, Overseas Private Investment Corporation, Export-Import Bank, IMF, World Bank, development banks are all used to continue bailouts of Third World countries heavily invested in by our corporations and banks. Corporations can get special tax treatment that only the powerful and influential can achieve. For instance, pseudo-free trade legislation like NAFTA and GATT and the recent Fast Track legislation shows how much big business influences both congressional leaders and the administration. business State Of The Republic 28 January 1998    1998 Ron Paul 2:122 By insisting that all government action be guided by tolerance and compromise in any effort to protect liberty, it is only natural that strict observance to standards in other areas would be abandoned. And it is true, we now live in an age where life has relative value, money has no definition, marriage is undefinable, moral values are taught as relative ethics in our classrooms, good grades in the classroom no longer reflect excellence, success in business is often subjected to doubts because of affirmative action, and corporate profits depend more on good lobbyists in Washington than creative effort. business State Of The Republic 28 January 1998    1998 Ron Paul 2:139 The budgetary process and the transfer of wealth that occurs through monetary inflation is influenced more by the business and banking elite than by the poor. The $1.7 trillion budget is not an investment in liberty. The kings are gone and I doubt that we will see another Stalin, Hitler, Pol Pot or Mao, but the “majority” in our legislative bodies now reign supreme with one goal in mind: maintaining power. business Three Important Issues For America 11 February 1998    1998 Ron Paul 7:86 So what we are doing here is very serious business. Unfortunately, it looks like it is going to happen and it looks like there will be one or two or three or four of us that will say, go slow, do not do this, let us question this. But unfortunately, the only significant criticism we have had of the policy has been, do more faster. business Three Important Issues For America 11 February 1998    1998 Ron Paul 7:88 Saddam is weaker than he used to be. He could be stronger after this is finished. So we must be cautious. We must take our time and think about this before we go off and make this declaration. It sounds like a lot of fun. We have a lot of bombers. We have a lot of equipment that we have to test, and we can go over there and see if the B–1 and the stealth bombers will work a little bit better than they have in the past. But this is not a game. This is not a game. This is serious business. business Three Important Issues For America 11 February 1998    1998 Ron Paul 7:105 How many bombs did we drop in South Vietnam? How many men were lost on our side? How many people were lost on the other side? How many innocent people were lost? So the war ends, after a decade. After a decade of misery in this country where we literally had to turn on our own people to suppress the demonstrations. But today I have friends who are doing business in South Vietnam, making money over there, which means that trade and talk works. They are becoming more Westernized. business We Encouraged Saddam Hussein 12 February 1998    1998 Ron Paul 12:3 Then the gentleman brings up the subject: Yes, he may be in the business of developing weapons, but he has gotten help from China and Russia, and possibly from Britain and the United States, and 20 other nations are doing the same thing. So if we are interested in stopping these weapons, we better attack 20 countries. So we have a job on our hands. business Millennium Bug 24 February 1998    1998 Ron Paul 13:4 James Mills, of NAFCU, testified before the House Committee on Banking and Financial Services, “Historically, the role of providing education and training is one best performed by the private sector, namely trade associations and industry-related organizations . . . Rather than require federal agencies to offer seminars, perhaps any legislative efforts should require federal agencies to participate in such programs or make it advisable and permissible to participate.” NAFCU believes that the focus of H.R. 3116 should be strictly limited to ensuring compliance. In its present form, H.R. 3116 contains a broad and permanent expansion of NCUA’s examination and regulatory authority . . . Legitimate questions may be raised as to whether, absent the year 2000 issue, NCUA, as a federal financial regulatory agency, should have the authority not just to examine but to actually regulate private business enterprises incorporated under the laws of various states. The authority given to NCUA in H.R. 3116, is not limited to the examination and regulation of credit unions, but would allow NCUA to examine and regulate third-party businesses, vendors and outside providers. Do the members of the Committee intend to give NCUA authority to regulate private entities?” business Introducing The Privacy Protection Act 25 February 1998    1998 Ron Paul 20:2 Anyone who doubts that we are well on the way to using the Social Security number as an universal identifier need only consult 1996’s welfare reform bill, which forces business to report the Social Security number of every new employee to the federal government so it may be recorded in a national data base. business Introduction Of The Rice Farmer Fairness Act 5 March 1998    1998 Ron Paul 23:4 My legislation is very simple and direct in dealing with this problem. It says that those who had tenant rice farmers producing rice when they began to receive this subsidy must continue to maintain rice in their crop rotation if they wish to retain the subsidy. In this way, we can remove the perverse incentive which the Federal Government has provided to landowners to exit the rice business and thereby put the entire rice infrastructure at risk. business Birth Defects Prevention Act 10 March 1998    1998 Ron Paul 24:6 Jefferson, in one of his most famous remarks, when addressing the issue of whether to grant a federal charter to a mining business, recognized below the slippery slope of a lax interpretation of the “necessary and proper” clause: business Removing U.S. Armed Forces From Bosnia And Herzegovina 17 March 1998    1998 Ron Paul 26:13 But at the same time we win those kind of votes, and there is a strong sentiment here in the Congress when we are required to vote and there is certainly a strong sentiment among the American people that we ought to be dealing with our problems here at home, we ought not to assume the role of world policemen, and we ought to mind our own business, and we ought to be concerned about the sovereignty of the United States, rather than sending our troops around the world under the auspices of the United Nations and NATO and literally giving up our sovereignty to international bodies. We were very confused as to who was really in charge of foreign policy in Iraq, whether it was Kofi Annan or whether it was our President. business The Bubble 28 April 1998    1998 Ron Paul 39:37 The business cycle — the boom-bust cycle of history — has not been repealed. The psychological element of trust in the money, politicians, and central bankers can permit financial bubbles to last longer, but policies can vary as well as perceptions, both being unpredictable. business The Bubble 28 April 1998    1998 Ron Paul 39:53 WASHINGTON MENTALITY Every politician I know in Washington is awestruck by Greenspan. The article in The New Republic reflects the way many Members of Congress feel about the “success” of Greenspan over the last ten years. Add to this the fact that there is no significant understanding of the Austrian business cycle in Washington, and the likelihood of adopting a solution to the pending crisis, based on such an understanding, is remote. business The Bubble 28 April 1998    1998 Ron Paul 39:55 The debate so often seems only to be who should get the expanded credit, the business-banking community or the welfare recipients who will receive it indirectly through the monetization of an ever-expanding government deficit. In Washington there is a craving for power and influence, and this motivates some a lot more than their public display of concern for helping the poor. business Higher Education Amendments of 1998 6 May 1998    1998 Ron Paul 49:11 The association also objects to the requirement that campus make police and security logs available to the general public within two business days as this may not allow for an intelligent interpretation of the impact of the availability of the information and may compromise an investigation, cause the destruction of evidence, or the flight of an accomplice. Furthermore, reporting the general location, date, and time for a crime may identify victims against their will in cases of sexual assault, drug arrests, and burglary investigations. The informed views of those who deal with campus crime on a daily basis should be given their constitutional due rather than dictating to them the speculations of those who sit in Washington and presume to mandate a uniform reporting system for campus crimes. business National Police State 12 May 1998    1998 Ron Paul 50:5 Nevertheless, rather than abide by our constitutional limits, Congress today will likely pass H. Res. 423 and H.R. 3811 under suspension of the rules meaning, of course, they are “non-controversial.” House Resolution 423 pledges the House to “pass legislation that provides the weapons and tools necessary to protect our children and our communities from the dangers of drug addiction and violence”. Setting aside for the moment the practicality of federal prohibition laws, an experiment which failed miserably in the so-called “Progressive era”, the threshold question must be: “under what authority do we act?” There is, after all, a reason why a Constitutional amendment was required to empower the federal government to share jurisdiction with the States in fighting a war on a different drug (alcohol) — without it, the federal government had no constitutional authority. One must also ask, “if the general welfare and commerce clause were all the justification needed, why bother with the tedious and time-consuming process of amending the Constitution?” Whether any governmental entity should be in the “business” of protecting competent individuals against themselves and their own perceived stupidity is certainly debatable — Whether the federal government is empowered to do so is not. Being stupid or brilliant to one’s sole disadvantage or advantage, respectively, is exactly what liberty is all about. business The Indonesia Crisis 19 May 1998    1998 Ron Paul 52:8 Blame is misplaced. Rarely is the Central Bank and paper money blamed — unless a currency value goes to zero. In Indonesia the most vulnerable scapegoat has been the Chinese businessmen, now in threat of their lives and fleeing the country. business The Indonesia Crisis 22 May 1998    1998 Ron Paul 54:8 Blame is misplace. Rarely is the Central Bank and irredeemable paper money blamed — unless a currency value goes toward zero. In Indonesia the most vulnerable scapegoat has been the Chinese businessmen who are now in threat of their lives and fleeing the country. business Parent And Student Saving Account Act 18 June 1998    1998 Ron Paul 62:1 Mr. PAUL. Mr. Speaker, I appreciate the opportunity to explain why I oppose the Conference Report of the Parent and Student Saving Account Act (H.R. 2646). This, despite having been an original cosponsor, and having been quite active in seeking support, of the original House bill. I remain a strong supporter of education IRAs, which are a good first step toward restoring parental control of education by ensuring parents can devote more of their resources to their children’s education. However, this bill also raises taxes on businesses and expands federal control of education. I cannot vote for a bill that raises taxes and increases federal power, no matter what other salutary provisions are in the legislation. business Parent And Student Saving Account Act 18 June 1998    1998 Ron Paul 62:6 Therefore, I would still support this bill as a good first (albeit small) step toward restoring parental control of education if it did not further expand the federal control of education and raise taxes on American businesses! business Parent And Student Saving Account Act 18 June 1998    1998 Ron Paul 62:7 In order to offset the so-called “cost to government” (revenue loss) H.R. 2646 alters the rules by which businesses are taxed on employee vacation benefits. While I support efforts to ensure that tax cuts do not increase the budget deficit, the offset should come from cuts in wasteful, unconstitutional government programs, such as foreign aid and corporate welfare. Congress should give serious consideration to cutting unconstitutional programs such as “Goals 2000” which runs roughshod over the rights of parents to control their children’s education, as a means of offsetting the revenue loss to the treasury from this bill. A less than 3% cut in the National Endowment for the Arts budget would provide more funding than needed for the education IRA section of this legislation. business Parent And Student Saving Account Act 18 June 1998    1998 Ron Paul 62:10 It is a well-established fact that any increase in taxes on small businesses discourages job creation and, thus, increases unemployment! It is hard to see how discouraging job creation by raising taxes is consistent with the stated goal of H.R. 2646 — helping America’s families! business Parent And Student Saving Account Act 18 June 1998    1998 Ron Paul 62:13 This bill also creates a new federal program to use federal taxpayer funds to finance teacher testing and merit pay. Mr. Speaker, these may be valuable education reforms; however, the federal government should not be in the business of education engineering and using federal funds to encourage states to adopt a particular education program. business Parent And Student Saving Account Act 18 June 1998    1998 Ron Paul 62:17 In conclusion, although the Conference Report of Parent and Student Savings Account Act does take a step toward restoring parental control of education, it also raises job-destroying taxes on business. Furthermore, the conference report creates new education programs, including a new literacy program that takes a step toward nationalizing curriculum, as well as imposes yet another mandate on local schools. It violates the Tenth Amendment to the Constitution and reduces parental control over education. Therefore, I cannot, in good conscience, support this bill. I urge my colleagues to join me in opposing this bill and instead support legislation that returns education resources to American parents by returning to them monies saved by deep cuts in the federal bureaucracy, not by raising taxes on other Americans. business Drug-Free Workplace Act 23 June 1998    1998 Ron Paul 63:6 Private employers should already be free to require drug testing as a condition or term of employment. This legislation, however, unnecessarily brings the Federal Government into this process. The threat of liability law suits will dictate that drug testing will be prevalent in jobs where abstinence from drug use is most critical. However, setting up taxpayer-funded federal programs here are not only unnecessary but ill-advised. The newspapers are replete with examples of various lawsuits filed as a consequence of false positives resulting from both scientific and human errors. This legislation involves the Federal Government so far as to require drug testing be completed by only a few government-favored drug testers. This bill also requires those small businesses who participate to mandatorily test employees for drug and alcohol abuse. This proposition treads dangerously on grounds violative of the fourth amendment. While the bill of rights is a limitation upon actions by the Federal Government, it does not restrict the voluntary actions of private employers and their employees. The case becomes far less clear when the Federal Government involves itself in what should simply be a matter of private contract. In fact, government involvement may actually constitute a hindrance upon employers ability to adequately test those employees for whom they feel testing may be a necessary job component. business Drug-Free Workplace Act 23 June 1998    1998 Ron Paul 63:7 It should never go unnoticed that, as is so often the case in this Congress, constitutional authority is lacking for the further expansion of the Federal Government into the realm of small business and the means by which they hire reliable employees. The Report on H.R. 3583 cites Article I, Section 8, Clause 18 as the Constitutional authority. This clause reads “To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Office thereof” (emphasis added). The authority cited requires a foregoing Power which not only is missing from the authority cited for this bill but in my close examination of Article I, Section 8, simply seems not to exist. business Campaign Finance Reform 23 June 1998    1998 Ron Paul 64:6 I think there is a good reason for that. They were addressing the symptoms rather than the cause. And the cause is, of course, that big government is involved in every aspect of our lives, our personal lives, our economic lives, and also around the world, influencing almost every government in the world. So not only is there an incentive for business people to come here to influence our government, but there are labor groups that come to influence our government. We have international groups and other governments coming to influence us. And until that is settled, we can rest assured that we will continue to have these problems. business Every Currency Crumbles 24 June 1998    1998 Ron Paul 65:16 After the 1994 crisis involving the Mexican peso, the world’s financial establishment vowed to stave off a recurrence. Even as the experts delivered their speeches, however, Asian banks were overlending and Asian businesses were overborrowing; the credit-cum-currency eruption followed in short order. Naturally, officials and editorialists are now calling for even better fire prevention systems. business Issue Ads 14 July 1998    1998 Ron Paul 67:4 There has been a lot of talk here about soft money. I just often wonder about soft money. I know something about hard money. But this business of soft money and soft money automatically being bad is something we should think seriously about. Because so often when we are talking about soft money, we are talking about the people’s money, their money, their property. Sure, it is a first amendment right. But there is also a property rights issue here. When people have money, they have a right to spend it; and if they want to spend it on a voters guide, they certainly ought to be able to do this. business Patient Protection Act of 1998 24 July 1998    1998 Ron Paul 84:11 However, as much as I support H.R. 4250’s expansion of MSA’s, I equally object to those portions of the bill placing new federal standards on employer offered health care plans. Proponents of these standards claim that they will not raise cost by more than a small percentage point. However, even an increase of a small percentage point could force many marginal small businesses to stop offering health care for their employees, thus causing millions of Americans to lose their health insurance. This will then lead to a new round of government intervention. Unlike Medical Savings Accounts which remove the HMO bureaucracy currently standing between physicians and patients, the so-called patient protections portions of this bill add a new layer of government-imposed bureaucracy. For example, H.R. 4250 guarantees each patient the right to external and internal review of insurance company’s decisions. However, this does not empower patients to make their own decisions. If both external and internal review turn down a patient’s request for treatment, the average patient will have no choice but to accept the insurance companies decision. Furthermore, anyone who has ever tried to navigate through a government-controlled “appeals process” has reason to be skeptical of the claims that the review process will be completed in less than three days. Imposing new levels of bureaucracy on HMO’s is a poor substitute for returning to the American people the ability to decide for themselves, in consultation with their care giver, what treatments are best for them. Medical Savings Accounts are the best patient protection. business Dollars To The Classroom Act 18 September 1998    1998 Ron Paul 101:12 It will be claimed that this bill does not increase spending, it merely funds education spending at the current level by adding an adjustment to inflation to the monies appropriated for education programs in Fiscal Year 1999. However, predicting the rate of inflation is a tricky business. If, as is very likely, inflation is less than the amount dictated by this bill, the result will be an increase in education spending in real dollar terms. Still, that is beside the point, any spending increase, whether real or nominal, ought to be opposed. CBO reports that H.R. 3248 provides “additional authorization of “9.5B.” business Revamping The Monetary System 24 September 1998    1998 Ron Paul 102:15 This is a very dangerous way to go, but the movement is on. As I mentioned, it has already been written up in the New York Times. George Soros not too long ago, last week, came before the Committee on Banking and Financial Services making the same argument. What does he happen to be? A hedge fund operator, the same business as Long-Term Capital Management, coming to us and saying, “Oh, what you better do is protect the system.” business Don’t Fast-Track Free Trade Deal 25 September 1998    1998 Ron Paul 103:2 The fast-track procedure bill, in addition to creating an extra-constitutional procedure by which international agreements become ratified, sets general international economic policy objectives, re-authorizes “Trade Adjustment Assistance” welfare for workers who lose their jobs and for businesses which fail, and creates a new permanent position of Chief Agriculture Negotiator within the office of the United States Trade representative. The bill would reestablish the President’s extra-constitutional “executive authority” to negotiate “side agreements” such as those dealing with environmental and labor issues. Lastly, the bill “pays” the government’s “cost” of free trade by increasing taxes on a number of businesses which recently benefitted by a favorable judgment in federal tax court. business Don’t Fast-Track Free Trade Deal 25 September 1998    1998 Ron Paul 103:8 In truth, the bipartisan establishment’s fanfare of “free trade” fosters the opposite of genuine freedom of exchange. Whereas genuine free traders examine free markets from the perspective of the consumer (each individual), the mercantilist examines trade from the perspective of the power elite; in other words, from the perspective of the big business in concert with big government. Genuine free traders consider exports a means of paying for imports, in the same way that goods in general are produced in order to be sold to consumers. But the mercantilists want to privilege the government business elite at the expense of all consumers, be they domestic or foreign. business Don’t Fast-Track Free Trade Deal 25 September 1998    1998 Ron Paul 103:12 Because H.R. 2621 enacts an unconstitutional foreign policy procedure, furthers our nation down the internationally-managed (rather than free trade) path, sets general international economic policy objectives, re-authorizes “Trade Adjustment Assistance” welfare for workers who lose their jobs and for businesses which fail, potentially undermines U.S. sovereignty through MAI, and preserves the President’s executive authority to negotiate “side agreements.” As such, I must oppose the bill. business Medicare Home Health And Veterans Health Care Improvement Act Of 1998 9 October 1998    1998 Ron Paul 118:2 I am pleased that Congress is at last taking action to address the problems created by the IPS. Unless the IPS is reformed, efficient home care agencies across the country may be forced to close. This would raise Medicare costs, as more seniors would be forced to enter nursing homes or forced to seek care from a limited number of home health care agencies. In fact, those agencies that survive the IPS will have been granted a virtual monopoly over the home care market. Only in Washington could punishing efficient businesses and creating a monopoly be sold as a cost-cutting measure! business Education Debate 16 October 1998    1998 Ron Paul 121:4 This bill is the largest tax credit for education in the history of our great Republic and it returns the fundamental principal of a truly free economy to America’s education system: what the great economist Ludwig von Mises called “consumer sovereignty.” Consumer sovereignty simply means consumers decide who succeeds or fails in the market. Businesses that best satisfy consumer demand will be the most successful. Consumer sovereignty is the means by which the free market maximizes human happiness. business Supports Impeachment Of President Clinton 19 December 1998    1998 Ron Paul 125:5 The media and the administration has concentrated on the sexual nature of the investigation and this has done a lot to distract from everything else. The process has helped to make the President appear to be a victim of government prosecutorial overkill while ignoring the odious significance of the 1,000 FBI files placed for political reasons in the White House. If corruption becomes pervasive in any administration, yet no actual fingerprints of the president are found on indicting documents, there must come a time when the “CEO” becomes responsible for the actions of his subordinates. That is certainly true in business, the military, and in each congressional office. business Supports Impeachment Of President Clinton 19 December 1998    1998 Ron Paul 125:23 Two hundred million dollars were spent on an illegal act of war against innocent people. The pharmaceutical plant in Sudan was just that, a pharmaceutical plant, owned by a Muslim businessman who was standing up to the Islamic fundamentalists, the same people we pretend to oppose and use as scapegoats for all our Middle-Eastern policies. And now we have the controversial and unconstitutional waging of war in Iraq. business Congress Relinquishing The Power To Wage War 2 February 1999    1999 Ron Paul 4:4 The Founders of this great Nation abhorred tyranny and loved liberty. The power of the king to wage war, tax and abuse the personal rights of the American colonists drove them to rebel, win a revolution and codify their convictions in a new Constitution. It was serious business, and every issue was thoroughly debated and explained most prominently in the Federalist Papers. Debate about trade among the States and with other countries, sound money and the constraints on presidential power occupied a major portion of their time. business Congress Relinquishing The Power To Wage War 2 February 1999    1999 Ron Paul 4:7 Recent flagrant abuse of the power to wage war by modern-day Presidents, including the most recent episodes in Iraq, Afghanistan and Sudan, should prompt this Congress to revisit this entire issue of war powers. Certain abuses of power are obviously more injurious than others. The use of the FBI and the IRS to illegally monitor and intimidate citizens is a power that should be easy to condemn, and yet it continues to thrive. The illegal and immoral power to create money out of thin air for the purpose of financing a welfare-warfare state serving certain financial interests while causing the harmful business cycle is a process that most in Washington do not understand nor care about. These are ominous powers of great magnitude that were never meant to be permitted under the Constitution. business Congress Relinquishing The Power To Wage War 2 February 1999    1999 Ron Paul 4:10 Madam Speaker, something must be done. The cost of this policy has been great in terms of life and dollars and our constitutional system of law. Nearly 100,000 deaths occurred in the Vietnam and Korean wars, and if we continue to allow our Presidents to casually pursue war for the flimsiest of reasons, we may well be looking at another major conflict somewhere in the world in which we have no business or need to be involved. business Congress Relinquishing The Power To Wage War 2 February 1999    1999 Ron Paul 4:32 On another issue, privacy, privacy is the essence of liberty. Without it, individual rights cannot exist. Privacy and property are interlocked and if both are protected, little would need to be said about other civil liberties. If one’s home, church or business is one’s castle, and the privacy of one’s person, papers and effects are rigidly protected, all rights desired in a free society will be guaranteed. Diligently protecting the right to privacy and property guarantees religious, journalistic and political experience, as well as a free market economy and sound money. Once a careless attitude emerges with respect to privacy, all other rights are jeopardized. business Congress Relinquishing The Power To Wage War 2 February 1999    1999 Ron Paul 4:37 Eighty thousand armed Federal bureaucrats and law enforcement officers now patrol our land and business establishments. Suspicious religious groups are monitored and sometimes destroyed without due process of law, with little or no evidence of wrongdoing. Local and state jurisdiction is rarely recognized once the feds move in. business Congress Relinquishing The Power To Wage War 2 February 1999    1999 Ron Paul 4:45 The same can be argued about our churches, our businesses or any peaceful action we may pursue. Our personal activities are no one else’s business. We may have nothing to hide, but, if we are not careful, we have plenty to lose, our right to be left alone. business Introducing The Family Education Freedom Act 2 March 1999    1999 Ron Paul 11:2 The Family Education Freedom Act returns the fundamental principal of a truly free economy to America’s education system: what the great economist Ludwig von Mises called “consumer sovereignty.” Consumer sovereignty simply means consumers decide who succeeds or fails in the market. Businesses that best satisfy consumer demand will be the most successful. Consumer sovereignty is the means by which the free market maximizes human happiness. business Tribute To The Bay City Girls Softball Association 10 March 1999    1999 Ron Paul 15:3 With heroic community leaders like Jack Rice and Palmer Robbins and recent activists such as Mike Mariner, Judd Perry, J.B. Smith and Dennis Mueck the business of preparing and making available playing fields for the association has been a real community effort in Bay City. business Crisis in Kosovo 14 April 1999    1999 Ron Paul 25:9 Yesterday in the Washington Post an interesting article occurred on this subject, but it was not in the news section; it was in the business section. There was a headline yesterday in the Washington Post that said: Count Corporate America Among NATO’s Staunchest Allies. Very interesting article because it goes on to explain why so many corporations have an intense interest in making sure that the credibility of NATO is maintained, and they go on to explain that it is not just the arms manufacturers but the technology people who expect to sell weapons in Eastern Europe, in Yugoslavia, and they are very interested in making use of the NATO forces to make sure that their interests are protected. I think this is not the reason for us to go to war. business U.S. Foreign Policy and NATO’s Involvement in Yugoslavia and Kosovo 21 April 1999    1999 Ron Paul 29:24 Not much long-term good can come of a foreign policy designed to meddle and manipulate in places where we have no business or authority. It cannot help the cause of peace. business U.S. Foreign Policy and NATO’s Involvement in Yugoslavia and Kosovo 21 April 1999    1999 Ron Paul 29:38 Hopes as expressed by Ron Brown and his corporate friends were not extinguished by the unfortunate and mysterious Air Force crash while on their way to Bosnia to do business deals. Nobody even bothers to find out what U.S. policy condones business trips of our corporate leaders in a war zone on an Air Force aircraft. Corporate interests and the military-industrial complex continues to play a role in our Yugoslavian war policy. Corporate America loves NATO. business U.S. Foreign Policy and NATO’s Involvement in Yugoslavia and Kosovo 21 April 1999    1999 Ron Paul 29:41 The Persian Gulf and Yugoslavia obviously are much more economically intriguing than Rwanda and Sudan. There are clearly no business benefits for taking on the Chinese over its policy toward Tibet. Quite the contrary, we do business with China and subsidize her to boot. business Introduction of H.R. 1789 18 May 1999    1999 Ron Paul 49:3 Alan Greenspan, now Chairman of the Federal Reserve, described the “world of antitrust” as “reminiscent of Alice’s Wonderland: Everything seemingly is, yet apparently isn’t, simultaneously.” Antitrust is, according to Greenspan “a world in which competition is lauded as the basic axiom and guiding principle, yet, ‘too much’ competition is condemned as ‘cutthroat’. * * * A world in which actions designed to limit competition are branded as criminal when taken by businessmen, yet praised as ‘enlightened’ when initiated by government. A world in which the law is so vague that businessmen have no way of knowing whether specific actions will be declared illegal until they hear the judge’s verdict — after the fact.” And, of course, obscure, incoherent, and vague legislation can make legality unattainable by anyone, or at least unattainable without an unauthorized revision which itself impairs legality. business Introduction of H.R. 1789 18 May 1999    1999 Ron Paul 49:5 One function of the Sherman Act was to divert public attention from the certain source of monopoly — Government’s grant of exclusive privilege. But, as George Reisman, Professor of Economics at Pepperdine University’s Graziadio School of Business and Management in Los Angeles, explains “everyone, it seems, took for granted the prevailing belief that the essential feature of monopoly is that a given product or service is provided by just one supplier. On this view of things, Microsoft, like Alcoa and Standard Oil before it, belongs in the same category as the old British East India Company or such more recent instances of companies with exclusive government franchises as the local gas or electric company or the U.S. Postal Service with respect to the delivery of first class mail. What all of these cases have in common, and which is considered essential to the existence of monopoly, according to the prevailing view, is that they all represent instances in which there is only one seller. By the same token, what is not considered essential, according to the prevailing view of monopoly, is whether the sellers position depends on the initiation of physical force or, to the contrary, is achieved as the result of freedom of competition and the choice of the market.” business The Mailbox Privacy Protection Act 25 May 1999    1999 Ron Paul 52:5 This regulation also provides the Post Office with a list of all those consumers who have opted out of the Post Office’s mailbox service. Mr. Speaker, what business in America would not leap at the chance to get a list of their competitor’s customer names, addresses, social security numbers, and photographs? The Post Office could even mail advertisements to those who use private mail boxes explaining how their privacy would not be invaded if they used a government box. business The Mailbox Privacy Protection Act 25 May 1999    1999 Ron Paul 52:6 Coincidentally, this regulation will also raise the operating cost on the Post Office’s private competitors for private mailbox services. Some who have examined this bill estimate that it could impose costs as high as $1 billion on these small businesses during the initial six-month compliance period. The long-term costs of this rule are incalculable, but could conceivably reach several billion dollars in the first few years. This may force some of these businesses into bankruptcy. business H.J. Res. 55, The Mailbox Privacy Protection Act 7 June 1999    1999 Ron Paul 55:1 Mr. PAUL. Mr. Speaker, because this is small business appreciation week I would like to remind my colleagues of the importance of enacting HJ Res 55, the Mailbox Privacy Protection Act. HJ Res 55 repeals recently enacted Post Office regulations requiring Commercial Mail Receiving Agencies (CMRAs) to collect personal information about their customers, such as their name, address, social security number, and photograph. These regulations not only force small businesses to intrude into their customer’s privacy, they could impose costs as high as $1 billion on small businesses during the initial six-month compliance period. The long term costs of this rule are incalculable, but could conceivably reach several billion dollars in the first few years. Some small businesses may even be forced into bankruptcy. business H.J. Res. 55, The Mailbox Privacy Protection Act 7 June 1999    1999 Ron Paul 55:2 Businesses like Mailboxes, etc., must turn the collected information over to the Post Office. Mr. Speaker, what business in America would not leap at the chance to force their competitors to provide them with their customer names, addresses, social security numbers, and photographs? The Post Office could even mail advertisements to those who use private mail boxes explaining how their privacy would not be invaded if they used a government box. business H.J. Res. 55, The Mailbox Privacy Protection Act 7 June 1999    1999 Ron Paul 55:4 Mr. Speaker, Congress must do more than talk about how it appreciates small business, it must work to lift the burden of big government from America’s job-creating small businesses. Passing HJ Res 55 and protecting Commercial Mail Receiving Agencies from the Post Offices’ costly and anti-competitive regulations would be a great place to start. business Campaign Finance Reform 14 June 1999    1999 Ron Paul 58:3 There is tremendous incentive for every special interest group to influence government. Every individual, bank or corporation that does business with government invests plenty in influencing government. Lobbyists spend over $100 million per month trying to influence Congress. Taxpayers’ dollars are endlessly spent by bureaucrats in their effort to convince Congress to protect their own empires. Government has tremendous influence over the economy and financial markets through interest rate controls, contracts, regulations, loans and grants. Corporations and others are forced to participate in the process out of greed, as well as self defense, since that is the way the system works. business Campaign Finance Reform 14 June 1999    1999 Ron Paul 58:4 Equalizing competition and balancing powers such as between labor and business is a common practice. As long as this system remains in place, the incentive to buy influence will continue. business Campaign Finance Reform 14 June 1999    1999 Ron Paul 58:16 There’s tremendous incentive for every special interest group to influence government. Every individual, bank or corporation that does business with government invests plenty in influencing government. Lobbyists spend over a hundred million dollars per month trying to influence Congress. Taxpayers dollars are endlessly spent by bureaucrats in their effort to convince Congress to protect their own empires. Government has tremendous influence over the economy, and financial markets through interest rate controls, contracts, regulations, loans, and grants. Corporations and others are “forced” to participate in the process out of greed as well as self defense— since that’s the way the system works. Equalizing competition and balancing power such as between labor and business is a common practice. As long as this system remains in place, the incentive to buy influence will continue. business Africa Growth And Opportunity Act 16 July 1999    1999 Ron Paul 77:7 The Fast Track initiative highlighted in USA ENGAGE’s Congressional scorecard has its own particular set of Constitutional problems, but the free-trade arguments are most relevant and illustrative here. The fast-track procedure bill sets general international economic policy objectives, re-authorizes “Trade Adjustment Assistance” welfare for workers who lose their jobs and for businesses which fail (a gentler, kinder “welfarist” form of protectionism), and creates a new permanent position of Chief Agriculture Negotiator within the office of the United States Trade Representative. Lastly, like today’s legislative mishap, the bill “pays” the government’s “cost” of free trade by increasing taxes on a set of taxpayers further removed from those corporatists who hope to gain by engineering favorable international trade agreements. business Africa Growth And Opportunity Act 16 July 1999    1999 Ron Paul 77:10 In truth, the bipartisan establishment’s fan-fare of “free trade” fosters the opposite of genuine freedom of exchange. Whereas genuine free traders examine free markets from the perspective of the consumer (each individual), the mercantilist examines trade from the perspective of the power elite; in other words, from the perspective of the big business in concert with big government. Genuine free traders consider exports a means of paying for imports, in the same way that goods in general are produced in order to be sold to consumers. The mercantilists want to privilege the government business elite at the expense of all consumers — be they domestic or foreign. business Africa Growth And Opportunity Act 16 July 1999    1999 Ron Paul 77:14 To the extent America is non-competitive, it is not because of a lack of innovation, ingenuity, or work ethic. Rather, it is largely a function of the overburdening of business and industry with excessive taxation and regulation. Large corporations, of course, greatly favor such regulation because it disadvantages their smaller competitors who either are not in a position to maintain the regulatory compliance department due to their limited size or, equally important, unable to “capture” the federal regulatory agencies whose regulation will be written to favor the politically adept and disfavor the truly productive. The rub comes when other governments engage in more laissez faire approaches thus allowing firms operating within those jurisdictions to become more competitive. It will be the products of these less-taxed, less-regulated firms which will be the consumers’ only hope to maintain their standard of living in a climate of domestic production burdened by regulation and taxation. The consumers’ after-tax income becomes lower and lower while relative prices of domestic goods become higher and higher. Free trade which provides the poor consumer an escape hatch, of course, is not the particular brand of “free trade” espoused by the international trade organizations whose purpose it is to exclude the more efficient competitors internationally in the same way federal regulatory agencies have been created and captured to do the equivalent task domestically. business OPIC 2 August 1999    1999 Ron Paul 83:8 The little people are not coming to us today begging us to vote against this amendment. It is the corporations, the giant corporations, not our small mom-and-pop businesses. They are not coming and saying, please, please protect OPIC. No, it is the giant corporations that have been able to manipulate and get benefits from programs like this. business Fungible Birth Control Funds 2 August 1999    1999 Ron Paul 85:5 So once we send money to a country for any reason, we endorse what they do. Therefore, we should be rather cautious. As a matter of fact, if we were cautious enough we would not be in the business of taking money at the point of a gun from our American taxpayer, doing things that they find abhorrent around the world and imposing our will and our standards on them. business Export-Import Bank, Overseas Private Investment Corp. and Trade And Development Agency 2 August 1999    1999 Ron Paul 86:5 Last week we had a very important vote on trade. It was hotly debated over human rights issues. I voted to trade with China because I believe it is proper to trade with people. We are less likely to fight with them. And in this institution, too often we use our terms carelessly and we talk about free trade as being something which is managed trade. Free trade here generally means that we will have the NAFTA people managing trade, the World Trade Organization managing trade, and we will subsidize our businesses. business Foreign Subsidies 2 August 1999    1999 Ron Paul 87:4 We take taxpayers’ money. We take taxpayers’ guarantee. We give them to those huge five corporations that do 67 percent of the business. We give them the money. But where do the goods go? Do the goods go to the American taxpayers? No. They get all of the liabilities. The subsidies help the Chinese. business Campaign Finance Reform 14 September 1999    1999 Ron Paul 97:3 There’s tremendous incentive for every special interest group to influence government. Every individual, bank or corporation that does business with government invests plenty in influencing government. Lobbyists spend over a hundred million dollars per month trying to influence Congress. Taxpayers dollars are endlessly spent by bureaucrats in their effort to convince Congress to protect their own empires. Government has tremendous influence over the economy, and financial markets through interest rate controls, contracts, regulations, loans, and grants. Corporations and others are ‘forced’ to participate in the process out of greed as well as self-defense — since that’s the way the system works. Equalizing competition and balancing power such as between labor and business is a common practice. As long as this system remains in place, the incentive to buy influence will continue. business Health Care Reform: Treat The Cause, Not The Symptom 4 October 1999    1999 Ron Paul 103:23 The ERISA law requiring businesses to provide particular programs for their employees should be repealed. The tax codes should give equal tax treatment to everyone whether working for a large corporation, small business, or is self employed. Standards should be set by insurance companies, doctors, patients, and HMOs working out differences through voluntary contracts. For years it was known that some insurance policies excluded certain care and this was known up front and was considered an acceptable provision since it allowed certain patients to receive discounts. The federal government should defer to state governments to deal with the litigation crisis and the need for contract legislation between patients and medical providers. Health care providers should be free to combine their efforts to negotiate effectively with HMOs and insurance companies without running afoul of federal anti-trust laws — or being subject to regulation by the National Labor Relations Board (NLRB). Congress should also remove all federally-imposed roadblocks to making pharmaceuticals available to physicians and patients. Government regulations are a major reason why many Americans find it difficult to afford prescription medicines. It is time to end the days when Americans suffer because the Food and Drug Administration (FDA) prevented them from getting access to medicines that where available and affordable in other parts of the world! business Quality Care For The Uninsured Act 6 October 1999    1999 Ron Paul 104:19 The ERISA laws requiring businesses to provide particular programs for their employees should be repealed. The tax codes should give equal tax treatment to everyone whether working for a large corporation, small business, or is self employed. Standards should be set by insurance companies, doctors, patients, and HMOs working out differences through voluntary contracts. For years it was known that some insurance policies excluded certain care and this was known up front and was considered an acceptable provision since it allowed certain patients to receive discounts. The federal government should defer to state governments to deal with the litigation crisis and the need for contract legislation between patients and medical providers. Health care providers should be free to combine their efforts to negotiate effectively with HMOs and insurance companies without running afoul of federal anti-trust laws — or being subject to regulation by the National Labor Relations Board (NLRB). Congress should also remove all federally-imposed roadblocks to making pharmaceuticals available to physicians and patients. Government regulations are a major reason why many Americans find it difficult to afford prescription medicines. It is time to end the days when Americans suffer because the Food and Drug Administration (FDA) prevented them from getting access to medicines that were available and affordable in other parts of the world! business Academic Achievement for All Students Freedom and Accountability Act (STRAIGHT “A’s”) 21 October 1999    1999 Ron Paul 109:7 The Family Education Freedom Act returns the fundamental principal of a truly free economy to America’s education system: what the great economist Ludwig von Mises called “consumer sovereignty.” Consumer sovereignty simply means consumers decide who succeeds or fails in the market. Businesses that best satisfy consumer demand will be the most successful. Consumer sovereignty is the means by which the free society maximizes human happiness. business Conference Report On S. 900, Gramm-Leach-Bliley Act 4 November 1999    1999 Ron Paul 113:8 Government regulations present the greatest threat to privacy and consumers’ loss of control over their own personal information. In the private sector, individuals protect their financial privacy as an integral part of the market process by providing information they regard as private only to entities they trust will maintain a degree of privacy of which they approve. Individuals avoid privacy violators by “opting out” and doing business only with such privacy-respecting companies. business Good Time For Congress To Reassess Antitrust Laws 8 November 1999    1999 Ron Paul 114:5 In a free market, the consumer is king, not the businessman. The regulators hate both and relish their role of making sure the market is fair according to their biased standards. business Good Time For Congress To Reassess Antitrust Laws 8 November 1999    1999 Ron Paul 114:9 Only blind resentment drives the economic planners and condemns business success, good products, low prices, and consumer satisfaction while undermining the system that has provided so much for so many. business Good Time For Congress To Reassess Antitrust Laws 8 November 1999    1999 Ron Paul 114:11 To help rectify the situation, Congress should first stop all assistance to business, no more corporate welfare, no bailouts like we saw to Lockheed, Chrysler, Long-Term Capital Management and many others. business U.S. Foreign Policy of Military Interventionism Brings Death, Destruction and Loss of Life 17 November 1999    1999 Ron Paul 115:6 Sanctions are one thing, but seizures of bank assets of any related business to the Taliban government infuriates and incites the radicals to violence. There is no evidence that this policy serves the interests of world peace. It certainly increases the danger to all Americans as we become the number one target of terrorists. Conventional war against the United States is out of the question, but acts of terrorism, whether it is the shooting down of a civilian airliner or bombing a New York City building, are almost impossible to prevent in a reasonably open society. business Statement on OSHA Home Office Regulations January 28, 2000    2000 Ron Paul 1:4 Mr. Chairman, the fact that OSHA would even consider exercising regulatory authority over any part of a private home shows just how little respect OSHA has for private property. Private property, of course, was considered one of the bulwarks of liberty by our nation’s founding fathers, and has been seriously eroded in this country. While it is heartening that so many members of Congress have expressed their displeasure with OSHA over this issue, I am concerned that most of the debate has focused on the negative consequences of this regulation instead of on the question of whether OSHA has the constitutional authority to regulate any part of a private residence (or private business for that matter). The economic and social consequences of allowing federal bureaucrats to regulate home offices certainly should be debated. However, I would remind my colleagues that conceding the principle that the only way to protect worker safety is by means of a large bureaucracy with the power to impose a “one-size fits all” model on every workplace in America ensures that defenders of the free market will be always on the defensive, trying to reign in the bureaucracy from going “too far” rather than advancing a positive, pro-freedom agenda. Furthermore, many companies are experiencing great success at promoting worker safety by forming partnerships with their employees to determine how best to create a safe workplace. This approach to worker safety is both more effective, and constitutionally sound, than giving OSHA bureaucrats the power to, for example, force landscapers to use $200 gas cans instead of $5 cans or fining a construction company $7,000 dollars because their employees jumped in a trench to rescue a trapped man without first putting on their OSHA-approved hard hats; or fine a company because it failed to warn employees not to eat copier toner! business A Republic, If You Can Keep It 31 January 2000    2000 Ron Paul 2:79 The practice of medicine is now a government managed care system and very few Americans are happy with it. Not only is there little effort to extricate the Federal Government from the medical care business but the process of expanding the government’s role continues unabated. At the turn of the 19th century, it was not even considered a possibility that medical care was the responsibility of the Federal Government. Since Lyndon Johnson’s Great Society programs of the 1960s, the role of the Federal Government in delivering medical care has grown exponentially. Today the Federal Government pays more than 60 percent of all the medical bills and regulates all of it. The demands continue for more free care at the same time complaints about the shortcomings of managed care multiply. Yet it is natural to assume that government planning and financing will sacrifice quality care. It is now accepted that people who need care are entitled to it as a right. This is a serious error in judgment. business A Republic, If You Can Keep It 31 January 2000    2000 Ron Paul 2:85 Our attitude toward foreign policy has dramatically changed since the beginning of the century. From George Washington through Grover Cleveland, the accepted policy was to avoid entangling alliances. Although we spread our wings westward and southward as part of our manifest destiny in the 19th century, we accepted the Monroe Doctrine notion that European and Asians should stay out of our affairs in this hemisphere and we theirs. McKinley, Teddy Roosevelt, and the Spanish American war changed all that. Our intellectual and political leaders at the turn of the last century brought into vogue the interventionist doctrine setting the stage for the past 100 years of global military activism. From a country that once minded its own business, we now find ourselves with military personnel in more than 130 different countries protecting our modern day American empire. Not only do we have troops spread to the four corners of the Earth, we find Coast Guard cutters in the Mediterranean and around the world, our FBI in any country we choose, and the CIA in places Congress does not even know about. It is a truism that the state grows and freedom is diminished in times of war. Almost perpetual war in the 20th century has significantly contributed to steadily undermining our liberties while glorifying the state. business A Republic, If You Can Keep It 31 January 2000    2000 Ron Paul 2:100 The naive and uninformed fully endorse the current system because the benefits are readily available, while the disadvantages are hidden, delayed or not understood. The politicians, central bankers, commercial banks, big business borrowers, all believe their needs justify such a system. business A Republic, If You Can Keep It 31 January 2000    2000 Ron Paul 2:111 There was a good reason the Federal Reserve rushed to rescue long-term capital management with a multibillion dollar bailout: It was unadulterated fear that the big correction was about to begin. Up until now, feeding the credit bubble with even more credit has worked, and is the only tool they have to fight the business cycle, but eventually control will be lost. business A Republic, If You Can Keep It 31 January 2000    2000 Ron Paul 2:113 Not everyone benefits from the largesse of government spending programs or systematic debasement of the currency. The middle class, those not on welfare and not in the military industrial complex suffer the most from rising prices and job losses in the correction phase of the business cycle. business A Republic, If You Can Keep It – Part 2 2 February 2000    2000 Ron Paul 5:32 One hundred years ago it was generally conceded that one extremely important function of government was to enforce contracts made voluntarily in the marketplace. Today, government notoriously interferes with almost every voluntary economic transaction. Consumerism, labor laws, wage standards, hiring and firing regulations, political political correctness, affirmative action, the Americans with Disability Act, the Tax Code, and others place a burden on the two parties struggling to transact business. business A Republic, If You Can Keep It – Part 2 2 February 2000    2000 Ron Paul 5:35 When the business cycle turns down, all the regulations and laws that interfere with economic and personal transactions will not be as well tolerated, and then the true cost will become apparent. It is under the conditions of a weak economy that such government interference generates a reaction to the anger over the rules that have been suppressed. business A Republic, If You Can Keep It – Part 2 2 February 2000    2000 Ron Paul 5:88 The third way of friendly welfarism or soft fascism, where government and businesses are seen as partners, undermines and sets the stage for authoritarian socialism. Personal liberty cannot be preserved if we remain on the course at which we find ourselves at the close of the 20th century. business SENIOR CITIZENS’ FREEDOM TO WORK ACT OF 1999 March 1, 2000    2000 Ron Paul 11:1 # Mr. PAUL. Mr. Speaker, I am pleased to offer my support to the Senior Citizens Freedom to Work Act (H.R. 5), which repeals the Social Security ‘earnings limitations.’ During a time when an increasing number of senior citizens are able to enjoy productive lives well past retirement age and businesses are in desperate need of experienced workers, it makes no sense to punish seniors for working. Yet the federal government does just that by deducting a portion of seniors’ monthly Social Security check should they continue to work and earn income above an arbitrary government-set level. business INTRODUCING LEGISLATION CALLING FOR THE UNITED STATES TO WITHDRAW FROM THE WORLD TRADE ORGANIZATION March 1, 2000    2000 Ron Paul 12:2 Last week, the Wall Street Journal reported that the United States was dealt a defeat in a tax dispute with the European Union by an unelected board of international bureaucrats. It seems that, according to the WTO, $2.2 billion of United States tax reductions for American businesses violates WTO’s rules and must be eliminated by October 1 of this year. business INTRODUCING LEGISLATION CALLING FOR THE UNITED STATES TO WITHDRAW FROM THE WORLD TRADE ORGANIZATION March 1, 2000    2000 Ron Paul 12:9 As a representative of the people of the 14th District of Texas and a Member of the United States Congress sworn to uphold the Constitution of this country, it is not my business to tell other countries whether or not they should be in the World Trade Organization. They can toss their own sovereignty out the window if they choose. I cannot tell China or Britain or anybody else that they should or should not join the World Trade Organization. That is not my constitutional role. business MINIMUM WAGE INCREASE ACT March 9, 2000    2000 Ron Paul 15:5 * Mr. Speaker, I do not wish my opposition to this bill to be misconstrued as counseling inaction. Quite the contrary, Congress must enact ambitious program of tax cuts and regulatory reform to remove government-created obstacles to job growth. For example, I would have supported the reforms of the Fair Labor Standards Act contained in this bill had those provisions been brought before the House as separate pieces of legislation. Congress should also move to stop the Occupational Safety and Health Administration (OSHA) from implementing its misguided and unscientific ‘ergonomics’ regulation. Congress should also pass my H.J. Res. 55, the Mailbox Privacy Protection Act, which repeals Post Office regulations on the uses of Commercial Mail Receiving Agencies (CMRAs). Many entrepreneurs have found CMRAs a useful tool to help them grow their businesses. Unless Congress repeals the Post Office’s CMRA regulations, these businesses will be forced to divert millions of dollars away from creating new jobs into complying with postal regulations! business MINIMUM WAGE INCREASE ACT March 9, 2000    2000 Ron Paul 15:8 * My education agenda will once again make America’s education system the envy of the world by putting the American people back in control of education and letting them use more of their own resources for education at all levels. Combining education tax cuts, for K-12, higher education and job training, with regulatory reform and small business tax cuts such as those Congress passed earlier today is the best way to help all Americans, including those currently on the lowest rung of the economic ladder, prosper. business MINIMUM WAGE INCREASE ACT March 9, 2000    2000 Ron Paul 15:9 * However, Mr. Speaker, Congress should not fool itself into believing that the package of small business tax cuts will totally compensate for the damage inflicted on small businesses and their employees by the minimum wage increase. This assumes that Congress is omnipotent and thus can strike a perfect balance between tax cuts and regulations so that no firm, or worker, in the country is adversely effected by federal policies. If the 20th Century taught us anything it was that any and all attempts to centrally plan an economy, especially one as large and diverse as America’s, are doomed to fail. business 2000 EMERGENCY SUPPLEMENTAL APPROPRIATIONS ACT March 29, 2000    2000 Ron Paul 21:13 Even those who build helicopters are pretty blunt. One lobbyist said, ‘It is business for us, and we are as aggressive as anybody. I am just trying to sell helicopters.’ business 2000 EMERGENCY SUPPLEMENTAL APPROPRIATIONS ACT March 29, 2000    2000 Ron Paul 21:15 But the American people, if they were asked, they would decline. A recent poll by Zogby showed that, essentially, 70 percent of the American people answered no to this particular question: ‘Should the U.S. help defend militarily such-and-such country even though it could cost American soldiers their lives?’ It varied depending on which country. But, basically, 65 to 75 percent of the American people said no. The American people want us to mind our own business and not be the policeman of the world. business WHAT IS FREE TRADE? May 2, 2000    2000 Ron Paul 29:20 Most individuals that I know who promote free trade around Washington, D.C., do not really either understand what free trade is or they do not really endorse it. And they are very interested in the management aspect, because some of the larger companies have a much bigger clout with the World Trade Organization than would the small farmers, small rancher or small businessman because they do not have the same access to the World Trade Organization. business Statement of Ron Paul on the Misuse of the Social Security Number May 11, 2000    2000 Ron Paul 35:6 Certain well-meaning members of Congress are focusing on the use of the Social Security number by private businesses. However, this ignores the fact that the private sector was only following the lead of the federal government in using the Social Security number as an ID. In many cases, the use of the Social Security number by private business is directly mandated by the government, for example, banks use Social Security numbers as an identifier for their customers because the federal government required them to use the Social Security number for tax reporting purposes. Once the federal government stops using the Social Security number as an identifier, the majority of private businesses, whose livelihood depends on pleasing consumers, will respond to their customers demands and stop using the Social Security number and other standard identifiers business Statement of Ron Paul on the Misuse of the Social Security Number May 11, 2000    2000 Ron Paul 35:7 I hope that we in Congress would not once again allow a problem Congress created to become an excuse for disregarding the constitutional limitations of federal police powers or imposing new mandates on businesses in the name of “protecting privacy.” Federal mandates on private businesses may harm consumers by preventing business from offering improved services such as the ability to bring new products that consumers would be interested in immediately to the consumers’ attention. These mandates will also further interfere with matters that should be resolved by private contracts. business Statement of Ron Paul on the Misuse of the Social Security Number May 11, 2000    2000 Ron Paul 35:9 Finally, I would remind my colleagues that no private organization has the power to abuse personal liberty on as massive a scale as the federal government. After all, consumers have the right to refuse to do business with any private entity that asks for a Social Security number, whereas citizens cannot lawfully refuse to deal with government agencies. Furthermore, most of the major invasions of privacy, from the abuse of IRS files to the case of the Medicare clerk who sold the names of Medicare patients to an HMO, to the abuse of the FBI by administrations of both parties have occurred by government agents. Therefore Congress should focus on the threat to liberty caused by the federal government’s use of uniform identifiers. business Manipulating Interest Rates May 15, 2000    2000 Ron Paul 36:3 * Business cycles are well understood. They are not a natural consequence of capitalism but instead result from central bank manipulation of credit. This is especially true when the monetary unit is undefinable as it is in a fiat monetary system, such as ours. Therefore, it is correct to place blame on the Federal Reserve for all depressions/recessions, inflation, and much of the unemployment since 1913. The next downturn, likewise, will be the fault of the Fed. business Statement of Ron Paul on the Freedom and Privacy Restoration Act (HR 220) May 18, 2000    2000 Ron Paul 38:13 Certain members of Congress are focusing on the use of the Social Security number and other identifiers by private businesses. However, this ignores the fact that the private sector was only following the lead of the federal government in using the Social Security number as an ID. In many cases, the use of the Social Security number by private business is directly mandated by the government, for example, banks use Social Security numbers as an identifier for their customers because the federal government required them to use the Social Security number for tax reporting purposes. Once the federal government stops using the Social Security number as an identifier, the majority of private businesses, whose livelihood depends on pleasing consumers, will respond to their customers demands and stop using the Social Security number and other standard identifiers in dealing with them. business Statement of Ron Paul on the Freedom and Privacy Restoration Act (HR 220) May 18, 2000    2000 Ron Paul 38:14 I hope that we in Congress would not once again allow a problem Congress created to become an excuse for disregarding the constitutional limitations of federal police powers or imposing new mandates on businesses in the name of “protecting privacy.” Federal mandates on private businesses may harm consumers by preventing business from offering improved services such as the ability to bring new products that consumers would be interested in immediately to the consumers’ attention. These mandates will also further interfere with matters that should be resolved by private contracts. business Permanent Normal Trade Relations May 24, 2000    2000 Ron Paul 40:5 * In truth, the bipartisan establishment’s fanfare of ‘free trade’ fosters the opposite of genuine freedom of exchange. Whereas genuine free traders examine free markets from the perspective of the consumer (each individual), the merchantilist examines trade from the perspective of the power elite; in other words, from the perspective of the big business in concert with big government. Genuine free traders consider exports a means of paying for imports, in the same way that goods in general are produced in order to be sold to consumers. But the mercantilists want to privilege the government business elite at the expense of all consumers, be they domestic or foreign. This new PNTR bill, rather than lowering government imposed barriers to trade, has become a legislative vehicle under which the United States can more quickly integrate and cartelize government in order to entrench the interventionist mixed economy. business Medical Privacy Amendment June 13, 2000    2000 Ron Paul 41:9 So my effort here in limiting this development of a universal medical identifier is to keep the Federal Government out of this business. It is too easy for abuse of this type of information to occur. We have heard that the various administrations over the years have abused records kept in the IRS as well as the FBI. This would just be another source of information that individuals could use in a negative fashion. business U.S. Membership In The Wprld Trade Organization June 19, 2000    2000 Ron Paul 44:7 Interestingly enough, in the past, if we dealt with trade matters, they came to the U.S. Congress to change the law; they came to elected representatives to deal with this, and that is the way it should be under the Constitution. Today, though, the effort has to be directed through our world trade representative, our international trade representative, who then goes to bat for our business people at the WTO. So is it any surprise that, for instance, the company of Chiquita Banana, who has these trade wars going on in the trade fights, wants somebody in the administration to fight their battle, and just by coincidence, they have donated $1.5 million in their effort to get influence? business Hostettler Amendment to Commerce, Justice, State, Judiciary Appropriations Act June 26, 2000    2000 Ron Paul 59:10 * These requirements have been voted on in the past in the House and Senate and thus far have not passed either house. It is all to clear that the agenda of the Clinton Administration has always been anti-second amendment, and thus, they have found a way to implement their policies by forcing a gun manufacturer to comply regardless of their legal legitimacy. The Federal government and executive branch have no business — and have no authority — to mandate how a company runs its business. business THE FAMILY HEALTH TAX CUT ACT 29 June 2000    2000 Ron Paul 62:3 * As an OB-GYN who has had the privilege of delivering more than four thousand babies, I know how important it is that parents have the resources to provide adequate health care for their children. The inability of many working Americans to provide health care for their children is rooted in one of the great inequities of the tax code: Congress’ failure to allow individuals the same ability to deduct health care costs that it grants to businesses. As a direct result of Congress’ refusal to provide individuals with health care related tax credits, parents whose employers do not provide health insurance have to struggle to provide health care for their children. Many of these parents work in low-income jobs; oftentimes their only recourse to health care is the local emergency room. business Minding Our Own Business Regarding Colombia Is In The Best Interest Of America September 6, 2000    2000 Ron Paul 69:8 Let us think seriously about our foreign policy, and hopefully someday we will pursue a policy in the best interest of America by minding our own business. business United States Holocaust Memorial Museum September 7, 2000    2000 Ron Paul 70:1 * Mr. Chairman, I rise today in hesitant opposition to H.R. 4115, the U.S. Holocaust Memorial Museum Authorization Act. We as vigilant Americans must never forget the horrific lessons of the past and those attendant consequences of corporatism, fascism, and tyrannical government; that is, governmental deprivation of individual rights. A government which operates beyond its proper limits of preserving liberty never bodes well for individual rights to life, liberty and property. Particularly, Adolph Hitler’s tyrannical regime is most indicative of the necessary consequences of a government dominated by so-called ‘government-business’ partnerships, gun-confiscation schemes, protectionism, and abandonment of speech and religious freedom in the name of ‘compelling government interests.’ business FSC Repeal And Extra-Territorial Income Exclusion Act Of 2000 September 12, 2000    2000 Ron Paul 73:21 * The one group of Americans that seem to get little attention are those importers whose businesses depend on imports and thus get hit by huge tariffs. When 100 to 200 percent tariffs are placed on an imported product, this virtually puts these corporations out of business. business CHILDHOOD CANCER AWARENESS MONTH September 21, 2000    2000 Ron Paul 79:2 * The bill will be particularly helpful to those parents whose employers cannot afford to provide their employees’ health insurance. Often-times those employees work in low-income jobs and thus must struggle to provide adequate health care for their children. This burden is magnified when the child needs special care to cope with cancer or a physical disability. Yet, thanks to Congress’ refusal to grant individuals the same tax breaks for health-care expenses it grants businesses, these hard-working parents receive little or no tax relief to help them cope with the tremendous expenses of caring for a child requiring for a child requiring long-term or specialized care. business END-OF-SESSION ISSUES October 11, 2000    2000 Ron Paul 85:5 Consumer sovereignty simply means consumers decide who succeeds or fails in the market. Businesses that best satisfy consumer demand will be the most successful. Consumer sovereignty is the means by which the free market maximizes human happiness. business WARNING ABOUT FOREIGN POLICY AND MONETARY POLICY October 12, 2000    2000 Ron Paul 86:7 The poor like it because they seem to get welfare benefits from it; and certainly the rich like it, because it motivates and stimulates their businesses; and politicians like it, because it takes care of deficits and it stimulates the economy. business CONFERENCE REPORT ON H.R. 2615, CERTIFIED DEVELOPMENT COMPANY PROGRAM IMPROVEMENTS ACT OF 2000 October 26, 2000    2000 Ron Paul 92:7 * Similarly, today’s small business tax relief measures are commendable. We place a huge regulatory and tax burden on our nation’s small employers, many of which find it difficult simply to comply with the tax laws. I support any efforts to reduce taxes and regulations on our small entrepreneurial employers. business CONFERENCE REPORT ON H.R. 2615, CERTIFIED DEVELOPMENT COMPANY PROGRAM IMPROVEMENTS ACT OF 2000 October 26, 2000    2000 Ron Paul 92:9 * The small business tax relief in this bill is more than outweighed by the provisions raising the federally-mandated minimum wage. While I certainly understand the motivation to help lower wage workers, the reality is that a minimum wage hike hurts lower income Americans the most. When an employer cannot afford to pay a higher wage, the employer has no choice but to hire less workers. As a result, young people with fewer skills and less experience find it harder to obtain an entry-level job. Raising the minimum wage actually reduces opportunities and living standards for the very people the administration claims will benefit from this legislation! It’s time to stop fooling ourselves about the basic laws of economics, and realize that Congress cannot legislate a higher standard of living. Congress should not allow itself to believe that the package of small business tax cuts will fully compensate businesses and their employees for the damage inflicted by a minimum wage hike. Congress is not omnipotent; we cannot pretend to strike a perfect balance between tax cuts and wage mandates so that no American businesses or workers are harmed. It may make my colleagues feel good to raise the minimum wage, but the real life consequences of this bill will be felt by those who can least afford diminished job opportunities. business CONFERENCE REPORT ON H.R. 2615, CERTIFIED DEVELOPMENT COMPANY PROGRAM IMPROVEMENTS ACT OF 2000 October 26, 2000    2000 Ron Paul 92:12 * We should not change our tax laws at the behest of any body other than the U.S. Congress. If we want to help American businesses, we should simply stop taxing foreign source income. Today’s FSC measure will not appease the EU; they already have indicated that the House version of this bill is unsatisfactory to them. Worst of all, this measure gives the President further unconstitutional executive order powers to make changes when demanded by the WTO in the future. Never mind that the legislative power is supposed to reside solely with Congress. We simply cede our legislative authority to the WTO when we pass this measure, and it’s shameful that it likely will go unnoticed by the American people. We ought to tell them exactly what we are doing to national sovereignty when we pass this last-minute mixed bag of tax measures. business FSC Repeal and Extraterritorial Income Exclusion Act of 2000 14 November 2000    2000 Ron Paul 94:19 The one group of Americans that seem to get little attention are those importers whose businesses depend on imports and thus get hit by huge tariffs. When 100 to 200 percent tariffs are placed on an imported product, this virtually puts these corporations out of business. The one thing for certain is this process is not free trade; this is international managed trade by an international governmental body. The odds of coming up with fair trade or free trade under WTO are zero. Unfortunately, even in the language most commonly used in the Congress in promoting “free trade” it usually involves not only international government managed trade but subsidies as well, such as those obtained through the Import/Export Bank and the Overseas Private Investment Corporation and various other methods such as the Foreign Aid and our military budget. business ECONOMIC UPDATE December 4, 2000    2000 Ron Paul 97:2 * I do not believe either should be blamed. I think we should deal with the real cause of the business cycle, and that is the Federal Reserve system. The FederalReserve system causes and brings about a boom period in a cycle, but it also brings about the bust. Because the bust, the correction, is inevitable consequence of the boom caused by unduly inflating the money supply. business ECONOMIC UPDATE December 4, 2000    2000 Ron Paul 97:4 * The only way the Federal Reserve can lower interest rates is by inflating the money supply, increasing the money supply, which is the cause of our problems. So if the cause of our problem is the inflation, increasing the money supply which causes a boom, we can hardly solve our problems by further inflating. And then, too, there is a period of time in the business cycle where inflating the money supply or lowering interest rates do not get the response that many people hope for. business ECONOMIC UPDATE December 4, 2000    2000 Ron Paul 97:22 * Ironically it’s argued that the deliberate raising the cost of borrowing money for everyone is that this will hold prices in check. Yet consumers and businesses suffer from this additional cost - pushing all prices upward. But even more ironic is the claim that they now care about “inflation” after a decade of massive monetary inflation-the real culprit.-The Federal Reserve meanwhile ignores the fact that the money supply is key to monetary policy, not admitting the damage has already been done. business ECONOMIC UPDATE December 4, 2000    2000 Ron Paul 97:27 * Besides, Alan Greenspan knows full well that the scenario we are now experiencing can be made worse by lowering interest rates. Under the conditions we are facing it’s very likely the dollar will weaken and deliberately lowering interest rates will accelerate this trend. Price inflation, which the Fed claims it is so concerned about, will not necessarily go away even with a weak economy. And the one thing we will come to realize that even the best of all central bankers, Alan Greenspan, will not be able to determine interest rates at all times of the business cycle. Inflation premiums, confidence, the value of the dollar, and political conditions all can affect interest rates and these are out of the control of the Federal Reserve Board. business INTRODUCTION OF THE IDENTITY THEFT PREVENTION ACT — HON. RON PAUL Wednesday, January 3, 2001    2001 Ron Paul 1:13 * Perhaps the most outrageous example of phony privacy protection is the Clinton Administration’s so-called “medical privacy” proposal, which allow medical researchers, certain business interests, and law enforcement officials’ access to health care information, in complete disregard of the Fifth Amendment and the wishes of individual patients! Obviously, “privacy protection” laws have proven greatly inadequate to protect personal information when the government is the one providing or seeking the information. business INTRODUCTION OF THE FAMILY EDUCATION FREEDOM ACT — HON. RON PAUL Wednesday, January 31, 2001    2001 Ron Paul 3:2 * The Family Education Freedom Act returns the fundamental principal of a truly free economy to America’s education system: what the great economist Ludwig von Mises called “consumer sovereignty”. Consumer sovereignty simply means consumers decide who succeeds or fails in the market. Businesses that best satisfy consumer demand will be the most successful. Consumer sovereignty is the means by which the free market maximizes human happiness. business Honoring The Success Of Catholic Schools 6 February 2001    2001 Ron Paul 6:5 What is the superintendent of a Baptist private school or a Pentecostal home schooler going to think when reading this resolution? That Congress does not think they provide children with an excellent education or that Congress does not deem their religious goals worthy of federal endorsement? In a free republic, the legislature should not be in the business of favoring one religion over another. I would also like to point out the irony of considering government favoritism of religion in the context of praising the Catholic schools, when early in this century Catholic schools where singled out for government-sanctioned discrimination because they were upholding the teachings of the Catholic Church. business CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC — February 07, 2001    2001 Ron Paul 7:15 It should be clearly evident, however, that all the campaign finance reforms and lobbying controls conceivable will not help the situation. Limiting the right to petition Congress or restricting people’s right to spend their own money will always fail and is not morally acceptable and misses the point. As long as government has so much to offer, public officials will be tempted to accept the generous offers of support from special interests. Those who can benefit have too much at stake not to be in the business of influencing government. Eliminating the power of government to pass out favors is the only real solution. Short of that, the only other reasonable solution must come by Members’ refusal to be influenced by the pressure that special-interest money can exert. This requires moral restraint by our leaders. Since this has not happened, special-interest favoritism has continued to grow. business CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC — February 07, 2001    2001 Ron Paul 7:41 Although computer technology has been quite beneficial to the economy, in some ways these benefits have been misleading by hiding the ill effects of central-bank manipulation of interest rates and by causing many to believe that the usual business-cycle correction could be averted. Instead, delaying a correction that is destined to come only contributes to greater distortions in the economy, thus requiring an even greater adjustment. business CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC — February 07, 2001    2001 Ron Paul 7:44 The majority of Americans have not yet accepted the harsh reality that this less-threatening, friendlier type of economic planning is minimally more efficient than that of the socialist planners with their five-year economic plans. We must face the fact that the business cycle, with its recurring recessions, wage controls, wealth transfers, and social discord are still with us and will get worse unless there is a fundamental change in economic and monetary policy. Regardless of the type, central economic planning is a dangerous notion. business CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC — February 07, 2001    2001 Ron Paul 7:59 A slumping stock market will also cause the dollar to decline and interest rates to rise. Federal Reserve Board central planning through interest-rate control is not a panacea. It is instead the culprit that produces the business cycle. Government and FED officials have been reassuring the public that no structural problems exists, citing no inflation and a gold price that reassures the world that the dollar is indeed still king. business CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC — February 07, 2001    2001 Ron Paul 7:63 A similar effort continues today, with central banks selling and loaning gold to keep the price in check. It’s working and does convey false confidence, but it can’t last. Most Americans are wise to the government’s statistics regarding prices and the “no-inflation” rhetoric. Everyone is aware that the prices of oil, gasoline, natural gas, medical care, repairs, houses, and entertainment have all been rapidly rising. The artificially low gold price has aided the government’s charade, but it has also allowed a bigger bubble to develop. This policy cannot continue. Economic law dictates a correction that most Americans will find distasteful and painful. Duration and severity of the liquidation phase of the business cycle can be limited by proper responses, but it cannot be avoided and could be made worse if the wrong course is chosen. business CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC — February 07, 2001    2001 Ron Paul 7:64 Recent deterioration of the junk-bond market indicates how serious the situation is. Junk bonds are now paying 9% to 10% more than short-term government securities. The quality of business loans is suffering, while more and more corporate bonds are qualifying for junk status. The FED tries to reassure us by attempting to stimulate the economy with low short-term FED fund rates at the same time interest rates for businesses and consumers are rising. There comes a time when FED policy is ineffective, much to everyone’s chagrin. business CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC — February 07, 2001    2001 Ron Paul 7:114 But the system of government we have become accustomed to has, for decades, taken over responsibilities that were never intended to be the prerogative of the federal government under the Constitution. Although mostly well intended, the efforts at social engineering have caused significant damage to our constitutional Republic and have resulted in cynicism toward all politicians. Our presidents are now elected by less than 20% of those old enough to vote. Government is perceived to be in the business of passing out favors rather than protecting individual liberty. The majority of the people are made up of independents and non-voters. business POTENTIAL FOR WAR February 08, 2001    2001 Ron Paul 10:48 Our presidents now are elected by less than 20 percent of those old enough to vote. Government is perceived to be in the business of passing out favors rather than protecting individual liberty. The majority of the people are made up of independents and non-voters. business IDENTITY THEFT — HON. RON PAUL Tuesday, February 13, 2001    2001 Ron Paul 11:1 * Mr. PAUL. Mr. Speaker, I highly recommend the attached article “Know Your Customer” by Christoper Whalen, which recently appeared in Barron’s, to my colleagues. This article examines the horrors faced by victims of America’s fastest-growing crime: identity theft. As the article points out, millions of Americans have suffered deep financial losses and the destruction of their credit history because of identity theft. Victims of identity theft often discover that the process of reestablishing one’s good reputation resembles something out of a Kafka novel. identity fraud also effects numerous businesses which provide credit to unscrupulous individuals based on a stolen credit history. Just last year, American businesses and consumers lost 25 billion dollars to identity thieves! business IDENTITY THEFT — HON. RON PAUL Tuesday, February 13, 2001    2001 Ron Paul 11:11 Every investor who buys securities back by consumer loans or the equity of companies that are significantly involved in the consumer-loan business should think twice before investing in such paper. business Blame Congress for HMOs February 27, 2001    2001 Ron Paul 15:3 * The story behind the creation of the HMOs is a classic illustration of how the unintended consequences of government policies provide a justification for further expansions of government power. During the early seventies, Congress embraced HMOs in order to address concerns about rapidly escalating health care costs. However, it was Congress which had caused health care costs to spiral by removing control over the health care dollar from consumers and thus eliminating any incentive for consumers to pay attention to costs when selecting health care. Because the consumer had the incentive to control health care cost stripped away, and because politicians where unwilling to either give up power by giving individuals control over their health care or take responsibility for rationing care, a third way to control costs had to be created. Thus, the Nixon Administration, working with advocates of nationalized medicine, crafted legislation providing federal subsidies to HMOs, preempting state laws forbidding physicians to sign contracts to deny care to their patients, and mandating that health plans offer an HMO option in addition to traditional fee-for-service coverage. Federal subsidies, preemption of state law, and mandates on private business hardly sounds like the workings of the free market. Instead, HMOs are the result of the same Nixon-era corporatist, Big Government mindset that produced wage-and-price controls. business Blame Congress for HMOs February 27, 2001    2001 Ron Paul 15:18 Introducing the HMO hearings, Kennedy said, “We need legislation which reorganizes the system to guarantee a sufficient volume of high quality medical care, distributed equitably across the country and available at reasonable cost to every American. It is going to take a drastic overhaul of our entire way of doing business in the health-care field in order to solve the financing and organizational aspects of our health crisis. One aspect of that solution is the creation of comprehensive systems of health-care delivery.” business Blame Congress for HMOs February 27, 2001    2001 Ron Paul 15:35 Federal officials, eager to keep HMOs in business, have even been willing to violate federal law. In August 1998, a federal court chided the U.S. Department of Health and Human Services for renewing HMO contracts that violate their own Medicare regulations. THE RUSE OF PATIENT PROTECTION business The Beginning of the End of Fiat Money March 13, 2001    2001 Ron Paul 18:8 Politicians and economists are very familiar with business cycles with most assuming that slumps erupt as: 1.) A natural consequence of capitalism, 2.) An act of God, 3.) Or as a result of Fed driven high interest rates. That is to say, the Fed did not engage in enough monetary debasement, becomes the most common complaint by Wall Street pundits and politicians. business The Beginning of the End of Fiat Money March 13, 2001    2001 Ron Paul 18:22 The ultimate solution will only come with the rejection of fiat money worldwide, and a restoration of commodity money. Commodity money if voluntarily and universally accepted could give us a single world currency requiring no money managers, no manipulators orchestrating a man-made business cycle with rampant price inflation. Real free trade without barriers or tariffs and a single sound currency is the best way to achieve international peace and prosperity. business Addressing Monetary Problems 22 March 2001    2001 Ron Paul 23:3 It is very clear that we have these cycles and these booms coming from a monetary system that is pure fiat. Fiat money means that the money is created out of thin air, and the characteristic of a fiat monetary system is that you have overspeculation, you have stock market booms, you have stock market crashes, and you have a business cycle. This comes from the mismanagement of money, mainly because man, in his efforts to plan, to have economic central planning through monetary policy, is incapable of providing the information necessary that a free market is supposed to have. business Addressing Monetary Problems 22 March 2001    2001 Ron Paul 23:11 This type of a monetary system also encourages us to do things unwisely. When interest rates are lower than they are supposed to be, we borrow more money and we do not save as much money, so savings has a negative rate. Yet people are way in debt, business people are in debt, and then business people are actually encouraged to do things that are not wise. They overbuild; they build into the system overcapacity and mal-investment which eventually has to be cleansed out of the system. business Free Trade April 24, 2001    2001 Ron Paul 24:5 * In truth, the bipartisan establishment’s fanfare of “free trade” (and the impending request for fast track authority) fosters the opposite of genuine freedom of exchange. Whereas genuine free traders examine free markets from the perspective of the consumer (each individual), the mercantilist examines trade from the perspective of the power elite; in other words, from the perspective of the big business in concert with big government. Genuine free traders consider exports a means of paying for imports, in the same way that goods in general are produced in order to be sold to consumers. But the mercantilists want to privilege the government business elite at the expense of all consumers, be they domestic or foreign. business Inflation Is Still With Us 3 May 2001    2001 Ron Paul 30:10 But this is an expected consequence of monetary debasement, which generally leads to social unrest. But, blaming capitalism and freedom for the harm done by inflationism, special interest corporatism, and interventionism presents a danger to us all, since the case for commodity money and individual liberty is lost in the shouting. Unless this message is heard and distinguished from the current system, freedom and prosperity will be lost. Leaders of the current worldwide system that has evolved since the collapse of the Soviet empire pay lip service to free trade and free markets, but tragically they are moving us toward a fascist system of partnerships with government, big businesss, and international banking at the expense of the middle class and the poor. business Statement on the Congressional Education Plan May 22, 2001    2001 Ron Paul 38:11 The Family Education Freedom Act returns the fundamental principle of a truly free economy to America’s education system: what the great economist Ludwig von Mises called “consumer sovereignty.” Consumer sovereignty simply means consumers decide who succeeds or fails in the market. Businesses that best satisfy consumer demand will be the most successful. Consumer sovereignty is the means by which the free society maximizes human happiness. business Sudan Peace Act 13 June 2001    2001 Ron Paul 40:2 But I do question a few things. First, I question whether this is a proper function for our government. I raised this question in the committee, suggesting that it could not be for national security reasons, and it more or less was conceded this has nothing to do with national security but it had to do with America’s soul. I was fascinated that we are in the business of saving souls these days. business Internationalizing SEC 13 June 2001    2001 Ron Paul 41:3 For one thing, cracking down more on foreign oil companies that are doing business in Sudan will not necessarily prohibit the benefits that may flow to the American oil companies if there is a change in government. We should not ignore that. We go to war over oil. We went to war over oil in the Persian Gulf, and certainly we had oil as an influence to send in many dollars and much equipment down into Colombia. business Faith Based Initiatives June 13, 2001    2001 Ron Paul 43:16 A true faith-based initiative is one defined by freedom and not one defined by politics. Humankind already has a tragic history of incidents where governments and politicians have gotten into the business of defining faith and religion. business “Postal Service Has Its Eye On You” 27 June 2001    2001 Ron Paul 47:4 This is why I will soon be introducing legislation to curb the Post Office’s regulatory authority over individual Americans and small business (including those who compete with the Post Office) as well as legislation to repeal the statutory authority to implement these “Know Your Customer” type policies. I urge my colleagues to read Mr. Berlau’s article and join me in protecting the privacy and liberty of Americans by ensuring law-abiding Americans may live their lives free from the prying “Eagle Eye” of the Federal Government. POSTAL SERVICE HAS ITS EYE ON YOU (By John Berlau) business “Postal Service Has Its Eye On You” 27 June 2001    2001 Ron Paul 47:11 The same sort of response came from another prominent critic of “Know Your Customer,” this time on the left, who was appalled by details of the training video. “The postal service is training its employees to invade their customers’ privacy,” Greg Nojeim, associate director of the American Civil Liberties Union Washington National Office, tells Insight. “This training will result in the reporting to the government of tens of thousands of innocent transactions that are none of the government’s business. I had thought the postal-service’s eagle stood for freedom. Now I know it stands for, ‘We’re watching you!’ ” business “Postal Service Has Its Eye On You” 27 June 2001    2001 Ron Paul 47:15 Gibson and Gillum say the program resulted from new regulations created by the Clinton-era Treasury Department in 1997 to apply provisions of the Bank Secrecy Act to “money service businesses” that sell financial instruments such as stored-value cash cards, money orders and wire transfers, as well as banks. Surprisingly, the postal service sells about one-third of all U.S. money orders, more than $27 billion last year. It also sells stored-value cards and some types of wire transfers. Although the regulations were not to take effect until 2002, Gillum says the postal service wanted to be “proactive” and “visionary.” business “Postal Service Has Its Eye On You” 27 June 2001    2001 Ron Paul 47:25 But the “suspicious” customers might just be concerned about privacy, says Solveig Singleton, a senior analyst at the Competitive Enterprise Institute. And a professional criminal likely would know that $3,000 was the reporting requirement before he walked into the post office. “I think there’s a lot of reasons that people might not want to fill out such forms; they may simply think it’s none of the post office’s business,” Singleton tells Insight. “The presumption seems to be that from the standpoint of the post office and the Bank Secrecy regulators every citizen is a suspect.” business “Postal Service Has Its Eye On You” 27 June 2001    2001 Ron Paul 47:30 Observers say problems with “Under the Eagle’s Eye” underscore the contradiction that despite the fact that the postal service advertises like a private business and largely is self-supporting, it still is a government agency with law-enforcement functions. business “Postal Service Has Its Eye On You” 27 June 2001    2001 Ron Paul 47:31 Gibson says his agency must set an example for private businesses on tracking, money orders. “Being a government agency, we feel it’s our responsibility that we should set the tone,” he said. The Treasury Department “basically challenged us in the midnineties to step up to the plate as a government entity,” Gillum adds. business “Postal Service Has Its Eye On You” 27 June 2001    2001 Ron Paul 47:34 That’s one of the major issues raised by critics such as Postal Watch’s Merritt. He says that lawmakers and the new postmaster general, Jack Potter, need to examine any undermining of customer trust by programs such as “Under the Eagle’s Eye” before the postal service is allowed to go into new businesses such as providing e-mail addresses. “Let’s hope that this is not a trend for the postal service, because I don’t think the American people are quite ready to be fully under the eagle’s eye,” he says. business A BAD OMEN July 17, 2001    2001 Ron Paul 52:12 Realizing the weakness of the charges against Milosevic the court has quietly dropped the charges for committing genocide. In a real trial, evidence that the British and the United States actually did business with Milosevic would be permitted. But almost always, whoever is our current most hated enemy, has received help and assistance from us in the past. This was certainly the case with Noriega and Saddam Hussein and others, and now it’s Milosevic . business Export-Import Bank 24 July 2001    2001 Ron Paul 61:5 Free trade means there are low tariffs, but we do not subsidize any special interests. To me it is rather amazing, the paragraph that we are dealing with is called Subsidy Authorization. There is no pretension anymore. We just advertise, this as a subsidies. When did we get into the business of subsidies? A long time ago, unfortunately. I do not think that the Congress should be in the business of subsidies. business Export-Import Bank 24 July 2001    2001 Ron Paul 61:8 Mr. Chairman, what I say is let us have some real campaign finance reform and let us get rid of the subsidies and the motivation for these huge corporations to come here and influence our vote. That is what the problem is. We do not need to get the money out of politics, we need to get the money out of Washington and out of the business of subsidizing special interests. That is where our problem is. business Export-Import Bank 24 July 2001    2001 Ron Paul 61:11 Those who do not like China should vote for this because there is a suggestion that the Export-Import Bank serves the interest of China. So to me it should be an easy vote. The only problem with this amendment is that it is so small. It does not really address the big subject on whether or not the Congress should be in this business. Obviously they should not be. Where do you find the authorization to give subsidy appropriations in the Constitution? It is not there. business Export-Import Bank Amendment 24 July 2001    2001 Ron Paul 62:2 Mr. PAUL. Mr. Chairman, my amendment strikes the paragraph on page 2, line 21 entitled “subsidy appropriation.” I do not believe this Congress should be in the business of subsidizing anyone. We should be protecting the American taxpayer, and we should be protecting the individual liberty of all American citizens, not dealing in subsidies. business Export-Import Bank Amendment 24 July 2001    2001 Ron Paul 62:5 Those in opposition to my amendment make the point that jobs are enhanced in the big corporations like Boeing. That is true, to a degree, but there is a net loss of jobs because the same entity, the Export-Import Bank, literally exports jobs by subsidizing and loaning money to foreign entities that compete with us. Not only does some of this money end up in the hands of our competitors and hurt us here at home, but it ends up in the hands of our potential enemies. This is the reason why we should be out of the business of the Export-Import Bank. business Export-Import Bank Amendment 24 July 2001    2001 Ron Paul 62:10 If we oppose corporate welfare and think we ought to address it on principle and decide whether or not the Congress and the U.S. Government and the taxpayers should be in this type of business, we have to vote for my amendment to get us out of this business. This does not serve the interests of the general welfare of the people. This is antagonistic toward the general welfare of the people. It costs the taxpayers money, it puts the risk on the taxpayer, it serves the interests of the powerful special interests. Why else would they come with their lobbying funds? Why else would they come with their huge donations to the political action committees, unless it is a darn good deal for them? business Iran/Libya Sanctions Act 24 July 2001    2001 Ron Paul 64:3 Furthermore, the sanctions are being extended from a period of five years to ten years. If the original five year sanction period has not been effective in allaying the fears about these governments why do we believe an extra five years will be effective? In fact, few companies have actually been sanctioned under this Act, and to the best of my knowledge no oil companies have been so sanctioned. Still, the sanctions in the Act are not against these nations but are actually directed at “persons” engaged in certain business and investments in these countries. There are already Executive Orders making it illegal for US companies to undertake these activities in these sanctioned countries, so this Act applies to companies in other countries, mostly our allied countries, almost all of whom oppose and resent this legislation and have threatened to take the kinds of retaliatory action that could lead to an all out trade war. In fact, the former National Security Advisor Brent Scrowcroft recently pointed out how these sanctions have had a significant adverse impact upon our Turkish allies. business Iran/Libya Sanctions Act 24 July 2001    2001 Ron Paul 64:6 I also have to point out the inconsistency in our policy. Why would we sanction Iran but not Sudan, and why would we sanction Libya but not Syria? I hear claims related to our national security but surely these are made in jest. We subsidize business with the People’s Republic of China but sanction Europeans from helping to build oil refineries in Iran. business A NEWSPAPER ARTICLE ON THE LIFE OF FREDERIC BASTIAT -- HON. RON PAUL July 26, 2001    2001 Ron Paul 67:15 Bastiat once saw an editorial proposing a Bordeaux stop on the railroad from Paris to Spain to stimulate local business. He wondered, why only Bordeaux? Why not have a stop in every single town along the way--a never-ending series of breaks--so the prosperity could be enjoyed by all? They could call it a “negative railroad.” business A NEWSPAPER ARTICLE ON THE LIFE OF FREDERIC BASTIAT -- HON. RON PAUL July 26, 2001    2001 Ron Paul 67:17 Then there’s Bastiat’s broken-window fallacy. It seems someone broke a window. It’s unfortunate, but there’s a silver lining. Money spent to repair the window will being new business to the repairman. He, in turn, will spend his higher income and generate more business for others. The broken window could ultimately create a boom. business TRUTH IN EMPLOYMENT ACT -- HON. RON PAUL Thursday, August 2, 2001    2001 Ron Paul 71:1 * Mr. PAUL. Mr. Speaker, I rise to introduce the Truth in Employment Act which protects small businesses and independent-minded workers from the destructive and coercive “top-down” organizing tactic known as salting. Salting is a technique designed by unscrupulous union officials for the purpose of harassing small businesses until the businesses compel their employees to pay union dues as a condition of employment. business TRUTH IN EMPLOYMENT ACT -- HON. RON PAUL Thursday, August 2, 2001    2001 Ron Paul 71:2 * “Salts” are professional union organizers who apply for jobs solely in order to compel employers into consenting to union monopoly bargaining and forced-dues contract clauses. They do this by disrupting the workplace and drumming up so-called “unfair labor practice” charges which are designed to harass and tie up the small business person in constant and costly litigation. business TRUTH IN EMPLOYMENT ACT -- HON. RON PAUL Thursday, August 2, 2001    2001 Ron Paul 71:3 * Thanks to unconstitutional interference in the nation’s labor markets by Congress, small businesses targeted by union salts often must acquiesce to union bosses’ demands that they force their workers to accept union “representation” and pay union dues. If an employer challenges a salt, the salt may file (and win) an unfair labor practice charge against the employer! business Patients’ Bill Of Rights 2 August 2001    2001 Ron Paul 74:5 However, it was previous Congressional action which caused health care costs to spiral by removing control over the health care dollar from consumers and thus eliminating any incentive for consumers to pay attention to prices when selecting health care. Because the consumer had the incentive to monitor health care prices stripped away and because politicians were unwilling to either give up power by giving individuals control over their health care or take responsibility for rationing care, a third way to control costs had to be created. Thus, the Nixon Administration, working with advocates of nationalized medicine, crafted legislation providing federal subsidies to HMOs and preempting state laws forbidding physicians to sign contracts to deny care to their patients. This legislation also mandated that health plans offer an HMO option in addition to traditional fee-for-service coverage. Federal subsidies, preemption of state law, and mandates on private business hardly sound like the workings of the free market. Instead, HMOs are the result of the same Nixon-era corporatist, big government mindset that produced wage-and-price controls. business Patients’ Bill Of Rights 2 August 2001    2001 Ron Paul 74:15 Instead of this phony argument between those who believe their form of nationalized medicine is best for patients and those whose only objection to nationalized medicine is its effect on entrenched corporate interests, we ought to consider getting rid of the laws that created this medical management crisis. The ERISA law requiring businesses to provide particular programs for their employees should be repealed. The tax codes should give equal tax treatment to everyone whether working for a large corporation, small business, or self employed. Standards should be set by insurance companies, doctors, patients, and HMOs working out differences through voluntary contracts. For years it was known that some insurance policies excluded certain care. This was known up front and was considered an acceptable practice since it allowed certain patients to receive discounts. The federal government should defer to state governments to deal with the litigation crisis and the need for contract legislation between patients and medical providers. Health care providers should be free to combine their efforts to negotiate effectively with HMOs and insurance companies without running afoul of federal anti-trust laws — or being subject to regulation by the National Labor Relations Board (NLRB). business The US Dollar and the World Economy September 6, 2001    2001 Ron Paul 75:44 If, heaven forbid, the economy sinks as low and for as long as many free market economists believe, what policy changes must we consider? Certainly the number one change ought to be to reject the ideas that created the crisis. But rejecting old ways that Congress and the people are addicted to is not easy. Many people believe that government programs are free. The clamor for low interest rates, (more monetary inflation) by virtually all public officials and prominent business and banking leaders is endless. And, the expectation for government to do something for every economic malady-even if ill-advised government policy has created the problem-drives this seductive system of centralized planning that ultimately undermines