Mitt Romney has a plan. Herman Cain has a plan. Now Ron Paul has published a plan.

These plans are not entirely comparable, as each addresses different issues, so note that this post is not intended to be a comprehensive analysis. Rather, it is intended to show that the plans cannot necessarily be compared.

Romney’s plan is focused on supply side, or job creation, not federal spending or receipts (somewhat assuming the job creation helps to fix those issues).

Cain’s plan is intended to be revenue neutral, but does not reduce federal spending, leaving us at our current deficits and adds yet another means for the federal government to tax Americans (also somewhat assuming job creation through his simplified plan fixes the spending issues).

Paul’s plan cuts both revenue and spending, but more so spending to the point of a balanced budget within three years without addressing all the loopholes in the federal income tax while reducing the corporate tax to 15%, rather than 9% plus 9% sales tax (which may be seen or unseen in total retain prices, dependent upon price elasticity).

Despite the plans not being exactly comparable, if there would be one to select, it would be Paul’s plan. It is mathematically impossible to reduce our debt by increasing taxes (revenues). Paul’s plan addresses this through significant budget cuts. Additionally, I would much rather see a 15% corporate tax than yet another tax in the form of a national sales tax because the federal government rarely relinquishes any means of taxation.

Highlights of Paul’s plan are after the jump.

-Balanced budget within three years

-Cuts $1 trillion in spending year one

-Honors our promise to our seniors and veterans, while allowing young workers to opt out

-Makes a 10% reduction in the federal workforce, slashes Congressional pay and perks, and curbs excessive federal travel. To stand with the American People, President Paul will take a salary of $39,336, approximately equal to the median personal income of the American worker.

-Lowers the corporate tax rate to 15%, making America competitive in the global market. Allows
American companies to repatriate capital without additional taxation, spurring trillions in new investment. Extends all Bush tax cuts. Abolishes the Death Tax. Ends taxes on personal savings, allowing families to build a nest egg.

-Repeals ObamaCare, Dodd-Frank, and Sarbanes-Oxley. Mandates REINS-style requirements for thorough congressional review and authorization before implementing any new regulations issued by bureaucrats. President Paul will also cancel all onerous regulations previously issued by Executive Order.

-Conducts a full audit of the Federal Reserve and implements competing currency legislation to strengthen the dollar and stabilize inflation.

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