U.S. Rep. Ron Paul | corporate welfare |
corporate welfare
The Indonesia Crisis
19 May 1998 1998 Ron Paul 52:21
As the Asian crisis spreads, I would expect Europe to feel the crunch next. Unemployment is already at a 12% level in Germany and France. The events can be made worse and accelerated by outside events like a Middle Eastern crisis or a war between India and Pakistan both now rattling their nuclear weapons. Eventually though, our system of “crony capitalism” and fiat money system will come under attack. Our system of favoring industries is different than the family oriented favoritism of Suharto, but none-the-less is built on a system of corporate welfare that prompts constant lobbying of Congress and the Administration for each corporation’s special interests. We have little to talk about as we preach austerity, balanced budgets and sound money to the current victims. Our day will come when we will humble ourselves before world opinion as our house of cards comes crashing down.
corporate welfare
The Indonesia Crisis
22 May 1998 1998 Ron Paul 54:21
As the Asian crisis spreads, I would expect Europe to feel the crunch next. Unemployment is already at or approaching 12% in Germany and France. The events can be made worse and accelerated by outside events like a Middle Eastern crisis or a war between India and Pakistan both now rattling their nuclear sabers. Eventually though, our system of “crony capitalism” and fiat money system will come under attack. Our system of favoring industries is different than the family-oriented favoritism of Suharto, but none-the-less is built on a system of corporate welfare that prompts constant lobbying of Congress and the Administration for each corporation’s special interests. We have little room to talk as we preach austerity, balanced budgets and sound money to the current victims. Our day will come when we will humble ourselves before world opinion as our house of cards comes crashing down.
corporate welfare
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.
corporate welfare
Women’s, Infant, and Children’s Program
20 July 1998 1998 Ron Paul 81:6
Mr. Speaker, the fact that the manufacture of foods such as Raisin Bran battle to get their products included in this program reveals the extent to which WIC is actually corporate welfare. Many corporations have made a tidy profit from helping to feed the poor and excluding their competitors in the process. For example, thanks to the WIC program, the federal government is the largest purchaser of infant formula in the nation.
corporate welfare
OPIC
2 August 1999 1999 Ron Paul 83:4
No wonder on paper it looks profitable. And they say, well, the private companies will not insure some of these projects. That means it is probably risky. Why should the taxpayer assume the risk? Why should these corporations be protected with this corporate welfare?
corporate welfare
OPIC
2 August 1999 1999 Ron Paul 83:7
This is indeed a very important amendment. I believe that we should definitely vote for this. If we care at all about the taxpayer of this country, we should expose what is happening with corporate welfare.
corporate welfare
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.
corporate welfare
A Republic, If You Can Keep It
31 January 2000 2000 Ron Paul 2:63
We cannot ignore corporate welfare, which is part of the problem. Most people think the welfare state involves only giving something to the unfortunate poor. This is generally true. But once the principle established that special benefits are legitimate, the monied interests see the advantages and influences the legislative process.
corporate welfare
A Republic, If You Can Keep It
31 January 2000 2000 Ron Paul 2:67
Any serious reforms or effort to break away from the welfare state must be directed as much at corporate welfare as routine welfare. Since there is no serious effort to reject welfare on principle, the real conflict over how to divide what Government plunders will continue.
corporate welfare
INTRODUCING LEGISLATION CALLING FOR THE UNITED STATES TO WITHDRAW FROM THE WORLD TRADE ORGANIZATION
March 1, 2000 2000 Ron Paul 12:3
Much could be said about the WTO’s mistaken Orwellian notion that allowing citizens to retain the fruits of their own labor constitutes subsidies and corporate welfare. However, we need not even reach the substance of this particular dispute prior to asking, by what authority does the World Trade Organization assume jurisdiction over the United States Federal tax policy? That is the question.
corporate welfare
Sudan Peace Act
13 June 2001 2001 Ron Paul 40:13
There is more, however. Buried deep within the bill in Section 9 we find what may be the real motivation for the intervention — Oil. It seems the bill also tasks the Secretary of State with generating a report detailing “a description of the sources and current status of Sudan’s financing and construction of infrastructure and pipelines for oil exploitation, the effects of such financing and construction on the inhabitants of the regions in which the oil fields are located.” Talk about corporate welfare and the ability to socialize the costs of foreign competitive market research on the U.S. taxpayer!
