Joined: 20 Mar 2010
|Posted: Fri Feb 20, 2015 9:15 am Post subject: Constitutional Economics
Constitutional Economics is simply an economic system based on the Constitution. We should only be funding our Constitutionally authorized functions and duties. It is based on the Constitutional powers of Government. Those powers, for the most part are found in Article I, Section 8 of our Constitution....
|The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate commerce with foreign nations, and among the several states, and with the Indian tribes;
To establish a uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the United States;
To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;
To provide for the punishment of counterfeiting the securities and current coin of the United States;
To establish post offices and post roads;
To promote the progress of science and useful arts, by securing for limited times to authors and inventors the exclusive right to their respective writings and discoveries;
To constitute tribunals inferior to the Supreme Court;
To define and punish piracies and felonies committed on the high seas, and offenses against the law of nations;
To declare war, grant letters of marque and reprisal, and make rules concerning captures on land and water;
To raise and support armies, but no appropriation of money to that use shall be for a longer term than two years;
To provide and maintain a navy;
To make rules for the government and regulation of the land and naval forces;
To provide for calling forth the militia to execute the laws of the union, suppress insurrections and repel invasions;
To provide for organizing, arming, and disciplining, the militia, and for governing such part of them as may be employed in the service of the United States, reserving to the states respectively, the appointment of the officers, and the authority of training the militia according to the discipline prescribed by Congress;
To exercise exclusive legislation in all cases whatsoever, over such District (not exceeding ten miles square) as may, by cession of particular states, and the acceptance of Congress, become the seat of the government of the United States, and to exercise like authority over all places purchased by the consent of the legislature of the state in which the same shall be, for the erection of forts, magazines, arsenals, dockyards, and other needful buildings;--And
To make all laws which shall be necessary and proper for carrying into execution the foregoing powers, and all other powers vested by this Constitution in the government of the United States, or in any department or officer thereof.
Unless there are powers in Amendments, this is all our Government has the authority to do. And this is all we should be funding. However, I believe there is spending not specifically written in the Constitution that are within the spirit of the Constitution. For example, Aviation. I am certain if there were planes in the late 1700s, they would have addressed aviation.
Whatever we fund must be of a National scope. That's what I call the spirit of the Constitution. That's why I say we need to regulate aviation. Can you imagine 50 States regulating aviation within their States? A plane can take off in Philadelphia, climb to 25,000 feet as per Pennsylvania State Law. Then when it reaches Ohio air space, it has to go to 20,000 feet. Then when it reaches Indiana air space, it has to go to 35,000 feet as per Indiana State Law. Now, does that make sense? It is obvious there has to be National regulation of aviation. I believe the founding fathers would agree. The Federal Government was initially designed to take care of things of a National scope. As a way for the States to cooperate.
The legal definition of the word "federation" is, "A joining together of states or nations in a league or association; the league itself. An unincorporated association of persons for a common purpose." http://legal-dictionary.thefreedictionary.com/federation The United States is a federation built from the States up. Not the other way around. The purpose for the Federal Government is to do those things the States must be in union to do. Otherwise, the States are to be free and independent. And the Federal Government must only fund those things that States must be in union to do. That does not include Education or Healthcare, among other things.
That is my understanding of Constitutional Economics when it comes to spending, which is a huge point of contention. The reason it is a point of contention is that the Federal Government, led by Congress to spend beyond what the Constitution authorizes. If the President and the Congress upheld their oaths, this should not be much of a contention, except maybe how much.
Another part of Constitutional Economic is the fact the Congress has the power to collect taxes, not the IRS. Congress has the power to coin money and regulate the value of it. And. based on the first paragraph of Section 10, that money should only be gold and silver coins.
If we applied Constitutional Economics today, it would solve all of out economic problems. And if we don't solve our economic problems, our economy will collapse.