prosperity. A realization that we cannot continue our old ways may well be upon us, and, the inflating, taxing, regulating, and centralized planning programs of the last thirty years must come to an end. business Sometimes The Economy Needs A Setback 10 September 2001    2001 Ron Paul 77:1 Mr. PAUL. Mr. Speaker, I encourage each and every one of my colleagues to read and heed the insights contained in James Grant’s Sunday New York Times article entitled “Sometimes the Economy Needs a Setback.” Mr. Grant explores the relationship of technology to the business cycle and identifies the real culprit in business cycles, namely “easy money.” Grant explains: business Sometimes The Economy Needs A Setback 10 September 2001    2001 Ron Paul 77:2 Booms not only precede busts; they also cause them. When capital is so cheap that it might as well be free, entrepreneurs make marginal investments. They build and hire expecting the good times to continue to roll. Optimistic bankers and steadily rising stock prices shield new businesses from having to show profits any sooner than “eventually.” business Sometimes The Economy Needs A Setback 10 September 2001    2001 Ron Paul 77:6 A boom is a phase of accelerated prosperity. For ignition, it requires easy money. For inspiration, it draws on new technology. A decade ago, farsighted investors saw a glorious future for the personal computer in the context of the more peaceful world after the cold war. Stock prices began to rise — and rose and rose. The cost of financing new investment fell correspondingly, until by about the middle of the decade the money became too cheap to pass up. Business investment soared, employment rose, reported profits climbed. business Sometimes The Economy Needs A Setback 10 September 2001    2001 Ron Paul 77:10 In 1932 an eminent German analyst of business cycles, Wilhelm Ro¨pke, looked back from amid the debris of the Depression. Citing a series of inventions and innovations — railroads, steelmaking, electricity, chemical production, the automobile — he wrote: “The jumpy increases in investment characterizing every boom are usually connected with some technological advance. * * * Our economic system reacts to the stimulus. * * * with the prompt and complete mobilization of all its inner forces in order to carry it out everywhere in the shortest possible time. But this acceleration and concentration has evidently to be bought at the expense of a disturbance of equilibrium which is slowly overcome in time of depression.” business Sometimes The Economy Needs A Setback 10 September 2001    2001 Ron Paul 77:12 Booms not only precede busts; they also cause them. When capital is so cheap that it might as well be free, entrepreneurs make marginal investments. They build and hire expecting the good times to continue to roll. Optimistic bankers and steadily rising stock prices shield new businesses from having to show profits any sooner than “eventually.” Then, when the stars change alignment and investors decide to withhold new financing, many companies are cash-poor and must retrench or shut down. It is the work of a bear market to reduce the prices of the white elephants until they are cheap enough to interest a new class of buyers. business Intelligence Authorization Act For Fiscal Year 2002 5 October 2001    2001 Ron Paul 81:1 Mr. PAUL. Mr. Speaker, HR 2883, the Intelligence Authorization Act, is brought before us today under a process which denies members of Congress our constitutional right as elected officials to be informed on crucial aspects of the programs we are asked to authorize. Information about this bill is limited to dollars amounts and personnel ceilings for the individual intelligence programs and even that information is restricted to viewing in a classified annex available to members during regular business hours for “security reasons.” business A SAD STATE OF AFFAIRS -- October 25, 2001    2001 Ron Paul 90:6 Throughout our early history, a policy of minding our own business and avoiding entangling alliances, as George Washington admonished, was more representative of American ideals than those we have pursued for the past 50 years. Some sincere Americans have suggested that our modern interventionist policy set the stage for the attacks of 9-11, and for this, they are condemned as being unpatriotic. business A SAD STATE OF AFFAIRS -- October 25, 2001    2001 Ron Paul 90:16 But there is one business that we need not fear will go into a slump: The Washington lobbying industry. Last year, it spent $1.6 billion lobbying Congress. This year, it will spend much more. The bigger the disaster, the greater the number of vultures who descend on Washington. When I see this happening, it breaks my heart, because liberty and America suffers, and it is all done in the name of justice, equality and security. business A SAD STATE OF AFFAIRS -- October 25, 2001    2001 Ron Paul 90:18 Envy and power drive both sides- the special interests of big business and the demands of the welfare/redistribution crowd. business Statement on Funding for the Export- Import Bank October 31, 2001    2001 Ron Paul 91:2 Proponents of continued American support for the Eximbank claim that the bank “creates jobs” and promotes economic growth. However, this claim rests on a version of what the great economist Henry Hazlitt called “the broken window” fallacy. When a hoodlum throws a rock through a store window, it can be said he has contributed to the economy, as the store owner will have to spend money having the window fixed. The benefits to those who repaired the window are visible for all to see, therefore it is easy to see the broken window as economically beneficial. However, the “benefits” of the broken window are revealed as an illusion when one takes into account what is not seen: the businesses and workers who would have benefited had the store owner not spent money repairing a window, but rather had been free to spend his money as he chose. business Statement on Funding for the Export- Import Bank October 31, 2001    2001 Ron Paul 91:3 Similarly, the beneficiaries of Eximbank are visible to all; what is not seen is the products that would have been built, the businesses that would have been started, and the jobs that would have been created had the funds used for the Eximbank been left in the hands of consumers. business Statement on Funding for the Export- Import Bank October 31, 2001    2001 Ron Paul 91:6 The case for Eximbank is further weakened considering that small businesses receive only 12-15% of Eximbank funds; the vast majority of Eximbank funds benefit large corporations. These corporations can certainly afford to support their own exports without relying on the American taxpayer. It is not only bad economics to force working Americans, small business, and entrepreneurs to subsidize the exports of the large corporations: it is also immoral. In fact, this redistribution from the poor and middle class to the wealthy is the most indefensible aspect of the welfare state, yet it is the most accepted form of welfare. Mr. Chairman, it never ceases to amaze me how members who criticize welfare for the poor on moral and constitutional grounds see no problem with the even more objectionable programs that provide welfare for the rich. business Foolishness Of Fiat 31 October 2001    2001 Ron Paul 92:7 I am sure, due to the crisis, a faith in fiat and a failure to understand the business cycle, the Fed will continue with the only thing it knows to do: credit creation and manipulation of interest rates. business Expansion of NATO is a Bad Idea November 7, 2001    2001 Ron Paul 95:17 Mr. Speaker, we are now called on to endorse the further expansion of a purposeless alliance and to grant $55.5 million dollars to former Soviet Bloc countries that have expressed an interest in joining it. While expanding NATO membership may be profitable for those companies that will be charged with upgrading the militaries of prospective members, this taxpayer subsidy of foreign governments and big business is not in the interest of the American people. It is past time for the Europeans to take responsibility for their own affairs, including their military affairs. business The War On Terrorism November 29, 2001    2001 Ron Paul 98:28 It is not our job to remove Saddam Hussein- that is the job of the Iraqi people. It is not our job to remove the Taliban- that is the business of the Afghan people. It is not our job to insist that the next government in Afghanistan include women, no matter how good an idea it is. If this really is an issue, why don’t we insist that our friends in Saudi Arabia and Kuwait do the same thing, as well as impose our will on them? Talk about hypocrisy! The mere thought that we fight wars for affirmative action in a country 6,000 miles from home, with no cultural similarities, should insult us all. Of course it does distract us from the issue of an oil pipeline through northern Afghanistan. We need to keep our eye on the target and not be so easily distracted. business The War On Terrorism November 29, 2001    2001 Ron Paul 98:42 If a corrupt city or state government does business with a drug cartel or organized crime and violence results, we don’t bomb city hall or the state capital- we limit the targets to those directly guilty and punish them. Could we not learn a lesson from these examples? business The War On Terrorism November 29, 2001    2001 Ron Paul 98:56 “Know Your Customer” type banking regulations, resisted by most Americans for years, have now been put in place in an expanded fashion. Not only will the regulations affect banks, thrifts and credit unions, but also all businesses will be required to file suspicious transaction reports if cash is used with the total of the transaction reaching $10,000. Retail stores will be required to spy on all their customers and send reports to the U.S. government. Financial services consultants are convinced that this new regulation will affect literally millions of law-abiding American citizens. The odds that this additional paperwork will catch a terrorist are remote. The sad part is that the regulations have been sought after by federal law-enforcement agencies for years. The 9-11 attacks have served as an opportunity to get them by the Congress and the American people. business The War On Terrorism November 29, 2001    2001 Ron Paul 98:83 I do not challenge the dedication and sincerity of those who disagree with the freedom philosophy and confidently promote government solutions for all our ills. I am just absolutely convinced that the best formula for giving us peace and preserving the American way of life is freedom, limited government, and minding our own business overseas. business Statement on Terrorism Reinsurance Legislation November 30, 2001    2001 Ron Paul 99:5 While no one can plan for terrorist attacks, individuals and businesses can take steps to enhance security. For example, I think we would all agree that industrial plants in the United States enjoy reasonably good security. They are protected not by the local police, but by owners putting up barbed wire fences, hiring guards with guns, and requiring identification cards to enter. One reason private firms put these security measures in place is because insurance companies provide them with incentives, in the form of lower premiums, to adopt security measures. HR 3210 contains no incentives for this private activity. The bill does not even recognize the important role insurance plays in providing incentives to minimize risks. By removing an incentive for private parties to avoid or at least mitigate the damage from a future terrorist attack, the government inadvertently increases the damage that will be inflicted by future attacks! business Let Privateers Troll For Bin Laden 4 December 2001    2001 Ron Paul 100:6 LET PRIVATEERS TROLL FOR BIN LADEN (by Larry J. Sechrest) In the wake of the Sept. 11th attacks, a group of American businessmen has decided to enlist the profit motive to bring the perpetrators to justice. Headed by Edward Lozzi of Beverly Hills, California, the group intends to offer a bounty of $1 billion — that’s billion with a “b” — to any private citizens who will capture Osama bin Laden and his associates, dead or alive. business Hispanic Chamber Of Commerce 4 December 2001    2001 Ron Paul 101:2 The importance of this national organization cannot be overstated, Hispanics have an annual purchasing power of approximately $500 billion and the Chamber effectively represents the more than 1 million Hispanic-owned businesses. The organization’s recent growth has shown its influence in communities not traditionally considered centers for Latino development, locations such as Richmond, Virginia; Charlotte, North Carolina and Minnesota’s Twin Cities area. business Saddam Hussein 19 December 2001    2001 Ron Paul 107:7 My idea of national defense is minding our own business, being strong, and making sure our borders are secure. After 9/11, we had to go to Germany and ask them for help for AWACS airplanes to patrol our shores. I understand our ports are not necessarily secure, and yet we have Coast Guard cutters down in Colombia and in the Mediterranean Sea. I think if we learn anything it is that we ought to work harder to protect our country and not make us so vulnerable, yet we continue along this way. business Yields Time To Mr. Rohrabacher 19 December 2001    2001 Ron Paul 109:3 Mr. PAUL. Mr. Speaker, if the gentleman was to find out that China was much more involved in the Taliban and the terrorist attacks on 9–11 than anything Saddam Hussein has done, would the gentleman be willing to do to China what the gentleman is willing to do to Iraq? Mr. ROHRABACHER. Mr. Speaker, reclaiming my time, let me put it this way. The answer is yes, but I would not right away. Like the President says, we must do things sequentially, and we must be absolutely committed to the job. If we do things sequentially, the next order of business is taking care of the threat in Iraq. And if China is, yes, helping terrorists murder thousands of Americans, yes, we should help the Chinese people overthrow their dictatorship as well. business The Case For Defending America 24 January 2002    2002 Ron Paul 1:32 The military operation against the Taliban has gone well. The Taliban has been removed from power, and our government, with the help of the U.N., is well along the way toward establishing a new Afghan government. We were not supposed to be in the business of nation building, but I guess 9–11 changed all that. The one problem is that the actual number of al-Qaeda members captured or killed is uncertain. Also, the number of Taliban officials that had any direct contact or knowledge of the attacks on us is purely speculative. Since this war is carried out in secrecy, we will probably not know the details of what went on for years to come. business The Case For Defending America 24 January 2002    2002 Ron Paul 1:39 Our presence in the Persian Gulf is not necessary to provide for America’s defense. Our presence in the region makes all Americans more vulnerable to attacks and defending America much more difficult. The real reason for our presence in the Persian Gulf, as well as our eagerness to assist in building a new Afghan government under U.N. authority, should be apparent to us all. Stuart Eizenstat, Under Secretary of Economics, Business and Agricultural Affairs for the previous administration, succinctly stated U.S. policy for Afghanistan testifying before the Senate Foreign Relations Trade Committee October 13, 1997. He said, “One of five main foreign policy interests in the Caspian region is to continue support for U.S. companies and the least progress has been made in Afghanistan, where gas and oil pipeline proposals designed to carry Central Asian energy to world markets have been delayed indefinitely pending establishment of a broad-based, multiethnic government.” business The Case For Defending America 24 January 2002    2002 Ron Paul 1:66 After the demise of our nemesis, the Soviet Union, many believed that we could safely withdraw from some of our worldwide commitments. It was hoped we would start minding our own business, save some money, and reduce the threat to our military personnel. But the opposite has happened. Without any international competition for superpower status, our commitments have grown and spread so that today we provide better military protection to Taiwan and South Korea and Saudi Arabia than we do for New York and Washington. business Resolution Violates Spirit Of Establishment Clause 29 January 2002    2002 Ron Paul 2:5 What is the superintendent of a Baptist private school or a Pentecostal home schooler going to think when reading this resolution? That Congress does not think they provide children with an excellent education or that Congress does not deem their religious goals worthy of federal endorsement? In a free republic the legislature should not be in the business of favoring one religion over another. I would also like to point out the irony of considering government favoritism of religion in the context of praising the Catholic schools, when early in this century Catholic schools were singled out for government-sanctioned discrimination because they were upholding the teachings of the Catholic Church. business Statement before the House Capital Markets Subcommittee Monday, February 4, 2002    2002 Ron Paul 3:7 Enron provides a perfect example of the dangers of corporate subsidies. The company was (and is) one of the biggest beneficiaries of Export-Import Bank subsidies. The Ex-Im bank, a program that Congress continues to fund with tax dollars taken from hard-working Americans, essentially makes risky loans to foreign governments and businesses for projects involving American companies. The Bank, which purports to help developing nations, really acts as a naked subsidy for certain politically-favored American corporations- especially corporations like Enron that lobbied hard and gave huge amounts of cash to both political parties. Its reward was more that $600 million in cash via six different Ex-Im financed projects. business Statement before the House Capital Markets Subcommittee Monday, February 4, 2002    2002 Ron Paul 3:9 Enron similarly benefited from another federal boondoggle, the Overseas Private Investment Corporation. OPIC operates much like the Ex-Im Bank, providing taxpayer-funded loan guarantees for overseas projects, often in countries with shaky governments and economies. An OPIC spokesman claims the organization paid more than one billion dollars for 12 projects involving Enron, dollars that now may never be repaid. Once again, corporate welfare benefits certain interests at the expense of taxpayers. The point is that Enron was intimately involved with the federal government. While most of my colleagues are busy devising ways to “save” investors with more government, we should be viewing the Enron mess as an argument for less government. It is precisely because government is so big and so thoroughly involved in every aspect of business that Enron felt the need to seek influence through campaign money. It is precisely because corporate welfare is so extensive that Enron cozied up to DC-based politicians of both parties. It’s a game every big corporation plays in our heavily regulated economy, because they must when the government, rather than the marketplace, distributes the spoils. business Stimulating The Economy February 7, 2002    2002 Ron Paul 5:9 In recessions, to remain solvent, consumers ought to tighten their belts, pay off debt, and save. In a free market, this would lower market interest rates to once again make investments attractive. The confusing aspect of today’s economy is that consumers and even businesses continue profligate borrowing, in spite of problems on the horizon. Interest rates, instead of rising, are pushed dramatically downward by the Federal Reserve, creating massive amounts of new credit. business So-Called “Campaign Finance Reform” is Unconstitutional February 13, 2002    2002 Ron Paul 7:2 Mr. Speaker, this so-called “reform” legislation is clearly unconstitutional. Many have pointed out that the First amendment unquestionably grants individuals and businesses the free and unfettered right to advertise, lobby, and contribute to politicians as they choose. Campaign reform legislation blows a huge hole in these First amendment protections by criminalizing criticism of elected officials. Thus, passage of this bill will import into American law the totalitarian concept that government officials should be able to use their power to silence their critics. business So-Called “Campaign Finance Reform” is Unconstitutional February 13, 2002    2002 Ron Paul 7:8 There is a tremendous incentive for every special interest group to influence government. Every individual, bank, or corporation that does business with government invests plenty in influencing government. Lobbyists spend over a hundred million dollars per month trying to influence Congress. Taxpayer dollars are endlessly spent by bureaucrats in their effort to convince Congress to protect their own empires. Government has tremendous influence over the economy and financial markets through interest rate controls, contracts, regulations, loans, and grants. Corporations and others are “forced” to participate in the process out of greed as well as self-defense- since that’s the way the system works. Equalizing competition and balancing power- such as between labor and business- is a common practice. As long as this system remains in place, the incentive to buy influence will continue. business Introduction of the Monetary Freedom and Accountability Act February 13, 2002    2002 Ron Paul 8:10 Obfuscation, secrecy, and accounting tricks appear to have catapulted the Houston-based trader of oil and gas to the top of the Fortune 100, only to be brought down by the same corporate chicanery. Meanwhile, Wall Street analysts and the federal government’s top bean counters struggle to convince the nation that the Enron crash is an isolated case, not in the least reflective of how business is done in corporate America. business Introduction of the Monetary Freedom and Accountability Act February 13, 2002    2002 Ron Paul 8:18 Bill Murphy, chairman of the Gold Anti-Trust Action Committee, a nonprofit organization that researches and studies what he calls the “gold cartel” (J.P. Morgan Chase, Deutsche Bank, Citigroup, Goldman Sachs, Bank for International Settlements (BIS), the U.S. Treasury, and the Federal Reserve), and owner of www.LeMetropoleCafe.com, tells Insight that “Morgan Chase and other bullion banks are another Enron waiting to happen.” Murphy says, “Enron occurred because the nature of their business was obscured, there was no oversight and someone was cooking the books. Enron was deceiving everyone about their business operations C and the same thing is happening with the gold and bullion banks.” business Export-Import Reauthorization Act 19 March 2002    2002 Ron Paul 17:3 Proponents of continued American support for the Eximbank claim that the bank “creates jobs” and promotes economic growth. However, this claim rests on a version of what the great economist Henry Hazlitt called “the broken window” fallacy. When a hoodlum throws a rock through a store window, it can be said he has contributed to the economy, as the store owner will have to spend money having the window fixed. The benefits to those who repaired the window are visible for all to see, therefore it is easy to see the broken window as economically beneficial. However, the “benefits” of the broken window are revealed as an illusion when one takes into account what is not seen; the businesses and workers who would have benefited had the store owner not spent money repairing a window, but rather had been free to spend his money as he chose. business Export-Import Reauthorization Act 19 March 2002    2002 Ron Paul 17:4 Similarly, the beneficiaries of Eximbank are visible to all; what is not seen is the products that would have been built, the businesses that would have been started, and the jobs that would have been created had the funds used for the Eximbank been left in the hands of consumers. business Export-Import Reauthorization Act 19 March 2002    2002 Ron Paul 17:7 The case for Eximbank is further weakened considering that small businesses receive only 12–15 percent of Eximbank funds; the vast majority of Eximbank funds benefit large corporations. These corporations can certainly afford to support their own exports without relying on the American taxpayer. It is not only bad economics to force working Americans, small business, and entrepreneurs to subsidize the exports of the large corporations; it is also immoral. In fact, this redistribution from the poor and middle class to the wealthy is the most indefensible aspect of the welfare state, yet it is the most accepted form of welfare. Mr. Speaker, it never ceases to amaze me how members who criticize welfare for the poor on moral and constitutional grounds see no problem with the even more objectionable programs that provide welfare for the rich. business Statement against Meddling in Domestic Ukrainian Politics Wednesday, March 20, 2002    2002 Ron Paul 18:6 Mr. Speaker, we are legislators in the United States Congress. We are not in Ukraine. We have no right to interfere in the internal affairs of that country and no business telling them how to conduct their elections. A far better policy toward Ukraine would be to eliminate any U.S.-government imposed barrier to free trade between Americans and Ukrainians. business Corporate and Auditing Accountability, Responsibility, And Transparency Act of 2002 (CARTA) 24 April 2002    2002 Ron Paul 24:5 Even if CARTA transformed all (or at least all accountants) into angels, it could still harm individual investors. First, new regulations inevitably raise the overhead costs of investing. This will affect the entire economy as it lessens the capital available to businesses, thus leading to lower rates of economic growth and job creation. Meanwhile, individual investors will have less money for their retirement, their children’s education, or to make a down payment on a new home. business Corporate and Auditing Accountability, Responsibility, And Transparency Act of 2002 (CARTA) 24 April 2002    2002 Ron Paul 24:11 If left alone by Congress, the market is perfectly capable of disciplining businesses who engage in unsound practices. After all, before the government intervened, Arthur Andersen and Enron had already begun to pay a stiff penalty, a penalty delivered by individual investors acting through the market. This shows that not only can the market deliver punishment, but it can also deliver this punishment swifter and more efficiently than the government. We cannot know what efficient means of disciplining companies would emerge from a market process but we can know they would be better at meeting the needs of investors than a top-down regulatory approach. business Corporate and Auditing Accountability, Responsibility, And Transparency Act of 2002 (CARTA) 24 April 2002    2002 Ron Paul 24:12 Of course, while the supporters of increased regulation claim Enron as a failure of “ravenous capitalism,” the truth is Enron was a phenomenon of the mixed economy, rather than the operations of the free market. Enron provides a perfect example of the dangers of corporate subsidies. The company was (and is) one of the biggest beneficiaries of Export- Import (Ex-Im) Bank and Overseas Private Investment Corporation (OPIC) subsidies. These programs make risky loans to foreign governments and businesses for projects involving American companies. While they purport to help developing nations, Ex-Im and OPIC are in truth nothing more than naked subsidies for certain politically-favored American corporations, particularly corporations like Enron that lobby hard and give huge amounts of cash to both political parties. Rather than finding ways to exploit the Enron mess to expand Federal power, perhaps Congress should stop aiding corporations like Enron that pick the taxpayer’s pockets through Ex-Im and OPIC. business Statement Opposing Export-Import Bank Corporate Welfare May 1, 2002    2002 Ron Paul 31:8 It is not only bad economics to force working Americans, small business, and entrepreneurs to subsidize the export of the large corporations: it is also immoral. In fact, this redistribution from the poor and middle class to the wealthy is the most indefensible aspect of the welfare state, yet it is the most accepted form of welfare. Mr. Speaker, it never ceases to amaze me how members who criticize welfare for the poor on moral and constitutional grounds see no problem with the even more objectionable programs that provide welfare for the rich. business Statement Opposing Export-Import Bank Corporate Welfare May 1, 2002    2002 Ron Paul 31:11 Proponents of continued American support for the Eximbank claim that the bank creates jobs and promotes economic growth. However, this claim rests on a version of what the great economist Henry Hazlitt called, the “broken window” fallacy. When a hoodlum throws a rock through a store window, it can be said he has contributed to the economy, as the store owner will have to spend money having the window fixed. The benefits to those who repaired the window are visible for all to see, therefore it is easy to see the broken window as economically beneficial. However, the “benefits” of the broken window are revealed as an illusion when one takes into account what is not seen: the businesses and workers who would have benefited had the store owner not spent money repairing a window, but rather had been free to spend his money as he chose. Similarly, the beneficiaries of Eximbank are visible to all. What is not seen is the products that would have been built, the businesses that would have been started, and the jobs that would have been created had the funds used for the Eximbank been left in the hands of consumers. business Statement in Support of a Balanced Approach to the Middle East Peace Process May 2, 2002    2002 Ron Paul 32:4 Perhaps this is why the Administration views this legislation as "not a very helpful approach" to the situation in the Middle East. In my view, it is bad enough that we are intervening at all in this conflict, but this legislation strips any lingering notion that the United States intends to be an honest broker. It states clearly that the leadership of one side - the Palestinians - is bad and supports terrorism just at a time when this Administration negotiates with both sides in an attempt to bring peace to the region. Talk about undermining the difficult efforts of the president and the State Department. What incentive does Palestinian leader Yasser Arafat or his organization have to return to the negotiating table if we as "honest broker" make it clear that in Congress’s eyes, the Palestinians are illegitimate terrorists? Must we become so involved in this far-off conflict that we are forced to choose between Arafat and Israeli Prime Minister Ariel Sharon? The United States Congress should not, Constitutionally, be in the business of choosing who gets to lead which foreign people. business Expressing Solidarity With Israel In Its Fight Against Terrorism 2 May 2002    2002 Ron Paul 33:4 Perhaps this is why the Administration views this legislation as “not a very helpful approach” to the situation in the Middle East. In my view, it is bad enough that we are intervening at all in this conflict, but this legislation strips any lingering notion that the United States intends to be an honest broker. It states clearly that the leadership of one side — the Palestinians — is bad and supports terrorism just at a time when this Administration negotiates with both sides in an attempt to bring peace to the region. Talk about undermining the difficult efforts of the president and the State Department. What incentive does Palestinian leader Yasser Arafat or his organization have to return to the negotiating table if we as “honest broker” make it clear that in Congress’s eyes, the Palestinians are illegitimate terrorists? Must we become so involved in this far-off conflict that we are forced to choose between Arafat and Israeli Prime Minister Ariel Sharon? The United States Congress should not, Constitutionally, be in the business of choosing who gets to lead which foreign people. business Don’t Expand Federal Deposit Insurance May 22, 2002    2002 Ron Paul 47:2 I primarily object to the provisions in HR 3717 which may increase the premiums assessed on participating financial institutions. These "premiums," which are actually taxes, are the premier sources of funds for the Deposit Insurance Fund. This fund is used to bail out banks who experience difficulties meeting their commitments to their depositors. Thus, the deposit insurance system transfers liability for poor management decisions from those who made the decisions to their competitors. This system punishes those financial institutions which follow sound practices, as they are forced to absorb the losses of their competitors. This also compounds the moral hazard problem created whenever government socializes business losses. business Beware Dollar Weakness June 5, 2002    2002 Ron Paul 52:11 Now it is back to reality. This is serious business, and the correction that must come to adjust for the Federal Reserve’s mischief of the past 30 years has only begun. Congress must soon consider significant changes in our monetary system. business AFFORDABILITY OF CHILD HEALTH CARE June 11, 2002    2002 Ron Paul 54:3 As an OB-GYN who has had the privilege of delivering more than four thousand babies, I know how important it is that parents have the resources to provide adequate health care for their children. The inability of many working Americans to provide health care for their children is rooted in one of the great inequities of the tax code: Congress’ failure to allow individuals the same ability to deduct health care costs that it grants to businesses. As a direct result of Congress’ refusal to provide individuals with health care related tax credits, parents whose employers do not provide health insurance have to struggle to provide health care for their children. Many of these parents work in low-income jobs; oftentimes their only recourse to health care is the local emergency room. business BAD TAX POLICY SENDS COMPANIES OVERSEAS June 11, 2002    2002 Ron Paul 55:1 Mr. PAUL. Mr. Speaker, I wish to call my colleagues’ attention to the following article entitled “Bad Tax Policy: You Can Run .....” by Daniel Mitchell, McKenna Senior Fellow at the Heritage Foundation. Mr. Mitchell discusses the practice of companies reincorporating in foreign jurisdictions to reduce their tax liability. As Mr. Mitchell points out, reincorporation benefits shareholders and American workers. This is because reincorporation In a low-tax foreign jurisdiction makes companies more competitive, thus enabling the companies to create new and better jobs for working Americans. Furthermore, reincorporation helps protect American companies from corporate takeovers by foreign investors. America’s anti-competitive tax system is a major reason why several US companies have been taken over by foreign business interests. business BAD TAX POLICY SENDS COMPANIES OVERSEAS June 11, 2002    2002 Ron Paul 55:11 This is a win-win situation for America. We get to keep factories and headquarters in America, and our companies remain on a level playing field with businesses based in Europe and elsewhere. business BAD TAX POLICY SENDS COMPANIES OVERSEAS June 11, 2002    2002 Ron Paul 55:15 Republicans are doing their share of business-bashing, too. Mr. Grassley claims that corporate expatriations are :immoral,'' as if companies would be moral if they instead kept their U.S. charters and fired some of their workers. business BAD TAX POLICY SENDS COMPANIES OVERSEAS June 11, 2002    2002 Ron Paul 55:19 Expatriation helps control government waste. High-tax California can’t stop companies from moving to low-tax Nevada. Knowing this helps deter the big-spenders in the state capitol from wasting even more money. The politicians in Massachusetts must exercise some restraint because they know local businesses can flee to low-tax New Hampshire. Nations also should be subject to market discipline. This is why Washington politicians shouldn’t stop companies from escaping bad U.S. tax law. business BAD TAX POLICY SENDS COMPANIES OVERSEAS June 11, 2002    2002 Ron Paul 55:20 Expatriation protects American jobs. Rechartering in another jurisdiction doesn’t mean factories will go overseas. Nor does it require a company to move its headquarters. It simply means a company is chartered under the laws of a different jurisdiction, much as many American companies are chartered in Delaware, but operate factories and have their home offices in other states. In the case of expatriations, the newly formed foreign company still maintains its U.S. operations, but now won’t have to fire workers since it can compete more effectively with overseas businesses. business BAD TAX POLICY SENDS COMPANIES OVERSEAS June 11, 2002    2002 Ron Paul 55:22 Now is hardly the time, with the economy in the midst of recovery, for Washington politicians to make U.S. companies less competitive. Nor is it the time to give the IRS the power to prohibit businesses from rechartering in jurisdictions with more sensible tax laws. Instead of treating companies as if they’re federal property, Sens. Grassley and Baucus should be fixing the problems in the tax code. business Is America a Police State? June 27, 2002    2002 Ron Paul 64:24 Almost all of our economic activities depend upon receiving the proper permits from the federal government. Transactions involving guns, food, medicine, smoking, drinking, hiring, firing, wages, politically correct speech, land use, fishing, hunting, buying a house, business mergers and acquisitions, selling stocks and bonds, and farming all require approval and strict regulation from our federal government. If this is not done properly and in a timely fashion, economic penalties and even imprisonment are likely consequences. business Is America a Police State? June 27, 2002    2002 Ron Paul 64:30 Economic threats against business establishments are notorious. Rules and regulations from the EPA, the ADA, the SEC, the LRB, OSHA, etc. terrorize business owners into submission, and those charged accept their own guilt until they can prove themselves innocent. Of course, it turns out it’s much more practical to admit guilt and pay the fine. This serves the interest of the authoritarians because it firmly establishes just who is in charge. business Is America a Police State? June 27, 2002    2002 Ron Paul 64:32 Efforts to convict Bill Gates and others like him of an economic crime are astounding, considering his contribution to economic progress, while sources used to screen out terrorist elements from our midst are tragically useless. If business people are found guilty of even the suggestion of collusion in the marketplace, huge fines and even imprisonment are likely consequences. business Is America a Police State? June 27, 2002    2002 Ron Paul 64:111 The whole idea of government preventing crime is dangerous. To prevent crimes in our homes or businesses, government would need cameras to spy on our every move; to check for illegal drug use, wife beating, child abuse, or tax evasion. They would need cameras, not only on our streets and in our homes, but our phones, internet, and travels would need to be constantly monitored- just to make sure we are not a terrorist, drug dealer, or tax evader. business Unintended Consequences of the Drug War June 27, 2002    2002 Ron Paul 65:16 It was bad when drug laws gave the Mafia an opportunity to do big business. It was worse when the laws encouraged Colombian and Mexican drug cartels to obtain aircraft and heavy weapons. Now that the drug laws provide profits to people who want to kill Americans wholesale instead of retail, it’s time to change the laws. business Has Capitalism Failed? July 9, 2002    2002 Ron Paul 66:1 It is now commonplace and politically correct to blame what is referred to as the excesses of capitalism for the economic problems we face, and especially for the Wall Street fraud that dominates the business news. Politicians are having a field day with demagoguing the issue while, of course, failing to address the fraud and deceit found in the budgetary shenanigans of the federal government- for which they are directly responsible. Instead, it gives the Keynesian crowd that run the show a chance to attack free markets and ignore the issue of sound money. business Has Capitalism Failed? July 9, 2002    2002 Ron Paul 66:7 In the 1930s, it was quite popular to condemn the greed of capitalism, the gold standard, lack of regulation, and a lack government insurance on bank deposits for the disaster. Businessmen became the scapegoat. Changes were made as a result, and the welfare/warfare state was institutionalized. Easy credit became the holy grail of monetary policy, especially under Alan Greenspan, "the ultimate Maestro." Today, despite the presumed protection from these government programs built into the system, we find ourselves in a bigger mess than ever before. The bubble is bigger, the boom lasted longer, and the gold price has been deliberately undermined as an economic signal. Monetary inflation continues at a rate never seen before in a frantic effort to prop up stock prices and continue the housing bubble, while avoiding the consequences that inevitably come from easy credit. This is all done because we are unwilling to acknowledge that current policy is only setting the stage for a huge drop in the value of the dollar. Everyone fears it, but no one wants to deal with it. business Before the House Ways and Means Committee July 23, 2002    2002 Ron Paul 72:6 It may not be possible to design a replacement that will replicate the same benefits (of the FSC) to the same taxpayers and still satisfy the WTO. On this point, I concur with Chairman Thomas. The committee should recognize that there will be winners and losers with any change to the existing rules. However, I believe it is important to balance the needs of various affected industries and implement any proposed legislation in a manner that avoids disruption of current business plans and activities. business Before the House Ways and Means Committee July 23, 2002    2002 Ron Paul 72:8 The impact of U.S. tax rules on the international competitiveness of U.S. multinationals is much more significant an issue than it was forty years ago. Today, foreign markets provide an increasing amount of the growth opportunities for U.S. businesses. At the same time, competition from multinationals headquartered outside of the United States is becoming greater. Of the world’s 20 largest corporations, the number headquartered in the United States has declined from 18 in 1960 to just 8 in 1996. Around the world, 21,000 foreign affiliates of U.S. multinationals compete with about 260,000 foreign affiliates of foreign multinationals. business Before the House Ways and Means Committee July 23, 2002    2002 Ron Paul 72:9 If U.S. rules for taxing foreign source income are more burdensome than those of other countries, U.S. businesses will be less successful in global markets, with negative consequences for exports and jobs at home. I think a fair comparison of U.S. international tax rules and those of other nations shows that American businesses are increasingly put at a competitive disadvantage in the world marketplace. business Before the House Ways and Means Committee July 23, 2002    2002 Ron Paul 72:13 Taken all together, you find that a U.S.-based business operating internationally frequently pays a greater share of its income in foreign and U.S. tax than does a competing multinational company headquartered outside of the United States. Yet Congress wonders why corporate inversions are at an all-time high! business 25 July 2002 Monetary Practices    2002 Ron Paul 78:2 As the authors point out, our ability to understand the linkage between inflated money supplies and subsequent economic downturns is owing to the ground breaking work of the legendary economists of the Austrian school. This Austrian Business Cycle (or “ABC”) theory has long explained the inevitable downside that attends to a busting of the artificial bubble created by inflationary fiat monetary practices. business 25 July 2002 Monetary Practices    2002 Ron Paul 78:5 A CLASSIC HAYEKIAN HANGOVER (By Roger Garrison and Gene Callahan) Are investment booms followed by busts like drinking binges are followed by hangovers? Dubbing the idea “The Hangover Theory” (Slate, 12/3/98), Paul Krugman has attempted to denigrate the business-cycle theory introduced early last century by Austrian economist Ludwig von Mises and developed most notably by Nobelist F. A. Hayek. business 25 July 2002 Monetary Practices    2002 Ron Paul 78:12 Save more, and we get a market process that plays itself out as economic growth. Pump new money through credit markets, and we get a market process of a very different kind: It doesn’t play itself out; it does itself in. The investment binge is followed by a hangover. This is the Austrian theory in a nutshell. (Ironically, it is the theory that Alan Greenspan presented forty years ago when he lectured for the Nathaniel Branden Institute.) We believe that there is strong evidence that the United States is now in the hangover phase of a classic Mises-Hayek business cycle. business 25 July 2002 Monetary Practices    2002 Ron Paul 78:19 The business plans for many of the startups involved negative cash flows for the first 10 or 15 years, while they “built market share.” To keep the atmosphere festive, they needed the host to keep filling the punch bowl. But fears of inflation led to Federal Reserve tightening in late 1999, which helped bring MZM growth back into the single digits (8.5% for the 1999–2000 period). As the punch bowl emptied, the hangover — and the dot-com bloodbath — began. According to research from Webmergers.com, at least 582 Internet companies closed their doors between May 2000 and July of this year. The plunge in share price of many of those still alive has been gut wrenching. The NASDAQ retraced two years of gains in a little over a year. business 25 July 2002 Monetary Practices    2002 Ron Paul 78:22 “We are not in the midst of a financial panic, and recovery isn’t simply a matter of restoring confidence. Indeed, excessive confidence [fostered by unduly low interest rates maintained by rapid monetary growth? — RG & GC] may be part of the problem. Instead of being the victims of self-fulfilling pessimism, we may be suffering from self-defeating optimism. The driving force behind the current slowdown is a plunge in business investment. It now seems clear that over the last few years businesses spent too much on equipment and software and that they will be cautious about further spending until their excess capacity has been worked off. And the Fed cannot do much to change their minds, since equipment spending [at least when such spending has already proved to be excessive — RG & GC] is not particularly sensitive to interest rates.” business 25 July 2002 Monetary Practices    2002 Ron Paul 78:23 With Krugman on the verge of rediscovering the policy-induced self-reversing process that we call the Austrian theory of the business cycle, we confidently claim that current macroeconomic conditions are best described as a classic Hayekian hangover. The Austrian theory, of course, gives us no policy prescription for converting this ongoing hangover into renewed euphoria. But it does provide us with the best guide for avoiding future ones. business Department of Homeland Security 26 July 2002    2002 Ron Paul 80:7 We have also received a Congressional Budget Office (CBO) cost estimate suggesting that it will cost no less than $3 billion just to implement this new department. That is $3 billion dollars that could be spent to capture those responsible for the attacks of September 11 or to provide tax-relief to the families of the victims of that attack. It is three billion dollars that could perhaps be better spent protecting against future attacks, or even simply to meet the fiscal needs of our government. Since those attacks this Congress has gone on a massive spending spree. Spending three billion additional dollars now, simply to rearrange offices and command structures, is not a wise move. In fact, Congress is actually jeopardizing the security of millions of Americans by raiding the social security trust fund to rearrange deck chairs and give big spenders yet another department on which to lavish porkbarrel spending. The way the costs of this department have skyrocketed before the Department is even open for business leads me to fear that this will become yet another justification for Congress to raid the social security trust fund in order to finance pork-barrel spending. This is especially true in light of the fact that so many questions remain regarding the ultimate effect of these structural changes. Moreover, this legislation will give the Executive Branch the authority to spend money appropriated by Congress in ways Congress has not authorized. This clearly erodes Constitutionally- mandated Congressional prerogatives relative to control of federal spending. business Avoid War With Iraq 4 September 2002    2002 Ron Paul 82:11 There are economic reasons that we must be careful for. We can make serious economic mistakes. It is estimated that this venture into Iraq may well cost over a hundred billion dollars. Our national debt right now is increasing at a rate of over $450 billion and we are talking about spending another hundred billion dollars on an adventure that we do not know what the outcome will be and how long this will last? What will happen to oil prices? What will happen to the recession that we are in? What is going to happen to the deficit? All kinds of economic ramification. So we better not make the mistake of going into something that really we have no business getting into. business The Price Of War 5 September 2002    2002 Ron Paul 83:43 The basic moral principle underpinning a noninterventionist foreign policy is that of rejecting the initiation of force against others. It is based on nonviolence and friendship unless attacked, with determination for self-defense while avoiding confrontation, even when we disagree with the way other countries run their affairs. It simply means that we should mind our own business and not be influenced by the special interests that have an axe to grind or benefits to gain by controlling other foreign policy. Manipulating our country into conflicts that are none of our business and of no security interest provides no benefits to us, while exposing us to great risk financially and militarily. business The Price Of War 5 September 2002    2002 Ron Paul 83:44 Our troops would be brought home under such conditions, systematically and soon. Being in Europe and Japan for over 50 years is long enough. The failure of Vietnam resulted in no occupation and a more westernized country now doing business with the United States. There is no evidence that the military approach in Vietnam was superior to that of trade and friendship. The lack of trade and sanctions have not served us well in Cuba or in the Middle East. The mission for our Coast Guard would change if our foreign policy became noninterventionist. They, too, would come home, protect our coast, and stop being the enforcers of bureaucratic laws that either should not exist or should be a State function. business The Price Of War 5 September 2002    2002 Ron Paul 83:50 A noninterventionist foreign policy would not condone subsidies to our corporations through programs like the Export-Import Bank and the Overseas Private Investment Corporation. These programs guarantee against losses while the risk takers want our military to protect their investments from political threats. This current flawed policy removes the tough decisions of when to invest in foreign countries and diminishes the pressure on those particular countries to clean up their political acts in order to entice foreign capital to move into their country. Today’s foreign policy encourages bad investments. Ironically this is all done in the name of free trade and capitalism, but it does more to export jobs and businesses than promote free trade. Yet when it fails, capitalism and freedom are blamed. business Abolishing The Federal Reserve 10 September 2002    2002 Ron Paul 86:19 A fixed money stock means that overall prices are generally more stable. The problems of inflation and business cycles disappear entirely. Under the gold standard, in fact, increased market productivity causes prices to generally decline over time as the purchasing power of money increases. In 1967, Alan Greenspan once wrote an article called Gold and Economic Freedom. He wrote that: business Rent-To-Own Contracts 18 september 2002    2002 Ron Paul 88:5 In addition to exceeding Congress’s constitutional authority, H.R. 1701, like all federal regulatory schemes, could backfire and harm the very people it was intended to help. This is because any regulation inevitably raises the cost of doing business. These higher costs are passed along to the consumer in the form of either higher prices or fewer choices. The result of this is that marginal customers are priced out of the market. These consumers may prefer to sign contracts that do not meet federal standards as opposed to not having access to any rent-to-own contracts, but the Congress will deny them that option. According to the proponents of H.R. 1701, if people cannot obtain desired goods and services under terms satisfactory to the government, they are better off being denied those goods and services. Mr. Chairman, this type of “government knows best” legislation represents the worst type of paternalism and is totally inappropriate for a free society. business “You Are A Suspect” 14 November 2002    2002 Ron Paul 103:1 Mr. PAUL. Mr. Speaker, I urge my colleagues to read “You are a Suspect” by William Safire in today’s New York Times. Mr. Safire, who has been one of the media’s most consistent defenders of personal privacy, details the Defense Department’s plan to establish a system of “Total Information Awareness.” According to Mr. Safire, once this system is implemented, no American will be able to use the internet to fill a prescription, subscribe to a magazine, buy a book, send or receive e-mail, or visit a web site free from the prying eyes of government bureaucrats. Furthermore, individual internet transactions will be recorded in “a virtual centralized grand database.” Implementation of this project would shred the Fourth Amendment’s requirement that the government establish probable cause and obtain a search warrant before snooping into the private affairs of its citizens. I hope my colleagues read Mr. Safire’s article and support efforts to prevent the implementation of this program, including repealing any legislation weakening privacy protections that Congress may inadvertently have passed in the rush to complete legislative business this year. business Stop Identity Theft – Make Social Security Numbers Confidential January 7, 2003    2003 Ron Paul 4:13 Second, the federal government has been creating proprietary interests in private information for certain state-favored special interests. Perhaps the most outrageous example of phony privacy protection is the “medical privacy” regulation, which allows medical researchers, certain business interests, and law enforcement officials’ access to health care information, in complete disregard of the Fifth Amendment and the wishes of individual patients! Obviously, “privacy protection” laws have proven greatly inadequate to protect personal information when the government is the one providing or seeking the information. business Republic Versus Democracy 29 January 2003    2003 Ron Paul 6:33 Public financing of housing, for instance, benefits builders, bureaucrats, insurance companies and financial institutions while the poor end up in drug-invested, crime-ridden housing projects. For the same reason, not only do business leaders not object to this system but they also become strong supporters of welfare programs and foreign aid. business Republic Versus Democracy 29 January 2003    2003 Ron Paul 6:34 Big business strongly supports programs like the Export Import Bank, the IMF, the World Bank, foreign subsidies and military adventurism. Tax Code revisions and government contracts mean big profits for those who are well-connected. Concern for individual liberty is pushed to the bottom of the priority list for both