Thursday, September 25, 2008

America's Founders' Financial Advice

A few simple but powerful financial solutions from Chuck Norris.

“Turn back the financial clock 200 years and return to the fiscal prudence of our Founding Fathers.”

Five basic approaches to fiscal management.

“The 10th Amendment restricts the size of government, and that always should bear out in spending and the federal budget...income and export taxes were unconstitutional to our Founders...

Don't bail out debt with more debt. George Washington wrote in 1799 to James Welch, "To contract new debts is not the way to pay for old ones...." Have a pay-as-you-go government. If we don't have the money, we shouldn't spend it. Period...

Minimize taxes to citizens. Our earliest government's primary tool to raise revenue was from tariffs... abolish the unconstitutional Internal Revenue Service and implement a "fair tax," which doesn't penalize productivity and will bring American manufacturing back within our borders..." "Taxes on consumption are always least burdensome because they are least felt and are borne, too, by those who are both willing and able to pay them; that of all taxes on consumption, those on foreign commerce are most compatible with the genius and policy of free states." James Madison

Get over the greed...

Norris says "If you get in a pinch, go back to the basics."

“...Recall unconstitutional congressional incumbents; and rise up and elect above-reproach, non-greedy and selfless representatives who aren't afraid to stand up to governmental status quo and corruption, will vote for constitutional restrictions of government, reduce big government (deficits, budgets, spending and taxes), reform the tax code (by providing a "fair tax" or its equivalent) and fight for a constitutional amendment that would mandate a balanced federal budget.”

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