Rand Paul on Corporations



No safety net cuts until corporate welfare is all cut

I believe we should do the opposite. I propose we cut everyone's taxes, from the richest to poorest, and we cut spending at the same time. Imagine a private stimulus fed by allowing you to keep more of your own money!

Some will ask, "But what of the safety net?" I say: We will not cut one penny from the safety net until we've cut every penny from corporate welfare!

So much of Washington's inability to cut waste in government comes from them not doing their job. It has been several decades since Congress passed all the spending bills individually. Instead, the spending bills are lumped together in something that is thousands of pages long. They allow no amendments to cut wasteful spending. Often the bill is plopped on our desk with only a few hours to review. No one, and I mean no one, is able to read what is in the bill. To fix this, I will introduce legislation called "Read the Bills Act." It mandates that Congress wait one day for each 20 pages of legislation.

Source: Tea Party response to the 2015 State of the Union address , Jan 20, 2015

Most small businesses fail, & government often picks wrong

In the marketplace, most small businesses fail. If government is to send money to certain people to create businesses, they will more often than not pick the wrong people and no jobs will be created.

Government spending doesn't work. It doesn't create jobs. Only the democracy of the marketplace can find those capable of creating jobs.

Source: Tea Party response to 2014 State of the Union address , Jan 28, 2014

Cut corporate tax in half to create millions of jobs

With my five-year budget, millions of jobs would be created by cutting the corporate income tax in half, by creating a flat personal income tax of 17%, and by cutting the regulations that are strangling American businesses. The only stimulus ever proven to work is leaving more money in the hands of those who earned it!
Source: Tea Party Response to 2013 State of the Union Address , Feb 12, 2013

Kelo decision was dangerous landmark in US law

Susette Kelo owned a house in New London, CT. In 1998, the pharmaceutical giant Pfizer began construction on a new plant in New London. The corporate giant convinced the city that it deserved the land in Kelo's neighborhood more than she and her neighbors did. The city utilized its power of eminent domain, which enables the local government to take private property and designate it for public use. Though Kelo was compensated, the government seized her property in the name of "local economic development."

In a horrific turn of events for private property owners across the US, the Supreme Court ruled in the favor of the City of New London in the case "Kelo v City of New London". This was a dangerous landmark decision in US law.

Source: Government Bullies, by Rand Paul, p. 78-79 , Sep 12, 2012

Punishing the rich means the poor lose their jobs

Mr. President, you say the rich must pay their fair share. When you seek to punish the rich, the jobs that are lost are those of the poor and middle class.

When you seek to punish Mr. Exxon Mobil, you punish the secretary who owns Exxon Mobil stock.

When you block the Keystone Pipeline, you punish the welder who works on the pipeline.

Source: 2012 Republican National Convention speech , Aug 29, 2012

Obama's "You didn't build that" insults American workers

When I heard the current president say, "You didn't build that," I was first insulted, then I was angered, then I was saddened that anyone in our country, much less the president, believes that roads create business success and not the other way around.

The great and abiding lesson of American history, particularly the Cold War, is that the engine of capitalism--the individual--is mightier than any collective. American inventiveness and desire to build developed because we were guaranteed the right to own our success. For most of our history, no one dared tell Americans: "You didn't build that."

When you say they didn't build it, you insult each and every American who ever got up at the crack of dawn. When the president says, "You didn't build that," he is flat out wrong. Businessmen and women did build that. Businessmen and women did earn their success. Without the success of American business, we wouldn't have any roads, or bridges, or schools.

Source: 2012 Republican National Convention speech , Aug 29, 2012

Stop subsidizing profitable large multinational corporations

Sen. Paul took to the Senate floor to introduce amendments that would reduce the scope, power, and corporate welfare functions of the Export-Import Bank. These amendments would essentially bring an end to the US government subsidizing loans to multinational corporations with taxpayer dollars.

TRANSCRIPT: I rise today in opposition to corporate welfare. At a time when our country is borrowing over a trillion dollars a year, I think it makes no sense to loan money back to countries we are borrowing from. For example, we borrowed $29 billion from Mexico, and yet we're sending them back $8 billion of the money we borrow from them to subsidize trade. A lot of the subsidized trade goes to very wealthy corporations.

We're not talking about starting new companies for the most part, we're mostly talking about subsidizing very wealthy multinational companies. With the start-up companies the export-import bank is subsidizing [companies that donate to federal officials and Obama].

Source: 2012 official Senate press release, "Subsidizing MNCs" , Mar 20, 2012

Expand lending caps for credit unions to small business.

Paul co-sponsored Small Business Lending Enhancement Act

Congressional Summary:

Supporter's Comments: (by CUNA, a pro-credit union organization)
America's small businesses are the engine of growth of our nation's economy. The effects of the financial crisis of the past few years have spread to all types of lending, resulting in a reduction in the availability of business credit. At a time when banks are withdrawing credit from America's small businesses, credit unions have actually been expanding credit to small businesses, but with more credit unions approaching the cap, this growth is threatened. Congress should enact legislation which increases the credit union member business lending cap from 12.25% of assets to 27.5% for well-capitalized credit unions

Opponent's Comments: (by the Independent Community Banks of America, Nov. 15, 2012)
The tax-subsidized credit union industry is pressing for doubling the statutory cap Congress placed on member business loans. Shifting assets from tax-paying banks to tax-exempt credit unions would reduce tax revenue to the government; the CBO estimates the revenue impact at $354 million over 10 years. We believe that banks are currently meeting the needs of credit-worthy businesses, as substantiated by numerous business surveys.

Source: HR1418 /S2231 12-S2231 on Mar 22, 2012

Rated 14% by UFCW, indicating a pro-management voting record.

Paul scores 14% by UFCW on labor-management issues

The United Food and Commercial Workers International Union (UFCW) is North America's Neighborhood Union--1.3 million members with UFCW locals in all 50 states, Puerto Rico and Canada. Our members work in supermarkets, drug stores, retail stores, meatpacking and meat processing plants, food processing plants, and manufacturing workers who make everything from fertilizer to shoes. We number over 60,000 strong with 25,000 workers in chemical production and 20,000 who work in garment and textile industries.

    The UFCW Senate scorecard is based on these key votes:
  1. American Jobs Act (+)
  2. Balanced Budget Amendment (-)
  3. Rejecting Cut, Cap, and Balance (+)
  4. Repeal Health Care Law (-)
  5. Sen. Am. 14 Wicker Am. to S 223, excluding unionization at TSA (-)
  6. Sen. Am. 740 McCain Am. to HR 2112, defunding TAA (-)
  7. Trade Adjustment Assistance Extension Act (TAA) (+)
Source: UFCW website 12-UFCW-S on May 2, 2012

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Page last updated: Mar 24, 2016