the poor and the rich welfare recipients. business Republic Versus Democracy 29 January 2003    2003 Ron Paul 6:48 The turmoil and dangers of pure democracy are known. We should get prepared. But it will be the clarity with which we plan its replacement that determines the amount of pain and suffering endured during the transition to another system. Hopefully, the United States Congress and other government leaders will come to realize the seriousness of our current situation and replace the business-as-usual attitude, regardless of political demands and growing needs of a boisterous majority. business Republic Versus Democracy 29 January 2003    2003 Ron Paul 6:87 In a free society with totally free markets, the votes by consumers through their purchases or refusal to purchase determine which businesses survive and which fail. This is freechoice democracy, and it is a powerful force in producing and bringing about economic efficiency. In today’s democracy by decree, government laws dictate who receives the benefit and who gets shortchanged. Conditions of employment and sales are taxed and regulated at varying rates, and success or failure is too often dependent on government action than by consumers’ voting in the marketplace by their spending habits. Individual consumers by their decisions should be in charge, not governments armed with mandates from the majority. business End the Income Tax – Pass the Liberty Amendment January 28, 2003    2003 Ron Paul 7:5 Income taxes not only diminish liberty, they retard economic growth by discouraging work and production. Our current tax system also forces Americans to waste valuable time and money on complacence with an ever-more complex tax code. The increased interest in flat-tax and national sales tax proposals, as well as the increasing number of small businesses that questioning the Internal Revenue Service’s (IRS) “withholding” system provides further proof that America is tired of the labyrinthine tax code. Americans are also increasingly fed up with an IRS that continues to ride roughshod over their civil liberties, despite recent “pro-taxpayer” reforms. business The Family Education Freedom Act February 5, 2003    2003 Ron Paul 13:2 The Family Education Freedom Act returns the fundamental principal of a truly free economy to America’s education system: what the great economist Ludwig von Mises called “consumer sovereignty”. Consumer sovereignty simply means consumers decide who succeeds or fails in the market. Businesses that best satisfy consumer demand will be the most successful. Consumer sovereignty is the means by which the free market maximizes human happiness. business American Citizenship Amendment 20 March 2003    2003 Ron Paul 38:3 What the current state of events has led to is a booming business in smuggling pregnant mothers over the border to give birth to new “American” citizens, who in turn become eligible for all the benefits thereof. Practically, what this does is cheapen citizenship: rather than impart all the obligations and responsibilities of being an American it becomes merely a ticket to welfare and other benefits. The history of the United States is that of immigrants: individuals from diverse backgrounds accepted the obligations of citizenship in exchange for the great benefits of living in the freest nation on earth. business Rice Farmers Fairness Act 2 April 2003    2003 Ron Paul 45:4 My legislation is very simple and direct in dealing with this problem. It says that those who have tenant rice farmers producing rice in Texas must agree to continue to maintain rice in their crop rotation if they wish to receive subsidies. In this way, we can remove the perverse incentive, which the Federal Government has provided to landowners to exit the rice business and thereby put the entire rice infrastructure at risk. business War No Excuse For Frivolous Spending 3 April 2003    2003 Ron Paul 46:4 On foreign spending, this bill actually provides one billion dollars in foreign aid to Turkey — even though that country refused the U.S. request for cooperation in the war on Iraq. One billion dollars to a country that thumbed its nose at an American request for assistance? How is this possibly an appropriate expenditure of taxpayer money? Additionally, this “war supplemental” has provided cover for more of the same unconstitutional foreign aid spending. It provides 2.5 billion dollar for Iraqi reconstruction when Americans have been told repeatedly that reconstruction costs will be funded out of Iraqi oil revenues. It also ensures that the American taxpayer will subsidize large corporations that wish to do business in Iraq by making transactions with Iraq eligible for support from the Export-Import Bank. It sends grants and loans in excess of 11.5 billion dollars to Jordan, Israel, Egypt, and Afghanistan — above and beyond the money we already send them each year. business War No Excuse For Frivolous Spending 3 April 2003    2003 Ron Paul 46:5 Incredibly, this bill sends 175 million dollars in aid to Pakistan even though it was reported in April that Pakistan purchased ballistic missiles from North Korea! Furthermore, it is difficult to understand how $100 million to Colombia, $50 million to the Gaza Strip, and $200 million for “Muslim outreach” has anything to do with the current war in Iraq. Also, this bill spends $31 million to get the federal government into the television broadcasting business in the Middle East. With private American news networks like CNN available virtually everywhere on the globe, is there any justification to spend taxpayer money to create and fund competing state-run networks? Aren’t state-run news networks one of the features of closed societies we have been most critical of in the past? business Second Amendment Restoration Act 9 April 2003    2003 Ron Paul 47:4 These attacks on gun manufacturers are disturbing, since the gun industry provides our law enforcement and military with the necessary tools needed to fight crime and defend our country. We should be helping our law enforcement officers and military, not hurting them by putting reputable gun manufacturers out of business. business Repeal the So-Called “Medical Privacy Rule” April 9, 2003    2003 Ron Paul 49:7 In addition to law enforcement, these so-called privacy protection regulations create a privileged class of people with a federally-guaranteed right to see an individual’s medical records without the individual’s consent. My medical office recently received a Model “Privacy Act Compliance” form. This three-page form lists over 20 situations where medical information may be disclosed without individual consent. Medical information may be disclosed to attorneys, business associates of the provider, and federal agencies conducting “health oversight activities.” Medical information may also be divulged without consent to insurance companies and medical researchers! business The Wisdom Of Tax Cuts 6 May 2003    2003 Ron Paul 56:4 The process by which the Fed monetizes debt and accommodates Congress contributes to, if not causes, most of our problems. This process of government financing generates the business cycle and thus increases unemployment. It destroys the value of the dollar and thus causes price inflation. It encourages deficits by reducing restraints on congressional spending. It encourages an increase in the current account deficit, the dollar being the reserve currency of the world, and causes huge foreign indebtedness. It reflects a philosophy of instant gratification that says, live for the pleasures of today and have future generations pay the bills. business The Flag Burning Amendment June 3, 2003    2003 Ron Paul 57:3 It has also been said that if one does not support this amendment to the flag that they are disloyal to the military, and that cannot possibly be true. I have served 5 years in the military, and I do not feel less respectful of the military because I have a different interpretation on how we should handle the flag. But nevertheless, I think what we are doing here is very serious business because it deals with more than just the flag. business Establishin Joint Committee To Review House And Senate Matters Assuring Continuing Representation And Congressional Operations For The American People 5 June 2003    2003 Ron Paul 64:6 Finally, Mr. Speaker, I wish to question the rush under which this bill is being brought to the floor. Until this morning, most members had no idea this bill would be considered today! The rules committee began its mark-up of the bill at 9:15 last night and by 9:31 the report was filed and the bill placed on the House Calendar. Then, after Congress had finished legislative business for the day and with only a handful of members on the floor, unanimous consent was obtained to consider this bill today. business Keep Out Of Middle East Conflicts 25 June 2003    2003 Ron Paul 70:5 I hope the peoples of the Middle East are able to resolve their differences, but because whether they decide or not is not our business I urge a no vote on this resolution. business Neo – CONNED ! July 10, 2003    2003 Ron Paul 73:58 In Machiavelli on Modern Leadership , Ledeen praises a business leader for correctly understanding Machiavelli: “There are no absolute solutions. It all depends. What is right and what is wrong depends on what needs to be done and how.” This is a clear endorsement of situational ethics and is not coming from the traditional left. It reminds me of: “It depends on what the definition of the word ‘is’ is.” business Neo – CONNED ! July 10, 2003    2003 Ron Paul 73:80 There’s no serious opposition to the expanding welfare state, with rapid growth of the education, agriculture and medical-care bureaucracy. Support for labor unions and protectionism are not uncommon. Civil liberties are easily sacrificed in the post 9-11 atmosphere prevailing in Washington. Privacy issues are of little concern, except for a few members of Congress. Foreign aid and internationalism—in spite of some healthy criticism of the UN and growing concerns for our national sovereignty—are championed on both sides of the aisle. Lip service is given to the free market and free trade, yet the entire economy is run by special-interest legislation favoring big business, big labor and, especially, big money. business The Monetary Freedom And Accountability Act 17 July 2003    2003 Ron Paul 79:17 The gold bugs appear to be basing their identification of a world gold shortage on industry data, much of which has been summarized in two papers prepared by four different gold analysts at different times using separate methods. The first paper was written by governmental investment adviser Frank Veneroso and his associate, mining analyst Declan Costelloe. Titled Gold Derivatives, Gold Lending: Official Management of the Gold Price and the Current State of the Gold Market, it was presented at the 2002 International Gold Symposium in Lima, Peru, and estimates the gold deficit of the central banks at between 10,000 and 15,000 tonnes. The second paper, Gold Derivatives: Moving Towards Checkmate, by Mike Bolser, a retired businessman, and Reginald H. Howe, a private investor and proprietor of the Website www.goldensextant.com, estimates the alleged shortage of central-bank gold at between 15,000 and 16,000 tonnes — nearly a decade’s worth of mine production. business Abolishing The Federal Reserve 17 July 2003    2003 Ron Paul 83:14 The answer is simple: The Federal Reserve, the government created institution that was founded to “stabilize” the value of the dollar and “smooth” “out the business cycle”, which has the legal authority to create money out of thin air, is nothing more than the greatest manipulator of interest rates in the history of the world. business Abolishing The Federal Reserve 17 July 2003    2003 Ron Paul 83:22 The winners of the FED’s interest rate manipulations include the nations’ financial institutions, business borrowers and government. The losers are anyone who wants to save for the proverbial rainy day and accumulate money for a down payment on a house or other family need. business Paper Money and Tyranny September 5, 2003    2003 Ron Paul 93:4 If honest money and freedom are inseparable, as Mr. Greenspan argued, and paper money leads to tyranny, one must wonder why it’s so popular with economists, the business community, bankers, and our government officials. The simplest explanation is that it’s a human trait to always seek the comforts of wealth with the least amount of effort. This desire is quite positive when it inspires hard work and innovation in a capitalist society. Productivity is improved and the standard of living goes up for everyone. This process has permitted the poorest in today’s capitalist countries to enjoy luxuries never available to the royalty of old. business Paper Money and Tyranny September 5, 2003    2003 Ron Paul 93:16 In many societies the middle class has actually been wiped out by monetary inflation, which always accompanies fiat money. The high cost of living and loss of jobs hits one segment of society, while in the early stages of inflation, the business class actually benefits from the easy credit. An astute stock investor or home builder can make millions in the boom phase of the business cycle, while the poor and those dependent on fixed incomes can’t keep up with the rising cost of living. business Paper Money and Tyranny September 5, 2003    2003 Ron Paul 93:20 Although the money issue today is of little political interest to the parties and politicians, it should not be ignored. Policy makers must contend with the consequences of the business cycle, which result from the fiat monetary system under which we operate. They may not understand the connection now, but eventually they must. business Paper Money and Tyranny September 5, 2003    2003 Ron Paul 93:39 That’s why the Fed screams about a coming deflation, so it can continue the devaluation of the dollar unabated. The politicians don’t mind, the bankers welcome the business activity, and the recipients of the funds passed out by Congress never complain. The greater the debt, the greater the need to inflate the currency, since debt cannot be the source of long-term wealth. Individuals and corporations who borrow too much eventually must cut back and pay off debt and start anew, but governments rarely do. business Paper Money and Tyranny September 5, 2003    2003 Ron Paul 93:43 Artificially low interest rates deceive investors into believing that rates are low because savings are high and represent funds not spent on consumption. When the Fed creates bank deposits out of thin air making loans available at below-market rates, mal-investment and overcapacity results, setting the stage for the next recession or depression. The easy credit policy is welcomed by many: stock-market investors, home builders, home buyers, congressional spendthrifts, bankers, and many other consumers who enjoy borrowing at low rates and not worrying about repayment. However, perpetual good times cannot come from a printing press or easy credit created by a Federal Reserve computer. The piper will demand payment, and the downturn in the business cycle will see to it. The downturn is locked into place by the artificial boom that everyone enjoys, despite the dreams that we have ushered in a “new economic era.” Let there be no doubt: the business cycle, the stagflation, the recessions, the depressions, and the inflations are not a result of capitalism and sound money, but rather are a direct result of paper money and a central bank that is incapable of managing it. business Paper Money and Tyranny September 5, 2003    2003 Ron Paul 93:59 Big business and banking deserve our harsh criticism, but not because they are big or because they make a lot of money. Our criticism should come because of the special benefits they receive from a monetary system designed to assist the business class at the expense of the working class. Labor leader Samuel Gompers understood this and feared paper money and a central bank while arguing the case for gold. Since the monetary system is used to finance deficits that come from war expenditures, the military industrial complex is a strong supporter of the current monetary system. business Tribute To Larry Reed 25 september 2003    2003 Ron Paul 102:2 Prior to founding Mackinac, Larry served as Chair of the Department of Economics at Northwood University in Midland, Michigan. While at Northwood, Larry developed the university dual major in Economic and Business management and founded the University’s “Freedom Seminar.” Larry has also been a candidate for Congress. business Are Vouchers the Solution for Our Failing Public Schools? September 30, 2003    2003 Ron Paul 103:8 Voucher supporters will fall back on the argument that no school is forced to accept vouchers. However, those schools that accept vouchers will have a competitive advantage over those that do not because they will be perceived as being superior since they have the “government’s seal of approval.” Thus, those private schools that retain their independence will likely be forced out of business by schools that go on the government dole. business Statement Opposing Trade Sanctions against Syria October 15, 2003    2003 Ron Paul 106:1 Mr. Speaker, I would like to express my strong opposition to this ill-conceived and ill-timed legislation. This bill will impose what is effectively a trade embargo against Syria and will force the severance of diplomatic and business ties between the United States and Syria. It will also significantly impede travel between the United States and Syria. Worse yet, the bill also provides essentially an open-ended authorization for the president to send US taxpayer money to Syria should that country do what we are demanding in this bill. business Statement Opposing Trade Sanctions against Syria October 15, 2003    2003 Ron Paul 106:11 Mr. Speaker: history is replete with examples of the futility of sanctions and embargoes and travel bans. More than 40 years of embargo against Cuba have not produced the desired change there. Sadly, embargoes and sanctions most often hurt those least responsible. A trade embargo against Syria will hurt American businesses and will cost American jobs. It will make life more difficult for the average Syrian - with whom we have no quarrel. Making life painful for the population is not the best way to win over hearts and minds. I strongly urge my colleagues to reject this counterproductive bill. business Misguided Policy Of Nation Building In Iraq 17 October 2003    2003 Ron Paul 111:10 What we are involved here now with our intervention in Iraq and Afghanistan and other places, we are involved in nation-building. And nobody in this country campaigns, whether it is for the Presidency or for a congressional seat or a Senate seat, nobody goes out and says, Elect me to Congress because I want to get into the business of nation- building. Nobody does that and yet really that is what we are talking about today. business Congress Shouldn’t Censor Foreign Leaders 28 October 2003    2003 Ron Paul 113:7 I strongly believe that we need to get out of the business of threatening people over what they think and say and instead trust that our own principles, freedom and liberty, can win out in the marketplace of ideas over bigotry and hate. When the possibility of persuasion is abandoned, the only recourse for the aggrieved is violence. Haven’t we seen enough of this already? business Encouraging People’s Republic Of China To Fulfill Commitments Under International Trade Agreements, Support United States Manufacturing Sector, And Establish Monetary And Financial Market Reforms 29 october 2003    2003 Ron Paul 115:10 Instead of promoting global economic government, the United States Congress should reform those policies that reduce our manufacturers’ competitiveness. Recently, a financial journalist visited with businessmen who are launching new enterprises in China. When he asked them why they chose to invest in China, they answered: “It is so much easier to start a business in China than in the United States, especially in places like Massachusetts and California.” This answer should send a clear message to every lawmaker in America: the taxes and regulations imposed on American businesses are damaging economic growth and killing jobs. If we were serious about creating jobs, we would be working on an aggressive agenda of cutting taxes and repealing needless regulations. business Don’t Meddle With Religion In Vietnam 19 November 2003    2003 Ron Paul 119:1 Mr. PAUL. Mr. Speaker, I am opposed to this ill-conceived and ill-timed bill. I would like to remind my colleagues that according to our own Constitution, Congress is prohibited from making any law “respecting the establishment of religion or the free exercise thereof.” Yet are we not doing that today — albeit in a country some 10,000 miles away? Why on earth are we commending one particular church in Vietnam in the name of “religious freedom”? At the risk of being blunt, what business is the Unified Buddhist Church of Vietnam of the United States Congress? The answer, of course, is that this legislation is of a much more political than a religious nature: this bill tells the Vietnamese government how it should enforce its own constitution, commits the United States government to promoting religious freedom in Vietnam, and tells the U.S. embassy staff in Vietnam to “closely monitor” religious issues in Vietnam. It is an attempt to meddle in the affairs of Vietnam and force them to adopt the kinds of laws we think they should have. Mr. Speaker, as much as we value our own religious liberty, we must realize that setting the example of the benefits of a society that values such liberty is much more effective than demanding that other countries pass the kinds of laws we want them to pass. The unintended consequences of this otherwise well-meaning legislation is that relations with the Vietnamese government will likely suffer, making it less likely that Vietnam’s leaders look favorably upon our own history of religious liberty. business Conference Report On H.R. 2417 Intelligence Authorization Act For Fiscal year 2004 20 November 2003    2003 Ron Paul 121:2 What most concerns me about this conference report, though, is something that should outrage every single American citizen. am referring to the stealth addition of language drastically expanding FBI powers to secretly and without court order snoop into the business and financial transactions of American citizens. These expanded internal police powers will enable the FBI to demand transaction records from businesses, including auto dealers, travel agents, pawnbrokers and more, without the approval or knowledge of a judge or grand jury. This was written into the bill at the 11th hour over the objections of members of the Senate Judiciary Committee, which would normally have jurisdiction over the FBI. The Judiciary Committee was frozen out of the process. It appears we are witnessing a stealth enactment of the enormously unpopular “Patriot II” legislation that was first leaked several months ago. Perhaps the national outcry when a draft of the Patriot II act was leaked has led its supporters to enact it one piece at a time in secret. Whatever the case, this is outrageous and unacceptable. I urge each of my colleagues to join me in rejecting this bill and its incredibly dangerous expansion of Federal police powers. business A Wise Consistency February 11, 2004    2004 Ron Paul 2:11 Trade as an issue of personal liberty is totally ignored. But simply put, one ought to have the right to spend one’s own money any way one wants. Buying cheap foreign products can have a great economic benefit for our citizens and serve as an incentive to improve production here at home. It also puts pressure on us to reassess the onerous regulations and tax burdens placed on our business community. Monopoly wages that force wage rates above the market also are challenged when true free trade is permitted. And this, of course, is the reason free trade is rejected. Labor likes higher-than-market wages, and business likes less competition. In the end, consumers — all of us — suffer. Ironically, the free traders in Congress were the most outspoken opponents of drug reimportation, with a convoluted argument claiming that the free-trade position should prohibit the reimportation of pharmaceuticals. So much for a wise consistency! business A Wise Consistency February 11, 2004    2004 Ron Paul 2:13 Paper Money, Inflation, and Economic Pain : Paper money and inflation have never provided long-term economic growth, nor have they enhanced freedom. Yet the world, led by the United States, lives with a financial system awash with fiat currencies and historic debt as a consequence. No matter how serious the problems that come from central-bank monetary inflations — the depressions and inflation, unemployment, social chaos, and war — the only answer has been to inflate even more. Except for the Austrian free-market economists, the consensus is that the Great Depression was prolonged and exacerbated by the lack of monetary inflation. This view is held by Alan Greenspan, and reflected in his January 2001 response to the stock market slump and a slower economy — namely a record monetary stimulus and historically low interest rates. The unwillingness to blame the slumps on the Federal Reserve’s previous errors, though the evidence is clear, guarantees that greater problems for the United States and the world economy lie ahead. Though there is adequate information to understand the real cause of the business cycle, the truth and proper policy are not palatable. Closing down the engine of inflation at any point does cause short-term problems that are politically unacceptable. But the alternative is worse, in the long term. It is not unlike a drug addict demanding and getting a fix in order to avoid the withdrawal symptoms. Not getting rid of the addiction is a deadly mistake. While resorting to continued monetary stimulus through credit creation delays the pain and suffering, it inevitably makes the problems much worse. Debt continues to build in all areas — personal, business, and government. Inflated stock prices are propped up, waiting for another collapse. Mal-investment and overcapacity fail to correct. Insolvency proliferates without liquidation. These same errors have been prolonging the correction in Japan for 14 years, with billions of dollars of non-performing loans still on the books. Failure to admit and recognize that fiat money, mismanaged by central banks, gives us most of our economic problems, along with a greater likelihood for war, means we never learn from our mistakes. Our consistent response is to inflate faster and borrow more, which each downturn requires, to keep the economy afloat. Talk about a foolish consistency! It’s time for our leaders to admit the error of their ways, consider the wise consistency of following the advice of our Founders, and reject paper money and central bank inflationary policies. business A Wise Consistency February 11, 2004    2004 Ron Paul 2:23 -The internal affairs and the need for nation building in Iraq are none of our business. business The Financial Services Committees “Views and Estimates for 2005” February 26, 2004    2004 Ron Paul 7:3 As investigative reporter John Berleau detailed in his Insight magazine article (“Sarbanes-Oxley is a Business Disaster”), the new mandates in Sarbanes-Oxley have caused directorship, accounting, audit, and legal fees to double. In addition, the cost of directors’ liability insurance has almost doubled since Sarbanes-Oxley became law. Not surprisingly, the impact of these new costs hit small businesses especially hard — the traditional engine of job creation in America. business The Financial Services Committees “Views and Estimates for 2005” February 26, 2004    2004 Ron Paul 7:4 The costs of compliance with Sarbanes-Oxley divert capital away from activities that create jobs. Yet the committee is actually considering imposing Sarbanes-Oxley-like regulations on the mutual funds industry! Instead of expanding the regulatory state, the committee should examine the economic effects of Sarbanes-Oxley and at least pass legislation exempting small businesses from the law’s requirements. business An Indecent Attack on the First Amendment March 10, 2004    2004 Ron Paul 14:20 If we accept the principle that these dangers must be prevented through coercive government restrictions on expression, it must logically follow that all dangers must be stamped out, especially those that are even more dangerous than those already dealt with. This principle is adhered to in all totalitarian societies. That means total control of freedom of expression of all political and religious views. This certainly was the case with the Soviets, the Nazis, the Cambodians, and the Chinese communists. And yet these governments literally caused the deaths of hundreds of millions of people throughout the 20th Century. This is the real danger, and if we’re in the business of protecting the people from all danger, this will be the logical next step. business An Indecent Attack on the First Amendment March 10, 2004    2004 Ron Paul 14:23 Rush Limbaugh has it right (at least on this one), and correctly fears the speech police. He states: “I’m in the free speech business,” as he defends Howard Stern and criticizes any government effort to curtail speech on the airways, while recognizing the media companies’ authority and responsibility to self-regulate. business Federalizing Tort Law 10 March 2004    2004 Ron Paul 15:5 Finally, Mr. Chairman, I would remind the food industry that using unconstitutional federal powers to restrict state lawsuits makes it more likely those same powers will be used to impose additional federal control over the food industry. Despite these lawsuits, the number one threat to business remains a federal government freed of its Constitutional restraints. After all, the federal government imposes numerous taxes and regulations on the food industry, often using the same phony “pro-consumer” justifications used by the trial lawyers. Furthermore, while small businesses, such as fast-food franchises, can move to another state to escape flawed state tax, regulatory, or legal policies, they cannot as easily escape destructive federal regulations. Unconstitutional expansions of federal power, no matter how just the cause may seem, are not in the interests of the food industry or of lovers of liberty. business Undermining First Amendment 11 March 2004    2004 Ron Paul 16:6 I would like to close by quoting someone who is obviously not a libertarian and obviously not a liberal who has great concern about what we are doing, and he comes from the conservative right, Rush Limbaugh. He said: “If the government is going to ‘censor’ what they think is right and wrong, what happens if a whole bunch John Kerrys or Terry McAuliffes start running this country and decide conservative views are leading to violence? I am in the free speech business. It is one thing for a company to determine if they are going to be a party to it. It is another thing for the government to do it.” business Undermining First Amendment 11 March 2004    2004 Ron Paul 16:7 Mr. Speaker, we all should be in the free speech business. business Providing For Consideration Of H.R. 3717, Broadcast Decency Enforcement Act Of 2004 11 March 2004    2004 Ron Paul 17:11 I am in the free speech business. It’s one thing for a company to determine if they are going to be party to it. It’s another thing for the government to do it. business The Television Consumer Freedom Act 24 March 2004    2004 Ron Paul 22:6 The Television Consumer Freedom Act also repeals federal regulations that mandate that all TVs sold in the United States contain “digital technology.” In complete disregard of all free market and constitutional principles, the FCC actually plans to forbid consumers from buying TVs, after 2006 that are not equipped to carry digital broadcasts. According to Stephen Moore of the CATO Institute, this could raise the price of a TV by as much as $250 dollars. While some television manufactures and broadcasters may believe they will benefit from this government-imposed price increase, they will actually lose business as consumers refrain from purchasing new TVs because of the government mandated price increase. business The Child Health Care Affordability Act 24 March 2004    2004 Ron Paul 23:3 As an OB–GYN who has had the privilege of delivering more than four thousand babies, I know how important it is that parents have the resources to provide adequate health care for their children. The inability of many working Americans to provide health care for their children is rooted in one of the great inequities of the tax code — Congress’ failure to allow individuals the same ability to deduct health care costs that it grants to businesses. As a direct result of Congress’ refusal to provide individuals with health care related tax credits, parents whose employers do not provide health insurance have to struggle to provide health care for their children. Many of these parents work in low-income jobs; oftentimes, their only recourse for health care is the local emergency room. business The Lessons of 9/11 April 22, 2004    2004 Ron Paul 27:24 The first point is to understand who assumes most of the responsibility for the security of our homes and businesses in a free society. It’s not the police. There are too few of them, and it’s not their job to stand guard outside our houses or places of business. More crime occurs in the inner city, where there are not only more police, but more restrictions on property owners’ rights to bear and use weapons if invaded by hoodlums. In safer rural areas, where every home has a gun and someone in it who is willing to use it is, there is no false dependency on the police protecting them, but full reliance on the owner’s responsibility to deal with any property violators. This understanding works rather well—at least better than in the inner cities where the understanding is totally different. business The Lessons of 9/11 April 22, 2004    2004 Ron Paul 27:34 Instead, we have chaos in Iraq while the Islamists are being financed by a booming drug business from U.S.-occupied Afghanistan. business Bill Would Not Bring Middle East Peace 23 June 2004    2004 Ron Paul 40:4 I also must object to the one-sidedness of this legislation. Like so many that have come before it, this resolution takes sides in a conflict that has nothing to do with us. Among other things, it affirms Israel as a “Jewish state.” Is it really our business to endorse a state church in a foreign country? What message does this send from the United States to Israeli citizens who are not Jewish? business Opposing H. Res. 676 23 June 2004    2004 Ron Paul 42:2 The Civil Rights Act of 1964 gave the federal government unprecedented power over the hiring, employee relations, and customer service practices of every business in the country. The result was a massive violation of the rights of private property and contract, which are the bedrocks of free society. The federal government has no legitimate authority to infringe on the rights of private property owners to use their property as they please and to form (or not form) contracts with terms mutually agreeable to all parties. The rights of all private property owners, even those whose actions decent people find abhorrent, must be respected if we are to maintain a free society. business Opposing H. Res. 676 23 June 2004    2004 Ron Paul 42:3 This expansion of federal power was based on an erroneous interpretation of the congressional power to regulate interstate commerce. The framers of the Constitution intended the interstate commerce clause to create a free trade zone among the states, not to give the federal government regulatory power over every business that has any connection with interstate commerce. business Opposing H. Res. 676 23 June 2004    2004 Ron Paul 42:4 The Civil Rights act of 1964 not only violated the Constitution and reduced individual liberty; it also failed to achieve its stated goals of promoting racial harmony and a color-blind society. Federal bureaucrats and judge’s cannot read minds to see if actions are motivated by racism. Therefore, the only way the federal government could ensure an employer was not violating the Civil Rights Act of 1964 was to ensure that the racial composition of a business’s workforce matched the racial composition of a bureaucrat or judges defined body of potential employees. Thus, bureaucrats began forcing employers to hire by racial quota. Racial quotas have not contributed to racial harmony or advanced the goal of a color-blind society. Instead, these quotas encouraged racial balkanization, and fostered racial strife. business Government Spending – A Tax on the Middle Class July 8, 2004    2004 Ron Paul 52:14 The Fed’s great power over the money supply, interest rates, the business cycle, unemployment, and inflation is wielded with essentially no Congressional oversight or understanding. The process of inflating our currency to pay for government debt indeed imposes a tax without legislative authority. business Millennium Challenge Account — Part 2 15 July 2004    2004 Ron Paul 59:2 Let me follow up on the point I made earlier about the good intentions of a program like this to promote free market changes in certain countries, but, unfortunately, this backfires because once the money gets in the hands of the government we then require them to develop partnerships or alliances with businesses, which is exactly the opposite of free markets. This is closer to crony capitalism or fascism when we combine government money with business interests. business Millennium Challenge Account — Part 2 15 July 2004    2004 Ron Paul 59:3 At the same time, we know that our corporations will also participate in these programs. So the money once again leaves the people of this country, many times the poor, and goes to these foreign aid programs which subsidize certain governments, solidifying powers of certain politicians, which then allows fungibility of their other funds to do other things and then encourage business partnerships between government and business which is not free markets, which literally is undermining the move that I think is intended and that is to improve the conditions of other countries. business Millennium Challenge Account — Part 2 15 July 2004    2004 Ron Paul 59:4 If the conditions of a country are amenable to capitalism and investment, there is never a problem of a lack of investors. The fact that we have to do this, that means there are flaws in the system. This will not improve it. It actually makes it worse. Just because you have partnership with businesses does not mean you are moving toward free enterprise. That means you are moving toward a system of interventionism, or crony capitalism. It is not true reform. business Financing Operations, Export Financing, And Related Programs Appropriations Act, 2005 15 July 2004    2004 Ron Paul 60:3 I am in strong support of this amendment, but, like the gentleman from California, I do not support this for the purpose of collecting more taxes, but I do think it is a message to us here that if we do not revise our tax system and our regulatory system we will prompt more and more business to leave this country. business The 9-11 Intelligence Bill: More Bureaucracy, More Intervention, Less Freedom October 8, 2004    2004 Ron Paul 77:13 This bill also increases our counterproductive practice of sending United States’ taxpayer money abroad to prop up selected foreign media, which inexplicably are referred to as “independent media.” This is an unconstitutional misuse of tax money. Additionally, does anyone believe that citizens of countries where the US subsidizes certain media outlets take kindly to, or take seriously, such media? How would Americans feel if they knew that publications taking a certain editorial line were financed by foreign governments? We cannot refer to foreign media funded by the US government as “independent media.” The US government should never be in the business of funding the media, either at home or abroad. business Honoring Phil Crane November 17, 2004    2004 Ron Paul 78:5 As the number of representatives committed to free-markets and low taxes increased, Phil’s status as a congressional leader and accomplished legislator grew. Thanks in large part to Phil’s leadership; Congress has provided tax relief to American families and businesses during each of the last four years. business Where To From Here? November 20, 2004    2004 Ron Paul 81:16 The immediate market reaction to the reelection of President Bush was interesting. The stock market rose significantly, led by certain segments thought to benefit from a friendly Republican administration such as pharmaceuticals, HMO’s, and the weapons industry. The Wall Street Journal summed up the election with a headline the following day: “Winner is Big Business.” The stock market rally following the election likely will be short-lived, however, as the fundamentals underlying the bear market that started in 2000 are still in place. business Where To From Here? November 20, 2004    2004 Ron Paul 81:24 There will be little resistance to spending and deficits because it will be claimed they are necessary to “fight terrorism.” The irony is that Patriot Act-type regulations were all proposed before 9-11, and are now becoming a costly burden to American businesses. I’m getting more calls every day from constituents who are being harassed by government bureaucrats for “infractions” of all kinds totally unrelated to national security. This immeasurable cost from the stepped-up activity of government bureaucrats will further burden our economy as it slips toward recession — and do little to enhance homeland security. business U.S. Hypocrisy in Ukraine December 7, 2004    2004 Ron Paul 82:3 Let me add that I do not think we should be supporting either of the candidates. While I am certainly no supporter of Viktor Yushchenko, I am not a supporter of his opponent, Viktor Yanukovich, either. Simply, it is none of our business who the Ukrainian people select to be their president. And, if they feel the vote was not fair, it is up to them to work it out. business Introducing The Identity Theft protection Act 4 January 2005    2005 Ron Paul 2:16 Second, the Federal Government has been creating proprietary interests in private information for certain State-favored special interests. Perhaps the most outrageous example of phony privacy protection is the “medical privacy”’ regulation, that allows medical researchers, certain business interests, and law enforcement officials access to health care information, in complete disregard of the Fifth Amendment and the wishes of individual patients! Obviously, “privacy protection” laws have proven greatly inadequate to protect personal information when the government is the one seeking the information. business Government IDs and Identity Theft January 6, 2005    2005 Ron Paul 5:16 Second, the federal government has been creating proprietary interests in private information for certain state-favored special interests. Perhaps the most outrageous example of phony privacy protection is the “medical privacy'” regulation, that allows medical researchers, certain business interests, and law enforcement officials access to health care information, in complete disregard of the Fifth Amendment and the wishes of individual patients! Obviously, “privacy protection” laws have proven greatly inadequate to protect personal information when the government is the one seeking the information. business Family Education Freedom Act 26 January 2005    2005 Ron Paul 9:2 The Family Education Freedom Act returns the fundamental principle of a truly free economy to America’s education system: what the great economist Ludwig von Mises called “consumer sovereignty.” Consumer sovereignty simply means consumers decide who succeeds or fails in the market. Businesses that best satisfy consumer demand will be the most successful. Consumer sovereignty is the means by which the free market maximizes human happiness. business Introduction Of The Liberty Amendment 26 January 2005    2005 Ron Paul 10:5 Income taxes not only diminish liberty, they retard economic growth by discouraging work and production. Our current tax system also forces Americans to waste valuable time and money on compliance with an ever-more complex tax code. The increased interest in flat- tax and national sales tax proposals, as well as the increasing number of small businesses that question the Internal Revenue Service’s (IRS) “withholding” system provides further proof that America is tired of the labyrinthine tax code. Americans are also increasingly fed up with an IRS that continues to ride roughshod over their civil liberties, despite recent “pro-taxpayer” reforms. business Regulating The Airwaves 16 February 2005    2005 Ron Paul 22:11 I am in the free speech business. It’s one thing for a company to determine if they are going to be party to it. It’s another thing for the government to do it. business Introducing Bill To Prohibit Any Remittance Of U.S. Voluntary And Assessed Contributions To The United Nations If The United Nations Imposes Any Tax Or Fee On Any United States Person Or Continues To Develop Or Promote Proposals For Such A Tax Or Fee 1 March 2005    2005 Ron Paul 25:3 A current example of this determination to tax American citizens is the Law of the Sea Treaty. The “International Seabed Authority” created by the Law of the Sea Treaty would have the authority to — for the first time in history — impose taxes on American businesses and citizens. This treaty may be ratified at any time by the U.S. Senate and U.N. taxation of Americans will become a reality. business Introducing The American Sovereignty Restoration Act Of 2005 8 March 2005    2005 Ron Paul 27:3 Indeed, even though the United States pays the lion’s share of the UN budget, UN bureaucrats are still not satisfied. They want direct access to U.S. taxpayer money with out the U.S. government middleman. A current example of this determination to tax American citizens is the Law of the Sea Treaty. The “International Seabed Authority” created by the Law of the Sea Treaty would have the authority to — for the first time in history — impose taxes on American businesses and citizens. This treaty may be ratified at any time by the U.S. Senate and UN taxation of Americans will become a reality. business Consequences Of Foreign Policy — Part 1 16 March 2005    2005 Ron Paul 30:2 I, for one, would admit I personally do not know what is best for the Lebanese and the Syrians, the Iraqis, or anybody else in the region; but I would argue the case that traditionally in this country up until probably the past 100 years, we took a different position on foreign policy. We took a position of nonintervention, one where we strived for neutrality, and we argued the case that we did not have any business in the internal affairs of other nations. No matter how well intended, there always seem to be ramifications. There seem to be unintended consequences. There seems to be a condition called “blow-back,” where it comes back and ends up where we suffer more than anybody else. business Repeal Sarbanes-Oxley! April 14, 2005    2005 Ron Paul 39:1 Mr. Speaker, I rise to introduce the Due Process and Economic Competitiveness Restoration Act, which repeals Section 404 of the Sarbanes-Oxley Act. Sarbanes-Oxley was rushed into law in the hysterical atmosphere surrounding the Enron and WorldCom bankruptcies, by a Congress more concerned with doing something than doing the right thing. Today, American businesses, workers, and investors are suffering because Congress was so eager to appear “tough on corporate crime.” Sarbanes-Oxley imposes costly new regulations on the financial services industry. These regulations are damaging American capital markets by providing an incentive for small US firms and foreign firms to deregister from US stock exchanges. According to a study by the prestigious Wharton Business School, the number of American companies deregistering from public stock exchanges nearly tripled during the year after Sarbanes-Oxley became law, while the New York Stock Exchange had only 10 new foreign listings in all of 2004. business Repeal Sarbanes-Oxley! April 14, 2005    2005 Ron Paul 39:2 The reluctance of small businesses and foreign firms to register on American stock exchanges is easily understood when one considers the costs Sarbanes-Oxley imposes on businesses. According to a survey by Kron/Ferry International, Sarbanes-Oxley cost Fortune 500 companies an average of $5.1 million in compliance expenses in 2004, while a study by the law firm of Foley and Lardner found the Act increased costs associated with being a publicly held company by 130 percent. business Repeal Sarbanes-Oxley! April 14, 2005    2005 Ron Paul 39:4 Journalist Robert Novak, in his column of April 7, said that, “[f]or more than a year, CEOs and CFOs have been telling me that 404 is a costly nightmare” and “ask nearly any business executive to name the biggest menace facing corporate America, and the answer is apt to be number 404…a dagger aimed at the heart of the economy.” business Repeal Sarbanes-Oxley! April 14, 2005    2005 Ron Paul 39:5 Compounding the damage done to the economy is the harm Sarbanes-Oxley does to constitutional liberties and due process. CEOs and CFOs can be held criminally liable, and subjected to 25 years in prison, for inadvertent errors. Laws criminalizing honest mistakes done with no intent to defraud are more typical of police states than free societies. I hope those who consider themselves civil libertarians will recognize the danger of imprisoning citizens for inadvertent mistakes, put aside any prejudice against private businesses, and join my efforts to repeal Section 404. business Repeal Sarbanes-Oxley! April 14, 2005    2005 Ron Paul 39:7 Section 404 of the Sarbanes-Oxley Act has raised the costs of doing business, thus causing foreign companies to withdraw from American markets and retarding economic growth. By criminalizing inadvertent mistakes and exceeding congressional authority, Section 404 also undermines the rule of law and individual liberty. I therefore urge my colleagues to cosponsor the Due Process and Economic Competitiveness Restoration Act. business Republicans Should Not Support a UN Court May 4, 2005    2005 Ron Paul 45:3 As the resolution itself cites, one top UN official, Jaques Klein, has already pronounced Taylor guilty, stating “Charles Taylor is a psychopath and a killer.” But the resolution concludes that “Congress urges the Government of the Federal Republic of Nigeria to expeditiously transfer Charles Ghankay Taylor, former President of the Republic of Liberia, to the jurisdiction of the Special Court for Sierra Leone to undergo a fair and open trial…” So it is probably safe to guess what kind of “trial” this will be - a Soviet-style show trial. The United Nations has no business conducting trials for anyone, regardless of the individual or the crime. It is the business of Liberia and Nigeria to determine the fate of Charles Taylor. business Reject Taxpayer Bank Bailouts May 4, 2005    2005 Ron Paul 46:2 I primarily object to the provisions in H.R. 1185 which may increase the premiums assessed on participating financial institutions. These “premiums,” which are actually taxes, are the primary source of funds for the Deposit Insurance Fund. This fund is used to bail out banks that experience difficulties meeting commitments to their depositors. Thus, the deposit insurance system transfers liability for poor management decisions from those who made the decisions to their competitors. This system punishes those financial institutions that follow sound practices, as they are forced to absorb the losses of their competitors. This also compounds the moral hazard problem created whenever government socializes business losses. business The Hidden Cost of War June 14, 2005    2005 Ron Paul 58:30 Being the issuer of the world’s premier currency allows for a lot more abuse than a country would have otherwise. World businesses, governments, and central banks accept our dollars as if they are as good as gold. This is a remnant of a time when the dollar was as good as gold. That is no longer the case. The trust is still there, but it’s a misplaced trust. Since the dollar is simply a paper currency without real value, someday confidence will be lost and our goose will no longer be able to lay the golden egg. That’s when reality will set in and the real cost of our extravagance, both domestic and foreign, will be felt by all Americans. We will no longer be able to finance our war machine through willing foreigners, who now gladly take our newly printed dollars for their newly produced goods and then loan them back to us at below market interest rates to support our standard of living and our war effort. business The Hidden Cost of War June 14, 2005    2005 Ron Paul 58:51 9. Most wars could be avoided with better diplomacy, a mutual understanding of minding one’s own business, and respect for the right of self-determination. business Introducing The Child Health Care Affordability Act 27 June 2005    2005 Ron Paul 80:3 As an OB–GYN who has had the privilege of delivering more than four thousand babies, I know how important it is that parents have the resources to provide adequate health care for their children. The inability of many working Americans to provide health care for their children is rooted in one of the great inequities of the tax code — Congress’ failure to allow individuals the same ability to deduct health care costs that it grants to businesses. As a direct result of Congress’ refusal to provide individuals with health care related tax credits, parents whose employers do not provide health insurance have to struggle to provide health care for their children. Many of these parents work in low-income jobs; oftentimes, their only recourse for health care is the local emergency room. business The Republican Congress Wastes Billions Overseas July 20, 2005    2005 Ron Paul 86:8 Mr. Speaker, this is a shameful day for the US Congress. We are taking billions out of the pockets of Americans and sending the money overseas in violation of the Constitution. These are billions that will not be available for investment inside the United States: investment in infrastructure, roads, new businesses, education. These are billions that will not be available to American families, to take care of their children or senior relatives, or to give to their churches or favorite charities. We must not continue to spend money like there is no tomorrow. We are going broke, and bills like this are like a lead foot on the accelerator toward bankruptcy. business Introducing The Rice Farmers Fairness Act 6 September 2005    2005 Ron Paul 93:4 My legislation is very simple and direct in dealing with this problem. It says that those who have tenant rice farmers producing rice in Texas must agree to continue to maintain rice in their crop rotation if they wish to receive subsidies. In this way, we can remove the perverse incentive, which the Federal Government has provided to landowners to exit the rice business and thereby put the entire rice infrastructure at risk. business Why We Fight September 8, 2005    2005 Ron Paul 95:50 Congress at any time can prevent or stop all undue foreign entanglements pursued by the executive branch merely by refusing to finance them. The current Iraq war, now going on for 15 years, spans the administration of three presidents and many congresses controlled by both parties. This makes Congress every bit as responsible for the current quagmire as the president. But the real problem is the acceptance by our country as a whole of the principle of meddling in the internal affairs of other nations when unrelated to our national security. Intervention, no matter how well intended, inevitably boomerangs and comes back to haunt us. Minding our own business is not only economical; it’s the only policy that serves our national security interests and the cause of peace. business Why We Fight September 8, 2005    2005 Ron Paul 95:72 This change in policy can come easily once the people of this country decide that there is a better way to conduct ourselves throughout the world. Whenever the people turn against war as a tool to promote certain beliefs, the war ceases. That’s what we need today. Then we can get down to the business of setting an example of how peace and freedom brings prosperity in an atmosphere that allows for excellence and virtue to thrive. business The Coming Category 5 Financial Hurricane September 