Sen. Rand Paul introduces ‘Economic Free Zones’ to Detroit Economic Club
On Friday, Senator Rand Paul (R-KY) presented a plan to the Detroit Economic Club that provides depressed or bankrupt areas with new economic opportunities.
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Different from big government stimulus plans, the Economic Free Zones “removes the shackles of Big Government by reducing taxes, government regulations and burdensome union work requirements”.
Paul states, “I propose a stimulus that simply leaves more money in the hands of those who’ve earned it.”
Economic Freedom zones are a bold variant of the enterprise zones first promoted by Congressman Jack Kemp. Kemp’s words still ring true, “By giving people access to capital and allowing them to take ownership of assets, entrepreneurship will be encouraged and the cycle of poverty can begin to be broken. All persons should have the opportunity to go as high as their merit and determination can carry them…”
The Senator says is a press release, “Economic Freedom Zones will dramatically reduce taxes and red tape so that families and businesses in Detroit and cities like it can grow and thrive. The answer to poverty and unemployment is not another government bailout; it is simply leaving more money in the hands of those who earned it. The Economic Freedom Zones Act of 2013 will do just that.”
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