corporate welfare
Sudan Peace Act
13 June 2001 2001 Ron Paul 40:14
Yes, Mr. Chairman, this bill truly has it all — an unconstitutional purpose, the morally bankrupt intervention in dealings between the affairs of foreign governments and their respective citizens in our attempt to police the world, more involvement by a United Nations proven inept at resolving civil conflicts abroad, the expansion of the SEC into State Department functions and a little corporate welfare for big oil, to boot. How can one not support these legislative efforts?
corporate welfare
Export-Import Bank
24 July 2001 2001 Ron Paul 61:2
Mr. PAUL. Mr. Chairman, I rise in strong support of this amendment. This is a token amount of money being cut from the Export-Import Bank. The President asked for a $120 million cut. This is only $18 million. There was $120 million added over the present request. This is not a project that is a favorite of the President, and he has referred to this as a form of corporate welfare.
corporate welfare
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?
corporate welfare
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.
corporate welfare
Statement on the Argentine crisis
February 6 2002 2002 Ron Paul 4:10
The only constituency for the IMF are the huge multinational banks and corporations. Big banks used IMF funds- taxpayer funds- to bail themselves out from billions in losses after the Asian financial crisis. Big corporations obtain lucrative contracts for a wide variety of construction projects funded with IMF loans. It’s a familiar game in Washington, with corporate welfare disguised as compassion for the poor.
corporate welfare
Statement on Ending US Membership in the IMF
February 27, 2002 2002 Ron Paul 10:8
In all my years in Congress, I have never been approached by a taxpayer asking that he or she be forced to provide more subsidies to Wall Street executives and foreign dictators. The only constituency for the IMF is the huge multinational banks and corporations. Big banks used IMF funds- taxpayer funds- to bail themselves out from billions in losses after the Asian financial crisis. Big corporations obtain lucrative contracts for a wide variety of construction projects funded with IMF loans. It’s a familiar game in Washington, with corporate welfare disguised as compassion for the poor.
corporate welfare
Statement on the Financial Services committee’s “Views and Estimates for Fiscal Year 2003”
February 28, 2002 2002 Ron Paul 12:5
Rather than embracing an agenda of expanded statism, I hope my colleagues will work to reduce government interference in the market that only benefits the politically powerful. For example, the committee could take a major step toward ending corporate welfare by holding hearings and a mark-up on my legislation to withdrawal the United States from the Bretton Woods Agreement and end taxpayer support for the International Monetary Fund (IMF). The Financial Services committee can also take a step toward restoring Congress’ constitutional role in monetary policy by acting on my Monetary Freedom and Accountability Act (HR 3732), which requires Congressional approval before the federal government buys or sells gold.
corporate welfare
Statement on the Financial Services committee’s “Views and Estimates for Fiscal Year 2003”
February 28, 2002 2002 Ron Paul 12:6
This committee should also examine seriously the need for reform of the system of fiat currency which is responsible for the cycle of booms and busts which have plagued the American economy. Many members of the committee have expressed outrage over the behavior of the corporate executives of Enron. However, Enron was created by federal policies of easy credit and corporate welfare. Until this committee addresses those issues, I am afraid the American economy may suffer many more Enron-like disasters in the future.
corporate welfare
Statement on the Financial Services committee’s “Views and Estimates for Fiscal Year 2003”
February 28, 2002 2002 Ron Paul 12:7
In conclusion, the “Views and Estimates” presented by the Financial Services committee endorses increasing the power of the federal police state, as well as increasing both international and corporate welfare, while ignoring the economic problems created by federal intervention into the economy. I therefore urge my colleagues to reject this document and instead embrace an agenda of ending federal corporate welfare, protecting financial privacy, and reforming the fiat money system which is the root cause of America’s economic instability.