15, 2005    2005 Ron Paul 98:4 We face a coming financial crisis. Our current account deficit is more than $600 billion annually. Our foreign debt is more than $3 trillion. Foreigners now own over $1.4 trillion of our Treasury and mortgage debt. We must borrow $3 billion from foreigners every business day to maintain our extravagant spending. Our national debt now is increasing $600 billion per year, and guess what, we print over $600 billion per year to keep the charade going. But there is a limit and I’m fearful we’re fast approaching it. business Introduction Of The Affordable Gas Price Act 6 October 2005    2005 Ron Paul 99:5 Federal fuel taxes are a major part of gasoline’s cost. The Affordable Gas Price Act suspends the Federal gasoline tax any time the average gas prices exceeds $3 per gallon. During the suspension, the Federal Government will have a legal responsibility to ensure the Federal highway trust fund remains funded. My bill also raises the amount of mileage reimbursement not subject to taxes, and, during times of high oil prices, provides the same mileage reimbursement benefit to charity and medical organizations as provided to businesses. business Personal Responsibility In Food Consumption Act 19 October 2005    2005 Ron Paul 105:5 Finally, Mr. Chairman, I would remind the food industry that using unconstitutional Federal powers to restrict State lawsuits makes it more likely those same powers will be used to impose additional Federal control over the food industry. Despite these lawsuits, the number one threat to business remains a Federal government freed of its Constitutional restraints. After all, the Federal government imposes numerous taxes and regulations on the food industry, often using the same phony “pro-consumer” justifications used by the trial lawyers. Furthermore, while small business, such as fast-food franchises, can move to another State to escape flawed State tax, regulatory, or legal policies, they cannot as easily escape destructive Federal regulations. Unconstitutional expansions of Federal power, no matter how just the cause may seem, are not in the interests of the food industry or of lovers of liberty. business Introducing The Improve Interoperable Communications For First Responders Act 20 october 2005    2005 Ron Paul 107:3 Rather than simply further burdening taxpayers, or increasing the already skyrocketing national debt, my legislation is financed through cuts in corporate welfare and foreign aid programs, which subsidize large corporations and even American businesses’ overseas competitors such as the Export-Import Bank use of taxpayer money to underwrite trade with countries such as Communist China. It is time for the Federal Government to begin prioritizing spending by cutting unnecessary programs that benefit powerful special interests in order to met our constitutional responsibilities to ensure America’s first responders can effectively respond to terrorists’ attacks. business Government Sponsored Enterprises 26 October 2005    2005 Ron Paul 108:8 Concerns have been raised about the new regulator’s independence from the Treasury Department. This is more than a bureaucratic “turf battle” as there are legitimate worries that isolating the regulator from Treasury oversight may lead to regulatory capture. Regulatory capture occurs when regulators serve the interests of the businesses they are supposed to be regulating instead of the public interest. While H.R. 1461 does have some provisions that claim to minimize the risk of regulatory capture, regulatory capture is always a threat where regulators have significant control over the operations of an industry. After all, the industry obviously has a greater incentive than any other stakeholder to influence the behavior of the regulator. business Congressional Recognition Of Orene Schweinle Jordan 15 November 2005    2005 Ron Paul 119:4 Married to W.G. Jordan for 60 years, Mrs. Orene Jordan was always a working partner. When the family moved from a small town in south Texas, they opened a small grocery store in La Marque, Texas even though they had no real business experience. Mrs. Jordan put her “hard work” philosophy into action by working 12 hours a day, 7 days a week to make her family’s business thrive. In 1956, Mr. and Mrs. Jordan sold their store and started a cattle ranch in Van Vleck, Texas in Matagorda County. business Statement on So-Called "Deficit Reduction Act" November 18, 2005    2005 Ron Paul 123:7 I also question the priorities of singling out programs, such as Medicaid and food stamps, that benefit the neediest Americans, while continuing to increase spending on corporate welfare and foreign aid. Just two weeks ago, Congress passed a bill sending $21 billion overseas. That is $21 billion that will be spent this fiscal year, not spread out over five years. Then, last week, Congress passed, on suspension of the rules, a bill proposing to spend $130 million dollars on water projects--not in Texas, but in foreign nations! Meanwhile, the Financial Services Committee, on which I sit, has begun the process of reauthorizing the Export-Import Bank, which uses taxpayer money to support business projects that cannot attract capital in the market. Mr. Speaker, the Export-Import Bank’s biggest beneficiaries are Boeing and communist China. I find it hard to believe that federal funding for Fortune 500 companies and China is a higher priority for most Americans than Medicaid and food stamps. business The Blame Game December 7, 2005    2005 Ron Paul 124:9 Polls indicate ordinary Americans are becoming uneasy with our prolonged war in Iraq, which has no end in sight. The fact that no one can define victory precisely, and most American see us staying in Iraq for years to come, contribute to the erosion of support for this war. Currently 63% of Americans disapprove of the handling of the war, and 52% say it’s time to come home. 42% say we need a foreign policy of minding our own business. This is very encouraging. business Terrorism Insurance Program 7 December 2005    2005 Ron Paul 125:10 While no one can plan for terrorist attacks, individuals and businesses can take steps to enhance security. For example, I think we would all agree that industrial plants in the United States enjoy reasonably good security. They are protected not by the local police, but by owners putting up barbed wire fences, hiring guards with guns, and requiring identification cards to enter. One reason private firms put these security measures in place is because insurance companies provide them with incentives, in the form of lower premiums, to adopt security measures. H.R. 3210 contains no incentives for this private activity. The bill does not even recognize the important role insurance plays in providing incentives to minimize risks. By removing an incentive for private parties to avoid or at least mitigate the damage from a future terrorist attack, the government inadvertently increases the damage that will be inflicted by future attacks. business Foreign Policy 17 December 2005    2005 Ron Paul 128:9 Polls indicate ordinary Americans are becoming uneasy with our prolonged war in Iraq which has no end in sight. The fact that no one can define victory precisely, and most Americans see us staying in Iraq for years to come, contributes to the erosion of support for this war. Currently, 63 percent of Americans disapprove of the handling of the war, and 52 percent say it is time to come home. Forty-two percent say we need a foreign policy of minding our own business. This is very encouraging. The percentages are even higher for the Iraqis. Eighty-two percent want us to leave, and 67 percent claim they are less secure with our troops there. business Return To Constitutional Government 1 February 2006    2006 Ron Paul 1:1 Mr. PAUL. Mr. Speaker, anyone who doubts that symbols often take priority over substance in Washington only needs to consider that among our first items of business the House of Representatives is considering this year is a measure banning from the House gym former members of Congress who are now lobbyists. This bill is being rushed to the floor in order to assure the American people that Congress is “cracking down” on lobbying practices in response to recent scandals. business The End Of Dollar Hegemony 15 February 2006    2006 Ron Paul 3:66 It has prompted urgent proposals of suggested reforms to deal with the mess. If only we had more rules and regulations, more reporting requirements and stricter enforcement of laws, the American people will be assured we mean business. Ethics and character will return to the Halls of Congress. It is argued that new champions of reform should be elected to leadership positions to show how serious we are about dealing with the crisis of confidence generated by the Abramoff affair. Then all will be well. business The End Of Dollar Hegemony 15 February 2006    2006 Ron Paul 3:108 Today, most business interests and the poor are dependent on government handouts. Education and medical care is almost completely controlled and regulated by an overpowering central government. We have come to accept our role as world policeman and nation builder with little question despite the bad results and inability to pay the bills. business Introduction Of The Sunshine In Monetary Policy Act 7 March 2006    2006 Ron Paul 10:2 The Federal Reserve Board has recently announced it will stop reporting M3, thus depriving Congress and the American people of the most comprehensive measure of the money supply. The cessation of Federal Reserve’s weekly M3 report will make it more difficult for policymakers, economists, investors, and the general public to learn the true rate of inflation. As Nobel laureate Milton Friedman famously said, “inflation is always and everywhere a monetary phenomenon.” Therefore, having access to a comprehensive measure of the money supply like M3 is a vital tool for those seeking to track inflation. Thorsten Polleit, honorary professor at HfB-Business School of Finance and Management, in his article “Why Money Supply Matters” posted on the Ludwig von Mises Institute’s website mises.org, examined the relationship between changes in the money supply and inflation and concluded that “money supply signals might actually be far more important for inflation — even in the short-term — than current central bank practice suggests,” thus demonstrating the importance of the M3 aggregate. business Amendment No. 9 Offered By Mr. Paul — Part 2 16 March 2006    2006 Ron Paul 18:6 So to me, this is an approach to emphasize the importance of foreign policy, that this notion that we are in the business of nation-building, and that we are the policemen of the world, and that we should reconsider that and save money. At the same time, we could reduce our deficit while actually increasing funding for some of the serious problems that we have in this country. So to me, it sounds rather logical to do this. To cut things from, say, building roads in Liberia. Yes, Liberia needs money, but what about the people that have been hit by the hurricanes? They need some money, too. And the way we do it always involves deficit financing. business Iran, The Next Neocon Target 5 April 2006    2006 Ron Paul 21:66 The conclusion we should derive from this is simple. It is in our best interest to pursue a foreign policy of nonintervention. A strict interpretation of the Constitution mandates it. The moral imperative of not imposing our will on others, no matter how well intentioned, is a powerful argument for minding our own business. The principle of self-determination should be respected. Strict nonintervention removes the incentives for foreign powers and corporate interests to influence and control our policies overseas. We can’t afford the cost that intervention requires, whether through higher taxes or inflation. If the moral arguments against intervention don’t suffice for some, the practical arguments should. business Gold And The U.S. Dollar 25 April 2006    2006 Ron Paul 23:59 Small businesses and individual enterprises suffer more than the financial elite, who borrow large sums before the money loses value. Those who are on the receiving end of government contracts, especially in the military industrial complex during wartime, receive undeserved benefits. business Gold And The U.S. Dollar 25 April 2006    2006 Ron Paul 23:63 When problems arise under conditions that exist today, it is a serious error to blame the little bit of the free market that still functions. Last summer, the market worked efficiently after Katrina. Gasoline hit $3 a gallon, but soon supplies increased, usage went down, and the price returned to $2. In the 1980s, market forces took oil from $40 a barrel down to $10 a barrel, and no one cried for the oil companies that went bankrupt. Today’s increases are for the reasons mentioned above. It is natural for labor to seek its highest wage and businesses to strive for the greatest profits. That is the way the market works. When the free market is allowed to work, it is the consumer who ultimately determines price and quality, with labor and businesses accommodating consumer choices. Once this process is distorted by government, prices rise excessively, labor costs and profits are negatively affected, and problems emerge. business Gold And The U.S. Dollar 25 April 2006    2006 Ron Paul 23:65 Since keeping interest rates below market levels is synonymous with new money creation by the Fed, the resulting business cycle, higher cost of living and job losses all can be laid at the doorstep of the Fed. This burden hits the poor the most, making Fed taxation by inflation the worst of all regressive taxes. Statistics about revenues generated by the income tax are grossly misleading. In reality, much harm is done by our welfare-warfare system supposedly designed to help the poor and tax the rich. Only sound money can rectify the blatant injustice of this destructive system. business Gold And The U.S. Dollar 25 April 2006    2006 Ron Paul 23:72 The harmful effects of the business cycle are virtually eliminated with an honest gold standard. business Bill Would Authorize Force 26 April 2006    2006 Ron Paul 31:9 Both parties are involved in this. It is not just this administration that has promoted this type of foreign policy, which, quite frankly, I see is not in the best interest of our country. This is why I am a strong advocate of minding our own business. Don’t get involved in nation building. Don’t police the world. Don’t get involved in the internal affairs of the other nations. Otherwise, we have a big job ahead of us. business Jack Abramoff Scandal 3 May 2006    2006 Ron Paul 33:1 Mr. PAUL. Mr. Chairman, the public outrage over the Jack Abramoff scandal presented Congress with an opportunity to support real reform by addressing the root cause of the corruption: the amount of money and power located in Washington, D.C. A true reform agenda would focus on ending federal funding for unconstitutional programs, beginning with those programs that benefit wealthy corporations and powerful special interests. Congress should also change the way we do business in the House by passing the Sunlight Rule (H. Res. 709). The Sunlight Rule ensures that members of the House of Representatives and the American public have adequate time to read and study legislation before it is voted upon. Ending the practice of rushing major legislation to the House floor before members have had a chance to find out the details of bills will do more to improve the legislative process and restore public confidence in this institution than will imposing new registration requirements on lobbyists or making staffers waste their time at an “ethics class.” business Tribute To Bruce Farmer 12 July 2006    2006 Ron Paul 54:2 Mr. Farmer, a resident of Galveston, Texas, was a husband, father of four sons, entrepreneur, and community leader. Mr. Farmer’s career exemplifies the best features of American capitalism. Mr. Farmer was CEO of Farmer’s Copper Ltd., which he founded in 1978 as Farmer’s Copper and Industrial Supply. Under his leadership, Farmer’s Copper Ltd. grew into one of the nation’s largest privately owned copper and brass distributors, employing approximately 185 people in Galveston. Mr. Farmer began working in the metal fabrication business at the age of 14, when he went to work for Farmer’s Marine Copper Works, an engineering and fabrication firm founded by his father and uncle. Mr. Farmer was also CEO of the Four Winds Investments and a director of Moody National Bank business Tribute To Bruce Farmer 12 July 2006    2006 Ron Paul 54:3 Mr. Farmer first demonstrated his commitment to serving his community and country at the age of 16 when he enlisted in the U.S. Merchant Marines in order to serve his country at the height of World War II. Throughout his life, Mr. Farmer did not allow the demands of growing his business to distract him from becoming involved in various local and national organizations. For example, he served on the Methodist Foundation Board and on other boards of the Methodist Church. An avid outdoorsman who loved fishing, hunting, golfing, and skiing, Mr. Farmer also served as past President of the Galveston Propeller Club and received the Maritime Man of the Year award. business Tribute To Bruce Farmer 12 July 2006    2006 Ron Paul 54:8 Every morning he would make his rounds through the offices ostensibly to check on the staff and see how business was doing. The real reason was that he wanted to mooch hugs from all of the ladies. business Noninterventionist Policy — Part 1 19 July 2006    2006 Ron Paul 61:13 And we now are in the business of maintaining an empire. A noninterventionist foreign policy concedes up front that is not our goal. We are not supposed to be going overseas and building permanent bases and staying there endlessly. Even the election campaign of 2000 was won partially on the foreign policy issue that, you know, it was said that we shouldn’t be the policemen of the world and we shouldn’t be in nation building. business H.R. 5068, the Export-Import Reauthorization Act 25 July 2006    2006 Ron Paul 69:4 In fact, according to journalist Robert Novak, Enron itself received over $640 million in taxpayer-funded assistance from Ex-Im. The taxpayer-provided largess no doubt helped postpone Enron’s inevitable day of reckoning. It is not only bad economics to force working American small businesses and entrepreneurs to subsidize the exports of large corporations; it is also immoral. business H.R. 5068, the Export-Import Reauthorization Act 25 July 2006    2006 Ron Paul 69:12 However, this claim rests on a version of what the great economist Henry Hazlitt called the “broken window” fallacy. When a hoodlum throws a rock through a store window, it can be said he has contributed to the economy, as the storeowner will have to spend money having the window fixed. The benefits to those who repaired the window are visible for all to see, therefore it is easy to see the broken window as economically beneficial. However, the “benefits” of the broken window are revealed as an illusion when one takes into account what is not seen: the businesses and workers who would have benefited had the store owner not spent money repairing a window, but rather had been free to spend his money as he chose. business H.R. 5068, the Export-Import Reauthorization Act 25 July 2006    2006 Ron Paul 69:13 Similarly, the beneficiaries of Eximbank are visible to all. What is not seen is the products that would have been built, the businesses that would have been started, and the jobs that would have been created had the funds used for the Eximbank been left in the hands of consumers. Leaving the resources in the private sector ensures the resources will be put to the use most highly valued by individual consumers. In contrast, when the government diverts resources into the public sector via programs such as the Eximbank, their use is determined by bureaucrats and politically powerful special interests, resulting in a distorted market and a misallocation of resources. By distorting the market and preventing resources from achieving their highest valued use, Eximbank actually costs Americans jobs and reduces America’s standard of living! business Raising The Minimum Wage 28 July 2006    2006 Ron Paul 73:7 Mr. Speaker, I do not wish my opposition to this bill to be misconstrued as counseling inaction. Quite the contrary, Congress must enact ambitious program of tax cuts and regulatory reform to remove government-created obstacles to job growth. However, Mr. Speaker, Congress should not fool itself into believing that the package of tax cuts included in this bill will compensate for the damage inflicted on small businesses and their employees by the minimum wage increase. This assumes that Congress is omnipotent and thus can strike a perfect balance between tax cuts and regulations so that no firm, or worker, in the country is adversely affected by Federal policies. If the 20th Century taught us anything it was that any and all attempts to centrally plan an economy, especially one as large and diverse as America’s, are doomed to fail. business Big-Government Solutions Don’t Work 7 september 2006    2006 Ron Paul 74:25 In the 1920s and the 1930s, Europe’s financial system collapsed and inflation raged. It was commonplace to blame the Jews. Today, in America the blame is spread out: illegal immigrants, Muslims, big business, whether they got special deals from the government or not, price gouging oil companies, regardless of the circumstances, and labor unions. Ignorance of economics and denial of the political power system that prevails in the District of Columbia makes it possible for Congress to shift the blame. business Identity Theft Protection Act 5 January 2007    2007 Ron Paul 8:17 Second, the Federal Government has been creating proprietary interests in private information for certain State-favored special interests. Perhaps the most outrageous example of phony privacy protection is the “medical privacy’ ” regulation, that allows medical researchers, certain business interests, and law enforcement officials access to health care information, in complete disregard of the Fifth Amendment and the wishes of individual patients! Obviously, “privacy protection” laws have proven greatly inadequate to protect personal information when the government is the one seeking the information. business Against Raising The Minimum Wage 10 January 2007    2007 Ron Paul 10:5 Mr. Speaker, I do not wish my opposition to this bill to be misconstrued as counseling inaction. Quite the contrary, Congress must enact an ambitious program of tax cuts and regulatory reform to remove government-created obstacles to job growth. However, Mr. Speaker, opponents of H.R. 2 should not fool themselves into believing that adding a package of tax cuts to the bill will compensate for the damage inflicted on small businesses and their employees by the minimum wage increase. Saying that an increase in the minimum wage is acceptable if combined with tax cuts assumes that Congress is omnipotent and thus can strike a perfect balance between tax cuts and regulations so that no firm, or worker, in the country is adversely affected by Federal policies. If the 20th Century taught us anything it was that any and all attempts to centrally plan an economy, especially one as large and diverse as America’s, are doomed to fail. business College Student Relief Act Of 2007 17 January 2007    2007 Ron Paul 19:2 All-too-often, government programs, which the taxpaying public believes help lower-income Americans, actually provide government subsidies for politically powerful business interests. For example, in the student loan program under discussion today, taxpayer dollars are provided to financial institutions in return for those institutions agreeing to provide student loans under terms set by the government. By reducing subsidies for financial institutions in order to benefit recent graduates, H.R. 5 takes a step toward ensuring the student loan program actually focuses on helping students and recent graduates, instead of using taxpayer dollars for a disguised form of corporate welfare. business Introduction Of The Liberty Amendment 7 February 2007    2007 Ron Paul 24:5 Income taxes not only diminish liberty, they retard economic growth by discouraging work and production. Our current tax system also forces Americans to waste valuable time and money on complacence with an ever-more complex tax code. The increased interest in flat-tax and national sales tax proposals, as well as the increasing number of small businesses that questioning the Internal Revenue Service’s (IRS) “withholding” system provides further proof that America is tired of the labyrinthine tax code. Americans are also increasingly fed up with an IRS that continues to ride roughshod over their civil liberties, despite recent “pro-taxpayer” reforms. business Introduction Of The Family Education Freedom Act 14 february 2007    2007 Ron Paul 29:2 The Family Education Freedom Act returns the fundamental principal of a truly free economy to America’s education system: what the great economist Ludwig von Mises called “consumer sovereignty”. Consumer sovereignty simply means consumers decide who succeeds or fails in the market. Businesses that best satisfy consumer demand will be the most successful. Consumer sovereignty is the means by which the free market maximizes human happiness. business The Port Of Galveston: A Source Of Economic Growth For Texas And The Nation 1 March 2007    2007 Ron Paul 33:3 The cruise industry is the largest source of port-related economic growth for both the city of Galveston and the State of Texas. In 2006, the Galveston-based cruise business helped support 13,272 cruise industry jobs in Texas that paid more than $599 million in wages. Approximately 46 percent of the industry’s direct expenditures were based in tourism-related businesses like travel agencies, airlines, hotels, restaurants, and ground transportation providers. Other Texas industries that benefit from the cruise business’s expansion are petroleum refining, communications and navigation equipment, and engines and power transmission equipment manufacturing. business The Port Of Galveston: A Source Of Economic Growth For Texas And The Nation 1 March 2007    2007 Ron Paul 33:4 The increase in cruise-related income has presented the Port of Galveston with the challenge of ensuring the port is capable of continuing to meet the needs of the cruise business. The Port of Galveston’s management is committed to ensuring the port continues to grow and change to meet the demands of the port’s expanding cruise and other businesses. Since 2000, approximately $45 million has been invested in the port’s cruise facilities. It is expected that revenues from cruise operations will give the port an opportunity to move forward and leverage earlier financing to provide for additional maintenance, repair, and capital construction in the port. business The Port Of Galveston: A Source Of Economic Growth For Texas And The Nation 1 March 2007    2007 Ron Paul 33:5 Madam Speaker, the Port of Galveston’s contribution to the Texas and United States economies is by no means limited to the cruise business. The port also plays a vital role in the global economy by facilitating trade with Mexico, Guatemala, Panama, Germany, China, Israel, Italy, and other countries. business The Scandal At Walter Reed 7 March 2007    2007 Ron Paul 34:12 Clean it up. Paint the walls. Make Walter Reed look neat and tidy. But this won’t solve our problems. We must someday look critically at the shortcomings of our foreign policy, a policy that needlessly and foolishly intervenes in places where we have no business being. business Introducing The Child Health Care Affordability Act 17 April 2007    2007 Ron Paul 42:3 As an OB–GYN who has had the privilege of delivering more than four thousand babies, I know how important it is that parents have the resources to provide adequate health care for their children. The inability of many working Americans to provide health care for their children is rooted in one of the great inequities of the tax code — Congress’ failure to allow individuals the same ability to deduct health care costs that it grants to businesses. As a direct result of Congress’ refusal to provide individuals with health care related tax credits, parents whose employers do not provide health insurance have to struggle to provide health care for their children. Many of these parents work in low-income jobs; oftentimes, their only recourse for health care is the local emergency room. business Genetic Information Non-discrimination Act 25 April 2007    2007 Ron Paul 44:2 Because of the Federal Government’s poor record in protecting privacy, I do not believe the best way to address concerns about the misuse of genetic information is through intrusive Federal legislation. Uniform Federal mandates are a clumsy and ineffective way to deal with problems such as employers making hiring decisions on the basis of a potential employee’s genetic profile. Imposing Federal mandates on private businesses merely raises the costs of doing business and thus reduces the employment opportunities for all citizens. A much better way to eliminate irrational discrimination is to rely on state and local regulation. Unlike the Federal Government, states and localities are able to tailor their regulations to fit the needs of their particular populaces. I would remind my colleagues that 34 states currently ban genetic discrimination in employment, while 46 states forbid health insurers from engaging in genetic discrimination. Clearly, the states are capable of addressing this issue without interference from Washington. My colleagues should also remember that Congress has no constitutional authority to forbid private sector employers from making hiring or other employment decisions on the basis of genetic information. business Tribute To Valerian Huvar 25 April 2007    2007 Ron Paul 45:3 After his discharge from active duty, Mr. Huvar returned to the local Goodyear Tire Store, this time as the store’s manager. Soon thereafter he went to work at the local Montgomery Ward where he set up their business office. In 1950, he went to work as a teller in the First Victoria National Bank. business Federal Housing Finance Reform Act Of 2007 17 May 2007    2007 Ron Paul 52:8 Concerns have been raised about the new regulator’s independence from the Treasury Department. This is more than a bureaucratic “turf battle” as there are legitimate worries that isolating the regulator from Treasury oversight may lead to regulatory capture. Regulatory capture occurs when regulators serve the interests of the businesses they are supposed to be regulating instead of the public interest. While H.R. 1427 does have some provisions that claim to minimize the risk of regulatory capture, regulatory capture is always a threat where regulators have significant control over the operations of an industry. After all, the industry obviously has a greater incentive than any other stakeholder to influence the behavior of the regulator. business The Affordable Gas Price Act 21 May 2007    2007 Ron Paul 54:5 Federal fuel taxes are a major part of gasoline’s cost. The Affordable Gas Price Act suspends the federal gasoline tax any time the average gas prices exceeds $3.00 per gallon. During the suspension, the federal government will have a legal responsibility to ensure the federal highway trust fund remains funded. My bill also raises the amount of mileage reimbursement not subject to taxes, and, during times of high oil prices, provides the same mileage reimbursement benefit to charity and medical organizations as provided to businesses. business Introduction Of The Sunshine In Monetary Policy Act 15 June 2007    2007 Ron Paul 66:2 The Federal Reserve Board ceased reporting M3 on March 22, 2006, thus depriving Congress and the American people of the most comprehensive measure of the money supply. The cessation of the Federal Reserve’s weekly M3 report will make it more difficult for policymakers, economists, investors, and the general public to learn the true rate of inflation. As Nobel laureate Milton Friedman famously said, “inflation is always and everywhere a monetary phenomenon.” Therefore, having access to a comprehensive measure of the money supply like M3 is a vital tool for those seeking to track inflation. Thorsten Polleit, honorary professor at HfB-Business School of Finance and Management, in his article “Why Money Supply Matters” posted on the Ludwig von Mises Institute’s Web site mises.org, examined the relationship between changes in the money supply and inflation and concluded that “money supply signals might actually be far more important for inflation — even in the short-term — than current central bank practice suggests,” thus demonstrating the importance of the M3 aggregate. business Opening Statement – Committee on Financial Services – Subcommittee: Domestic and International Monetary Policy, Trade and Technology – Remittance Hearing 17 June 2007    2007 Ron Paul 68:2 Some legislative proposals would require wire transfer services and other money services businesses to comply with elements of the REAL ID Act. While often well-intentioned, such measures, aside from infringing constitutional liberties, would have the effect of creating a thriving black market financial system which would make it even more difficult for law enforcement to track truly criminal financial transfers. business Opening Statement – Committee on Financial Services – Subcommittee: Domestic and International Monetary Policy, Trade and Technology – Remittance Hearing 17 June 2007    2007 Ron Paul 68:3 Heavy-handed government intrusion into the operation and regulation of money services businesses would also have the effect of raising the costs of doing business. Money service businesses have done a good job of identifying and serving their customers' needs. Healthy competition has led to a reduction in fees over the years so that money services businesses are accessible to more and more consumers. As some of our witnesses will attest, even the threat of regulation can have a chilling effect on the operation of money services businesses. The money services market has done an admirable job of self-regulation so far. The worst thing Congress could do is intervene in an overly forceful manner and undo all the good things that have been done so far. business Saluting Fred Raschke: Galveston Chamber Of Commerce’s Business Leader Of The Year    2007 Ron Paul 73:1 Mr. PAUL. Madam Speaker, the Galveston Chamber of Commerce has chosen Mr. Fred Raschke as its Business Leader of the Year because, as Galveston Chamber of Commerce President Gina Spagnola said, “Fred is an extraordinary man who is committed to his family, his faith, his friends as well as service to our community.” business University And College Union Of The United Kingdom Boycott Against Israeli Academia 11 July 2007    2007 Ron Paul 74:2 My concerns are about this particular piece of legislation, however. I simply do not understand why it is the business of the United States Congress — particularly considering the many problems we have at home and with U.S. policy abroad — to bring the weight of the U.S. government down on an academic disagreement half a world away. Do we really believe that the U.S. Government should be sticking its nose into a dispute between British and Israeli academics? Is there no dispute in no remote corner of the globe in which we don’t feel the need to become involved? business Darfur Accountability and Divestment Act 30 July 2007    2007 Ron Paul 77:2 No one denies that the humanitarian situation in Darfur is dire, but the United States Government has no business entangling itself in this situation, nor in forcing divestment on unwilling parties. Any further divestment action should be undertaken through voluntary means and not by government fiat. business Darfur Accountability and Divestment Act 30 July 2007    2007 Ron Paul 77:3 H.R. 180 is an interventionist piece of legislation which will extend the power of the Federal Government over American businesses, force this country into yet another foreign policy debacle, and do nothing to alleviate the suffering of the residents of Darfur. By allowing State and local governments to label pension and retirement funds as State assets, the Federal Government is giving the go-ahead for State and local governments to play politics with the savings upon which millions of Americans depend for security in their old age. The safe harbor provision opens another dangerous loophole, allowing fund managers to escape responsibility for any potential financial mismanagement, and it sets a dangerous precedent. Would the Congress offer the same safe harbor provision to fund managers who wish to divest from firms offering fatty foods, growing tobacco, or doing business in Europe? business Introduction Of The Congressional Responsibility And Accountability Act    2007 Ron Paul 82:1 Mr. PAUL. Madam Speaker, I rise to introduce the Congressional Responsibility and Accountability Act. This bill requires Congress to specifically authorize via legislation any proposed federal regulation that will impose costs on any individual of at least $5,000, impose costs on a business or other private organization of at least $25,000, or impose aggregate costs on the American people of at least $250,000, or cause any American to lose his or her job. business Statement in Opposition to H.Res 552 4 September 2007    2007 Ron Paul 88:1 Mr. PAUL. Mr. Speaker, I rise in opposition to H. Res. 552, “Calling on the Government of the People’s Republic of China to remove barriers to United States financial services firms doing business in China.” business Terrorism Insurance 19 september 2007    2007 Ron Paul 89:10 While no one can plan for terrorist attacks, individuals and businesses can take steps to enhance security. For example, I think we would all agree that industrial plants in the United States enjoy reasonably good security. They are protected not by the local police, but by owners putting up barbed wire fences, hiring guards with guns, and requiring identification cards to enter. One reason private firms put these security measures in place is because insurance companies provide them with incentives, in the form of lower premiums, to adopt security measures. H.R. 3210 contains no incentives for this private activity. The bill does not even recognize the important role insurance plays in providing incentives to minimize risks. By removing an incentive for private parties to avoid or at least mitigate the damage from a future terrorist attack, the government inadvertently increases the damage that will be inflicted by future attacks! business Introducing The Television Consumer Freedom Act 19 September 2007    2007 Ron Paul 91:6 The Television Consumer Freedom Act also repeals Federal regulations that mandate that all TVs sold in the United States contain “digital technology.” In complete disregard of all free market and constitutional principles, the FCC actually plans to forbid consumers from buying TVs, after 2006, that are not equipped to carry digital broadcasts. According to economist Stephen Moore, this could raise the price of a TV by as much as $250 dollars. While some television manufacturers and broadcasters may believe they will benefit from this government-imposed price increase, they will actually lose business as consumers refrain from purchasing new TVs because of the government-mandated price increase. business Statement On Introduction Of The Cost Of Government Awareness Act 19 September 2007    2007 Ron Paul 92:2 Collecting taxes via withholding damages the economy because it forces every business in America to waste valuable resources complying with the withholding tax requirements. The Internal Revenue Service is so fanatical about forcing employers to act as de facto federal agents that it once confiscated the assets of a church because the church refused to violate the church’s religious beliefs by acting as a tax collector. The IRS sent armed federal agents in this house of worship, even though the church’s employees regularly paid taxes. business Opposing Legislation To Provoke Iran 25 September 2007    2007 Ron Paul 94:3 In expanding sanctions against Iran and against foreign businesses and countries that do business with Iran, we are hurting the American economy and moving the country closer to war. After all, sanctions are a form of warfare against a nation; and, if anyone has forgotten Cuba, sanctions never achieve the stated goals. business Tax Free Tips Act 25 September 2007    2007 Ron Paul 95:2 Many service-sector employers are young people trying to make money to pay for their education, or single parents struggling to provide for their children. Oftentimes, these workers work two jobs in hopes of making a better life for themselves and their families. The Tax Free Tips Act gives these hard-working Americans an immediate pay raise. People may use this pay raise to devote more resources to their children’s, or their own, education, or to save for a home, retirement, or to start their own businesses. business Statement Before the Joint Economic Committee 8 November 2007    2007 Ron Paul 103:8 It is time that the federal government get out of the housing business. Through our interventionist legislation we have caused the boom and bust, and any attempts at reform that fail to address the causes of our current problem will only sow the seeds for the next b business Statement of Ron Paul on H.R. 5140 29 January 2008    2008 Ron Paul 2:4 In addition, I am concerned that the 50% bonus depreciation and the increase in the amount of qualifying purchases that small businesses can expense in the year they bought their equipment will be of limited effectiveness because they are limited to one year. A more effective way to stimulate the economy would be to make the 2001 and 2003 tax cuts permanent. I also hope Congress considers the long-term tax cuts contained in HR 5109, the Economic Growth Act. business Statement of Ron Paul on H.R. 5140 29 January 2008    2008 Ron Paul 2:5 Congress should also pass my Tax Free Tips Act (HR 3664), which makes tips exempt from federal income and payroll taxes. Making tips tax-free will strengthen American families and the American economy by allowing millions of hard-working Americans to devote more resources to their children’s, or their own, education, or to save for a home, retirement, or to start their own businesses. business Statement of Ron Paul on H.R. 5140 29 January 2008    2008 Ron Paul 2:8 One of the best things Congress could do for the American economy is to repeal, or at least reform, the misguided Sarbanes-Oxley law, particularly Section 404. Rushed through Congress in the wake of the Enron and WorldCom scandals in order to show that Congress was “getting tough” on corporate crime, Sarbanes-Oxley imposes unreasonable costs on small businesses and entrepreneurs. business Statement of Ron Paul on H.R. 5140 29 January 2008    2008 Ron Paul 2:9 A survey by Financial Executives International, an organization of chief financial officers, put the average cost of compliance with Sarbanes-Oxley at $4.4 million, while the American Economics Association estimates Sarbanes-Oxley could cost American companies as much as $35 billion. Because of these costs, many small businesses are delisting from United States stock exchanges. According to a study by the prestigious Wharton Business School, the number of American companies delisting from public stock exchanges nearly tripled the year after Sarbanes-Oxley became law, thus these companies are finding it more costly to attract the necessary capital to grow their business and create jobs. business TRIBUTE TO GULF COPPER & MANUFACTURING 14 February 2008    2008 Ron Paul 5:1 Mr. PAUL. Madam Speaker, on February 27, the Galveston Chamber of Commerce will present its business of the year award to Gulf Copper & Manufacturing Corporation, Gulf Copper, in recognition of the many contributions that it has made to the Galveston community. I am pleased to join my friends from the Galveston Chamber of Commerce in paying tribute to Gulf Copper. business “Monetary Policy and the State of the Economy” February 26, 2008    2008 Ron Paul 8:5 The setting of the interest rate strikes me as quite similar to the way FDR used to set gold prices in the 1930’s, at his whim, resulting in economic havoc and uncertainty. When market actors have to devote much of their time to discerning the mindset of government price-setters, to parsing FOMC statements and minutes, they are necessarily diverted from productive economic activity. They cease to become purely economic actors and are forced to become political forecasters. This is not a problem isolated to this particular case, as businesses are forced to reckon with tax increases, expiring tax credits, import tariffs, subsidies to competitors, etc. However, because the interest rate determines the cost of borrowing and therefore determines whether or not marginal long-term business investments are undertaken, this politicized interest rate manipulation has far more impact than other government policies. business “Monetary Policy and the State of the Economy” February 26, 2008    2008 Ron Paul 8:6 This setting of the interest rate introduces the business cycle into the economy. Until we understand the results these Federal Reserve actions have, we will be doomed to repeat these periods of boom and bust. I urge my colleagues to study this matter, and to resist the urge for greater Federal Reserve intervention in the market. business “Monetary Policy and the State of the Economy” February 27, 2008    2008 Ron Paul 9:2 A topic that is on the lips of many people during the past few months, and one with which I have greatly concerned myself, is that of moral hazard. We hear cries from all corners, from politicians, journalists, economists, businessmen, and citizens, clamoring for the federal government to intervene in the economy in order to forestall a calamitous recession. During the boom, many of these same individuals called for no end to the Fed’s easy credit. Now that the consequences of that easy money policy are coming home to roost, no one wants to face those ill effects. business “Monetary Policy and the State of the Economy” February 27, 2008    2008 Ron Paul 9:5 What all of these proposed bailouts fail to mention is the moral hazard to which bailouts lead. If the federal government bails out banks, investors, or homeowners, the lessons of sound investment and fiscal discipline will not take hold. We can see this in the financial markets in the boom and bust of the business cycle. The Fed’s manipulation of interest rates results in malinvestment which, when it is discovered, leads to economic contraction and liquidation of malinvested resources. But the Fed never allows a complete shakeout, so that before a return to a sound market can occur, the Fed has already bailed out numerous market participants by undertaking another bout of loose money before the effects of the last business cycle have worked their way through the economy. business The Intelligence Authorization Act of 2008 11 March 2008    2008 Ron Paul 13:3 My vote to override the President’s veto is a vote to send a clear message that I do not think the United States should be in the business of torture. It is anti-American, immoral and counterproductive. business Expressing concern over Russian involvement in Alexander Litvinenko’s murder 1 April 2008    2008 Ron Paul 17:1 Mr. Speaker: I rise in strong opposition to this ill-conceived resolution. The US House of Representatives has no business speculating on guilt or innocence in a crime that may have been committed thousands of miles outside US territory. It is arrogant, to say the least, that we presume to pass judgment on crimes committed overseas about which we have seen no evidence. business Expressing concern over Russian involvement in Alexander Litvinenko’s murder 1 April 2008    2008 Ron Paul 17:2 The resolution purports to express concern over the apparent murder in London of a shadowy former Russian intelligence agent, Alexander Litvinenko, but let us not kid ourselves. The real purpose is to attack the Russian government by suggesting that Russia is involved in the murder. There is little evidence of this beyond the feverish accusations of interested parties. In fact, we may ultimately discover that Litvinenko’s death by radiation poisoning was the result of his involvement in an international nuclear smuggling operation, as some investigative reporters have claimed. The point is that we do not know. The House of Representatives has no business inserting itself in disputes about which we lack information and jurisdiction. business Hearing on “The Economic Outlook” April 2, 2008    2008 Ron Paul 18:7 The business cycle, contrary to what Secretary Paulson and others seem to believe, is not endemic to the free market. It is always and everywhere the result of monetary inflation and subsequent malinvestment, which when it is discovered must of necessity be liquidated in order for a true recovery to occur. Delaying the liquidation will only prolong the crisis and ensure that the next crisis will be more severe. business Statement Before the Financial Services Committee, On UIGEA April 2, 2008    2008 Ron Paul 19:5 The regulations and underlying bill also force financial institutions to act as law enforcement officers. This is another pernicious trend that has accelerated in the aftermath of the Patriot Act, the deputization of private businesses to perform intrusive enforcement and surveillance functions that the federal government is unwilling to perform on its own. business Tribute to Bernie Baltic April 15th 2008    2008 Ron Paul 24:3 Perhaps Mr. Baltic’s most lasting contribution to the freedom movement came when then-President of the Advocates for Self Government Marshall Fritz showed Mr. Baltic a computer game Mr. Fritz developed that identified an individual’s political philosophy based on responses to ten questions on economic issues and ten questions on civil liberties. Mr. Baltic, who was quite impressed with the chart, suggested that the Advocates produce business-card sized versions of the graph and quiz. The result was the “World’s Smallest Political Quiz,” one of the freedom movement’s most recognized and effective outreach tools. business INTRODUCTION OF THE TAX RELIEF FOR TRANSPORTATION WORKERS ACT 7 May 2008    2008 Ron Paul 27:1 Mr. PAUL. Madam Speaker, I rise to introduce the Tax Relief for Transportation Workers Act. This legislation helps those who work in the port industry cope with the costs of complying with Congress’s mandate that all those working on a port obtain a Transportation Worker Identity Card (TWIC). The Tax Relief for Transportation Workers Act provides a tax credit to workers who pay the costs of obtaining TWICs. The credit is refundable against both income and payroll tax liabilities. This legislation also provides a tax deduction for businesses that pay for their employees to obtain a TWIC. business INTRODUCTION OF THE TAX RELIEF FOR TRANSPORTATION WORKERS ACT 7 May 2008    2008 Ron Paul 27:4 Unless Congress acts to relieve some of the economic burden the TWIC requirement places on those who work in the port industry, the damage done could reach beyond the port employers and employees to harm businesses that depend on a strong American port industry. This could be very harmful to both interstate and international trade. business CONGRESS MUST ACT TO HELP SHRIMPERS 19 June 2008    2008 Ron Paul 36:1 Mr. PAUL. Madam Speaker, the American shrimp industry is a textbook example of a great American business crippled by foolish government policies. Congress and the federal bureaucracy have burdened shirmpers with needless regulations and laws that dramatically raise shrimpers’ cost of doing business while subsidizing American shrimpers’ overseas competitors. Unless Congress soon reverses course and repeals these destructive government policies, many shrimpers will be forced out of business. business CONGRESS MUST ACT TO HELP SHRIMPERS 19 June 2008    2008 Ron Paul 36:6 Of course, American shrimpers, like all American businesses that compete in the global marketplace, also suffers from the weak U.S. dollar. Congress’s fiscal irresponsibility is a major cause of the weakening U.S. dollar. business CONGRATULATIONS TO RANDY SMITH 24 July 2008    2008 Ron Paul 51:3 As the President/CEO, Mr. Smith has focused on strengthening the way Randolph- Brooks delivers services aimed at improving the economic well being and quality of life of its members. Consistently ranked among the top 25 of the nearly 8,300 financial cooperatives, Randolph-Brooks is one of the strongest credit unions in the country with more than 265,000 members and total assets exceeding $3 billion. Randolph-Brooks FCU was originally chartered in 1952 to serve personnel at Randolph Air Force Base but has since expanded to include employees and associates at more than 1,300 select groups and eight underserved communities in the San Antonio and Austin areas. Randolph-Brooks FCU prides itself on doing more than just conducting business in the communities they serve, instead becoming members of the community and sharing in the credit union philosophy of “people helping people.” With this in mind, Randolph-Brooks provides assistance to hundreds of local charitable organizations including the Children’s Miracle Network, Society of St. Vincent de Paul, USO, American Red Cross, and the Fisher House Foundation. business Statement on H. R. 6599, Military Construction/Veterans Affairs Appropriations 1 August 2008    2008 Ron Paul 57:3 The bill will transfer more than $200 million to NATO, an organization with no purpose that should be disbanded immediately, for the construction of NATO facilities in countries where we have no business having our military in the first place. business “The Future of Financial Services: Exploring Solutions for the Market Crisis” September 24, 2008    2008 Ron Paul 59:1 Mr. Chairman, It is truly a shame that, less than two decades after the fall of communism, the lessons of price control are completely lost on most Washington power-brokers. The Treasury proposal before Congress is nothing more than a form of price control, an attempt to keep asset prices artificially elevated. The root of our recent economic boom, as in any other business cycle, was government intervention into the market under the guise of lowering the interest rate, which is itself a price. The function that prices play in the market in equalizing supply and demand, and the distortions that necessarily accompany each government effort at price-fixing, are forgotten by too many in Washington. business “The Economic Outlook” September 24, 2008    2008 Ron Paul 60:2 One of the perverse effects of this bailout proposal is that the worst-performing firms, and those who interjected themselves most deeply into mortgage-backed securities, credit default swaps, and special investment vehicles will be those who benefit the most from this bailout. As with the bailout of airlines in the aftermath of 9/11, those businesses who were the least efficient, least productive, and least concerned with serving consumers are those who will be rewarded for their mismanagement with a government handout, rather than the failure of their company that is proper to the market. This creates a dangerous moral hazard, as the precedent of bailing out reckless lending will lead to even more reckless lending and irresponsible behavior on the part of financial firms in the future. business “The Economic Outlook” September 24, 2008    2008 Ron Paul 60:4 As with many other government proposals, the opportunity cost of this bailout goes unmentioned. $700 billion tied up in illiquid assets is $700 billion that is not put to productive use. That amount of money in the private sector could be used to research new technologies, start small business that create thousands of jobs, or upgrade vital infrastructure. Instead, that money will be siphoned off into unproductive assets which may burden the government for years to come. The great French economist Frederic Bastiat is famous for explaining the difference between what is seen and what is unseen. In this case the bailout’s proponents see the alleged benefits, while they fail to see the jobs, businesses, and technologies not created due to this utter waste of money. business The Austrians Are Right November 20, 2008    2008 Ron Paul 71:2 Except for a rare few, Members of Congress are unaware of Austrian Free Market economics. For the last 80 years, the legislative, judiciary and executive branches