RON PAUL’S “PLAN TO RESTORE AMERICA” …And how it will help Nevadans
America is in trouble. We have overtaxed, overspent, and overregulated, and we must now choose to either dramatically change course or lose what once made us the freest and most prosperous nation in history.
In October, here in Nevada, Dr. Paul released his bold “Plan to Restore America.” Combining cuts in taxes and regulations with a one-year, trillion-dollar cut in federal spending, President Paul would balance the budget in his first term and get America back on track.
Now, Dr. Paul is highlighting how his plan will help Nevadans by creating jobs, and he is also offering additional solutions to get the Silver State’s economy rolling once again.
The Paul Plan to Restore Nevada’s Job Market
Immediately upon taking office, President Paul will order all federal agencies to stop imposing new regulations and will begin working to repeal unconstitutional, job-destroying laws and regulations. Ron Paul is the only candidate who has pledged to shrink the federal register.
As President, Ron Paul will:
- Stop taxation on the re-importation of American capital from overseas. Right now, thanks to the IRS, millions of dollars that could be invested in America are sitting overseas. Ron Paul will end the tax laws that prevent this capital from coming back to America, where it can be invested in new job-creating endeavors.
- Allow individuals to make penalty-free withdrawals from their IRAs and 401(k)s to start or invest in new businesses, providing a ready source of capital to many would-be entrepreneurs who are having trouble raising funds to start their businesses due to the current government-created financial crisis.
- Repeal Sarbanes-Oxley and Dodd-Frank, two unconstitutional laws that have drained America’s capital markets of at least a trillion dollars in capital that could have been used to start new businesses and create new jobs.
- Support a National Right to Work law to protect American workers from being forced to submit to the union bosses’ job-destroying agenda.
- Repeal President Obama’s job-destroying health care law and replace it with health care tax credits and tax cuts to restore freedom for individuals to control their health care.
- Reduce corporate and capital gains taxes to spur private investment.
- Begin to put a stop to the Federal Reserve-created boom-bust cycle, which is responsible for unemployment and inflation, by conducting a full audit of the Federal Reserve and allowing the American people to use alternative currencies.
The Paul Plan to Restore the Housing Market
Nevada is one of the states hit hardest by the collapse of the housing bubble. Currently, 62 percent of homes in Nevada that carry a mortgage are upside down.
The Federal Reserve’s inflationary policies, combined with the distortions in the housing market brought about by institutions like Fannie Mae and Freddie Mac, sent the wrong signal to many Americans regarding the wisdom of purchasing expensive homes. It is clear that four years of bailouts and continued taxpayer-funded housing programs have failed to stabilize the housing market.
As President, Ron Paul will work to end taxpayer support for institutions like Fannie Mae and Freddie Mac and to stop all government distortion of the housing market, allowing the market to adjust and recover from the damage inflicted by the federal government.
Congressman Paul will also work to help distressed homeowners by:
- Extending the first-time homebuyer tax credit to help Americans use their own resources to purchase their first home.
- Providing tax credits to those who have suffered foreclosure that would make the path to new, more affordable housing much easier.
- Allowing individuals to make penalty-free withdrawals from their IRAs and 401(k)s to purchase a home.
- Preserving the mortgage interest deduction for the first year of his presidency and never signing any legislation to repeal this deduction unless it is part of a broader tax reform measure of equal or greater value to America’s families.
- Restoring the property tax deduction for those who do not itemize deductions on their tax returns.
- Repealing capital gains on sales of private homes and commercial properties.
- Ending all taxes on savings to allow people to save for a home and buy a new home, as well as make it easier for businesses to save to develop new commercial properties and create new jobs.
- Allowing homeowners to take a capital loss deduction if they sell a home for less than they paid for it.
The Paul Plan to Restore Tipped-Worker Wages
Almost 20 percent of Nevada workers hold jobs that generate tip income. Under the Paul Administration, tips would become tax-free, providing an instant pay raise.
Tips often represent a substantial portion of the income of waiters, waitresses, hotel and casino employees, and other service-sector employees. However, unlike regular wages, a service-sector employee usually has no guarantee of, or a legal right to, a tip. Instead, the amount of a tip usually depends on how well an employee satisfies a client. Since the amount of taxes one pays increases along with the size of the tip, taxing tips punishes workers for doing a superior job.
Many Nevadans working in the service sector are young people trying to pay for their education, or single parents trying to provide for their children. Oftentimes, they work two jobs to achieve a better life for themselves and their families. Repealing the tax on tips is a common-sense way to give these Nevadans a pay raise.
The Paul Plan to Restore a Common-Sense Visa System
Tourism is a foundation of Nevada’s economy. Overly complex and time-consuming federal procedures for obtaining even a simple visa to visit the U.S. on business or tourism are causing Nevada’s hotels, restaurants, airports, cabs, and other businesses to lose revenue from potential overseas visitors. For example, many potential visitors to the United States must wait as long as 100 days after filing a visa application to get an interview. Many travelers, fed up with the wait time and bureaucracy, are sending their travel dollars and convention business to Asia and the Middle East, a decision that could cost America as much as $600 billion per year and 1.3 million jobs by 2020.
As President, Ron Paul will work with industry, relevant federal agencies, and Congress to reform the cumbersome visa process. His campaign staff has reached out to the U.S. Travel Association to consider their views on the issue, and Congressman Paul will adopt many of the ideas contained in their “Ready for Takeoff Proposal,” such as:
- Adopting a flexible staffing model to build a corps of “Limited Non-career Appointment” (LNA) consular officers dedicated to processing visas in high-growth markets.
- Reassigning consular officials to high-demand countries.
- Making greater use of technologies such as videoconferences for online interviews.
- Dedicating LNA consular officers to processing visa applications, offering extended interview windows to reduce wait times to 10 days, and employing double-shifts to make greater use of existing interview space.
- Providing an option to expedite visas at a higher cost that is sufficient to cover expanded visa processing capacity at consular offices.
- Allowing existing visa holders, such as business travelers, to renew visas in the United States instead of having to return to their home countries.
- Conducting annual evaluations of visa personnel to indicate the efficiency, effectiveness, and consumer friendless of the visa application process.
- Improving tracking of applicant backlogs to provide more reliable information and to better understand and manage workload, staffing, and data processing requirements.
In addition, President Paul will work to:
- Eliminate the Transportation Security Administration (TSA), which treats all passengers as criminal suspects. Instead of this unconstitutional bureaucracy, responsibility for airline security should be returned to the airlines and airport operators, which have incentives to protect their passengers’ safety without subjecting them to privacy violations. Private airlines should have the ability to establish trusted traveler programs.
- Increase resources devoted to border security and restrict immigration from countries on the State Department list of state sponsors of terrorism, while working to relax bureaucracy surrounding business and tourism travel from allies such as Taiwan.
The Paul Plan to Give Nevada Back To Nevadans
It is impossible for the people of Nevada to fully develop their economic potential when the federal government controls over 85 percent of Nevada’s land. A key part of Congressman Paul’s Plan to Restore America is to eliminate the unconstitutional Department of the Interior and dramatically reduce the federal government’s land holdings. This will enable the people of Nevada to decide for themselves how best to use the land without having to seek permission from federal bureaucrats.