corporate welfare
Corporate and Auditing Accountability, Responsibility, And Transparency Act of 2002 (CARTA)
24 April 2002 2002 Ron Paul 24:13
If nothing else, Mr. Chairman, Enron’s success at obtaining State favors is another reason to think twice about expanding political control over the economy. After all, allegations have been raised that Enron used the same clout by which it received corporate welfare to obtain other “favors” from regulators and politicians, such as exemptions from regulations that applied to their competitors. This is not an uncommon phenomenon when one has a regulatory state, the result of which is that winners and losers are picked according to who has the most political clout.
corporate welfare
Corporate and Auditing Accountability, Responsibility, And Transparency Act of 2002 (CARTA)
24 April 2002 2002 Ron Paul 24:17
In conclusion, the legislation before us today expands Federal power over the accounting profession and the financial markets. By creating new opportunities for unscrupulous actors to maneuver through the regulatory labyrinth, increasing the costs of investing, and preempting the market’s ability to come up with creative ways to hold corporate officials accountable, this legislation harms the interests of individual workers and investors. Furthermore, this legislation exceeds the constitutional limits on Federal power, interfering in matters the 10th amendment reserves to state and local law enforcement. I therefore urge my colleagues to reject this bill. Instead, Congress should focus on ending corporate welfare programs which provide taxpayer dollars to large politically-connected companies, and ending the misguided regulatory and monetary policies that helped create the Enron debacle.
corporate welfare
Don’t Force Taxpayers to Fund Nation-Building in Afghanistan
May 21, 2002 2002 Ron Paul 43:10
As is often the case, much of the money authorized by this bill will go toward lucrative contracts with well-connected private firms and individuals. In short, when you look past all the talk about building civil society in Afghanistan and defending against terrorism, this bill is laden with the usual corporate welfare and hand-outs to special interests.
corporate welfare
The Financial Services Committee’s Terrible Blueprint for 2004
February 28, 2003 2003 Ron Paul 27:6
Rather than embracing an agenda of expanded statism, I hope my colleagues will work to reduce government interference in the market that only benefits the politically powerful. For example, the committee could take a major step toward ending corporate welfare by holding hearings and a mark-up on my legislation to withdraw the United States from the Bretton Woods Agreement and end taxpayer support for the International Monetary Fund (IMF). The Financial Services Committee can also take a step toward restoring Congress’ constitutional role in monetary policy by passing legislation requiring congressional approval before the federal government buys or sells gold.
corporate welfare
The Financial Services Committee’s Terrible Blueprint for 2004
February 28, 2003 2003 Ron Paul 27:8
In conclusion, the “Views and Estimates” presented by the Financial Services Committee endorse increasing the power of the federal police state, as well as increasing both international and corporate welfare, while ignoring the economic problems created by federal intervention into the economy. I therefore urge my colleagues to reject this document and instead embrace an agenda of ending federal corporate welfare, protecting financial privacy, and reforming the fiat money system that is the root cause of America’s economic instability.
corporate welfare
War No Excuse For Frivolous Spending
3 April 2003 2003 Ron Paul 46:1
Mr. PAUL. Mr. Chairman, at a time of war Congress has no more important duty than to make sure that our military force have all the resources they need. However, Congress also has a duty to not use the war as cover for unnecessary and unconstitutional spending. This is especially true when war coincides with a period of economic downturn and growing federal deficits. Unfortunately, Congress today is derelict in its duty to the United States taxpayer. Instead of simply ensuring that our military has the necessary resources to accomplish its mission in Iraq, a mission which may very well be over before this money reaches the Pentagon, Congress has loaded this bill up with unconstitutional wasteful foreign aid and corporate welfare spending.
corporate welfare
War No Excuse For Frivolous Spending
3 April 2003 2003 Ron Paul 46:6
In conclusion, Mr. Chairman, H.R. 1559 endangers America’s economy by engaging in pork-barrel spending and corporate welfare unrelated to national security. This bill endangers America’s economic health by adding almost $80 billion to the already bloated federal deficit. Additions to the deficit endanger our financial independence because America will have to increase its reliance on foreign borrowers to finance our debt. H.R. 1599 also shortchanges Americans by giving lower priority to funding homeland security than to funding unreliable allies and projects, like the Middle Eastern TV Network, that will do nothing to enhance America’s security. Therefore, I must oppose this bill.