of our government have been totally influenced by Keynesian economics. If they had had any understanding of the Austrian economic explanation of the business cycle, they would have never permitted the dangerous bubbles that always lead to painful corrections. business UNTITLED 10 December 2008    2008 Ron Paul 73:4 The Federal Reserve has literally created over $2 trillion here in the last several months, at least in obligations, and that is outside the realm of the Congress. We don’t even audit the Federal Reserve. They create this money, and when the Fed Chairman comes before our committee and we ask, well, where did you dispose of this $2 trillion that you have created recently, he says well, it is not your business. That is not necessary. Under the law, he doesn’t even have to tell us. business UNTITLED 10 December 2008    2008 Ron Paul 73:8 Unfortunately, instead of repealing regulations and cutting taxes, Congress is nationalizing the automakers by giving them access to $14 billion of taxpayer funds in return for giving the federal government control over the management of these firms. Mr. Speaker, the federal government has neither the competence nor the constitutional authority to tell private companies, such as automakers, how to run their businesses. Yet, the bailout proposal forces automobile manufacturers to submit their business plans for the approval of a federal “car czar.” This czar will not only have the authority to approve the automakers’ restructuring plan, but will also monitor implementation of the plans. The czar will also be able to stop transactions that are “inconsistent with the companies’ long-term viability.” Of course, the czar has the sole authority to determine what transactions are “inconsistent with the companies’ long-term viability.” business UNTITLED 10 December 2008    2008 Ron Paul 73:9 I would have thought that failed experiments with central planning and government control of business that wrought so much harm in the last century would have taught my colleagues the folly of making businesses obey politicians and bureaucrats instead of heeding the wishes of consumers, employees, and stockholders. business INTRODUCTION OF THE IDENTITY THEFT PREVENTION ACT January 6, 2009    2009 Ron Paul 4:17 Second, the federal government has been creating proprietary interests in private information for certain state-favored special interests. Perhaps the most outrageous example of phony privacy protection is the “medical privacy”’ regulation, that allows medical researchers, certain business interests, and law enforcement officials access to health care information, in complete disregard of the Fifth Amendment and the wishes of individual patients! Obviously, “privacy protection” laws have proven greatly inadequate to protect personal information when the government is the one seeking the information. business Bailout January 14, 2009    2009 Ron Paul 8:5 I do want to address the subject more specifically about moral hazard and why the system was so deeply flawed. That is, when a Federal Reserve system and a central bank create easy money and easy credit and they have interest rates lower than they should be, businesspeople do the wrong things. They make mistakes. It’s called malinvestments, and we’ve been doing it for a long time. It causes financial bubbles, and they have to be corrected. business THE TAX FREE TIPS ACT January 28, 2009    2009 Ron Paul 13:2 Many service-sector employers are young people trying to make money to pay for their education, or single parents struggling to provide for their children. Oftentimes, these workers work two jobs in hopes of making a better life for themselves and their families. The Tax Free Tips Act gives these hard-working Americans an immediate pay raise. People may use this pay raise to devote more resources to their children’s, or their own, education, or to save for a home, retirement, or to start their own businesses. business INTRODUCTION OF THE TAX RELIEF FOR TRANSPORTATION WORKERS ACT February 13, 2009    2009 Ron Paul 16:4 Unless Congress acts to relieve some of the economic burden the TWIC requirement places on those who work in the port industry, the damage done could reach beyond the port employers and employees to harm businesses that depend on a strong American port industry. This could be very harmful to both interstate and international trade. business Humphrey-Hawkins Hearing Statement February 25, 2009    2009 Ron Paul 18:4 When banking giants are reimbursed for their losses through redistribution of taxpayer money, what lesson do we expect them to learn? Can anyone in Washington say with a straight face that these banks will shape up their business practices when they are almost guaranteed billions of dollars in taxpayer funds? Even if this does provide a temporary lifeline, it only delays the inevitable collapse of a banking system built on an unsustainable model. Fractional-reserve banking is completely dependent on faith in the banks’ abilities to repay depositors, and when that ability is thrown into doubt, the house of cards comes crashing down. The Federal Reserve may be able to manage public confidence, but confidence only goes so far. When banks are required to hold a maximum of ten percent of their deposits on reserve, the system is fundamentally insolvent. Such a system cannot be propped up or bailed out, except at the cost of massive creation of money and credit, which would result in a hyperinflation that would completely destroy our economy. business INTRODUCING THE CHILD HEALTH CARE AFFORDABILITY ACT March 12, 2009    2009 Ron Paul 27:3 As an OB–GYN who has had the privilege of delivering more than four thousand babies, I know how important it is that parents have the resources to provide adequate health care for their children. The inability of many working Americans to provide health care for their children is rooted in one of the great inequities of the tax code – Congress’s failure to allow individuals the same ability to deduct health care costs that it grants to businesses. As a direct result of Congress’s refusal to provide individuals with health care related tax credits, parents whose employers do not provide health insurance have to struggle to provide health care for their children. Many of these parents work in low-income jobs; oftentimes, their only recourse for health care is the local emergency room. business Federal Reserve Monetizes Debt April 1, 2009    2009 Ron Paul 41:16 You know, we do blame the banks and we blame the business people and everybody. But you know, I have a lot of people that come to my office and say, Cut his, cut his, but don’t cut my program. business FAMILY EDUCATION FREEDOM ACT April 2, 2009    2009 Ron Paul 43:2 The Family Education Freedom Act returns the fundamental principal of a truly free economy to America’s education system: what the great economist Ludwig von Mises called “consumer sovereignty”. Consumer sovereignty simply means consumers decide who succeeds or fails in the market. Businesses that best satisfy consumer demand will be the most successful. Consumer sovereignty is the means by which the free market maximizes human happiness. business TRIBUTE TO BURT BLUMERT April 2, 2009    2009 Ron Paul 49:1 Mr. PAUL. Madam Speaker, Burton Samuel Blumert passed away on Monday March 30, following a long battle with cancer. Burt was a true hero of the freedom movement and my close friend, advisor, and business partner. business TRIBUTE TO BURT BLUMERT April 2, 2009    2009 Ron Paul 49:2 As the founder and manager of Camino Coins in Burlingame, CA, Burt was one of the nation’s leading dealers in gold and silver coins. A student of Ludwig von Mises and the Austrian school of economics, Burt understood the important role precious metals played in protecting ordinary citizens from the damage wrought by fiat money and inflation. Thus, he regarded his work as a coin dealer not just as a business, but as an opportunity to help people by providing with some protection from the Federal Reserve’s inflation tax. business TRIBUTE TO BURT BLUMERT April 2, 2009    2009 Ron Paul 49:3 After I stepped down from Congress in 1984, I partnered with Burt in the coin business, a partnership which lasted until I returned to Congress in 1996. Our partnership was based on nothing more than our words. business TRIBUTE TO BURT BLUMERT April 2, 2009    2009 Ron Paul 49:4 As anyone who ever dealt with Burt could testify, that was all that was needed, because Burt’s word was truly his bond. I am unaware of anyone who dealt with Burt who questioned his integrity or his commitment to his customers. As well-known and respected as he was for his leadership in the coin business, Burt was best known as a promoter of libertarian ideas. Burt was a long time friend and patron of Murray Rothbard, one of Mises’ top American students and a pioneer in economics, political theory, history, and much else. Burt helped Murray establish the Center for Libertarian Studies, and served as its president from 1975 until his death. business INTRODUCTION OF THE LIBERTY AMENDMENT April 30, 2009    2009 Ron Paul 50:5 Income taxes not only diminish liberty, they retard economic growth by discouraging work and production. Our current tax system also forces Americans to waste valuable time and money on compliance with an ever-more complex tax code. The increased interest in flat- tax and national sales tax proposals, as well as the increasing number of small businesses that question the Internal Revenue Service’s IRS) “withholding” system provides further proof that America is tired of the labyrinthine tax code. Americans are also increasingly fed up with an IRS that continues to ride roughshod over their civil liberties, despite recent “pro-taxpayer” reforms. business INTRODUCING THE PROTECT PATIENTS’ AND PHYSICIANS’ PRIVACY ACT May 21, 2009    2009 Ron Paul 59:9 Madam Speaker, allowing patients and providers to opt out of the electronic medical records system will in no way harm the practice of medicine or the development of an efficient system of keeping medical records. Instead, it will enhance these worthy goals by ensuring patients and physicians can escape the inefficient, one-size-fits-all government- mandated system. By creating a market for alternatives to the government system, the op- out ensures that private businesses can work to develop systems that meet the demands for an efficient system of electronic records that protects patients’ privacy. I urge my colleagues to stand up for privacy and quality health care by cosponsoring the Protect Patients’ and Physicians’ Privacy Act. business INTRODUCTION OF THE AFFORDABLE GAS PRICE ACT May 21, 2009    2009 Ron Paul 60:5 Federal fuel taxes are a major part of gasoline’s cost. The Affordable Gas Price Act suspends the Federal gasoline tax any time the average gas prices exceeds $3.00 per gallon. During the suspension, the Federal Government will have a legal responsibility to ensure the Federal highway trust fund remains funded. My bill also raises the amount of mileage reimbursement not subject to taxes, and, during times of high oil prices, provides the same mileage reimbursement benefit to charity and medical organizations as provided to businesses. business COMMEMORATING 20TH ANNIVERSARY OF THE TIANANMEN SQUARE SUPPRESSION June 2, 2009    2009 Ron Paul 61:2 As to the substance of the resolution, I find it disturbing that the House is going out of its way to meddle in China’s domestic politics, which is none of our business, while ignoring the many pressing issues in our own country that definitely are our business. business Let People Decide Whether To Use Tobacco June 12, 2009    2009 Ron Paul 66:4 One part of this bill that I find particularly bad, but it is pervasive in so much of what we do, about 100 years ago we took the First Amendment and freedom of speech and chopped it into two pieces. We have political speech. Of course we like that. We’re in the business of politics. But we take commercial speech, and we put it over here, and we regulate the living daylights out of commercial speech. That’s not a First Amendment. That’s chopping freedom in half, and that just leads to more problems. But this will lead to prohibition, and it won’t work. This will just give us a lot more trouble. business EARMARK DECLARATION June 16, 2009    2009 Ron Paul 68:7 Description of Request: An earmark of $1,000,000 to fund the Bay Area SATOP program to transfer the knowledge and technology of the U.S. Space Program to small businesses. SATOP provides technical assistance to small businesses. business CONGRATULATING STEVE LEBLANC, CITY MANAGER OF GALVESTON, TEXAS June 18, 2009    2009 Ron Paul 70:2 A longtime resident of Galveston Island, Steve has a Bachelor of Science in Coastal Engineering from Texas A&M and a Master of Business Administration from the University of Houston. He has served as Galveston’s city manager since March 1997. Before being named city manager, Steve held several positions with the city including Director of Utilities, Director of Public Works, and Assistant City Manager. business LESSONS TO BE LEARNED FROM MAYOR SCARCELLA OF STAFFORD, TEXAS June 19, 2009    2009 Ron Paul 74:1 Mr. PAUL. Madam Speaker, public officials looking for ways to increase economic growth and attract new residents and businesses to their cities, counties, or states could learn a lot from the city of Stafford, Texas, and Mayor Leonard Scarcella. Stafford has flourished since 1995 when, under Mayor Scarcella’s leadership, the city eliminated the property tax. business LESSONS TO BE LEARNED FROM MAYOR SCARCELLA OF STAFFORD, TEXAS June 19, 2009    2009 Ron Paul 74:4 Entrepreneurs looking to start up businesses are attracted to Stafford because of the lack of property taxes, Fortune magazine ranks Stafford the 36th best American city to start and run a small business. business HONORING FROST, HOMETOWN, MOODY NATIONAL AND TEXAS FIRST BANKS July 14, 2009    2009 Ron Paul 76:2 Last fall, as the people of Galveston were assessing the damage from Hurricane Ike and Congress was beginning debate on spending billions of taxpayer funds to bail out irresponsible financial institutions, representatives of Frost, HomeTown, Moody National and Texas First banks met to discuss how these banks could help jumpstart hurricane recovery efforts. The four banks agreed to make unsecured bridge loans to Galveston businesses to ensure these businesses had access to capital while they waited for federal assistance and insurance payments. business HONORING FROST, HOMETOWN, MOODY NATIONAL AND TEXAS FIRST BANKS July 14, 2009    2009 Ron Paul 76:3 The four banks made more than $40 million in recovery loans. These loans provided lifelines to many businesses struggling with both the devastation of Hurricane Ike and the credit crisis. Without the efforts of these four banks, several Galveston businesses would have had to shut their doors. business HONORING FROST, HOMETOWN, MOODY NATIONAL AND TEXAS FIRST BANKS July 14, 2009    2009 Ron Paul 76:4 In conclusion, Madam Speaker, I extend my thanks to management and employees of Frost, HomeTown, Moody National, and Texas First banks for their efforts to help the businesses and people of Galveston recover from Hurricane Ike. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:2 Last fall, as the people of Galveston were assessing the damage from Hurricane Ike and Congress was beginning debate on spending billions of taxpayer funds to bail out irresponsible financial institutions, representatives of Frost, HomeTown, Moody National and Texas First banks meet to discuss how these banks could help jumpstart hurricane recovery efforts. The four banks agreed to make unsecured bridge loans to Galveston businesses to ensure these businesses had access to capital while they waited for federal assistance and insurance payments. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:3 The four banks made more than $40 million recovery loans. These loans provided lifelines to many businesses struggling with both the devastation of Hurricane Ike and the credit crisis. Without the efforts of these four banks, several Galveston businesses would have had shut their doors. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:4 In conclusion, Madam Speaker, I extend my thanks to management and employees of Frost, HomeTown, Moody National, and Texas First banks for their efforts to help the businesses and people of Galveston recover from Hurricane Ike. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:6 After several meetings, some in storm- swamped buildings under generator-powered lights, representatives of Frost, HomeTown, Moody National and Texas First banks agreed to make unsecured bridge loans to island businesses for rebuilding until federal money and insurance payments materialized. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:7 The community banks made more than $40 million in recovery loans at a time when lending by industry giants had all but ground to a halt. The 180-day loans, at 5 percent interest, were a lifeline to local businesses hoping to recover quickly from a hurricane that inflicted $11.4 billion in damage along the upper Texas Coast. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:8 Some island business owners said their livelihoods would have been lost for good had not been for the help of community bankers. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:14 BRIDGE OF DOLLARS HomeTown Bank, at last count, had made more than $6 million in bridge loans to area businesses after the storm, said Jimmy Rasmussen, president and chief executive officer. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:22 IN IT TOGETHER And if a lot of local businesses failed, the local banks were going to feel it, so they had an interest in the success of their neighbors. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:23 “If Galveston business didn’t recover, we’re all going to be damaged, all going to take losses,” said Vic Pierson, president of Moody National Bank, which made about $21 million in recovery loans after the storm. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:24 “It was in our best interest to do whatever we could to assist as rapidly as we could for business recovery on the island.” business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:25 STRONG RELATIONSHIPS Those who didn’t have strong relationships with their bankers were left waiting for help from the Small Business Administration and the Federal Emergency Management Agency, Pierson said. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:27 “A business couldn’t wait three or four months to get started and I think that’s where the local community banks came in.” business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:28 Watching a business rebuild can encourage others to follow, Pierson said. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:29 “It was absolutely critical that people started putting their businesses back together and making a statement,” Pierson said. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:30 NEED REMAINS Albert Shannon, Frost Bank’s group president in this region, and other bankers interviewed for this story credited Mayor Lyda Ann Thomas and Jeff Sjostrom, president of Galveston Economic Development Partnership, for the idea of recovery loans. Island businessman Gerald Sullivan, who early after the storm was appointed by Thomas to help with recovery, also played a role in encouraging recovery loans, bankers said. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:34 Still only about 75 percent of the island’s 2,500 business have returned, Sjostrom said. Many were uninsured for flood damage when Ike struck. business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:35 Businesses that aren’t able to turn to the banks are doing what they can to recover, Sjostrom said, business COMMUNITIES REBUILD AFTER HURRICANE IKE July 15, 2009    2009 Ron Paul 79:36 “They’re not sitting back waiting and crying,” Sjostrom said. “They’re going forward doing what they have to make it work. We still have a lot of businesses that need financial help.” business INTRODUCTION OF THE CONGRESSIONAL RESPONSIBILITY AND ACCOUNTABILITY ACT July 29, 2009    2009 Ron Paul 86:1 Mr. PAUL. Madam Speaker, I rise to introduce the Congressional Responsibility and Accountability Act. This bill requires Congress to specifically authorize via legislation any proposed federal regulation that will impose costs on any individual of at least $5,000, impose costs on a business or other private organization of at least $10,000, or impose aggregate costs on the American people of at least $25,000, or cause any American to lose his or her job. business H.R. 3269 July 31, 2009    2009 Ron Paul 89:5 In order to understand the reasons behind excessive executive compensation, we need to take a look at the root causes. The salaries and bonuses raising the most ire are those from the financial sector, the sector which directly benefits from the Federal Reserve’s loose monetary policy. Loose monetary policy leads to speculative bubbles which drive up stock prices and enrich executives who cash in their stock options. It makes debt cheaper, which encourages reckless business expansion. And it shuttles money from industries that produce valuable products and services to industries that are favored by the federal government. H.R. 3269 is a well-intended but misguided piece of legislation. Until we strike at the root of the problem, we will never get our financial system back on a firm footing. business CONGRATULATING SHARK TOWN MICRO COMMUNITY November 18, 2009    2009 Ron Paul 99:1 Mr. PAUL. Madam Speaker, Monday, November 23, in Port Lavaca, Texas, IBC Bank and HJM Elementary School will co-host the Shark Town Micro Community Grand Opening. Shark Town Micro Community is an innovative education program that gives HJM Elementary students the opportunity to learn “real world” business and financial skills. I am pleased to extend my best wishes to the people of IBC Bank, HJM Elementary, and all the businesses, educators, and, especially, students participating in this program. business CONGRATULATING SHARK TOWN MICRO COMMUNITY November 18, 2009    2009 Ron Paul 99:3 Students may choose to work at any of a variety of business, including an IBC Bank, Wal-Mart, and HEB grocery store. Students can also work at Shark Town’s branch of the IRS, student workers have to pay taxes, one of Shark Town’s utility companies, the post office, the local newspaper, the safety patrol, or the recycling center. Students may also train to be future teachers. business CONGRATULATING SHARK TOWN MICRO COMMUNITY November 18, 2009    2009 Ron Paul 99:4 Local Port Lavaca businesses sponsor their Shark Town counterparts. The businesses provide their Shark Town counterparts with signs, badges, and shirts for their employees. Local businesses also provide funds for the Shark Town companies. Employees of the local businesses also periodically visit the school to offer assistance to their counterpart businesses. business CONGRATULATING SHARK TOWN MICRO COMMUNITY November 18, 2009    2009 Ron Paul 99:6 Madam Speaker, the Shark Town Micro Community program represents an innovative means of providing students with a unique opportunity to learn about how businesses operate as well as develop work and financial management habits that will serve them well throughout their lives. It is my pleasure to again congratulate all those participating in the Shark Town Micro Community project. business TRANSPARENCY AT THE FEDERAL RESERVE December 1, 2009    2009 Ron Paul 100:3 Since the Fed is the source of all economic downturns, it’s impossible for any central banker to regulate in such a manner to prevent the problems that are predictable consequences of his own monetary management. The Federal Reserve fixes interest rates at levels inevitably lower than those demanded by the market. This manipulation is a form of price control through credit expansion, and is the ultimate cause of business cycles and so many of our economic problems, generating the mal- investment, excessive debt, stock, bond, commodity, and housing bubbles. business Sanctions on Iran, Part 1 December 15, 2009    2009 Ron Paul 104:3 The sanctions are a use of force. This is just not modest. This is very serious. And the way this is written, it literally could end up with a blockade. It could be trying to punish our friends and cut off trade, and this cannot help us in any way. We would like to help the dissidents. We’d like to encourage them to overthrow their government. But hardly should we have our CIA, with U.S. funded programs, going in there with a policy of regime change. They know these kind of things happen. We’ve been involved in this business in Iran since 1953. And it doesn’t serve us well. It backfires on us, comes back to haunt us. business Sanctions on Iran, Part 3 December 15, 2009    2009 Ron Paul 106:7 Mr. Speaker, I would like to make a few more points as to why I oppose this new round of sanctions on Iran, which is another significant step toward a U.S. war on that country. I find it shocking that legislation this serious and consequential is brought up in such a cavalier manner. Suspending the normal rules of the House to pass legislation is a process generally reserved for “non-controversial” business such as the naming of post offices. Are we to believe that this House takes matters of war and peace as lightly as naming post offices? business Sanctions on Iran, Part 3 December 15, 2009    2009 Ron Paul 106:8 This legislation seeks to bar from doing business in the United States any foreign entity that sells refined petroleum to Iran or otherwise enhances Iran’s ability to import refined petroleum such as financing, brokering, underwriting, or providing ships for such. Such sanctions also apply to any entity that provides goods or services that enhance Iran’s ability to maintain or expand its domestic production of refined petroleum. This casts the sanctions net worldwide, with enormous international economic implications. business Sanctions on Iran, Part 3 December 15, 2009    2009 Ron Paul 106:10 Are we to conclude, with this in mind, that China or its major state-owned corporations will be forbidden by this legislation from doing business with the United States? What of our other trading partners who currently do business in Iran’s petroleum sector or insure those who do so? Has anyone seen an estimate of how this sanctions act will affect the US economy if it is actually enforced? Texas Straight Talk business - Offices will provide service to all parts of district 20 December 1996    Texas Straight Talk 20 December 1996 verse 9 ... Cached An innovative change, though, will come from the use of a "mobile" office. This office - a modified RV - will travel the district on a set schedule, opening for business at the smaller, more remote sections of the district to give individuals greater direct contact with the congressional staff than ever before. The mobile office will be able to process all the questions and inquiries the traditional offices handle, including helping people secure their Social Security and Veterans' benefits. Watch your paper for more details. business - Fiscal Responsibility: Balance the budget but don't raise taxes or cook the books 20 January 1997    Texas Straight Talk 20 January 1997 verse 12 ... Cached I am committed to doing everything possible to balance the budget and cut taxes. The truth of the matter is that we will only balance the budget when we address the level of spending which takes place at the federal level. The US budget is ripe with targets for cuts which would hurt no one (except, of course, those who get rich and powerful from the big government programs). If the politicians in both parties were serious about balancing the budget - without cooking the books or increasing our taxes - they could do so right now by making cuts in the unconstitutional programs they continue to fund year after year. The only way to get our fiscal house in order is for Congress to exercise its responsibility and begin making the relatively simple choices about which programs are necessary for running our constitutional government, and which simply have no business operating at the federal level. business - The China Syndrome: Let's not be hasty with a prescription 20 June 1997    Texas Straight Talk 20 June 1997 verse 11 ... Cached The second way it hurts Americans is the reciprocal barriers China will inevitably create. It will be almost impossible for our farmers and businessmen to sell their products there, which is why nearly every farmer and every agricultural group I have heard from supports MFN. business - The China Syndrome: Let's not be hasty with a prescription 20 June 1997    Texas Straight Talk 20 June 1997 verse 14 ... Cached "As commercial networks develop, Chinese business people are able to travel freely, and Chinese believers have more disposable income with which to support evangelistic endeavors," Sirico writes. Even worse, the missionaries have been reporting that "such action would endanger their status there, and possibly lead China to revoke their visas. It would severely limit opportunities to bring in… religious materials. These missionaries understand that commercial relations are a wonderfully liberating force that allow not only mutually beneficial trade but also cultural and religious exchanges." business - Line-Item Veto violates separation of powers, threatens America's constitutional form of government 18 August 1997    Texas Straight Talk 18 August 1997 verse 4 ... Cached While Congress is not in session for the month of August, important business does continue in Washington. Even though I'm in Texas for the month, I am intrigued by an historic event of the past week: Bill Clinton became the first US President to wield the line-item veto -- a power which I believe is a major stain on the legacy of the so-called conservative revolution of the 104th Congress, two years ago. business - Paul's legislation focuses on individual liberty 25 August 1997    Texas Straight Talk 25 August 1997 verse 12 ... Cached The second piece of legislation I will discuss this week is HR 1121, the Financial Freedom Act. This legislation will directly affect every American who does business with a credit union or a bank. Over the years banks and credit unions have rightly perceived that they are disparately burdened by federal regulations and taxation, and have seen any relief for their 'competitors' as harmful to their own business. business - Congress continues to ignore Constitution in the appropriations process 29 September 1997    Texas Straight Talk 29 September 1997 verse 10 ... Cached This week the Congress has a full plate, including legislation re-authorizing the Export-Import Bank, or Ex-Im. The Ex-Im is one of the mechanisms by which politicians are able to use your tax money to subsidize the actions of big, multinational corporations. Besides being unconstitutional, the Ex-Im Bank runs contrary to free market economics. It is unreasonable that taxpayers should be forced to foot the bill for funding risky ventures by big business. The Ex-Im Bank is the welfare engine for corporate America, paid for on the backs of the American taxpayer. The supporters of Ex-Im readily admit taxpayers have subsidized more than $100 billion of big-business deals in this decade alone. business - US shouldn't cast stones with Religious Persecution 06 October 1997    Texas Straight Talk 06 October 1997 verse 4 ... Cached For a long time I have advocated getting rid of the Export-Import Bank. It is unconstitutional for the federal government, using your money, to be subsidizing the risky business ventures of corporations. And often, these ventures involve giving large sums of money and aid to oppressive foreign governments, like China. business - US shouldn't cast stones with Religious Persecution 06 October 1997    Texas Straight Talk 06 October 1997 verse 13 ... Cached While basic human rights must include free religious exercise, those rights must also include the right to associate with others. To prohibit individuals from the U.S. from meeting and trading with the individual citizens of foreign countries - in the name of "protecting" human rights - is inconsistent with the goal we all hope to achieve. It is only by changing the hearts of those nations' leaders that religious persecution will end. And it is only by allowing our missionaries and businessmen unfettered access to those countries that we will see those leaders influenced for the better. business - By Any Other Name, A Tax Is Still A Tax 27 October 1997    Texas Straight Talk 27 October 1997 verse 9 ... Cached But in the process of bringing the bill to the floor, the House leadership altered the legislation, adding language which, according to the Joint Committee on Taxation, will increase taxes by more than a billion dollars over the next two years. The bill increases taxes by overturning a taxpayer-friendly tax court ruling on how businesses are taxed on pay-outs for employee vacation time. In short, the employer pays more taxes, the employee gets less money, and we all pay the cost in the prices at the cash register. business - Congress has finished for the year, but fast-track is not dead 17 November 1997    Texas Straight Talk 17 November 1997 verse 4 ... Cached An American wit once said that every man's life or property is in danger when Congress is in session. If that's true, then America is safe at least until the end of January because Congress finished its legislative business for the year last week. But all is not closed on the issue of trade. business - Taxes and regulations will never lead to prosperity 08 December 1997    Texas Straight Talk 08 December 1997 verse 10 ... Cached Our businesses are subject to invasion at will by government bureaucracy without warning, to save us from ourselves, while destroying our freedoms. As the bureaucracy thrives, the command society expands. business - Kyoto treaty disregards science for a radical anti-American agenda 15 December 1997    Texas Straight Talk 15 December 1997 verse 10 ... Cached This treaty will wreck havoc on the US economy if it becomes law. This will force many industries to close their doors here and move to China (or a similar nation) to escape the new regulations, throwing thousands of Americans out of work. Further, limiting the use of coal, gas and related sources will increase energy prices not only for businesses, but the individual consumer as well. So not only will many families be tossed into unemployment lines by these environmental radicals, but many more people will face a reduced standard of living just to heat their homes. business Fighting for liberty takes place in Washington and in the district 23 February 1998    Texas Straight Talk 23 February 1998 verse 7 ... Cached Whether its OSHA agents banging on the counters of small business owners, or EPA enforcers inspecting the dirt of the farmer, or the IRS threatening single mothers and retired veterans, the American people have constant contact with federal agencies. There are some in our nation who like the current arrangement, and even believe the federal government should take on even bigger roles in our lives and business. Often the excuse for these ever expanding roles for the federal government is that we need to help people, or that some wrong can be put right only by some collectivist activity. business Fighting for liberty takes place in Washington and in the district 23 February 1998    Texas Straight Talk 23 February 1998 verse 9 ... Cached The American people need and want, they demand, less government, not more. The American people want fewer bureaucrats breathing down their necks, not more. The American people want to keep more of what they earn, not less. The American people want the federal government to get out of their wallets, off their land, out of their schools, and out of the way. As I travel the district I hear people telling me they are tired of the imperious attitude of politicians who dare to say they are coming in to "partner" with farmers and small businessmen through new programs, bigger agencies and, of course, more taxes. But when politicians and federal bureaucrats talk about "partnering," it becomes a one-sided relationship with the government calling the shots and taking the rewards, while the farmer and small businessman get stuck with the work and the costs. business Liberty must be our goal 04 May 1998    Texas Straight Talk 04 May 1998 verse 6 ... Cached That is disgraceful, which is why I wanted to come to Congress in the first place. For someone to work six months out of the year only to pay the tax-bill is ridiculous. Think about what you get for your money: EPA agents to grab your land if they think there are endangered weeds on it, OSHA inspectors to shut down your business for "improper" labeling of liquid paper, and IRS inspectors to seize your bank accounts if you use the wrong color of ink on the tax form. business Trade, not aid or isolation, should be US foreign policy 22 June 1998    Texas Straight Talk 22 June 1998 verse 14 ... Cached And there is another dynamic in place as we look toward engagement rather than isolation, and that is the issue of aid. For years the American taxpayer has been forced to subsidize hundreds of governments around the world, including those of some of the most vicious dictators in history, in the name of either "promoting human rights" in that country, or in the interest of "national security." Often times, tax dollars are being used to prop up these dictators, while at the same time trade sanctions prevent US farmers and small businessmen from selling their products in that market. business Trade, not aid or isolation, should be US foreign policy 22 June 1998    Texas Straight Talk 22 June 1998 verse 15 ... Cached So while the farmer or small businessman is losing money by being forbidden to enter a potentially lucrative market, he is being taxed at higher rates to pay for subsidies to those same foreign governments. business Trade, not aid or isolation, should be US foreign policy 22 June 1998    Texas Straight Talk 22 June 1998 verse 16 ... Cached A more sensible - constitutionally, morally and economically - alternative to our current foreign policy is one of engagement by individuals in trade, and an end to the imperious system of foreign aid. Unless a nation represents a clear and present danger to our national security, we should allow, even encourage, our best ambassadors - who are our businessmen, our farmers, our ranchers - to engage in mutually beneficial trade with people of all nations and regions. As goods are traded, so are ideas. And just as American products are the finest in the world, so too is the philosophy of liberty. business Trade, not aid or isolation, should be US foreign policy 22 June 1998    Texas Straight Talk 22 June 1998 verse 17 ... Cached Of course, this policy still leaves open the chance for Americans of conscience to boycott products made in other nations, or to choose not to do business with Americans who enter into trade with countries of which they disapprove. business Respect for property rights necessary for freedom 06 July 1998    Texas Straight Talk 06 July 1998 verse 7 ... Cached So while a land owner may choose to build a big factory on his land, he must be very careful to ensure that no harm comes to adjacent property owners, or he will face the unmitigated wrath of those neighbors. In the past, big businesses often colluded with government to allow them to pollute their neighbors land, leaving the adjacent owners with devalued property and no recourse. business Respect for property rights necessary for freedom 06 July 1998    Texas Straight Talk 06 July 1998 verse 11 ... Cached Freedom only exists where there is complete respect for rights of property ownership. When we go to another person's land, or home, or business, we should expect to be bound by their rules of conduct. And they should be free to protect their property and family as they see fit. business Integrity of Social Security Number must be maintained 20 July 1998    Texas Straight Talk 20 July 1998 verse 7 ... Cached Anyone who doubts that we are well on the way to using the Social Security number as an universal identifier need only look back to 1996. In that year, two major pieces of legislation passed leading this nation down the path toward the National ID. The first was the welfare reform bill, which forces business to report the Social Security number of every new employee to the federal government so it may be recorded in a national database. The second was the Illegal Immigration and Immigrant Responsibility Act, which required that the Department of Transportation implement "standards" for state drivers' licenses that must be followed or the citizens be punished. business Deceptive economic euphoria 17 August 1998    Texas Straight Talk 17 August 1998 verse 7 ... Cached Is anyone asking serious questions about what is going on and how long will the good times roll? A few, but they are not inside the Capitol Building. Outside the beltway, it's a different story. Many people I talk to are outright skeptical, or just don't believe the propaganda, and many don't even listen to the nonsense coming from our political leaders. They are struggling to pay their bills, believe taxes are way too high, that business and personal regulations are too numerous and overbearing, that inflation is alive and social security is broken. And this in spite of being at the peak of a grand economic "recovery" with the markets in the world awash in paper dollars and paper profits. business Taxpayer cash flowing again to non-citizens 31 August 1998    Texas Straight Talk 31 August 1998 verse 12 ... Cached But these programs of giving away Americans' tax dollars to non-citizens is not limited to welfare programs at home. We see it also with the subsidization of foreign corporations and foreign nationals through the International Monetary Fund, the World Bank and other organizations. Of course, supporters of these welfare programs like to claim that they "help" America's small businessmen and farmers, but the proof simply doesn't exist. In fact, much like the recent "farm legislation," the pay-out to the foreign nationals and corporations is much larger than the small bones thrown to our people as a form of sick appeasement, to keep them paying into, and believing in, the system of redistribution. business Tax measure provides income averaging 12 October 1998    Texas Straight Talk 12 October 1998 verse 6 ... Cached Just as the actual processes of agriculture demands a long-term view, so too does understanding the income and wealth of those engaged in the business. The "really good" years cancel out the "really" bad, as the "good" do with the "bad," finally resulting in an average. business Tax measure provides income averaging 12 October 1998    Texas Straight Talk 12 October 1998 verse 12 ... Cached While Congress and the federal government cannot control the weather, they can ensure that hard working Americans are not unfairly punished under our tax law because the nature of their business is so tied with nature's cycles. business Schizophrenic foreign policy leads to problems 23 November 1998    Texas Straight Talk 23 November 1998 verse 7 ... Cached We must either be engaged in a purely schizophrenic foreign policy, or we must admit to there being such a thing as "good thugs versus bad thugs." Or, we have to say our policies are driven by the commercial interests of big business (to "protect" the availability of foreign oil, in the case of Iraq). It is hard to decide which of the three could be worse. business Free speech is good medicine 07 December 1998    Texas Straight Talk 07 December 1998 verse 16 ... Cached Most Americans look for the seal of approval from the AAA, Good Housekeeping, U.L., Better Business Bureau and multitude of other private sources when shopping for goods and services. business Phase-in of tax cuts make code more complex 01 March 1999    Texas Straight Talk 01 March 1999 verse 8 ... Cached Small business owners will have two important changes to their deductions. The first is a deduction in health insurance premiums. This year, small businesses can deduct $45% of the premiums. Next year, for tax year 1999, that deduction will be 60% of the cost. Within four years, the deduction is expected to be 100%. business Phase-in of tax cuts make code more complex 01 March 1999    Texas Straight Talk 01 March 1999 verse 9 ... Cached Come next year, small businesses will also be able to deduct up to $19,000 in expenses for tangible personal property that is purchased for use in the conduct of a trade or business. The deduction is up from the $18,500 that can be claimed on 1998's tax year. By 2003, the deduction will increase to $25,000 in 2003 and thereafter. business Phase-in of tax cuts make code more complex 01 March 1999    Texas Straight Talk 01 March 1999 verse 14 ... Cached Americans should not be content with letting Congress make only small tax cuts targeted to small groups. If there is to be more than rhetorical lip-service paid to the phrase "doing the business of the people," then Congress should act immediately to scrap the Internal Revenue Service, scrap the current tax code, and replace it with something much simpler. business Going from bad to worse 17 May 1999    Texas Straight Talk 17 May 1999 verse 8 ... Cached Now, though, Congress is stepping in to federalize contract and liability law. The process began in earnest just recently as the House took up legislation to limit the liability of corporations and government resulting from potential "y2k" computer glitch problems. While the government has worked hard to downplay the potential problems with "y2k," the House has dashed madly forward with this legislation to shield businesses against lawsuits resulting from their failing to adequately resolve their own "y2k" problems. business Going from bad to worse 17 May 1999    Texas Straight Talk 17 May 1999 verse 11 ... Cached Finally, and perhaps most persuasively, is the argument from personal interest. Say your local power company has known (like the rest of us) for some three or more years of the potential problems arising from the date-reading conflict in computers, yet did nothing or very little to correct the problem. Come the stroke of midnight leading into January 1, if power goes out at home it becomes an inconvenience, as for a hospital or business. But if the company was truly incompetent, and the outage lasts into days, or weeks, as they try to manage the situation, the outage becomes costly, disastrous and potentially dangerous. Hospital generators last only so long, small businesses can stand to be closed for only a short period, and children desperately need a warm house. business Post Office stamps out privacy 24 May 1999    Texas Straight Talk 24 May 1999 verse 8 ... Cached It should not escape notice that the Postal Service, under the Privacy Act of 1974, is prohibited from doing this itself. How ironic, and outrageous, that the Post office is mandating a private business do what Congress has explicitly forbidden the Post Office from doing. business Post Office stamps out privacy 24 May 1999    Texas Straight Talk 24 May 1999 verse 12 ... Cached Of course, this regulation also raises the operating cost on the Post Office’s private competitors for private mailbox services. Some who have examined this bill estimate it could impose costs as high as $1 billion on these small businesses during the initial six-month compliance period. The long-term cost of this rule is incalculable, but will no doubt force some of these businesses into bankruptcy. business Free trade makes sense 07 June 1999    Texas Straight Talk 07 June 1999 verse 13 ... Cached It is indisputable that individuals know better how to provide for their families than government. It is also indisputable that a company is better equipped to know what its market will tolerate than a bureaucrat in Washington. In this way, a person is able to determine what goods best meet their individual needs, weighing numerous factors in their decision. But when government intervenes, it no longer becomes possible for an individual to provide for their family and business in the most expedient fashion. This is the antithesis of liberty. business Free trade makes sense 07 June 1999    Texas Straight Talk 07 June 1999 verse 16 ... Cached The correct solution to this seeming quagmire is one which few in (or for that matter, outside) Washington will promote. The US government should immediately end all taxpayer subsidization of China, including funds funneled through the Export-Import Bank and the World Bank. Congress should immediately require that when the government enters into contracts with companies to develop and manufacture goods critical to our national security, those companies agree to do no business with China. business Campaign reform misses target 12 July 1999    Texas Straight Talk 12 July 1999 verse 6 ... Cached There is a tremendous incentive for every special interest group to influence government. Every individual, bank or corporation that does business with government invests plenty in influencing government. Corporate lobbyists spend over $100 million per month trying to influence Congress, while taxpayers' dollars are used by bureaucrats in efforts to convince Congress to protect their "empires." Government has tremendous influence over the economy and financial markets through interest rate controls, contracts, regulations, loans and grants. Corporations and individuals alike are forced to participate in an out-of-control system essentially as a matter of self-defense. business Restricting the Executive Orders 02 August 1999    Texas Straight Talk 02 August 1999 verse 12 ... Cached Finally, and perhaps most significantly, my legislation grants legal standing to individual Members of Congress and Senators, state officials and, of course, private citizens who believe a president's Executive Order has overstepped constitutional bounds and negatively impacted them, their rights, their property or their business. business Legalized theft 09 August 1999    Texas Straight Talk 09 August 1999 verse 8 ... Cached If a businessman comes to a rational person and says, "I want to expand into a new territory, but the downside is that it is an area that is fraught with civil unrest, is economically unsound, the workforce is untrained and we probably won't make a profit." The prudent investor would obviously not take the risk. business Legalized theft 09 August 1999    Texas Straight Talk 09 August 1999 verse 9 ... Cached But under our current system, that same businessman can make his move with the knowledge that the taxpayers of the United States will bail him out. This bailout comes from several different mechanisms, like the Export-Import Bank and the Overseas Private Investment Corporation. This absurdity that passes for policy is made all the more disgusting when one recognizes that working families, struggling to make ends meet, are being held liable for business decisions that the wealthiest of private investors would likely not cover. business Legalized theft 09 August 1999    Texas Straight Talk 09 August 1999 verse 13 ... Cached Several weeks ago we engaged in the annual debate over the level of free trade our citizens could have with China. I always take the position that one should have free markets and allow Americans to trade with whomever they please, but at the same time taxpayers shouldn't be forced to subsidize foreign governments. The crowd I cannot understand is the one that argues against free trade yet supports subsidizing China and other brutal regimes around the world. That is the other half of what we do with OPIC, the Export-Import Bank and other international managed-trade organizations. By propping up the corporations that move to China, not only are we subsidizing bad business decisions, but also using tax dollars to shore up China's economy without their having to feel the pressure of the free market to change their ways. business A flood of bills of rights 16 August 1999    Texas Straight Talk 16 August 1999 verse 7 ... Cached Without fail, these new "Bill of Rights" programs are not just cute ploys to garner attention, they strike at the core of what is wrong with the way so many in Congress go about their business. One has to raise the question: What's wrong with the existing Bill of Rights, those original Ten Amendments to the Constitution, that a new one must be created to assuage every group, complaint or situation? business 'Say no to high taxes and spending' 27 September 1999    Texas Straight Talk 27 September 1999 verse 5 ... Cached The president would have us believe the small businessman in Victoria is simply a statistical aberration, that his daily worries about paying ever-increasing taxes is a sign of his greed. The single mom in Hays County may have trouble making ends meet, but the president assures us it is not related to the large chunk of her paycheck gobbled up by withholding taxes. business Confused priorities 04 October 1999    Texas Straight Talk 04 October 1999 verse 4 ... Cached Just two weeks ago the president vetoed a modest tax-cut provision that would have been most helpful to small business owners, farmers and middle-income Americans. In vetoing the measure, the president said it was simply too large a tax cut, that the government couldn't afford to "give-up" that money. This week we found out what he wanted done with that money: spend it, but not in America. business Best medicine is liberty 18 October 1999    Texas Straight Talk 18 October 1999 verse 14 ... Cached The most important thing Congress can do is to stop practicing medicine and allow market forces to operate by allowing Medical Savings Accounts (MSAs) for everyone. Patient motivation to save and shop would be a major force in reducing cost, as physicians would once again negotiate fees with patients. MSAs would help satisfy the American's people's desire to control their own health care and provide incentives for consumers to take more responsibility for their care. MSAs will also allow those consumers to do business with insurance provider of their choice, who will cover the needs and procedures for which that family is willing and able to pay. business In search of a cause 25 October 1999    Texas Straight Talk 25 October 1999 verse 5 ... Cached Such was the case last week when the Republican-controlled House of Representatives -- which has yet to pass a meaningful tax cut, reduce the number of regulations endured by small businesses and farmers, or even slow the growth of federal spending -- passed legislation purporting to end the "depiction of animal cruelty." Of course, animal cruelty is a serious issue, and one that speaks volumes about the morality of an individual and culture. business Time to Change Priorities 08 November 1999    Texas Straight Talk 08 November 1999 verse 10 ... Cached What we must do is return our government to its rightful and constitutional functions, and the best way to begin that process is to end involvement in multilateral organizations that extend our commitments far and wide. We have no business making commitments to foreign governments while we are breaking trust with our own nation's senior citizens, military veterans, and taxpayers in general. business Floor Votes Reviewed 06 December 1999    Texas Straight Talk 06 December 1999 verse 8 ... Cached My final amendment voted upon this year involved ending the further funding of agencies such as the Export-Import Bank and the Overseas Private Investment Corporation, or "OPIC." These agencies take our hard earned tax dollars and send them, in the form of grants and subsidized loans, to companies doing business in other nations. This massive corporate welfare scheme is often portrayed as having some benefit to US citizens, but let's face it - only the very wealthy and very influential corporate and Wall Street interests truly benefit from such financial shenanigans. business International Protectionism 13 December 1999    Texas Straight Talk 13 December 1999 verse 6 ... Cached As a representative of the people of the 14th district of Texas and a member of the United States Congress, sworn to uphold the Constitution of this country, it is not my business to tell other countries whether or not they should be in the WTO. They can toss their own sovereignty out the window if that is the choice they make. Thus, I cannot tell China or Britain or anybody else that they should not join the WTO. That is not my constitutional role. I can, however, say that the United States of America ought to withdraw its membership and funding from the WTO immediately. business Cosponsored Bills 20 December 1999    Texas Straight Talk 20 December 1999 verse 6 ... Cached Four bills that I cosponsored this year have actually passed through the House. Two of them were "Sense of Congress" resolutions. One of these expressed the opinion that no federal funds should go to the sacrilegious displays at the Brooklyn Museum of Art, and the other one stated that prayers and invocations at public school sporting events ought to be considered constitutional. This latter issue has been very important in Texas where a federal court ruled that prayer before a school football game was unconstitutional. The founding fathers would turn over in their graves if they knew that the constitution they gave us was interpreted by liberal judges as prohibiting a prayer at a local high school. This travesty must not stand, and the real solution, of course, is for the federal courts to keep their noses out of the business of local school districts. business Greenspan Nominated to a Fourth Term 17 January 2000    Texas Straight Talk 17 January 2000 verse 14 ... Cached Alan Greenspan was at one time a free market adherent and gold standard advocate. Read what he had to say about the Federal Reserve Board policy of the 1920s and the subsequent depression. The experts in the 20s had also declared a New Era economic growth without price inflation resulting from technological advances and wise monetary management. Greenspan explains: "The excess credit which the Fed pumped into the economy spilled over into the stock market, triggering a fantastic speculative boom. Belatedly, Federal Reserve officials attempted to sop up the excess reserves and finally succeeded in braking the boom. But it was too late. By 1929 the speculative imbalances had become so overwhelming that the attempt precipitated a sharp retrenching and a constant demoralizing of business confidence." (Gold and Economic Freedom, 1966) business Parental Control Key to Education Reform 24 January 2000    Texas Straight Talk 24 January 2000 verse 4 ... Cached A recent Investor's Business Daily story told of parents across the nation who have become so frustrated with their lack of control over their children's education that they are taking school administrators to court! For example, parents in Plano, Texas are challenging the school district's intention to use textbooks relying on "connected math." These parents want their children taught traditional math, not the education establishment's latest fad. In a similar case, a mother in Fort Zumwalt, Missouri is suing the school district for not offering her autistic son the education program that she believes will enable him to reach his full potential. business Repeal Earnings Limitation 21 February 2000    Texas Straight Talk 21 February 2000 verse 4 ... Cached During a time when an increasing number of senior citizens are able to enjoy productive lives well past retirement age and businesses are in desperate need of experienced workers, it makes no sense to punish seniors for working. Yet the federal government does just that through Social Security "earnings limitations." Earnings limitations deduct a portion of seniors' monthly Social Security check should they continue to work and earn income above an arbitrary government-set limit. By providing a disincentive for seniors to remain in the workplace, this restriction damages the economy and punishes individuals for seeking gainful employment. It is simply un-American that the federal government would punish someone for continuing to contribute to the economy by reducing benefits that person has already paid for and been promised by Congress. business How Americans are Subsidizing Organized Crime in Russia 06 March 2000    Texas Straight Talk 06 March 2000 verse 8 ... Cached If our government and political leaders had any "intelligence" this plan would be squelched. It can lead to no good and in all probability will backfire. What do we do if the FBI office is bombed and Americans are killed? We have no business there, and this is a dangerous precedent to set. business The World Trade Organization 20 March 2000    Texas Straight Talk 20 March 2000 verse 9 ... Cached The most blatant example of the World Trade Organization undermining US sovereignty was the recent ruling rejecting US tax breaks to US companies doing business overseas. The European Union charged that the Foreign Sales Corporation program established in 1984 is now an "illegal subsidy," and the WTO appellate panel supported this position. Despite the fact that the US unfairly taxes corporations for profits earned overseas, unlike our foreign competitors, this program was meant to compensate to some degree for this unfairness built into our tax code. Nevertheless the WTO, in a ridiculous ruling, claimed that allowing a company to keep more of its own money through lower taxes is a "subsidy" -- something given at the behest of government. business Time To Get Serious With Big Government 17 April 2000    Texas Straight Talk 17 April 2000 verse 10 ... Cached The big problem is that, as people continue to fight battles on the edges, and work exclusively with those people with whom they have long-term ties. Our nation's sovereignty continues to be eroded by internationalists who have no gumption about the niceties of what organizations they need to work with in order to advance their agenda, much less any concern about those who are injured as a result of their successful promotion of that agenda. Those of us who realize that these international organizations are the crux of the problem must begin immediately to focus our attention on the central issue, namely putting these institutions out of business. We must also understand that to be effective we need to have large coalition of people dedicated to peaceful and lawful methods who will work together to combat the considerable interests stacked up against us. business CARA: Environmental Protection or Destruction? 