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Rand Paul's economic plan: 'over a billion dollars would be left in Detroit'

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Making a point that government should not be picking the winners and losers in our nation's economy, U.S. Senator Rand Paul says he wants to let the free market work in economically depressed cities like Detroit, as well as other cities around the country.

"What we’ve done is devised dramatic reductions in taxes for any community that has unemployment one and a half times the national average,"Senator Paul is quoted in a recent article at Breitbart.com. Further, he stated:

"We’d reduce taxes so significantly that Detroit would have enough of her own money left in Detroit and not sent to Washington that we think it’d provide a stimulus and help her get out of the hole.”

The Senator has spent this week speaking about his plan for "economic freedom zones."

Rebuffing the argument that "more government money" poured into inner cities will somehow make a difference, Paul told Fox News Sunday's Chris Wallace this weekend:

"Well, Chris, it hasn't worked. I mean, the president poured $1 trillion into the nation's economy. And when you divided it out, it was about $400,000 per job. The problem with a government stimulus is you pick the winners and losers. With this stimulus that I'm talking about, a free market stimulus, you simply leave the money in the hands of those who earned it. So the customers have actually picked out the successful people, the ones they choose to buy products from. Those people get more money."

Main points in Senator Paul's plan:

  • Set a flat individual and corporate tax rate in the depressed areas of 5 percent
  • Give parents more school choice and education tax credits
  • Loosen visa rules to encourage foreign entrepreneurs to open businesses

Paul: 'I don’t think we’ve treated people fairly'

Describing Paul as "a libertarian-leaning Republican from Kentucky," coverage in the recent DetroitFreePress article quoted him about the stimulus plan:

“It’s about economic empowerment, education and school choice … and criminal justice. It’s important that we talk about this, because I don’t think we’ve treated people fairly.”

The national “war on drugs,” was also a big issue for Paul. The story from the Press mentioned how whites, blacks and Hispanics use drugs in comparable numbers “but we’re disproportionately incarcerating blacks.”

Earlier this year, Rand was quoted in a story online at MarketWatch stating that his party had grown "stale and moss-covered," and that Republicans should be paying attention to young voters who want to be heard on their opposition to bank bailouts and desire to decriminalize drug use.

The fact that Paul's popularity has grown after an almost 13 hour-long filibuster on the Senate floor, opposing the White House's drone program, was also mentioned in the MarketWatch story. But the Senator was also quoted as stating:

"We need a Republican Party that shows up on the south side of Chicago and shouts at the top of our lungs, we are the party of jobs and opportunity."

From the Breitbart.com article, Paul stated his plan would be able to save Detroit without a federal government bailout:

“And the thing that makes this better than a government bailout or a government stimulus is that if we take let’s say a billion dollars from Houston and we send it to Detroit by way of Washington, some of it gets squandered and lost in the bureaucracy of Washington. Somewhere in Washington, some central planner needs to figure out who to send the money to in Detroit. He sends the money to his friends. They aren’t necessarily the best people in business; they just happen to be friends of the president. So that’s what happened when the president sent out a trillion dollar stimulus a couple years."

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