corporate welfare
Medicare Funds For Prescription Drugs
26 June 2003 2003 Ron Paul 71:9
At the least, we should be debating whether to spend on warfare or welfare and choosing between corporate welfare and welfare for the poor instead of simply increasing spending on every program. While I would much rather spend federal monies on prescription drugs then another unconstitutional war, increasing spending on any program without corresponding spending reductions endangers our nation’s economic future.
corporate welfare
Legislation To Withdraw The United States From The Bretton Woods Agreement
17 July 2003 2003 Ron Paul 84:8
In all my years in Congress, I have never been approached by a taxpayer asking that he or she be forced to provide more subsidies to Wall Street executives and foreign dictators. The only constituency for the IMF is the huge multinational banks and corporations. Big banks used IMF funds — taxpayer funds — to bail themselves out from billions in losses after the Asian financial crisis. Big corporations obtain lucrative contracts for a wide variety of construction projects funded with IMF loans. It’s a familiar game in Washington, with corporate welfare disguised as compassion for the poor.
corporate welfare
H.R. 2427, the Pharmaceutical Market Access Act
24 July 2003 2003 Ron Paul 91:3
But in looking at the particular bill, one of the specific reasons why I oppose it, is I came to Congress opposing all welfare. Some people oppose welfare for the poor, but they support welfare for the rich. Others support welfare for the rich, but not for the poor; and some people support both kinds of welfare. I do not support any kind of welfare. This bill is needed to stop the indirect welfare through regulation for the rich and the pharmaceutical corporations. This is corporate welfare. That is one of the strong reasons why I am opposed to that.
corporate welfare
Borrowing Billions to Fund a Failed Policy in Iraq
October 17, 2003 2003 Ron Paul 110:4
Mr. Speaker this reconstruction of Iraq – that we are making but a down-payment on today – is at its core just another foreign policy boondoggle. The $20 billion plan to “rebuild” Iraq tilts heavily toward creating a statist economy and is filled with very liberal social-engineering programs. Much of the money in this reconstruction plan will be wasted - as foreign aid most often is. Much will be wasted as corporate welfare to politically connected corporations; much will be thrown away at all the various “non-government organizations” that aim to teach the Iraqis everything from the latest American political correctness to the “right” way to vote. The bill includes $900 million to import petroleum products into Iraq (a country with the second largest oil reserves in the world); $793 million for healthcare in Iraq when we’re in the midst of our own crisis and about to raise Medicare premiums of our seniors; $10 million for "women’s leadership programs" (more social engineering); $200 million in loan guarantees to Pakistan (a military dictatorship that likely is the home of Osama bin Laden); $245 million for the "U.S. share" of U.N. peacekeeping in Liberia and Sudan; $95 million for education in Afghanistan; $600 million for repair and modernization of roads and bridges in Iraq (while our own infrastructure crumbles).
corporate welfare
The Financial Services Committees “Views and Estimates for 2005”
February 26, 2004 2004 Ron Paul 7:13
Rather than embracing an agenda of expanded statism, I hope my colleagues will work to reduce government interference in the market that only benefits the politically powerful. For example, the committee could take a major step toward ending corporate welfare by holding hearings and a mark-up on my legislation to withdraw the United States from the Bretton Woods Agreement and end taxpayer support for the International Monetary Fund. If the committee is not going to defund programs such as Ex-Im, it should at least act on legislation Mr. Sanders will introduce denying corporate welfare to industries that move a substantial portion of their workforce overseas. It is obscene to force working Americans to subsidize their foreign competitors.
corporate welfare
The Financial Services Committees “Views and Estimates for 2005”
February 26, 2004 2004 Ron Paul 7:17
In conclusion, the “Views and Estimates” report presented by the committee claims to endorse fiscal responsibility, yet also supports expanding international, corporate, and domestic spending. The report also endorses increasing the power of the federal police state. Perhaps most disturbingly, this document ignores the looming economic problems created by the Federal Reserve’s inflationary monetary polices and the resulting increase in private and public sector debt. I therefore urge my colleagues to reject this document and instead embrace an agenda of ending corporate welfare, protecting financial privacy, and reforming the fiat money system that is the root cause of America’s economic instability.
corporate welfare
Don’t Expand NATO!