05 June 2000    Texas Straight Talk 05 June 2000 verse 3 ... Cached When the House of Representatives recently passed the "Conservation and Reinvestment Act", better known as CARA, it took a big step in the wrong direction. This legislation allows the federal government to get further involved in the real estate business by owning more property. business CARA: Environmental Protection or Destruction? 05 June 2000    Texas Straight Talk 05 June 2000 verse 8 ... Cached CARA not only necessitates the creation of a trust fund to engage in activities which are not authorized by the Constitution, it also promises to have a negative impact on property rights in general and on the environment Congress is claiming to protect. If we are truly interested in providing better land management and environmental stewardship, we should get the federal government out of the land management business. As the recent uncontrolled burns of Los Alamos show, there is literally no end to the possible ways the federal government can mismanage environmentally sensitive lands. business Repeal of Un-American "Death Tax" Passes House 12 June 2000    Texas Straight Talk 12 June 2000 verse 6 ... Cached The entire concept of the death tax is not only destructive to families, but is also extremely harmful to the economy. It gives people less incentive to save and more incentive to spend because of the relatively high rate at which estates are taxed. Thus, it results in a disincentive to parents to leave their children a family business, family farm or their savings. A recent study from George Mason University found that within eight years of eliminating the death tax, the gross domestic product would be $80 billion larger than expected, resulting in 250,000 new jobs. business Repeal of Un-American "Death Tax" Passes House 12 June 2000    Texas Straight Talk 12 June 2000 verse 8 ... Cached In a word, the death tax is simply un-American. People should not be punished for working hard their entire lives, creating jobs and wealth for others, and then trying to leave some of it so their children can have better lives. I applaud the members of the House who had the courage to cast the historic vote today to repeal the death tax. Now, I call on the members of the Senate and the President to support this legislation. The time has come to create a government that is supportive, not oppressive to the small business owner and the family farmer. If we put our faith in the American people, instead of the government, we will increase individual savings, promote job creation and, most importantly, support the family structure. business A Big Win for Medical Privacy in Congress 19 June 2000    Texas Straight Talk 19 June 2000 verse 6 ... Cached Millions of Americans are outraged over the increasing trend toward national ID cards, especially in light of the fact that the Social Security card has become mandatory in order to do business. In reality, the Social Security number has been transformed from an administrative device used to administer the Social Security program into a de facto national ID number. Today, most Americans cannot get a job, get married, open a bank account, or even get a fishing license without their Social Security numbers. Congress has been all too eager to expand the use of the Social Security number as a uniform identifier. This anger towards Washington would increase exponentially if Americans were informed that their doctors would not treat them until they produce their national health IDs. business A Big Win for Medical Privacy in Congress 19 June 2000    Texas Straight Talk 19 June 2000 verse 7 ... Cached No private organization has the power to abuse personal liberty on a massive scale as can the federal government. After all, consumers have the right to refuse to do business with any private entity that asks for a Social Security number, whereas citizens cannot lawfully refuse to deal with many government agencies. Furthermore, most of the major invasions of privacy, from the abuse of IRS files to the abuse of the FBI by administrations of both parties, have occurred by government agents. I can only imagine the havoc they could wreak if they were allowed to access an individual's medical records. business EPA Regulations Threaten Texas 26 June 2000    Texas Straight Talk 26 June 2000 verse 6 ... Cached The people of the 14th District are directly affected by EPA actions. Areas in Brazoria and Victoria counties face possible "non-attainment" designation and the resulting loss of transportation funds. Local governments and agriculture face another key battle with the EPA over "non-point source" pollution standards, which could force farmers to obtain federal permits and have "waste management plans" approved by regulators. The threat to the local economy is obvious, as the costs of complying with onerous regulations will send business and jobs elsewhere. While air and water quality standards are a legitimate concern, the state of Texas should make its own decisions without oversight from Washington. business True Free Trade Benefits Texas Farmers 03 July 2000    Texas Straight Talk 03 July 2000 verse 3 ... Cached Tuesday evening, House lawmakers reached a compromise agreement that will permit U.S. exports of food and medicine to Cuba for the first time in nearly 40 years. This partial repeal of the trade embargo was proposed by Representative George Nethercutt of Washington State,who has joined me in working to open trade with Cuba. The agreement allows U.S. businesses to sell food or medicine to Cuba, while prohibiting the federal government from financing or otherwise subsidizing such sales. The agreement also prohibits the President from imposing further restrictions on food or medicine sales to other countries without congressional approval. I applaud this compromise as a good step in the direction of true free trade- it allows more trade, while prohibiting government subsidization of trade. business True Free Trade Benefits Texas Farmers 03 July 2000    Texas Straight Talk 03 July 2000 verse 6 ... Cached "Still, farmers in the 14th District would benefit from access to this new market (as well as access to four other countries named in the agreement). Trade advisory groups estimate that U.S. exports of food to Cuba alone could amount to $400 million within five years. The American Farm Bureau estimates that the aggregate market for agricultural commodities to all five countries amounts to $7 billion. Rather than punishing our farmers with sanctions, we should be eliminating barriers so that they can export agricultural products to these countries. Sanctions simply benefit our export competitors, who have increased their sales in markets closed to American businesses. Over one-third of U.S. agricultural production is exported, so farmers suffer disproportionately when trade restrictions are imposed. business Last-Minute Supplemental Spending is Dangerous and Unnecessary 10 July 2000    Texas Straight Talk 10 July 2000 verse 4 ... Cached Recently, House members approved a fiscal year 2001 Military Construction appropriations bill that also contained an emergency supplemental spending package for fiscal year 2000. The bill provides a total of $20 billion in new federal spending, $11.2 billion of which is supplemental spending for fiscal year 2000. I voted against this massive new spending. Congress should be required to adhere to its existing fiscal year budget, just as families and businesses must operate within their own budgets. business Right to Privacy Too Often Overlooked 14 August 2000    Texas Straight Talk 14 August 2000 verse 5 ... Cached For example, in 1998 over 200 members of Congress voted to allow states to force citizens to produce a Social Security number before they could exercise their right to vote. Also, day-to-day private business dealings are becoming increasingly difficult without a Social Security number. You cannot open a bank account, get married, or even obtain a fishing license without disclosing your Social Security number. My bill will restore privacy to Americans who currently are being abused by overreaching government. business Help for Those with Terminal Illnesses 21 August 2000    Texas Straight Talk 21 August 2000 verse 7 ... Cached Similarly, I have introduced legislation designed to provide needed resources to parents struggling to pay for their terminally ill or disabled children’s medical bills. The "Family Health Tax Cut Act" (H.R. 4799) allows families to deduct a portion of their health care expenses for dependent children. Specifically, the Act provides parents caring for a child with a disability, cancer, terminal illness, or other condition requiring specialized medical care with a tax credit of up to $3,000. Our tax laws permit businesses to deduct employee health care costs from their income taxes; surely families should be permitted the same deduction to free up more of their financial resources to pay for the medical bills of their seriously ill children. The deduction is especially critical to low-income families, many of whom do not have health insurance provided by their employers. business Congress Must Work for Seniors 18 September 2000    Texas Straight Talk 18 September 2000 verse 8 ... Cached Finally, Congress must support seniors by eliminating the death tax. Although this tax accounts for only a tiny portion of federal revenues (about 1.5%), it has a devastating impact on many seniors and their families. When Congress ends the death tax, seniors no longer will worry about losing their farms, small businesses, and savings to the government. business Spending, Tax Cuts, or Debt Reduction? 25 September 2000    Texas Straight Talk 25 September 2000 verse 6 ... Cached First and foremost, we cannot forget that our nation remains nearly $6 trillion in debt. This debt is the result of one very simple but enormous problem: over the years, Congress has spent more than the Treasury has collected in taxes. Note that Congress, rather than any particular administration, is responsible for creating this debt. Congress alone determines how much is spent when it passes appropriations bills each year. When Congress spends more than it has, it must (like any family or business) borrow money. Eventually we all pay for this fiscal irresponsibility, as more and more of the government's annual budget is spent on interest payments. Even worse, this debt has caused the Federal Reserve to authorize the printing of more and more money during past decades, creating price inflation and making your dollars worth less. business Real Tax Reform Still Needed for Texas Families 16 October 2000    Texas Straight Talk 16 October 2000 verse 7 ... Cached We also must eliminate the very harmful estate tax, and end the terrible practice of imposing a tax on families when a loved one dies. This tax penalizes thrift and savings, denying Americans the right to pass their property to their children. Despite the Washington rhetoric, the estate tax does not apply only to the rich. In fact, it forces the sale of many small family businesses when heirs cannot pay the estate tax bill. Worst of all, the estate tax is imposed on savings and capital that already have been taxed. The estate tax simply takes money away from families and puts it in the hands of the government. There is no moral or economic justification for estate taxes, and I co-sponsored legislation and voted twice to repeal the tax. business Real Tax Reform Still Needed for Texas Families 16 October 2000    Texas Straight Talk 16 October 2000 verse 9 ... Cached Various other taxes also must be eliminated. Capital gains taxes are terribly counterproductive, punishing those who save and invest. Payroll taxes impose a tremendous compliance burden on businesses, especially smaller entrepreneurs who cannot hire an accounting department. Federal gas taxes should be slashed to provide taxpayers relief at the pump. Most importantly, federal spending must be dramatically reduced so that all Americans can go back to working for themselves instead of working to pay their taxes. business Government Poses the Greatest Threat to our Privacy 23 October 2000    Texas Straight Talk 23 October 2000 verse 8 ... Cached I introduced the "Freedom and Privacy Restoration Act" (H.R.220) to immediately bring an end to governmental abuse of our Social Security numbers. This legislation simply prohibits the federal or state governments from using your Social Security number for any purpose not directly related to the Social Security administration. Quite simply, your number is your private business, and this legislation is badly needed to restore promised confidentiality. The IRS should not know your private number, and certainly your local motor vehicles department has no business asking for it. business Government Poses the Greatest Threat to our Privacy 23 October 2000    Texas Straight Talk 23 October 2000 verse 10 ... Cached The administration and federal bureaucrats will continue to look for ways to increase government monitoring of citizens. Recently, the administration proposed and fought to enact legislation creating a "uniform standard health identifier," clearly as part of a larger plan to create a national medical system. As a physician and privacy advocate, I know how dangerous a federal medical ID would be. The sanctity of the doctor-patient relationship would be destroyed if the patient knew his or her medical problems would be entered into a federal database. The government has no business knowing your medical history. Virtually all Americans agree with me, because public support for my opposition to the medical ID proposal was overwhelming. Ultimately, the medical ID plan was eliminated by my amendment to a larger bill. business U.S. Congress Bows to WTO Mandate 30 October 2000    Texas Straight Talk 30 October 2000 verse 9 ... Cached We should never change our national laws at the behest of any international organization. Congress simply has ceded its legislative authority to the WTO, and it is shameful that this action likely will go unnoticed by the American people. If we want to help American businesses, we should simply stop taxing their foreign income. The FSC measure will not appease the Europeans; the EU already has indicated that the changes are unsatisfactory to them. We stand on the brink of a retaliatory trade war with the EU, even though we were told that the WTO was needed to avoid such conflicts. So the WTO has given us the worst of all worlds. business A Legislative Agenda for 2001 01 January 2001    Texas Straight Talk 01 January 2001 verse 3 ... Cached Spending reform should be the foremost priority for the new Congress. The fiscal year 2001 budget is bloated with billions of dollars in unnecessary and counterproductive spending. The Clinton administration successfully pushed through spending increases far beyond those of the previous year. Several federal agencies and bureaucracies received even more in funding than originally requested in the Clinton budget. Dangerous foreign aid spending also grew, sending more of your tax dollars overseas and intensifying conflicts in trouble spots like Colombia, Kosovo, and the Middle East. Despite rosy predictions about the federal "surplus," the truth is that Congress cannot continue to increase spending each year and expect tax revenues to keep pace. Deficit spending and tax increases will be the inevitable consequences. No reasonable person can argue that our current $2 trillion budget does not contain huge amounts of special interest spending that can and should be cut by Congress. Government spending not only affects our fiscal health as a nation; it also determines the size and scope of government power over our lives. Congress must show the resolve needed to challenge business as usual in Washington and dramatically cut spending. business Turn Out the Lights 15 January 2001    Texas Straight Talk 15 January 2001 verse 5 ... Cached As frightening as this development may be to Americans who believe in free markets, it was not unexpected. California has faced severe energy shortages for more than a year. Residents and businesses in the state have seen dramatic increases in their monthly electric bills, with some paying 200% more than a year ago. Shortages and blackouts are threatened. In response to this crisis, California Governor Gray Davis has become an increasingly vocal proponent of an outright socialist energy system for the nation's largest state. He decided (not surprisingly) to go to the Feds for help, resulting in the meeting with Energy secretary Bill Richardson and Treasury secretary Larry Summers, among others. business Turn Out the Lights 15 January 2001    Texas Straight Talk 15 January 2001 verse 6 ... Cached California's woes are due in part to its tremendous population growth over the past decade. The influx of residents and businesses, particularly energy-intensive tech businesses, has greatly increased demand for electricity. The problem is that the California government has not allowed the construction of new power plants, in large part because of "environmentalists," citizens groups, and regulators hostile to property rights. The blatantly obvious result of high demand coupled with artificially low supply must be: high prices. Had the free market been allowed to operate, profit-seeking utility companies would have built new power plants to meet the demand and the situation would be very different today. business Turn Out the Lights 15 January 2001    Texas Straight Talk 15 January 2001 verse 8 ... Cached Price controls will never work, because the laws of economics cannot be fooled. Price controls always result in shortages, because no rational business wants to produce something to sell at below-market rates. The California utility companies, which already are forced to sell to consumers at state-mandated prices, cannot do so forever. Their costs have increased dramatically; if they cannot raise prices they will be bankrupt. Utility companies outside the state simply refuse to sell to California because they can sell their power for a higher price elsewhere. This is why Governor Davis sought the meeting with Energy secretary Richardson. He wants the Feds to force utility companies in other states to sell energy to California. Unfortunately for Davis and Richardson, there are no laws (yet) forcing companies to stay in business forever while the government destroys them. business Faith-Based Initiative Plan Poses Risks to Religious Organizations 05 February 2001    Texas Straight Talk 05 February 2001 verse 7 ... Cached The better approach is to abide by constitutional strictures and get the federal government completely out of the business of providing social services. Private charities and religious organizations will flourish in this country if we simply get government out of the way. First and foremost, we must exempt such organizations from regulations which constantly thwart their efforts. Second, we must endorse the proposal by President Bush to allow all Americans a deduction for charitable contributions, regardless of whether they itemize deductions or not. The majority of taxpayers apply the standard deduction, and they should enjoy a tax benefit for giving to charity even in small amounts. We should allow a 100% deduction for all contributions, regardless of whether to a standard charity, a charitable foundation or trust, or a religious organization. Finally, we must massively reduce government spending, so that income taxes can be lowered drastically. Americans are charitable by nature, but they rightfully resent losing nearly half their incomes to various levels of government. American charities would see huge increases in their budgets for providing social services if taxes were reduced to sane levels. business "Buy American," Unless... 12 February 2001    Texas Straight Talk 12 February 2001 verse 5 ... Cached Conflicting and inconsistent views on trade policy result largely from a lack of understanding of basic economic principles. Free trade is not a zero-sum game where some countries benefit and others inevitably suffer. On the contrary, true free trade by definition benefits both parties. Free trade is the process of free people engaging in market activity without government interference such as tariffs or managed-trade agreements. In a true free market, individuals and companies do business voluntarily, which means they believe they will be better off as a result of a transaction. Tariffs, taxes, and duties upset the balance, because governments add costs to the calculation which make doing business less attractive. Similarly, so-called managed trade agreements like WTO favor certain business interests and trading nations over others, which reduces the mutual benefit inherent in true free trade. business "Buy American," Unless... 12 February 2001    Texas Straight Talk 12 February 2001 verse 6 ... Cached The ultimate result of our embargo policies is obvious: when our government prevents American companies from selling their goods abroad, it creates an economic hardship for those companies and their employees. Similarly, when the government prevents American consumers from buying the goods or services they want from certain countries, it simply diminishes the living standards of those Americans. Washington intervention in international trade only benefits certain special interests for a short time. In the long run, the vast majority of American citizens and businesses would benefit from unfettered access to all foreign markets. An example is the relatively unregulated software industry, where American companies absolutely dominate the global marketplace. Americans don't need help competing, but they do need a government which does not hinder their access to foreign markets. By following the current policy of government-managed trade and special interest favoritism, Congress is harming the constituents it was elected to represent. The sooner we adopt policies which promote free exchange with all nations, the better off our nation and its people will be. business Bush Tax Plan Only One Piece of the Tax Cut Puzzle 12 March 2001    Texas Straight Talk 12 March 2001 verse 6 ... Cached Along with reducing tax rates, we must rid ourselves of the estate tax and end the terrible practice of imposing a tax on families when a loved one dies. This tax penalizes thrift and savings, denying Americans the right to pass their property to their children. It forces the sale of many small family businesses when heirs cannot pay the estate tax bill. The estate tax simply takes money away from families and puts it in the hands of the government. There is no moral or economic justification for estate taxes and they must be eliminated. business Economic Woes and the Federal Reserve 19 March 2001    Texas Straight Talk 19 March 2001 verse 7 ... Cached The Federal Reserve did two things to artificially expand the economy over the last decade. First, it relentlessly lowered interest rates whenever growth slowed. Interest rates should be set by the free market, with the availability of capital (i.e. savings) determining the cost of borrowing money. In a healthy market economy, more saving equals lower interest rates. When savings rates are low, capital dries up and the cost of borrowing increases. When interest rates are set by the market, individuals and businesses make good spending decisions, because they pay an accurate interest rate for their debts. However, when the Fed set rates artificially low, the cost of borrowing becomes cheap. Individuals incur greater amounts of debt (evidenced by the record number of personal bankruptcies), while businesses overextend themselves and grow without real gains in productivity. The bubble bursts quickly once the credit dries up and the bills cannot be paid. business The Fight for Medical Privacy Continues in Washington 26 March 2001    Texas Straight Talk 26 March 2001 verse 8 ... Cached I recently introduced legislation to halt implementation of the new HHS rules. The federal government has no business knowing your private medical history. Don't believe the bureaucrats who tell us they have innocent reasons for wanting our medical records. The truth is that the federal government wants to eliminate your medical privacy, just as it has eliminated so many of your liberties. business Respect for Life begins with Respect for the Constitutional Rule of Law 30 April 2001    Texas Straight Talk 30 April 2001 verse 5 ... Cached Worse yet, the Act serves to legitimize and further entrench the Roe v. Wade decision. Like Roe, the Act federalizes law which the Constitution properly leaves to the states. Constitutionally, virtually all crimes are state matters. The only true federal crimes are those listed in Article I (treason, piracy, and counterfeiting); all other crimes are left to the jurisdiction of the states under the 10th Amendment. Yet Congress finds it much easier to federalize every human evil rather than uphold the Constitution and respect states' rights. Impassioned pro-life Americans might want a federal criminal law protecting fetuses, but in truth the federal government is more likely to pass laws favoring abortion rather than outlawing it. Once we allow federal control over abortion, we lose the opportunity for states to enact pro-life legislation. Numerous states already have laws that punish the act of murder against a fetus. Our focus should be on overturning Roe and getting the federal government completely out of the business of regulating state matters. All abortion foes must understand that the real battle should be fought at the state level, where grassroots respect for life can influence state legislatures. business The Case Against the Income Tax 07 May 2001    Texas Straight Talk 07 May 2001 verse 5 ... Cached The harmful effects of the income tax are obvious. First and foremost, it has enabled government to expand far beyond its proper constitutional limits, regulating virtually every aspect of our lives. It has given government a claim on our lives and work, destroying our privacy in the process. It takes billions of dollars out of the legitimate private economy, with most Americans giving more than a third of everything they make to the federal government. This economic drain destroys jobs and penalizes productive behavior. The ridiculous complexity of the tax laws makes compliance a nightmare for both individuals and businesses. All things considered, our Founders would be dismayed by the income tax mess and the tragic loss of liberty which results. business Religious Liberty Thwarted by the Supreme Court 04 June 2001    Texas Straight Talk 04 June 2001 verse 6 ... Cached The Supreme Court also has ignored the obvious point that the amendment applies only to Congress, and not to the states. This means that while the federal government cannot pass laws restricting religion or use federal funds to give preference to one religion over another, state and local governments retain the right under the 10th Amendment to set their own policies regarding religious expression. The Elkhart case is a classic example of the courts ignoring this fundamental distinction between federal and local action. Bluntly, the use of Elkhart city government property is none of the federal government's business. Yet respect for state rights and enumerated powers, not to mention the property rights of the citizens of Elkhart, is nonexistent in our federal courts. The unchallenged assumption is that the federal courts have jurisdiction over all religious matters. business The Bush Tax Cut 11 June 2001    Texas Straight Talk 11 June 2001 verse 5 ... Cached Individual income tax rates will be reduced slightly over the next five years. The new rate structure eventually will be 10%, 15%, 25%, 28%, 33%, and 35%. These rate reductions are very important and should be much larger. Despite the dishonest rhetoric about the benefits of the tax bill going only to the rich, the truth is that high rates for the wealthiest taxpayers leave those individuals with less money to spend and invest. The tax surplus (the result of overtaxing) makes the current economic slowdown much worse, because billions of potential investment dollars are tied up in Treasury coffers. Marginal rate reductions are needed to spur investment and economic activity, but the new rates should have been made retroactive to immediately jump-start our nation's struggling businesses. business Free Trade Means No Tariffs and No Subsidies 30 July 2001    Texas Straight Talk 30 July 2001 verse 4 ... Cached I focus on the Constitution when voting on trade issues. This approach leads me to always oppose trade subsidies, as there is no enumerated power that gives Congress authority to send your money abroad to help big corporations sell their products. The current system allows the most powerful interests, with the largest political lobbies, to prevail in the Congressional pork subsidy game. So the biggest corporations tend to get bigger, while smaller competitors face a very uneven playing field. This is not free trade, but rather government-mangaged trade epitomized by international bodies like NAFTA and the WTO. As noted Austrian economist Murray Rothbard explained, we don't need government agreements to have free trade. In fact, true free trade means just the opposite- true free trade occurs only when government is not involved at all. We must remember that government-managed trade always means political favoritism. Merit, rather than politics, should determine which companies succeed in the export markets. Congress should abide by the Constitution and get out of the subsidy business altogether, so that real free trade can work and benefit all Americans. business Legislation Needed to End the IRS Threat to Religious Freedom 13 August 2001    Texas Straight Talk 13 August 2001 verse 3 ... Cached Are the political beliefs of churchgoers the business of the IRS? Not according to North Carolina Congressman Walter Jones, who recently introduced legislation that addresses the very serious issue of IRS harassment of churches that engage in conservative political activity. Specifically, the bill changes the tax code to clarify that no church or religious organization will lose its tax-exempt status because it participates in political campaigns or works to influence legislation. This bill is badly needed to end the IRS practice of threatening certain politically disfavored faiths with loss of their tax-exempt status, while ignoring the very open and public political activities of other churches. While some well-known leftist preachers routinely advocate socialism from the pulpit, many conservative Christian and Jewish congregations cannot present their political beliefs without risking scrutiny from the tax collector. The "Houses of Worship Political Speech Protection Act" (HR 2357) will end this political favoritism and government interference with free speech. I'm pleased to report that the Act already has been sponsored by more that 50 members of Congress. business The Fed Cannot Create Prosperity 03 September 2001    Texas Straight Talk 03 September 2001 verse 7 ... Cached The truth is that the good times may be coming to an end. The Fed, far from being our savior, is actually the cause of the current economic troubles. The Fed's easy credit policies flooded the economy with cheap money over the last decade, but the bills are coming due. With lots of artificial investment capital in the marketplace, businesses and individuals spent with less discipline and incurred more debt. The stock market became wildly overvalued, with many companies trading at outrageous prices. We should expect both personal and business bankruptcies to continue to climb as the bubble bursts. business What Should Government Do for the Airlines? 24 September 2001    Texas Straight Talk 24 September 2001 verse 4 ... Cached The airline business was not doing well even prior to the attacks. The slowing economy caused a big drop in business travel compared to recent years, while labor disputes and rising fuel costs have further reduced profits. The industry perhaps had too much capacity; takeovers and bankruptcies were likely among some carriers regardless of the recent disasters. As a strong advocate of free-market capitalism, I would never support government subsidies or bailouts for any industry simply because its companies could not survive in the marketplace. business What Should Government Do for the Airlines? 24 September 2001    Texas Straight Talk 24 September 2001 verse 7 ... Cached I also cannot support proposed legislation that simply provides corporate welfare for the airlines at the behest of industry lobbyists. The federal government has no business insuring that massive CEO salaries remain in effect while rank-and-file employees face layoffs and loss of medical benefits. It would be outrageous for the government to give taxpayer dollars to the airlines without insisting that the money be used for basic operations and safety issues. This is no time for the government to be protecting executives at your expense. business Business as Usual in Washington? 29 October 2001    Texas Straight Talk 29 October 2001 verse 2 ... Cached Business as Usual in Washington? business Business as Usual in Washington? 29 October 2001    Texas Straight Talk 29 October 2001 verse 5 ... Cached Throughout our early history, a policy of minding our own business and avoiding entangling alliances- as George Washington admonished- was more representative of American ideals than those we have pursued for the past 50 years. We have an absolute right and duty to fight terrorist threats to our nation, but we also have a responsibility to honestly examine our history in the Middle East. business Business as Usual in Washington? 29 October 2001    Texas Straight Talk 29 October 2001 verse 11 ... Cached There is one business that clearly will not go into a slump-the Washington lobbying industry. Last year it spent $1.6 billion lobbying Congress. This year it will spend much more. The bigger the disaster, the greater the number of vultures who descend on Washington. When I see this happening, it breaks my heart, because liberty and America suffer. It's all done in the name of justice, equality, and security. business Business as Usual in Washington? 29 October 2001    Texas Straight Talk 29 October 2001 verse 12 ... Cached Emotions are running high in our nation's capital- and in politics, emotions are more powerful tools than reason and the rule of law. The use of force to serve special interests and help anyone who claims to be in need is now an acceptable practice. Constitutional restraints are seen as archaic and insensitive to people's needs. Yet far too often the claims cloaked as relief for human tragedies are nothing more than politics as usual. While one group supports bailing out the corporations, another wants to prop up wages and jobs. Envy and power drive both sides- the special interests of big business and the demands of the welfare redistribution crowd. business WTO Demands Change in U.S. Tax Laws 21 January 2002    Texas Straight Talk 21 January 2002 verse 4 ... Cached Last week, the WTO appellate panel ruled that U.S. tax rules exempting some corporate income earned overseas from taxation constitute an "illegal subsidy." Incredible as it seems to liberty-minded Americans, the WTO and the Europeans are now telling us our laws are illegal and must be changed. It's hard to imagine a more blatant example of a loss of U.S. sovereignty. Yet there is no outcry or indignation in Congress at this naked demand that we change our laws to satisfy the rest of the world. I've yet to see one national politician or media outlet even suggest the obvious, namely that our domestic laws are simply none of the world's business. business Enron: Under-Regulated or Over-Subsidized? 28 January 2002    Texas Straight Talk 28 January 2002 verse 5 ... Cached Enron provides a perfect example of the dangers of corporate subsidies. The company was (and is) one of the biggest beneficiaries of Export-Import Bank subsidies. The Ex-Im bank, a program that Congress continues to fund with your tax dollars, essentially makes risky loans to foreign governments and businesses for projects involving American companies. The Bank, which purports to help developing nations, really acts as a naked subsidy for certain politically-favored American corporations- especially corporations like Enron that lobbied hard and gave huge amounts of cash to both political parties. Its reward was more that $600 million in cash via six different Ex-Im financed projects. business Enron: Under-Regulated or Over-Subsidized? 28 January 2002    Texas Straight Talk 28 January 2002 verse 8 ... Cached The point is that Enron was intimately involved with the federal government. While most in Washington are busy devising ways to "save" investors with more government, we should be viewing the Enron mess as an argument for less government. It is precisely because government is so big and so thoroughly involved in every aspect of business that Enron felt the need to seek influence through campaign money. It is precisely because corporate welfare is so extensive that Enron cozied up to Congress and the Clinton administration. It's a game every big corporation plays in our heavily regulated economy, because they must when the government, rather than the marketplace, distributes the spoils. business Why Is There So Much Money In Politics? 04 February 2002    Texas Straight Talk 04 February 2002 verse 6 ... Cached The so-called reform legislation being proposed is clearly unconstitutional. The First amendment unquestionably grants individuals and businesses the free and unfettered right to advertise, lobby, and contribute to politicians as they choose. More importantly, the Constitution does not grant Congress the power to regulate campaigns. In fact, article II expressly authorizes the regulation of elections, so the omission of campaigns is glaring. While some in the media have raised First amendment questions, few seem to understand that Congress clearly lacks the constitutional power to regulate campaigns at all. business The Truth about Government Debt 11 March 2002    Texas Straight Talk 11 March 2002 verse 7 ... Cached Debt and credit, wisely used, can be proper tools for individuals and businesses. After all, individuals often want to expand by starting families and buying houses, while businesses want to expand by hiring more employees and increasing their capacity. In a free society, however, we can never view expansion as a proper goal for government. Unlike a private sector business, our federal government should not be seeking out new ways to increase the scope of its dubious "services." Any government that consumes 40% of the most productive economy in the world and still can't balance its books is a government that vastly overspends. A cursory examination of the annual appropriations bills reveals incredible amounts of unconstitutional, wasteful, and truly unnecessary spending. This uncontrolled spending allows government to grow far beyond its proper constitutional parameters, while also threatening the very solvency of future generations. So I disagree with the supply-side argument that government debt doesn't matter. The issue is not whether the Treasury has sufficient current income to service the debt, but rather whether a government that spends so much is leading us to ruin. Debt does matter, especially to future generations that will be asked to pay for our extravagance. business No Taxpayer Funds for Nation-Building in Afghanistan 27 May 2002    Texas Straight Talk 27 May 2002 verse 3 ... Cached Whenever I discuss the issue of foreign aid with my colleagues, I always remind them that in all my years serving in Congress, I’ve never once had a constituent ask me to send more money overseas. Most Americans instinctively understand what the Constitution makes clear: Congress has no business sending tax dollars outside the country. Yet once again Congress has ignored the Constitution, this time voting to send $1.2 billion of your tax dollars to Afghanistan- even as our own troops engage in ongoing combat with hostile Taliban forces that many Afghans still support. It’s frankly almost schizophrenic to send billions in aid to the same country that harbors some of our most virulent enemies. business Congress Spends, Future Generations Pay the Bills 03 June 2002    Texas Straight Talk 03 June 2002 verse 7 ... Cached Some Washington pundits, including many supply-side economists, claim that federal debt really does not matter. These pundits want government to use debt as a financial tool, much like a large business might. They argue that the only real issue is whether the debt can be serviced. This argument ignores a critical distinction, however: expansion is a proper goal for business, but not for government. Businesses service debt by increasing their revenues in the legitimate private economy, while government can service increasing debt only by increasing taxes or printing more money. business Congress Spends, Future Generations Pay the Bills 03 June 2002    Texas Straight Talk 03 June 2002 verse 8 ... Cached Of course debt and credit, wisely used, can be proper tools for families and businesses. Yet when government borrows money, the actual borrowers- big spending administrations and members of Congress- never have to pay the bills. Instead, they enjoy the political benefits of delivering endless unconstitutional pork programs to their constituents and special interests, while future generations of taxpayers are stuck with the bill. It is time for voters to think about their grandchildren and stop rewarding spendthrift politicians with 97% reelection rates. Debt does matter, and it’s cowardly to ask future generations to pay for our extravagance. business A Stay of Execution for the Death Tax 17 June 2002    Texas Straight Talk 17 June 2002 verse 6 ... Cached The tired argument that the estate tax only affects the rich simply false. Many of my constituents are farmers, ranchers, and small business owners. They are hardly rich, but some of them have built up valuable businesses they would like to pass on to their children. Yet when they die, their children rarely have the liquid cash needed to pay the death tax bill. Often the business must be sold or divided to raise money for the IRS. Many family farms across this country have been bought by large corporations because of the estate tax. business What does the First Amendment Really Mean? 01 July 2002    Texas Straight Talk 01 July 2002 verse 5 ... Cached It’s important to recognize that the First amendment applies only to Congress. Remember, the first sentence starts with "Congress shall make no law..." This means that matters of religious freedom and expression should be decided by the states, with disputes settled in state courts. The First amendment acts as a simple check on federal power, ensuring that the federal government has no jurisdiction or authority whatsoever over religious issues. The phony "incorporation" doctrine, dreamed up by activist judges to pervert the plain meaning of the Constitution, was used once again by a federal court to assume jurisdiction over a case that constitutionally was none of its business. business Monitor thy Neighbor 22 July 2002    Texas Straight Talk 22 July 2002 verse 3 ... Cached Now the Justice department wants to extend the new investigative powers to private citizens. It recently unveiled Operation TIPS- Terrorism Information and Prevention System- as part of President Bush’s Citizen Corps initiative. The goal is to enlist thousands or even millions of Americans to act as spies for the government, reporting suspicious activity to officials using a handy toll-free hotline. The Justice department especially hopes to enlist mailmen, delivery drivers, plumbers, gas-meter readers, and the like, as they have access to private homes and businesses in their daily work. As usual, the war on terror is offered as justification for this proposal. business Your Taxes Fund South American Bailout 12 August 2002    Texas Straight Talk 12 August 2002 verse 7 ... Cached But why should taxpayers subsidize the risky business practices of multinational lenders? The banks themselves should bear the risks of investing in unstable nations, just as surely as they enjoy the rewards when investments in foreign markets prove profitable. They want taxpayers to protect them from risk, but never share in the rewards. business Does Government Run the Economy? 19 August 2002    Texas Straight Talk 19 August 2002 verse 2 ... Cached President Bush received some criticism last week after holding an economic forum in Waco. The forum was intended to bring business and civic leaders together with the President to discuss America’s economic problems, but the press dismissed the whole affair as nothing more than a photo-op for the President with a hand-picked friendly audience. The message from the pundits was clear: the President is all talk, but we need action by the government to restore prosperity. business Does Government Run the Economy? 