WHAT I THINK....LAURA MILLIGAN

We’re almost exactly one year away from the actual 2008 presidential election, and candidates on all sides are gearing up for another intense, whirlwind season of campaigning and fundraising that will hopefully be rewarded with a spot in the White House. Americans are also stepping up to the plate, paying more attention to the candidates and agonizing which ones affect their lives the most. Entrepreneurs, for example, are looking for a president who will allow them optimum freedom to conduct their businesses the way they know best.

Republican candidate Ron Paul has been toted as the conservative Constitutionalist, a former doctor and longtime Congressman whose purist ideals have led him to pledge a scaled-back presence of the Federal government if he is elected president. How would this philosophy help entrepreneurs? While we’re not officially endorsing Dr. Ron Paul for president, we think these 10 issues would give entrepreneurs and their businesses an extra boost. Read on to find out how.

1. Ron Paul’s Tax Plan: One of Ron Paul’s most appealing points is his proposed tax plan. He opposes raising taxes and even plans to abolish the individual income tax and the federal income tax. Besides eliminating the debate over how much people in varying economic levels must pay in taxes, most Americans would obviously find themselves with a significant higher salary each year. With the extra cash flow, entrepreneurs would also have the ability to hire more employees, increase company spending on supplies, technology, and other resources, and improve their businesses overall.

2. Social Security for Americans Only Act: Ron Pauls’ Social Security revolution is one practice that would allow him to reduce taxes. According to Dr. Paul, “today[’s]…system is broke and broken.” Instead of pumping more American dollars into the Social Security system, Dr. Paul plans to limit the benefits given to Americans only, and not illegal aliens. This plan saves Americans money by decreasing the amount of dollars spent on Social Security benefits as a whole. In addition, Dr. Paul also intends to make Social Security optional for workers by “cut[ting] payroll taxes and” allowing them “the opportunity to seek better returns in the private market.” As payroll taxes are cut, employers no longer have to match a portion of the taxes taken out of each of their employees’ paychecks.

3. New Health Plan: In an effort to decrease government spending, Dr. Paul proposes a new health plan that eliminates many federal government-sponsored programs and plans like universal health care. As the “national leader in preserving Health Freedom,” Dr. Paul promotes a weaker FDA and the individiual’s right to choose what vitamins and foods he or she consumes. If the government stops spending Americans’ money on health care programs, entrepreneurs would notice a hefty salary increase.

4. Support of Hard Money: Inflation could very well be every entrepreneur’s worst nightmare. Business owners are forced to raise prices on all of their products as a result of paying more for basic goods and supplies, and consumers quake at the thought of overspending and instead keep their wallets tightly shut. To combat inflation, Ron Paul supports the idea of hard money, or money backed by gold and silver. If the United States operated on a hard money system, the Federal Reserve wouldn’t be able to print extra money, and Ron Paul beleives that inflation would disappear.

5. Against the Iraq War: Ron Paul is the only 2008 Republican candidate who voted against the war in Iraq. As an anti-interventionist, Dr. Paul would like to see the U.S. begin pulling out of Iraq and cut military spending. Entrepreneurs would enjoy improved relations with overseas business partners and contacts, debatedly lower gas prices that can dominate a small business’ budget, and slighter taxes that would otherwise be used to support the war.

6. Believes in Free Trade: A free trading system would benefit entrepreneurs immensely. Business owners would be able to maintain contacts, persue trades, maximize profits and access capital resources without interference from the government, which could impose tariffs, boycotts, or other regulations.

7. Opposes Welfare for Illegal Aliens: Just as Ron Paul plans to eliminate Social Security benefits for illegal aliens, he hopes to save Americans money by abolishing welfare benefits for illegal aliens. Dr. Paul believes in protecting Americans first and foremost, including financially. Limiting government-sponsored welfare programs cuts government spending, thus saving both struggling and booming businesses money.

8. Plan to Minimize the Role of the Federal Government: Ron Paul believes that states are more qualified and better-equipped to deal with supposedly localized issues like education and health care than the federal government. In addition to cutbacks in social funding, Paul also supports the liquidation of organizations like the IRS and the Department of Homeland Security in order to drastically decrease spending and put more money into other, more deserving projects and into the pockets of American citizens.

9. Supports a Free Internet: If there’s one technological resource that entrepreneurs value above all others, it’s probably the Internet. The Internet makes fundraising, networking, and reaching out to new customers excruciatingly easy, and Ron Paul recognizes its necessity. Dr. Paul’s own campaign has benefited from the Internet, and in an interview with PBS‘ The News Hour, he discusses how he has reached out to millions of younger voters through MySpace, Facebook, YouTube, and other member-driven sites. Perhaps his profitable experiences have led him to support the idea of a free Internet, an unregulated, uniterrupted Web community of individuals who socialize, conduct business, and earn their livelihood online.

10. Privacy and Personal Liberty: Ron Paul’s devotionto privacy and personal liberty makes him a popular candidate among entrepreneurs. He believes that business owners deserve a reasonable allocation of privacy as they work with customers, vendors, investors, and banks to support their business endeavors.

No matter which candidate you end up supporting in the coming months, entrepreneurs have a difficult decision to make. With threats of inflation, war with Iran, and an overall economic slowdown, these 10 points are worth considering.