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Saturday, 22-Nov-2008 11:07:09 CST
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August
14, 2006 Very few people realize that China is one of the biggest beneficiaries of American taxpayer subsidies. Thanks to the largesse of Congress and the President, China enjoys subsidized trade and the flow of US tax dollars into Beijing's coffers. I offered an amendment before the House of Representatives last month that would have ended the $4 billion subsidy our nation quietly gives China through the US government's Export-Import Bank. The bank underwrites the purchases of goods and services by the Chinese government and others around the world. Unfortunately, only a minority of Democrats or Republicans supported my measure. Apparently, many members of Congress are happy to bash China, but dont mind lending her U.S. taxpayer money at sweetheart interest rates. Some of your money went to fund a nuclear power plant in Shanghai owned by the China National Nuclear Corporation, a state-run company. Many US-based multinational corporations benefit directly from Export-Import Bank subsidies to China, including Boeing, Westinghouse, and McDonnell Douglas. So its not hard to understand that business trumps the feelgood rhetoric condemning China. There is no constitutional authority for Congress to make loans to any country, and certainly no basis for giving away the hard-earned cash of Americans to communist leaders who brutalize their women and children with forced abortions, and persecute Christians for their faith. In reality,
there is very little the federal government can do about conditions in
China. Under our Constitution, the federal government simply does not
have the authority to point a gun at Chinese leaders and force them to
respect the principles of liberty. It just doesn't work that way. (Editor's Note: This tax subsidy is a vastly different thing than trade with China. A great many people get all worked up over WalMart and other stores that sell what China produces, but I've never heard one of them protest the outright subsidy of the Chinese government with our stolen tax money! You can choose not to buy Chinese products, but you can't choose not to support their government - any more than you can choose not to pay tax to the criminals in various government units (unless you can live totally underground, of course). Isn't it about time we started fighting the right battles?)
(Republished with special permission) |
See all of Ron Paul's articles at his web site. Federal Reserve Policy Destroys the Value of Your Savings IRS Threatens Political Speech What Congress Can Do About Higher Gas Prices
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