Ron Paul, U.S. Congressman representing the 14th district in Texas, wrote an article for Forbes.com on Friday, May 15th calling for the audit of the Federal Reserve.
He starts out by stating, "Trillions of dollars worth of loans and guarantees have been provided to Wall Street firms, while Main Street Americans suffocate under harsh taxation, the prospect of higher debt levels and increasing inflation."
Suffocating under harsh taxation? You think taxes in the U.S. are oppressive? Try living in Germany, UK, Australia, Austria, Belgium, Denmark, Israel, Sweden, or any other country where the quality of life is decent. Check Wikipedia's report on Tax Rates around the world and tell me that we're suffocating.
Paul further stated that he was, "... a proponent of eliminating the Federal Reserve System altogether," but never offers an alternative solution. If Congress wants to audit the Fed, its fine with me, but let's try to understand the ultimate objective before we start marching down that road.