Abolish the IRS, Income Tax and Federal Reserve to return to the Gold Standard

Tax Free Tips Act of 2007. HR 3664, 2007-09-25, originally HR 4408, 1998-08-05. Provides that tips shall not be subject to income or employment taxes.

Public Safety Tax Cut Act. HR 3303, 2007-08-01, originally HR 3124, 1999-10-21. Creates tax credit for police officers and professional firefighters, and makes public safety volunteer benefits nontaxable.

Cost of Government Awareness Act of 2007. HR 3601, 2007-09-19, originally HR 4855, 2000-07-13. Eliminates employer withholding tax and replaces it with monthly installment payment of income tax by employees, finding that withholding taxes are inherently deceptive and unfair and that they "hide the true cost of government from taxpayers, making tax increases more feasible".

Taxpayers' Freedom of Conscience Act of 2007. HR 1095, 2007-02-15, originally HR 1548, 2003-04-01. To prohibit any Federal official from expending any Federal funds for any population control or population planning program or any family planning activity.

Property tax: HR 4293, 2007-12-05, originally HR 5860, 2006-07-20. Creates income tax deduction for real property taxes.

Abolition of income tax: HJ 23, 2007-02-07. Proposing an amendment the Constitution of the United States relative to abolishing personal income, estate, and gift taxes and prohibiting the United States Government from engaging in business in competition with its citizens. Repeals the Sixteenth Amendment, income tax, estate tax, and gift tax, and limits the government only to Constitutionally authorized enterprises. Paul had proposed similar legislation in 1999-2000 and in 2001.^[3]

Lutetium oxide: HR 3731, 2007-10-02. To suspend temporarily the duty on lutetium oxide, an ingredient in laser crystals.

Sound Money

Coinage Act of 1983. Called for new legal-tender gold and silver coins. Ahead of its time, this Act anticipated the successful Gold Bullion Coin Act of 1985, which led to the minting of American Gold Eagles.

Gold standard, 1983: Attempted to reinstate the gold standard.

Coinage legislation, 1984: Sought to require Congressional approval of any new coinage and paper money designs, and formal retention of all test notes from the Bureau of Engraving and Printing.

Federal Reserve Board Abolition Act. HR 2755, 2007-06-15, originally HR 1148, 1999-03-17. Abolishes the Federal Reserve Board and repeals the Federal Reserve Act.

Honest Money Act. HR 2756, 2007-06-15, originally HR 2779, 2003-07-17. Repeals 31 U.S.C. 5103, the legal tender law that currently mandates acceptance of Federal Reserve notes as legal tender, in accord with hard money policy.

Sunshine in Monetary Policy Act. HR 2754, 2007-06-15, originally HR 4892, 2006-03-07. Requires the Federal Reserve Board to continue to publish the M3 monetary aggregate on a weekly basis. The Federal Reserve ceased publishing M3 statistics as of March 23, 2006, explaining that it costs a lot to collect the data but does not provide significantly useful information.

Make No Cents Until It Makes Sense Act. HR 4127, 2007-11-08. To amend title 31, United States Code, to prohibit the further minting of 1-cent coins until the Secretary of the Treasury and the Chairman of the Board of Governors of the Federal Reserve System certify in writing that there is not a surplus of 1-cent coins already available for use in transactions, and for other purposes. The U.S. Mint currently spends $.014, which is more than the face value, for each copper-clad zinc U.S. cent it produces. Paul joked, "We can't even afford a zinc standard anymore."

Free Competition in Currency Act of 2007. HR 4683, 2007-12-13. Strikes sections 486 and 489 of title 18, United States Code, due to "prosecutorial abuse". The Code sections effectively restrict private minting, and were cited by the FBI as justification for its November 2007 raid of Liberty Services, and its seizure of property allegedly including nearly two tons of precious metals and copper — much of which had been independently minted by Liberty Services with Paul's image. Paul commented, "If we don't do something about the dollar, the market will. I would like to legalize competition in currency."

Tax-Free Gold Act of 2008. HR 5427, 2008-02-13. To provide that no tax or fee may be imposed on certain coins and bullion. Prohibits taxation on gold, silver, platinum, palladium, or rhodium bullion and transactions, and state taxation on gold and silver legal tender currencies and instruments in interstate or foreign commerce.