March 30, 2004 2004 Ron Paul 25:5
It will also mean more corporate welfare at home. As we know, NATO membership demands a minimum level of military spending of its member states. For NATO’s new members, the burden of significantly increased military spending when there are no longer external threats is hard to meet. Unfortunately, this is where the US government steps in, offering aid and subsidized loans to these members so they can purchase more unneeded and unnecessary military equipment. In short, it is nothing more than corporate welfare for the US military industrial complex.
corporate welfare
Reject the Millennium Challenge Act
May 19, 2004 2004 Ron Paul 35:7
MCA is corporate welfare for politically-connected US firms. These companies will directly benefit from this purported aid to foreign countries, as the money collected from US taxpayers can under the program be transferred directly to US companies to complete programs in the recipient countries. As bad as it is for US tax dollars to be sent overseas to help poor countries, what is worse is for it to be sent abroad to help rich and politically-connected US and multi-national companies.
corporate welfare
Financing Operations, Export Financing, And Related Programs Appropriations Act, 2005
15 July 2004 2004 Ron Paul 60:4
So there are two issues here, but corporate welfare and subsidies should have no part in this. There is no room for it. It is wrong.
corporate welfare
Financing Operations, Export Financing, And Related Programs Appropriations Act, 2005
15 July 2004 2004 Ron Paul 60:8
This is corporate welfare. It should be defeated; and, ultimately, if we believe in liberty and freedom, we ought to get rid of the Export-Import Bank.
corporate welfare
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.
corporate welfare
Introducing The Improve Interoperable Communications For First Responders Act
20 october 2005 2005 Ron Paul 107:4
Mr. Speaker, reducing spending on corporate welfare and foreign aid to strengthen first responders’ interoperable capability is a win-win for the American people. I hope my colleagues will help strengthen America’s first responders’ ability to help the American people in times of terrorists attacks and natural disasters by cosponsoring the Improve Interoperable Communications for First Responders Act.
corporate welfare
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.
corporate welfare
The End Of Dollar Hegemony
15 February 2006 2006 Ron Paul 3:11
The pressure at home to inflate the currency comes from the corporate welfare recipients, as well as those who demand handouts as compensation for their needs and perceived injuries by others. In both cases, personal responsibility for one’s actions is rejected.
corporate welfare
The End Of Dollar Hegemony
15 February 2006 2006 Ron Paul 3:115
Cut funding for corporate welfare, foreign aid, international NGOs, defense contractors, the military industrial complex, and rich corporate farmers before cutting welfare for the poor at home. No more unconstitutional intrusions into the privacy of law-abiding American citizens. Reconsider the hysterical demands for security over liberty by curtailing the ever-expanding oppressive wars on drugs, tax violators and gun ownership.
corporate welfare
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.
corporate welfare
CONSOLIDATED SECURITY, DISASTER ASSISTANCE, AND CONTINUING APPROPRIATIONS ACT, 2009
24 September 2008 2008 Ron Paul 63:3
Another particularly objectionable part of H.R. 2638 is the section providing $7.5 billion in loan guarantees for the auto industry. In exchange for the loans, the industry must agree to produce the type of automobiles favored by federal bureaucrats. Thus, this bill not only increases corporate welfare, it empowers federal bureaucrats to displace the judgment of consumers as to where the auto industry should concentrate its resources. As the failure of every centrally planed economy throughout history shows, when government officials usurp the decisions of consumers, workers, and entrepreneurs the result is economic stagnation.
corporate welfare
- Trust funds are being robbed, hundreds of billions at stake
20 February 1997 Texas Straight Talk 20 February 1997 verse 9 ... Cached
Some politicians realized that there is a lot of money sitting in those accounts - more than hundreds of billions of dollars, in fact. And the same politicians realized the federal deficit was growing by even larger sums of money thanks to unconstitutional spending at home, nation-building abroad, corporate welfare for big political donors, and pork projects.
