Ron Paul Warns Middle Class Being “Wiped Out” In Final Debate

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Congressman calls inflation “most evil tax”

In the final Republican debate before the 2008 primaries, Congressman Ron Paul slammed the destruction of the dollar, warning that inflation was wiping out the middle class, while also pointing out that Americans did not need to reduce their standard of living so long as a foreign policy of funding a ballooning empire was changed.

“The most sinister of all tax is the inflation tax and it is the most regressive – it hits the poor and the middle class,” said the Congressman.

“When you destroy a currency by creating money out of thin air to pay the bills, the value of the dollar goes down and people get hit with a higher cost of living – it’s the middle class that is being wiped out – it is the most evil of all taxes,” he added. Watch the highlights of the Congressman’s responses during the debate in Iowa.

Speaking on the issue of the economy, Paul said that America was in the midst of a currency crisis because it had spent well beyond its means attempting to maintain an empire, but that didn’t mean the American people should sacrifice their living standards to foot the bill.

“I think it’s absolutely unnecessary to sacrifice, we want to give people more freedom, more chance to spend their own money – we can cut by looking at our foreign policy, we maintain an empire which we can’t afford – we have 700 bases overseas, we are in 130 countries – we cut there – and then we have a better defense of this country and the people get that money and get to spend it here at home,” said Paul.

With the debates over, the focus now shifts to this weekend’s massive fundraising drive in the guise of the 2007 Tea Party.

Betting analysts predict that the Congressman is set to make $6-10 million on one day – the 16th – which would eclipse John Kerry’s $5.7 million in one day record.

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