Economic Liberty

All members of society should have abundant opportunities to achieve economic success. A free and competitive market allocates resources in the most efficient manner. Each person has the right to offer goods and services to others on the free market. The only proper role of government in the economic realm is to protect property rights, adjudicate disputes, and provide a legal framework in which voluntary trade is protected. All efforts by government to redistribute wealth, or to control or manage trade, are improper in a free society.

As respect for property rights is fundamental to maintaining a free and prosperous society, it follows that the freedom to contract to obtain, retain, profit from, manage, or dispose of one’s property must also be upheld. As your Senator I would work to free property owners from government restrictions on their rights to control and enjoy their property, as long as their choices do not harm or infringe on the rights of others. Eminent domain, civil asset forfeiture, governmental limits on profits, governmental production mandates, and governmental controls on prices of goods and services (including wages, rents, and interest) are abridgments of such fundamental rights. For voluntary dealings among private entities, parties should be free to choose with whom they trade and set whatever trade terms are mutually agreeable.

All persons are entitled to keep the fruits of their labor. As your Senator I will call for the repeal of the income tax, the elimination of the Internal Revenue Service and all federal programs and services not authorized under the U.S. Constitution. I will oppose any legal requirements forcing employers to serve as tax collectors. Government should not incur debt, which burdens future generations without their consent. I will support the passage of a “Balanced Budget Amendment” to the U.S. Constitution, provided that the budget is balanced exclusively by cutting expenditures, and not by raising taxes.

As your Senator I would favor free-market banking, with unrestricted competition among banks and depository institutions of all types. Markets are not actually free unless fraud is vigorously combated. Those who enjoy the possibility of profits must not impose risks of losses upon others, such as through government guarantees or bailouts. Individuals engaged in voluntary exchange should be free to use as money any mutually agreeable commodity or item. I will support and propose a halt to inflationary monetary policies and unconstitutional legal tender laws.

Simply put, I support free markets. I will defend the right of individuals to form corporations, cooperatives and other types of entities based on voluntary association. As a Senator, I would oppose all forms of government subsidies and bailouts to business, labor, or any other special interest.

Employment and compensation agreements between private employers and employees are outside the scope of government, and these contracts should not be encumbered by government-mandated benefits or social engineering. I would support the right of private employers and employees to choose whether or not to bargain with each other through a labor union. Bargaining should be free of government interference, such as compulsory arbitration or imposing an obligation to bargain.

Retirement planning is the responsibility of the individual, not the government. As your Senator I would work to phase out the current government-sponsored Social Security system and transition to a private voluntary system. The proper and most effective source of help for the poor is the voluntary efforts of private groups and individuals.

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