corporate welfare
- Constitution must always be considered
01 September 1997 Texas Straight Talk 01 September 1997 verse 6 ... Cached
The first bill to be considered will be the Foreign Operations Appropriations Act for 1998. Congress began work on this measure back in July, but tabled it until now to avoid some partisan wrangling. This measure includes funding for such unconstitutional programs as overseas corporate welfare for big US corporations, funding for Bosnia activities, the UN's so-called peace-keeping missions in Sinai and Cyprus, and a wide variety of direct foreign aide packages. I introduced an amendment in July, which was voted down, to abolish some of the corporate welfare included in the measure. That amendment alone would have saved taxpayers more than $700 million dollars.
corporate welfare
- Congress continues to ignore Constitution in the appropriations process
29 September 1997 Texas Straight Talk 29 September 1997 verse 2 ... Cached
Corporate welfare must be stopped; troops in Bosnia unconstitutional
corporate welfare
- Congress continues to ignore Constitution in the appropriations process
29 September 1997 Texas Straight Talk 29 September 1997 verse 11 ... Cached
Under existing law, if the Ex-Im Bank is not re-authorized by midnight, September 30, it will vanish. If it is re-authorized, we'll have to continue putting up with the corporate welfare of Ex-Im until 2001. Rest assured I will be voting "no."
corporate welfare
- Congress continues to ignore Constitution in the appropriations process
29 September 1997 Texas Straight Talk 29 September 1997 verse 12 ... Cached
It's time we stopped corporate welfare, and while my position is not very popular on Capitol Hill, I have been committed for many, many years to leading the charge against this immoral fraud, and I will continue to do so.
corporate welfare
- US shouldn't cast stones with Religious Persecution
06 October 1997 Texas Straight Talk 06 October 1997 verse 5 ... Cached
So I suppose I could say I have good news and bad news this week. The good news is, the Ex-Im Bank no longer exists. The bad news is, Congress just changed its name - but the unconstitutional functions remain, despite the fact the bank is now technically out of "authorization." According to the legislation which created the corporate welfare mechanism we know as the Ex-Im Bank, the organization had to be re-authorized by midnight, September 30. But because of partisan wrangling over who is the bigger violator of campaign finance laws, the re-authorizing legislation was not considered. So while Congress will likely vote the bank back into official existence this week, for at least a couple days we are technically without Ex-Im.
corporate welfare
- US shouldn't cast stones with Religious Persecution
06 October 1997 Texas Straight Talk 06 October 1997 verse 6 ... Cached
The Congress did vote, as an amendment to the Export-Import re-authorization, to rename the organization the "United States Export Bank," or USEX. Subsidizing big corporations is unconstitutional and violative of the laws of free-market economics, no matter what Congress calls the mechanism. Those who are addicted to corporate welfare have no need to worry; USEX will be doing the same thing as Ex-Im.
corporate welfare
Legalized theft
09 August 1999 Texas Straight Talk 09 August 1999 verse 11 ... Cached
Several years ago I first proposed we stop this nonsense for it is simply unconscionable that Texas' family farmers are getting taxed to provide cover for multinational corporations' stupid decisions. Only a couple of my colleagues risked the wrath of the corporate interests back then. The first week in August, however, saw several dozen Members of Congress join me in protesting this egregious policy. Unfortunately, the bipartisan, pro-largess caucus still carried the day. However, I did notice that fewer Members of Congress seem as eager to defend corporate welfare.
corporate welfare
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.
corporate welfare
Free Trade Means No Tariffs and No Subsidies
30 July 2001 Texas Straight Talk 30 July 2001 verse 3 ... Cached
Congress recently considered several trade-related measures containing massive subsidies for American corporations that sell their products overseas. For example, the Export-Import bank received more than $750 million in appropriations funding last week. The biggest beneficiary of this money is China, which has used Ex-Im funds to build nuclear power plants, expand its state-run airline, and even build steel factories that compete directly with our own struggling domestic steel industry. Undoubtedly the American companies who benefit from contracts with China are happy with these trade subsidies, but American taxpayers should not be forced to pay for corporate welfare that simply benefits some politically favored interests. I introduced an amendment to completely defund the Ex-Im bank, because true free trade cannot flourish when subsidies interfere with healthy market competition. Unfortunately, however, the debate in Washington tends to focus on which nations and companies should be subsidized, rather than whether American taxpayers should pay for trade subsidies at all.
corporate welfare
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.
corporate welfare
Argentine Default and the IMF
14 January 2002 Texas Straight Talk 14 January 2002 verse 6 ... Cached
In truth, Congress funds the IMF because of the corporate interests it subsidizes. The huge multinational banks and corporations love the IMF. Big banks used IMF funds- taxpayer funds- to bail themselves out from billions in losses after the Asian financial crisis. Big corporations obtain lucrative contracts for a wide variety of construction projects funded with IMF loans. It's a familiar game in Washington, with corporate welfare disguised as compassion for the poor.
corporate welfare
Enron: Under-Regulated or Over-Subsidized?
