Posted on 08/15/2006 8:01:32 AM PDT by jmc813
Each year the people of the United States write a check to subsidize China, one of the most brutal, anti-American regimes in the world. Lately it has been in vogue for everyone in Washington to eagerly denounce the egregious abuses of the Chinese people at the hands of their communist dictators. Yet no one in our federal government has been willing to take China on in any meaningful way.
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 don’t 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 it’s 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.
I believe that by engaging the Chinese people, opening personal dialogue, and seeking to change their hearts and minds, we soon will see that regime collapse. The laws of economics dictate that a communist system cannot stand for long. But in the same way, I firmly believe there is a higher law which dictates that people exposed to the principles of liberty will not for long allow themselves to remain shackled to an oppressive government. Economic freedom, i.e. capitalism, now has a strong foothold in China. The Chinese people may soon demand political, religious, and personal freedom as well. But in the meantime let’s stop sending tax dollars to support a government we claim to despise.
Makes a person LOVE the idea of paying taxes.
I'm with him bump...
The more Ron Paul I read, the more I like the guy.
I make two political contributions each year. NRA and Ron Paul.
Billions to China? Unbelievable.
I'm pretty sure China buys a lot of our t-bills
http://www.republic-news.org/archive/104-repub/104_potvin_china.htm
Rep. Paul should instead focus on reducing Federal spending so we don't have to rely on China buying US Treasury notes to finance Washington's fiscal negligence.
"Thanks to the largesse of Congress and the President, China enjoys subsidized trade and the flow of US tax dollars into Beijing's coffers. "
But, but... wait! Can I still buy cheap crap at WalMart?
Is my portfolio going up if I invest in companies that offshore?
Are we putting "lazy" Americans out of work in favor of employing Chinese, (often times in hazardous conditions)?
Can politicians depend on Chinese lobbies to fund them, and get them to legislate in the best interest of China?
Yes, yes, yes and yes??
*Whew* I thought there was some bad news here.
Does anyone here not believe a Tiananmen Square style stomp on it's people could not happen tomorrow if the Chinese Communists felt it was necessary to stay in power?
Kudos, Ron. Just the tip of the iceberg, though. The $2 billion/yr. we give Egypt and hundreds of millions/yr. to nations like Turkey, Jordan, and Pakistan are abominations as well.
I think a naval embargo, including all the ports controlled by China here in the USA would be a good idea.
Yep, as naive as thinking that it's possible to reconstruct the Muslim world in our image and successfully "win their hearts and minds."
Export-Import Bank does NOT give a $4 billion subsidy to China.
The bank provides loan guarantees that provide the funding to allow US companies to export their products and services to other countries, including China.
So where is it a bad thing to help US companies export? Maybe I missed something in my economics classes along the way, but I thought exports were good.
Just fill in the blank:
Our taxes subsidize ___________________.
What On Earth do they NOT subsidize?
You are correct!
"The bank provides loan guarantees that provide the funding to allow US companies to export their products and services to other countries, including China. "
Export products and services... or export their jobs?
(I honestly don't know the answer).
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