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IPFS News Link • Politics: Libertarian Campaigns

Ron Paul: “I am the Commander in Chief”

 Watching the CNN-hosted New Hampshire debate on Monday evening, it became clear just how much different the 2012 Replican primary race is from 2008 and yet, how it is the same.

Like 2008, the field is littered with so-called conservatives who have been indelibly influenced by the rise of the neoconservatives, which peaked in 2004 and has, unbeknownst to its members, been in free-fall decline ever since.

At around the same point in the race four years ago, Ron Paul was relatively unknown except for a few hard-core followers. He made an impression back then in one of the early debates by repeating something he has said for years, that he would abolish the income tax given the chance.

1 Comments in Response to

Comment by Ed Price
Entered on:

If Ron Paul were elected President and abolished the Income Tax, what would happen?

This is a difficult subject. The income tax payment is the measure that the Fed uses to determine how much money it can loan Government. No more income tax may mean no more loans to Government, which may mean that the Federal Reserve Bank will need to get all of its funds from the loan repayments of the people.

But if there are no more income taxes, the people will have more money for free enterprise, which means they will need to borrow less. This whole thing might mean the demise of the Fed without formally shutting it down!

So where would the Government get its funds? From import/export and interstate commerce as the Constitution requires? From Governmental investments?

More than likely what will happen if Ron Paul goes through with his plan, he will wind up like JFK, who planned similar things.