19 August 2002    Texas Straight Talk 19 August 2002 verse 5 ... Cached But should government run the economy in a free society? Remember, there is a simple description for government control of the economy: socialism. America, however, was founded as a capitalist country. The Constitution grants Congress exceedingly limited regulatory and tax powers, because the founders were tired of having their business affairs managed by the Crown. So they created a strictly limited government, which allowed freedom and capitalism to flourish. business Our Incoherent Foreign Policy Fuels Middle East Turmoil 02 December 2002    Texas Straight Talk 02 December 2002 verse 6 ... Cached A coherent foreign policy is based on the understanding that America is best served by not interfering in the deadly conflicts that define the Middle East. Yes, we need Middle Eastern oil, but we can reduce our need by exploring domestic sources. We should rid ourselves of the notion that we are at the mercy of the oil-producing countries- as the world’s largest oil consumer, their wealth depends on our business. We can and should remove our troops from the region quickly, before any more American lives are lost. We should stop the endless game of playing faction against faction, and recognize that buying allies doesn’t work. We should curtail the heavy militarization of the area by ending our disastrous foreign aid payments. We should stop propping up dictators and putting band-aids on festering problems. We should understand that our political and military involvement in the region creates far more problems that it solves. All Americans will benefit, both in terms of their safety and their pocketbooks, if we pursue a coherent, neutral foreign policy of non-interventionism, free trade, and self-determination in the Middle East. business Government Vaccines- Bad Policy, Bad Medicine 09 December 2002    Texas Straight Talk 09 December 2002 verse 8 ... Cached Politics and medicine don’t mix. It is simply not the business of government at any level to decide whether you choose to accept a smallpox vaccine or any other medical treatment. Yet decades of federal intervention in health care, including the impact of third-party HMOs created by federal legislation, have weakened the doctor-patient relationship. A free market system would allow doctors and patients to make their own decisions about smallpox inoculations, without the federal government hoarding, mandating, nor prohibiting the vaccine. Instead, we’re moving quickly toward the day when government controls not only what vaccines patients receive, but what kind of health care they receive at all. business What Does Regime Change in Iraq Really Mean? 16 December 2002    Texas Straight Talk 16 December 2002 verse 7 ... Cached The practical consequences of meddling in the domestic politics of foreign nations are clearly disastrous. We should remember, however, that it is also wrong in principle to interfere with the self-determination rights of foreign peoples. Consider how angry Americans become when Europeans or Mexicans merely comment on our elections, or show a decided preference for one candidate. We rightfully feel that our politics are simply none of the world’s business, yet we seem blind to the anger created when we use military force to install governments in places like Iraq. The unspoken question is this: What gives us the right to decide who governs Iraq or any other foreign country? Apparently our own loss of national sovereignty, as we surrender more and more authority to organizations like the UN and WTO, mirrors our lack of respect for the sovereignty of foreign nations. business What Really Divides Us? 23 December 2002    Texas Straight Talk 23 December 2002 verse 8 ... Cached The true antidote to racism is liberty. Liberty means having a limited, constitutional government devoted to the protection of individual rights rather than group claims. Liberty means free-market capitalism, which rewards individual achievement and competence, not skin color, gender, or ethnicity. In a free market, businesses that discriminate lose customers, goodwill, and valuable employees- while rational businesses flourish by choosing the most qualified employees and selling to all willing buyers. More importantly, in a free society every citizen gains a sense of himself as an individual, rather than developing a group or victim mentality. This leads to a sense of individual responsibility and personal pride, making skin color irrelevant. Rather than looking to government to correct what is essentially a sin of the heart, we should understand that reducing racism requires a shift from group thinking to an emphasis on individualism. business Conscription is Collectivism 13 January 2003    Texas Straight Talk 13 January 2003 verse 4 ... Cached So why is the idea of a draft even considered? One answer is that our military forces are spread far too thin, engaged in conflicts around the globe that are none of our business. With hundreds of thousands of troops already stationed in literally hundreds of foreign nations, we simply don’t have enough soldiers to invade and occupy every country we label a threat to the new American empire. Military leaders conservatively estimate that 250,000 troops will be needed to invade Iraq, while tens of thousands already occupy Afghanistan. Add another conflict to the mix- in North Korea, the Balkans, or any number of hot spots- and our military capabilities would quickly be exhausted. Some in Washington would rather draft more young bodies than rethink our role as world policeman and bring some of our troops home. business Tax Cuts and Class Wars 20 January 2003    Texas Straight Talk 20 January 2003 verse 6 ... Cached I’m in favor of cutting everybody’s taxes- rich, poor, and otherwise. Whether a tax cut reduces a single mother’s payroll taxes by forty dollars a month, or allows a wealthy business owner to save millions in capital gains, the net effect is beneficial. Both either spend, save, or invest the extra dollars, which helps all of us infinitely more than if those dollars were sent to the black hole known as the federal Treasury. The single mother desperately needs those extra dollars, and that’s why we should reduce or eliminate her payroll taxes. As for the wealthy business owner and whether he “needs” the extra dollars, I’ll simply relate the old adage of the man who said “I’ve never had my paycheck signed by a poor man.” business Government Policy and False Prosperity 27 January 2003    Texas Straight Talk 27 January 2003 verse 4 ... Cached My support for any tax cut is based on a longtime belief that our federal government is far too large, that it taxes and spends far too much. I always support tax cuts because I believe government should be returned to its proper constitutional limits. I do not support the idea of using tax policy for social engineering or supposed “stimulus,” where certain activities are encouraged and others discouraged. This is not proper in a free society, and it instills the terrible notion that government should run the economy. The great Austrian economist Ludwig von Mises understood that government could destroy wealth, but never create it. This is why government should not be in the business of manipulating stock prices- the benefits are always illusory, but the harms are very real. business The Free-Market Approach to the Medical Malpractice Crisis 31 March 2003    Texas Straight Talk 31 March 2003 verse 3 ... Cached There is no question that medical malpractice lawsuits are out of control in this country. We’ve become a society that expects medical care to be guaranteed, that demands a perfect outcome to every medical procedure. Mother Nature provides no guarantees however, and things can go wrong without the slightest negligence by the doctor involved. Of course some malpractice suits are legitimate, and truly negligent doctors should pay economic damages. But far too many suits are filed simply because a patient is unhappy despite the competent efforts of his doctor, and far too many meritless suits are settled simply to avoid litigation costs. The result is malpractice premiums that cost doctors tens of thousands of dollars per year, and increasingly threaten to put some out of business. business The Free-Market Approach to the Medical Malpractice Crisis 31 March 2003    Texas Straight Talk 31 March 2003 verse 6 ... Cached The federal approach also ignores the root cause of the malpractice crisis: the shift away from treating the doctor-patient relationship as a contract to viewing it as one governed by federal regulations. The third-party payer system, largely the result of federal tax laws and the HMO Act of 1973, invites insurance company functionaries, politicians, government bureaucrats, and trial lawyers into the equation. This destroys the patient’s incentive to keep costs down, because he feels he is part of “the system” and someone else pays the bill. In other words, the costs of medical care have been socialized, even though HMOs are ostensibly private businesses. business The Phony Tax Cut Debate 12 May 2003    Texas Straight Talk 12 May 2003 verse 2 ... Cached The watered-down tax cut passed in the House of Representatives last week, while predictably small, is better than nothing. It does reduce taxes on dividends slightly, lowers marginal income tax rates by very small percentages, and increases some deductions available to businesses. business Declining Dollar, Declining Fortunes 23 June 2003    Texas Straight Talk 23 June 2003 verse 5 ... Cached Mr. Greenspan’s two greatest sins are easy to understand. First, he has wildly inflated the money supply by creating more than $5 trillion in new dollars since he became Fed chairman. Second, he has relentlessly cut interest rates below market levels. These actions make money too plentiful and too cheap. When dollars are abundant and the cost of borrowing is low, people and businesses spend money less carefully. The stock market bubble of the late 1990s is all the proof we need that Fed printing presses can create money, but not wealth. business Drug Reimportation Increases Medical Freedom 04 August 2003    Texas Straight Talk 04 August 2003 verse 7 ... Cached Pharmaceutical companies certainly own the drugs they produce, and they have every right to sell them at any price they choose. They also have the right not to sell their products to foreign pharmacies, or to condition sales on an agreement that such pharmacies will not reimport into the U.S. They do not have a right, however, to use government to prevent Americans from buying drugs from any willing seller they choose, regardless of where that seller may be located. To quote Sheldon Richman, a scholar at the Future of Freedom Foundation, “The U.S. government has no business telling the American people what they may and may not buy from people living outside the country. That’s called freedom, something earlier Americans actually understood and valued.” business The Tyranny of Paper Money 08 September 2003    Texas Straight Talk 08 September 2003 verse 4 ... Cached We need to understand why a fiat system is so popular with economists, the business community, bankers, and government officials. One explanation is that a fiat monetary system allows power and influence to fall into the hands of those who control the creation of new money, and to those who get to use the money or credit early in its circulation. The insidious and eventual cost falls on unidentified victims, who are usually oblivious to the cause of their plight. business Your Money in Iraq 29 September 2003    Texas Straight Talk 29 September 2003 verse 7 ... Cached -$20 million for business classes, at a cost of $10,000 per Iraqi student; business Economic Woes Begin at Home 03 November 2003    Texas Straight Talk 03 November 2003 verse 7 ... Cached Instead of promoting global economic government, Congress should reform those policies that reduce our manufacturers’ competitiveness. Recently, a prominent financial journalist visited with businessmen who are launching new enterprises in China. When he asked them why they chose to invest in China, they answered: “It is so much easier to start a business in China than in the United States, especially in places like Massachusetts and California.” business Economic Woes Begin at Home 03 November 2003    Texas Straight Talk 03 November 2003 verse 8 ... Cached This answer should send a clear message to every lawmaker in America: the taxes and regulations imposed on American businesses are hurting economic growth and killing jobs. If we are serious about creating jobs, we should be working on an aggressive agenda of cutting taxes and repealing needless regulations. We should be working to adopt a stable, gold-backed dollar whose value is determined by the market. We don’t need to bully our foreign competitors, we just need to stop subsidizing them while releasing the regulatory and tax stranglehold on American businesses. business Spending and Lying 02 February 2004    Texas Straight Talk 02 February 2004 verse 7 ... Cached Faced with a severe budget crisis, the federal government should do what any family or business would do in similar circumstances: drastically reduce spending and sell off assets. It is preposterous that the federal budget has more than doubled just since 1990, and surely the republic would survive a return to 1995 or 2000 spending levels. Furthermore, the government owns trillions of dollars worth of land and other assets, assets that should be sold to pay off the mounting national debt. Why should additional debt and new taxes be forced upon the American people to pay for government sins, especially when the spendthrift politicians have substantial assets at their disposal? business Greenspan's Black Magic 23 February 2004    Texas Straight Talk 23 February 2004 verse 2 ... Cached In testimony before the House Financial Services Committee last week, Federal Reserve Chairman Alan Greenspan painted a rosy picture of the U.S. economy. In his eyes, the Fed’s aggressive expansion of the money supply and suppression of interest rates have strengthened the financial condition of American households and industries. If this is true, however, our nation’s "prosperity" is merely a temporary illusion based on smoke and mirrors. True wealth cannot be created simply by printing money; families and businesses cannot prosper by getting deeper in debt. business Greenspan's Black Magic 23 February 2004    Texas Straight Talk 23 February 2004 verse 5 ... Cached Mr. Shostak also demonstrates that American businesses aren’t doing much better. As consumers exhaust their ability to borrow, they necessarily buy fewer goods and services. The ratio of business liabilities to assets is very high, price to earning ratios are still unrealistic, and investment capital remains scarce. Business may be better than it was two years ago, but the fundamentals are far less healthy than Mr. Greenspan would have us believe. business LOST at Sea 05 April 2004    Texas Straight Talk 05 April 2004 verse 4 ... Cached The Law of the Sea Treaty also would give the UN power to tax American citizens and businesses, which has been a long-time dream of the anti-sovereignty globalists. LOST also would establish an international court system to enforce its provisions and rulings. Imagine not being able to do business internationally without the approval of the United Nations! business LOST at Sea 05 April 2004    Texas Straight Talk 05 April 2004 verse 10 ... Cached Together with 13 of my colleagues in the House of Representatives, I sent a letter last week to Senate Majority Leader Bill Frist urging him to reject this dangerous and foolish treaty. Should the United Nations succeed in its dream of taxing American citizens when they do business abroad, how much longer will it be until they begin taxing us at home? Just last month, in fact, UN bureaucrats gathered in New York to look for ways to revive their dream of imposing UN control and a global tax on the internet. Imagine a global policy on internet content dictated by nations such as Saudi Arabia and China - and paid for by Americans! Let us hope that the Senate does the sensible thing and rejects LOST and any further UN encroachments on our sovereignty. business Free Market Medicine 03 May 2004    Texas Straight Talk 03 May 2004 verse 6 ... Cached We should remember that HMOs did not arise because of free-market demand, but rather because of government mandates. The HMO Act of 1973 requires all but the smallest employers to offer their employees HMO coverage, and the tax code allows businesses- but not individuals- to deduct the cost of health insurance premiums. The result is the illogical coupling of employment and health insurance, which often leaves the unemployed without needed catastrophic coverage. business Freedom vs. Security: A False Choice 31 May 2004    Texas Straight Talk 31 May 2004 verse 3 ... Cached But the obvious lesson of September 11th is that government cannot protect us. Even with trillions of tax dollars spent on “defense,” hijacked planes flew unchallenged over our skies and attacked national symbols of business and government. Yet now we’re told to put even more faith into the same bureaucracies that failed us so miserably in the past? Self-reliance and self-defense are American virtues; trembling reliance on the illusion of government-provided security is not. business Zero Down for the American Dream 21 June 2004    Texas Straight Talk 21 June 2004 verse 6 ... Cached But as with all federal intervention in the economy, housing welfare distorts the mortgage industry and makes ordinary Americans poorer. Banks, of course, love federal mortgage programs- after all, the risk of default is transferred to American taxpayers. The lending mortgage banks get paid whether homebuyers default or not, and what business wouldn’t love having the federal government guarantee the profitability of its ventures? Between the Federal Housing Administration, which is the largest insurer of mortgages in the world, and the government-created Fannie Mae and Freddie Mac corporations, the mortgage market is hopelessly distorted. Millions of mortgages in this country are federally insured, and the tax bill for defaults could be astronomical if the housing bubble bursts. business None of Your Business! 12 July 2004    Texas Straight Talk 12 July 2004 verse 1 ... Cached None of Your Business! business None of Your Business! 12 July 2004    Texas Straight Talk 12 July 2004 verse 2 ... Cached You may not have heard of the American Community Survey, but you will. The national census, which historically is taken every ten years, has expanded to quench the federal bureaucracy’s ever-growing thirst to govern every aspect of American life. The new survey, unlike the traditional census, is taken each and every year at a cost of hundreds of millions of dollars. And it’s not brief. It contains 24 pages of intrusive questions concerning matters that simply are none of the government’s business, including your job, your income, your physical and emotional heath, your family status, your dwelling, and your intimate personal habits. business None of Your Business! 12 July 2004    Texas Straight Talk 12 July 2004 verse 7 ... Cached The census also represents a form of corporate welfare, since the personal data collected on hundred of millions of Americans can be sold to private businesses. Surely business enjoys having such extensive information available from one source, but it’s hardly the duty of taxpayers to subsidize the cost of market research. business None of Your Business! 12 July 2004    Texas Straight Talk 12 July 2004 verse 9 ... Cached More importantly, they never envisioned a nation where the people would roll over and submit to every government demand. The American Community Survey is patently offensive to all Americans who still embody that fundamental American virtue, namely a healthy mistrust of government. The information demanded in the new survey is none of the government’s business, and the American people should insist that Congress reject it now before it becomes entrenched. business The 9-11 Commission Charade 23 August 2004    Texas Straight Talk 23 August 2004 verse 6 ... Cached Our nation will be safer only when government does less, not more. Rather than asking ourselves what Congress or the president should be doing about terrorism, we ought to ask what government should stop doing. It should stop spending trillions of dollars on unconstitutional programs that detract from basic government functions like national defense and border security. It should stop meddling in the internal affairs of foreign nations, but instead demonstrate by example the superiority of freedom, capitalism, and an open society. It should stop engaging in nation-building, and stop trying to create democratic societies through military force. It should stop militarizing future enemies, as we did by supplying money and weapons to characters like Bin Laden and Saddam Hussein. It should stop entangling the American people in unholy alliances like the UN and NATO, and pledge that our armed forces will never serve under foreign command. It should stop committing American troops to useless, expensive, and troublesome assignments overseas, and instead commit the Department of Defense to actually defending America. It should stop interfering with the 2nd amendment rights of private citizens and businesses seeking to defend themselves. business "I Have a Plan..." 18 October 2004    Texas Straight Talk 18 October 2004 verse 8 ... Cached In a truly free nation, the government acts only as a referee by protecting property rights, enforcing contracts, prohibiting force and fraud, and providing national defense. Such was the system envision by the Founding Fathers, who strictly limited regulatory and tax powers in the Constitution. They were tired of having their business affairs managed by the Crown, so they created a servant government that would allow freedom and capitalism to flourish. business TSA- Bullies at the Airport 29 November 2004    Texas Straight Talk 29 November 2004 verse 8 ... Cached Airlines should be using every last ounce of their lobbying and public relations power to stop TSA from harassing, delaying, humiliating, and otherwise mistreating their paying passengers. They should be protecting their employees, passengers, and aircraft using private security and guns in the cockpit. After all, who has more incentive to create safe skies than the airlines themselves? Many security-intensive industries, including nuclear power plants, oil refineries, and armored money transports, employ private security forces with excellent results. Yet the airlines prefer to relinquish all responsibility for security to the government, so they cannot be held accountable if another disaster occurs. But airlines are finding out the hard way that millions of Americans simply won't put up with TSA's abuse. Wealthy Americans are using private planes via increasingly popular fractional ownership plans, while ordinary Americans are choosing to drive to their destinations and vacation closer to home. Even business travelers are finding ways to consolidate trips and teleconference. Who can blame anyone for avoiding airports altogether? business What does Freedom Really Mean? 07 February 2005    Texas Straight Talk 07 February 2005 verse 7 ... Cached A truly democratic election in Iraq, without U.S. interference and U.S. puppet candidates, almost certainly would result in the creation of a Shiite theocracy. Shiite majority rule in Iraq might well mean the complete political, economic, and social subjugation of the minority Kurd and Sunni Arab populations. Such an outcome would be democratic, but would it be free? Would the Kurds and Sunnis consider themselves free? The administration talks about democracy in Iraq, but is it prepared to accept a democratically-elected Iraqi government no matter what its attitude toward the U.S. occupation? Hardly. For all our talk about freedom and democracy, the truth is we have no idea whether Iraqis will be free in the future. They’re certainly not free while a foreign army occupies their country. The real test is not whether Iraq adopts a democratic, pro-western government, but rather whether ordinary Iraqis can lead their personal, religious, social, and business lives without interference from government. business Where is Your Money Going? 21 March 2005    Texas Straight Talk 21 March 2005 verse 4 ... Cached Supplemental spending bills are particularly galling because “emergency” funds are not subject to the same congressional budget rules. This allows Congress to spend billions of dollars completely outside the stated budget, with little or no public attention. It also underscores how meaningless government budgets really are-- unlike families and businesses, the political class never has to worry about busting the budget. business Pro-Life Politics? 28 March 2005    Texas Straight Talk 28 March 2005 verse 7 ... Cached This federalization of social issues, often championed by conservatives, has not created a pro-life culture, however. It simply has prevented the 50 states from enacting laws that more closely reflect the views of their citizens. Once we accepted the federalization of abortion law under the 1973 Roe v. Wade decision, we lost the ability to apply local community standards to ethical issues. It is much more difficult for pro-life advocates to win politically at the federal level. Those who seek a pro-life culture must accept that we will never persuade 300 million Americans to agree with us. Our focus should be on overturning Roe and getting the federal government completely out of the business of regulating state matters. A pro-life culture can be built only from the ground up, person by person. For too long we have viewed the battle as purely political, but no political victory can change a degraded culture. A pro-life culture must arise from each of us as individuals, not by the edict of an amoral federal government. business Why Do We Fund UNESCO? 18 April 2005    Texas Straight Talk 18 April 2005 verse 10 ... Cached Those who supported rejoining UNESCO claim the organization has been reformed over the years. Yet it’s strange that in two decades since the United States left UNESCO, we only started reading about purported reforms in the year 2000. Are we to believe that after nearly twenty years of business as usual, a large bureaucracy like UNESCO suddenly reinvented itself in a few short years? Is it worth spending $60 million every year on an organization with such a terrible history of waste, corruption, and anti-Americanism? business CAFTA: More Bureaucracy, Less Free Trade 06 June 2005    Texas Straight Talk 06 June 2005 verse 7 ... Cached The tax bill in question is just the tip of the iceberg. The quasi-judicial regime created under CAFTA will have the same power to coerce our cowardly legislature into changing American laws in the future. Labor and environmental rules are inherently associated with trade laws, and we can be sure that CAFTA will provide yet another avenue for globalists to impose the Kyoto Accord and similar agreements on the American people. CAFTA also imposes the International Labor Organization’s manifesto, which could have been written by Karl Marx, on American business. I encourage every conservative and libertarian who supports CAFTA to read the ILO declaration and consider whether they still believe the treaty will make America more free. business Federal Funding for Mental Health Screening of Kids 27 June 2005    Texas Straight Talk 27 June 2005 verse 14 ... Cached Certainly there are legitimate organic mental illnesses, but that does not mean it is the role of government to subject every child to arbitrary screening without the consent of parents. Most Americans still understand that certain things are none of the government’s business, even if Congress does not. If you are a parent, do everything you can to protect your children by demanding to be notified of any screening program in their schools. As a voter, let your state and federal legislators know that you don’t want tax dollars spent on mental health screening programs. If we act now, we still can prevent the federal government from creating a nationwide, mandatory program that will place millions of American youngsters into a stigmatized, drugged, mental health ghetto. business What Should America do for Africa? 11 July 2005    Texas Straight Talk 11 July 2005 verse 4 ... Cached The White House attempted to quell criticism that America is not doing enough to save Africa by announcing that the U.S. would double its economic aid to the continent, from $4.3 billion to $8.6 billion, over the next few years. Neither Congress nor the American people were consulted prior to this pronouncement, I might add. I think the public might not share the administration’s generous mood, especially as we spend billions in Iraq and face single year deficits of $500 billion. Frankly, a federal government with nearly $8 trillion in debt has no business giving money to anybody. business Immigration and the Welfare State 08 August 2005    Texas Straight Talk 08 August 2005 verse 9 ... Cached Economic considerations aside, we must address the cultural aspects of immigration. The vast majority of Americans welcome immigrants who want to come here, work hard, and build a better life. But we rightfully expect immigrants to show a sincere desire to become American citizens, speak English, and assimilate themselves culturally. All federal government business should be conducted in English. More importantly, we should expect immigrants to learn about and respect our political and legal traditions, which are rooted in liberty and constitutionally limited government. business Who Opposes Simpler, Lower Taxes? 17 October 2005    Texas Straight Talk 17 October 2005 verse 6 ... Cached The panelists also misused the term “tax subsidy” over and over. A true subsidy is very simple: certain individuals or businesses receive taxpayer money from the government. But the panel members clearly have accepted the thoroughly leftist idea that all income belongs to the state, and therefore the state “subsidizes” you by letting you keep some of the money you earned. This is nonsense. If the government uses tax dollars to build you a house, you have received a subsidy. Taxpayers have given you something. But if you pay less in income taxes because of the mortgage interest deduction, you have not been “subsidized” by anyone. The government has not given you something; it simply has taken less. What kind of tax reform proposals can we expect from people who can’t understand the fundamental difference between a subsidy and a tax cut? business Will the Estate Tax ever be Repealed? 24 October 2005    Texas Straight Talk 24 October 2005 verse 3 ... Cached Just two years ago, Congress was poised to eliminate the hated estate tax permanently. Today, however, several U.S. Senators are using their own wasteful spending habits to justify retaining the tax. In the eyes of these Senators, budget deficits are never the result of too much spending, but rather too little taxing. They cannot imagine giving up even the tiny fraction of federal revenues raised by the estate tax. Why is a one percent revenue cut unthinkable to these lawmakers, while annual three or five percent spending increases are considered business as usual? To answer this question, look no further than the transportation bill passed last week in the Senate. It is perhaps the most pork-filled, wasteful appropriations bill passed in years. The bottom line is that spending money is what keeps these Senators in office. They won’t stop pork spending because the American voting public rewards them for it. business Will the Estate Tax ever be Repealed? 24 October 2005    Texas Straight Talk 24 October 2005 verse 6 ... Cached The tired argument that the estate tax only affects the rich simply is false. Many of my constituents are farmers, ranchers, and small business owners. They are hardly rich, but some of them have built up valuable businesses they would like to pass on to their children. Yet when they die, their children rarely have the liquid cash needed to pay the death tax bill. Often the business must be sold or divided to raise money for the IRS. Many family farms across this country have been bought by large corporations because of the estate tax. business A Free Market in Gasoline 31 October 2005    Texas Straight Talk 31 October 2005 verse 8 ... Cached Note that much of the support for unrealistic environmental regulations comes from northeastern politicians and media, who weren’t nearly as interested in oil fortunes when the business hit rock bottom in the 1980s. Texas and the gulf coast have always been willing to supply the nation’s energy, and it’s a bit disingenuous to hear criticism from those who are happy to use oil but don’t want refineries in their backyards. business Slashing the Budget? 21 November 2005    Texas Straight Talk 21 November 2005 verse 5 ... Cached Remember, the same Republicans claiming victory for slowing spending next year also passed the Medicare prescription drug bill, which will add over $50 billion to the federal budget in 2006 alone! In just one year the Medicare bill adds ten times in new spending what the budget bill purportedly cuts. So nobody who voted for the Medicare drug bill has any business talking about government spending. Neither do those who refuse to consider cutting one penny from the military and foreign aid budgets. You cannot conduct a foreign policy based on remaking whole nations using military force and pretend to operate a frugal government. business Katrina Relief Six Months Later 20 February 2006    Texas Straight Talk 20 February 2006 verse 9 ... Cached The best way to rebuild New Orleans is to provide entrepreneurial incentives for people and businesses willing to do the hard work involved. I voted for several bills last fall that provide some measure of tax relief for Katrina victims, but more could be done. Imagine the revitalization that would occur if Congress declared New Orleans a federal tax-free zone for 5 or 10 years. business The Port Security Controversy 27 February 2006    Texas Straight Talk 27 February 2006 verse 6 ... Cached This is not a true free market transaction, but rather a marriage of multinational corporate and state interests. And surely the American people should have a say over foreign governments doing business here, especially when that business affects port security. business How Government Debt Grows 13 March 2006    Texas Straight Talk 13 March 2006 verse 6 ... Cached Debt and credit, wisely used, can be proper tools for individuals and businesses. In a free society, however, we can never view expansion as a proper goal for government. Unlike a private business, our federal government should not be seeking out new ways to increase the scope of its dubious “services.” Any government that consumes at least 25% of the American economy and still can't balance its books is a government that vastly overspends. business The Declining Dollar Erodes Personal Savings 15 May 2006    Texas Straight Talk 15 May 2006 verse 3 ... Cached A recent article in BusinessWeek magazine by James Mehring paints a stark picture of the ongoing decline of the U.S. dollar. The dollar has lost 5% against a blend of worldwide currencies just since April, falling to a 12-month low against the Euro and an 8-month low against the Japanese yen. Overall, the dollar fell 28% against other currencies between 2002 and 2004. It then rebounded slightly, but even the cheerleaders in the American financial press cannot shrug off this latest decline. business Stop the NAIS 29 May 2006    Texas Straight Talk 29 May 2006 verse 3 ... Cached The House of Representatives recently passed funding for a new federal mandate that threatens to put thousands of small farmers and ranchers out of business. The National Animal Identification System, known as NAIS, is an expensive and unnecessary federal program that requires owners of livestock-- cattle, dairy, poultry, and even horses-- to tag animals with electronic tracking devices. The intrusive monitoring system amounts to nothing more than a tax on livestock owners, allowing the federal government access to detailed information about their private property. business Stop the NAIS 29 May 2006    Texas Straight Talk 29 May 2006 verse 11 ... Cached NAIS means more government, more regulations, more fees, more federal spending, less privacy, and diminished property rights. It’s exactly the kind of federal program every conservative, civil libertarian, animal lover, businessman, farmer, and rancher should oppose. The House has already acted, but there’s still time to tell the Senate to dump NAIS. Please call your Senators and tell them you oppose spending even one dime on the NAIS program in the 2007 agriculture appropriations bill. business Why Won't Congress Abolish the Estate Tax? 12 June 2006    Texas Straight Talk 12 June 2006 verse 11 ... Cached For smaller, family-owned farms and ranches, the estate tax is especially threatening. Such operations may be worth several million dollars when the value of land, livestock, buildings, and equipment are considered. Yet when the owner dies, his heirs often do not have liquid cash to pay a hefty tax bill. As a result, all or part of the family business may be sold to pay the IRS. This has accelerated the trend toward corporate ownership of American farms and ranches. business IRS Threatens Political Speech 24 July 2006    Texas Straight Talk 24 July 2006 verse 5 ... Cached I agree with my colleague Walter Jones of North Carolina that the political views of any particular church or its members are none of the government’s business. Congressman Jones introduced legislation that addresses this very serious issue of IRS harassment of churches engaging in conservative political activity. This bill is badly needed to end the IRS practice of threatening certain politically disfavored faiths with loss of their tax-exempt status, while ignoring the very open and public political activities of other churches. While some well-known leftist preachers routinely advocate socialism from the pulpit, many conservative Christian and Jewish congregations cannot present their political beliefs without risking scrutiny from the tax collector. business Your Taxes Subsidize China 14 August 2006    Texas Straight Talk 14 August 2006 verse 6 ... Cached Some of your money went to fund a nuclear power plant in Shanghai owned by the China National Nuclear Corporation, a state-run company. Many US-based multinational corporations benefit directly from Export-Import Bank subsidies to China, including Boeing, Westinghouse, and McDonnell Douglas. So it’s not hard to understand that business trumps the feelgood rhetoric condemning China. business Lowering the Cost of Health Care 21 August 2006    Texas Straight Talk 21 August 2006 verse 4 ... Cached We should remember that HMOs did not arise because of free-market demand, but rather because of government mandates. The HMO Act of 1973 requires all but the smallest employers to offer their employees HMO coverage, and the tax code allows businesses- but not individuals- to deduct the cost of health insurance premiums. The result is the illogical coupling of employment and health insurance, which often leaves the unemployed without needed catastrophic coverage. business Lowering the Cost of Health Care 21 August 2006    Texas Straight Talk 21 August 2006 verse 10 ... Cached HR 3076 is specifically designed to address the medical malpractice crisis that threatens to drive thousands of American doctors- especially obstetricians- out of business. The bill provides a dollar-for-dollar tax credit that permits consumers to purchase "negative outcomes" insurance prior to undergoing surgery or other serious medical treatments. Negative outcomes insurance is a novel approach that guarantees those harmed receive fair compensation, while reducing the burden of costly malpractice litigation on the health care system. Patients receive this insurance payout without having to endure lengthy lawsuits, and without having to give away a large portion of their award to a trial lawyer. This also drastically reduces the costs imposed on physicians and hospitals by malpractice litigation. Under HR 3076, individuals can purchase negative outcomes insurance at essentially no cost. business Elected Officials Threaten Property Rights 04 September 2006    Texas Straight Talk 04 September 2006 verse 3 ... Cached In recent weeks I've written about the threat of rising property taxes posed by state and local governments hungry for more and more of your money; and the threat of widespread eminent domain actions posed by a planned North American superhighway running straight through Texas. It's clear that many political and business interests are only too willing to drive people literally out of their homes to make way for the grand schemes of those in power. business Taxes, Spending, and Debt are the Real Issues 16 October 2006    Texas Straight Talk 16 October 2006 verse 4 ... Cached Lower taxes benefit all Americans by increasing economic growth and encouraging wealth creation. I’m in favor of cutting everybody’s taxes – rich, poor, and otherwise. Whether a tax cut reduces a single mother’s payroll taxes by forty dollars a month, or allows a business owner to save thousands in capital gains and hire more employees, the net effect is beneficial. Both either spend, save, or invest the extra dollars, which helps all of us more than if those dollars were sent to the black hole known as the federal Treasury. business Do Tax Cuts Cost the Government Money? 23 October 2006    Texas Straight Talk 23 October 2006 verse 9 ... Cached Various other taxes also must be reduced. Capital gains taxes are terribly counterproductive, punishing those who save and invest. Payroll taxes impose a tremendous compliance burden on businesses, especially smaller entrepreneurs who cannot hire an accounting department. Federal gas taxes should be slashed to provide taxpayers relief at the pump. Most importantly, federal spending must be dramatically reduced so that all Americans can go back to working for themselves instead of working to pay their taxes. business The NAFTA Superhighway 30 October 2006    Texas Straight Talk 30 October 2006 verse 5 ... Cached This will require coordinated federal and state eminent domain actions on an unprecedented scale, as literally millions of people and businesses could be displaced. The loss of whole communities is almost certain, as planners cannot wind the highway around every quaint town, historic building, or senior citizen apartment for thousands of miles. business Rethinking the Draft 27 November 2006    Texas Straight Talk 27 November 2006 verse 6 ... Cached So why is the idea of a draft even considered? One answer is that our military forces are spread far too thin, engaged in conflicts around the globe that are none of our business. With hundreds of thousands of troops stationed in literally hundreds of foreign nations, we simply don't have enough soldiers to invade and occupy every country labeled a threat or deemed ripe for regime change. Given the choice, many in Congress would rather draft more young bodies than rethink our role as world policeman and bring some of our troops home. business Monetary Inflation is the Problem 04 December 2006    Texas Straight Talk 04 December 2006 verse 7 ... Cached However, when the Fed sets interest rates artificially low, the cost of borrowing becomes cheap. Individuals incur greater amounts of debt, while businesses overextend themselves and grow without real gains in productivity. The bubble bursts quickly once the credit dries up and the bills cannot be paid. business The World's Reserve Currency 01 January 2007    Texas Straight Talk 01 January 2007 verse 5 ... Cached Still, the rise of the Euro internationally is another sign that the U.S. dollar is not what it used to be. There is increasing pressure on nations to buy and sell oil in euros, and anecdotal evidence suggests that drug dealers and money launderers now prefer euros to dollars. Historically, the underground cash economy has always sought the most stable and valuable paper currency to conduct business. business Inflation and War Finance 29 January 2007    Texas Straight Talk 29 January 2007 verse 4 ... Cached This is fundamentally dishonest: if we’re going to have a war, let’s face the costs-- both human and economic-- squarely. Congress has no business hiding the costs of war through accounting tricks. business Hypocrisy in the Middle East 26 February 2007    Texas Straight Talk 26 February 2007 verse 8 ... Cached A coherent foreign policy is based on the understanding that America is best served by not interfering in the deadly conflicts that define the Middle East. Yes, we need Middle Eastern oil, but we can reduce our need by exploring domestic sources. We should rid ourselves of the notion that we are at the mercy of the oil-producing countries- as the world’s largest oil consumer, their wealth depends on our business. We should stop the endless game of playing faction against faction, and recognize that buying allies doesn’t work. We should curtail the heavy militarization of the area by ending our disastrous foreign aid payments. We should stop propping up dictators and putting band-aids on festering problems. We should understand that our political and military involvement in the region creates far more problems that it solves. All Americans will benefit, both in terms of their safety and their pocketbooks, if we pursue a coherent, neutral foreign policy of non-interventionism, free trade, and self-determination in the Middle East. business Don't Blame the Market for Housing Bubble 19 March 2007    Texas Straight Talk 19 March 2007 verse 4 ... Cached When the bubble finally bursts completely, millions of Americans will be looking for someone to blame. Look for Congress to hold hearings into subprime lending practices and “predatory” mortgages. We’ll hear a lot of grandstanding about how unscrupulous lenders took advantage of poor people, and how rampant speculation caused real estate markets around the country to overheat. It will be reminiscent of the Enron hearings, and the message will be explicitly or implicitly the same: free-market capitalism, left unchecked, leads to greed, fraud, and unethical if not illegal business practices. business Don't Blame the Market for Housing Bubble 19 March 2007    Texas Straight Talk 19 March 2007 verse 10 ... Cached The Federal Reserve provides the mother’s milk for the booms and busts wrongly associated with a mythical “business cycle.” Imagine a Brinks truck driving down a busy street with the doors wide open, and money flying out everywhere, and you’ll have a pretty good analogy for Fed policies over the last two decades. Unless and until we get the Federal Reserve out of the business of creating money at will and setting interest rates, we will remain vulnerable to market bubbles and painful corrections. If housing prices plummet and millions of Americans find themselves owing more than their homes are worth, the blame lies squarely with Alan Greenspan and Ben Bernanke. business Government and Racism 16 April 2007    Texas Straight Talk 16 April 2007 verse 6 ... Cached Let’s be perfectly clear: the federal government has no business regulating speech in any way. Furthermore, government as an institution is particularly ill suited to combating bigotry in our society. Bigotry at its essence is a sin of the heart, and we can’t change people’s hearts by passing more laws and regulations. business Exposing the True Isolationists 23 July 2007    Texas Straight Talk 23 July 2007 verse 7 ... Cached America is now held in low esteem in many nations, not because we follow our own interests, but because the elites make claims that are not reflected in reality. They have, for example, undertaken economic sanctions in an entirely new way in recent years. When they wanted to take aim at Iraq and Iran, they imposed sanctions against those countries, but also against countries doing business with those countries. This meant we were in no position to negotiate with our adversaries, and we also could not rely on support from our allies. business High Risk Credit 20 August 2007    Texas Straight Talk 20 August 2007 verse 5 ... Cached The truth is that business involves risk, and businesses that miscalculate risk should be liquidated, so their assets can be reallocated to businesses that correctly judge risk and make profits. Instead, the Fed has injected $64 billion into the jittery markets, effectively amounting to a bailout that keeps these malinvestments afloat, but eventually they will become the undoing of our economy. business Regulation, Free Trade and Mexican Trucks 09 September 2007    Texas Straight Talk 09 September 2007 verse 4 ... Cached The fact that this is being done in the name of free trade is disturbing. Free trade is not complicated, yet NAFTA and CAFTA are comprised of thousands of pages of complicated legal jargon. All free trade really needs is two words: Low tariffs. Free trade does not require coordination with another government to benefit citizens here. Just like domestic businesses don't pay taxes, foreign businesses do not pay tariffs – consumers do, in the form of higher prices. If foreign governments want to hurt their own citizens with protectionist tariffs, let them. But let us set a good example here, and show the world an honest example of true free trade. And let us stop hurting American workers with mountains of red tape in the name of safety. Safety standards should be set privately, by the industry and by the insurance companies who have the correct motivating factors to do so. business Struggling for Relevance in Cuba: Close, Still No Cigars 28 October 2007    Texas Straight Talk 28 October 2007 verse 4 ... Cached In the name of helping Cubans, the US administration is calling for "multibillions" of taxpayer dollars in foreign aid and subsidies for internet access, education and business development for Cubans under the condition that the Cuban government demonstrates certain changes. In the same breath, they claim lifting the embargo would only help the dictatorship. This is exactly backwards. Free trade is the best thing for people in both Cuba and the US . Government subsidies would enrich those in power in Cuba at the expense of already overtaxed Americans! business Tax Reform Promises Treats, Delivers Tricks 04 November 2007    Texas Straight Talk 04 November 2007 verse 6 ... Cached The founding fathers never saw taxation as a method to direct social behavior or enforce equality. Equality to them was equality under the law, not equality of outcome, or income. It was not the founding fathers' job to manage the economy, or make American businesses competitive. That was up to the free market and American businesses. The founders sought to provide only protection of property and civil liberties such that job creation could happen naturally and peacefully in a stable, prosperous environment. They never sought to take from the rich to give to the poor, or rob Peter to pay Paul. But today, the top 5% of earners in this country pay over half of all income taxes collected, but only bring in a third of the income. One third of Americans pay nothing or receive subsidies from government. business Entangling Alliances 11 November 2007    Texas Straight Talk 11 November 2007 verse 8 ... Cached When we look at global situations today, the words of our founding fathers are becoming more relevant daily. We need to understand that a simple, humble foreign policy makes us less vulnerable and less targeted on the world stage. Pakistan should not be getting an "allowance" from us and we should not be propping up military dictators that oppress people. We should mind our own business and stop the oppressive taxation of Americans that makes this meddling possible. business On the Omnibus Spending Bill 23 December 2007    Texas Straight Talk 23 December 2007 verse 7 ... Cached If this is Washington’s idea of the spirit of Christmas and charity then it is a sick joke. This holiday season we should be more concerned about the less fortunate here in our own country. People are facing the possibility of losing their homes because of a mortgage crisis brought on by inflation, businesses are being pushed into bankruptcy by a burdensome regulatory state, and the tax code makes it hard for many people to afford basics like medical care, gasoline, and educational expenses for their children. business On Foreign Entanglements: The Ties that Strangle 30 December 2007    Texas Straight Talk 30 December 2007 verse 7 ... Cached The administration has behaved as if there are only two choices in foreign policy - sending money or sending bombs. Our founding fathers knew a better way - to talk with our neighbors, do honest business with them, cultivate friendship, allow travel and open communication. We should neither initiate violence, nor take sides in conflicts that are none of our business. The American taxpayers are working hard enough to support their families here at home. If an American wants to send money overseas for a conflict or cause, let them, but do not slap Americans in the face by forcefully sending their children's college money abroad to subsidize despotic foreign governments. Our children should be going off to college, not going off to more senseless foreign wars. business Economic Stimulus Concerns 27 January 2008    Texas Straight Talk 27 January 2008 verse 4 ... Cached Countries build wealth through robust economic environments, in which jobs are created and businesses can operate at a profit and grow. When taxes bleed away profits and burdensome regulation hamstrings operations, our businesses and our jobs go overseas. The United States must foster a competitive business environment once again. business Economic Stimulus Concerns 27 January 2008    Texas Straight Talk 27 January 2008 verse 5 ... Cached There are a few ideas out there for economic stimulus that I do support, such as making permanent President Bush’s tax cuts. I have also signed on as one of 49 original cosponsors of the Economic Growth Act of 2008 which will provide actual economic stimulus through private sector tax relief and job-creating business incentives. This plan features business Economic Stimulus Concerns 27 January 2008    Texas Straight Talk 27 January 2008 verse 6 ... Cached ·Full immediate expensing for major business asset investments business Taxes or Tolls on the TTC 24 February 2008    Texas Straight Talk 24 February 2008 verse 6 ... Cached And to add insult to injury – private lands will be taken for this road which will be, for all intents and purposes, a private business. The government should not use the power of eminent domain to seize and redistribute land for the benefit of a private company. This is wrong and unconstitutional. Cintra Zachry should negotiate with each individual land owner and go through the normal private land acquisition process to start its new business. If mutual agreements can be reached, fine. If not, government force is not appropriate. Our government should protect property rights, not facilitate theft. business Taxes or Tolls on the TTC 24 February 2008    Texas Straight Talk 24 February 2008 verse 7 ... Cached Toll roads should not be paid for with taxpayer dollars, or even bond funding that pledge future tax dollars. Taxpayers should not have to pay additional fees for something they have already paid for. Eminent domain should absolutely not be used for private businesses. This public-private partnership has all the makings of the worst of both worlds. I am doing my part at the Federal level in Congress to limit the damage to the taxpayer. I introduced a bill in that prohibits the use of federal funding for any part of the TTC and I will continue to push for this bill, and other bills protecting property rights, taxpayers rights and our national sovereignty. The government should not fund and enforce private efforts like this and thumb their nose at land owners and taxpayers. business Hope for the Economy 02 March 2008    Texas Straight Talk 02 March 2008 verse 4 ... Cached What the government needs to stop doing is taxing Americans literally out of house and home in the wake of the housing debacle. We should not take money from taxpayers to bail out bad businesses. At the same time, we need to make sure that America can get back to work by easing taxes and regulations on good businesses and allow them to function and prosper. Also there a lot of tax cuts and tax reforms we could be making to ease the burden on the American people. business Making a Recession Great 16 March 2008    Texas Straight Talk 16 March 2008 verse 5 ... Cached The bottom line is that Washington has a serious spending addiction. While both parties debate how to raise the revenue, both parties seem happy to spend over $3 trillion of your money in various ways. While some in Washington criticize the war in Iraq, very few are criticizing the interventionist mindset that got us into the war in the first place. Many so-called "Iraq War critics," criticize this administration rather than truly opposing the decades old policies that led to war. They claim they will eventually get the troops out of Iraq, but the danger is that they simply plan to move them around to other countries, not bring them home. The American people want peace. Minding our own business is the best way to achieve it. Not only is it also a whole lot cheaper, but free trade and friendship with other countries benefits all involved. business On Money, Inflation and Government 30 March 2008    Texas Straight Talk 30 March 2008 verse 7 ... Cached In free markets, both success and failure are options. If government interventions prevent businesses, like Bear Stearns, from failing, then it is not truly a free market. As painful as it might be for Wall Street, banks, even big ones, must be allowed to fail. business Bailing Out Banks 13 April 2008    Texas Straight Talk 13 April 2008 verse 6 ... Cached The net effect of all this new funding has been to pump hundreds of billions of dollars into the financial system and bail out banks whose poor decision making should have caused them to go out of business. Instead of being forced to learn their lesson, these poor-performing banks are being rewarded for their financial mismanagement, and the ultimate cost of this bailout will fall on the American taxpayers. Already this new money flowing into the system is spurring talk of the next speculative bubble, possibly this time in commodities. business The Double Trouble of Taxation 20 April 2008    Texas Straight Talk 20 April 2008 verse 3 ... Cached The burden of complying with the income tax is tremendous. Since its inception in 1913, the tax code has gone from 400 pages to over 67,000. The Tax Foundation estimates that around $265 billion dollars and 6 billion hours are spent just on compliance. That expense amounts to about 22 cents of every dollar the IRS collects. Imagine the boon to the economy if we spent that time and money expanding our businesses and creating jobs! business The Double Trouble of Taxation 20 April 2008    Texas Straight Talk 20 April 2008 verse 4 ... Cached Aside from the direct loss of money and productivity, the funds from the income tax enable the government to do some very destructive things, such as vastly over-regulating economic activity, making it difficult to earn money in the first place. The federal government funds over 50 agencies, departments and commissions that formulate rules and regulations. These bureaucracies operate with little to no oversight from the people or Congress and generate around 4,000 new rules every year and operate at a cost of about 40 billion dollars. There are some 75,000 pages of regulations in the Federal Register that Americans are expected to know and abide by. Complying with these governmental regulations costs American businesses more than one trillion dollars per year, according to a study by Mark Crain for the Small Business Administration. This complicated system drives production to other countries and shrinks our job market here at home. business Big Government Responsible for High Gas Prices 04 May 2008    Texas Straight Talk 04 May 2008 verse 2 ... Cached In the past few months, American workers, consumers, and businesses have experienced a sudden and dramatic rise in gasoline prices. In some parts of the country, gasoline costs as much as $4 per gallon. Some politicians claim that the way to reduce gas prices is by expanding the government’s power to regulate prices and control the supply of gasoline. For example, the House of Representatives has even passed legislation subjecting gas stations owners to criminal penalties if they charge more than a federal bureaucrat deems appropriate. Proponents of these measures must have forgotten the 1970s, when government controls on the oil industry resulted in gas lines and shortages. It was only after President Reagan lifted federal price controls that the gas lines disappeared. business Rising Energy Prices and the Falling Dollar 09 June 2008    Texas Straight Talk 09 June 2008 verse 6 ... Cached Governments need to get out of the way and let the people get back to work so that we can get our economy back on stable footing. Our destructive regulatory environment, confiscatory tax policies, and managed, rather than free trade have chased many businesses overseas. The bottom line is average Americans are being seriously hurt by these flawed policies, and they are not getting good information about the true dynamics at work. The important thing now is to get the diagnosis absolutely correct so we can administer the appropriate treatment and move on to a healthier economic future. To do this it is absolutely necessary to address the subjects of central banking and fiat money. Texas Straight Talk from 20 December 1996 to 23 June 2008 (573 editions) are included in this Concordance. Texas Straight Talk after 23 June 2008 is in blog form on Rep. Paul’s Congressional website and is not included in this Concordance. Remember, not everything in the concordance is Ron Paul’s words. Some things he quoted, and he added some newspaper and magazine articles to the Congressional Record. Check the original speech to see. Home Page    Contents    Concordance   E-mail list.