Texas Congressman Ron Paul, a candidate for the Republican presidential nomination, released his “Restore America” plan at a Monday afternoon press conference in Las Vegas, Nevada. Paul’s “Restore America” plan includes $1 trillion in spending cuts during the Texas Congressman’s first year in office.
Paul also announced that as president he would take a salary of $39,336. This is a salary that is “approximately equal to the median personal income of the American worker,” Paul’s “Restore America” plan states. Paul’s pledge to take a salary of $39,336 is in stark contrast to the salary of a US president. President Obama makes $400,000 a year plus expenses.
In response to the release of the “Restore America” plan, Ron Paul 2012 National Campaign Chairman Jesse Benton said in a press release that “Ron Paul’s plan is the only one that seriously addresses the economic and budgetary problems our nation faces.” Benton added that “it’s the only plan offered by a presidential candidate that actually balances the budget and begins to pay down the debt.”
“America is the greatest nation in human history…But, we have drifted far from our founding principles, and America is in crisis,” the synopsis of Paul’s “Restore America” plan reads. “Through the bully pulpit of the presidency, the power of the Veto, and…the united voice of freedom-loving Americans, we can implement fundamental reforms,” the “Restore America” plan suggests.
Paul’s “Restore America” plan calls for $1 trillion in spending cuts, the elimination of five cabinet departments, the TSA, corporate subsidies, foreign aid and foreign wars. Paul’s “Restore America” plan would also allow young workers to opt out of contributions to entitlement programs.
In addition to these changes, Paul’s plan calls for a 10 percent reduction in the federal workforce and Congressional pay cuts. Paul would also lower the corporate tax rate to 15 percent. The “Restore America” plan also calls for an extension of all Bush tax cuts and an end to the Death Tax and taxes on personal savings.
Paul’s “Restore America” plan would repeal Obamacare, Dodd-Frank, and Sarbanes-Oxley. Finally, Paul would conduct a full audit of the Federal Reserve.