28 January 2002 Texas Straight Talk 28 January 2002 verse 4 ... Cached
In truth, however, the problem was not the lack of government involvement with Enron, but rather the close relationship between Enron and government. Enron in fact was deeply involved with the federal government throughout the 1990s, both through its lobbying efforts and as a recipient of large amounts of corporate welfare.
corporate welfare
Enron: Under-Regulated or Over-Subsidized?
28 January 2002 Texas Straight Talk 28 January 2002 verse 7 ... Cached
Enron similarly benefitted 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.
corporate welfare
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.
corporate welfare
Welfare for the Left, Welfare for the Right, Welfare for the World
03 February 2003 Texas Straight Talk 03 February 2003 verse 5 ... Cached
Consider the call for hydrogen-powered cars. The administration wants to spend more than $1.2 billion tax dollars promoting hydrogen research. This is hailed as forward-thinking environmentally friendly policy, but really it’s just corporate welfare. No one considers that certain companies and lobbyists will benefit handsomely from this new government spending, or that American taxpayers might prefer to keep the money for themselves. If companies in the hydrogen industry get a billion dollars, what about other industries? Why should government favor one industry or technology, and who in government is qualified to choose?
corporate welfare
The Great Foreign Aid Swindle
24 May 2004 Texas Straight Talk 24 May 2004 verse 4 ... Cached
Foreign aid doesn’t help poor people; it helps foreign elites and US corporations who obtain the contracts doled out by those foreign elites. Everyone in Washington knows this, but the same lofty rhetoric is used over and over to sell foreign aid programs to a gullible public. During a hearing about the new Act last week, I asked one of the witnesses how much of the $2.5 billion would actually go to US corporations. He enthusiastically answered that much of it would, making no attempt to downplay the corporate interests promoting expansion of our foreign aid programs. Naked corporate welfare is bad enough, but corporate welfare in the guise of helping poor foreigners is indecent.
corporate welfare
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.
corporate welfare
The IMF Con
27 September 2004 Texas Straight Talk 27 September 2004 verse 5 ... Cached
The real purpose of the IMF is to channel tax dollars to politically-connected companies. The huge multinational banks and corporations in particular love the IMF, as both used IMF funds-- taxpayer funds-- to bail themselves out from billions in losses after the Asian financial crisis. Big corporations obtain lucrative contracts for a wide variety of construction projects funded with IMF loans. It's a familiar game in Washington, where corporate welfare is disguised as compassion for the poor.
corporate welfare
Deficts at Home, Welfare Abroad
07 November 2005 Texas Straight Talk 07 November 2005 verse 14 ... Cached
Constitutionally, of course, none of this spending is authorized. But there also is a strong moral case to be made against taking money from Americans and giving it to foreign governments. Foreign aid doesn’t help poor people; it helps foreign elites and US corporations who obtain the contracts doled out by those foreign elites. Everyone in Washington knows this, but the same lofty rhetoric is used over and over to sell foreign aid programs. Corporate welfare is bad enough, but corporate welfare in the guise of helping poor foreigners is indecent.
corporate welfare
Aging Infrastructure
27 August 2007 Texas Straight Talk 27 August 2007 verse 7 ... Cached
Infrastructure, in a capitalist model, is an asset worthy of maintaining to ensure continuity of revenue. In a government controlled model infrastructure is nothing but a cumbersome liability. This should be taken into consideration when developing plans to keep our current infrastructure safe. Privatization should be used to encourage maintenance and safety, and where private companies truly invest and bear the upfront costs in return for ability to collect tolls or usage fees in some form. But public/private partnerships that look more like corporate welfare must be avoided.
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.