Mitchell’s laws:
●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor, which leads to civil disorder.
●Cutting the deficit is the government’s method for taking dollars from the middle class and giving them to the rich.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The penalty for ignorance is slavery.
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Here are five proofs showing why the federal deficit should be cut:
Oh, sorry, but you never will see even one proof. Not from any politician. Not from any media writer. Not from any economist. Not from me. You may see general comments like, “It’s unsustainable.” Or, “We’re broke.” Or, “We can’t keep spending forever.” Or, ‘One day, we’ll be like Zimbabwe.” Or, “If you have to live within your means, so should your government.”
But never will you see or hear specific evidence. Why? Because such evidence does not exist. There are no data to support the contention that the federal deficit should be cut. There only are opinions, and all those opinions merely equate federal debt with private debt, demonstrating ignorance of the differences between Monetary Sovereignty and monetary non-sovereignty.
Our federal politicians and our media are controlled by the upper 1% income group, whose primary objective is not merely to increase their own income, but far more importantly, to increase the gap between the 1% and the 99%. For them, it’s not enough to go up; they want you to go down. The gap is everything.
Sadly, even many knowledgeable people find it difficult to believe the 1% intentionally would injure the middle- and lower-classes, just to widen the gap. Perhaps this article will come as an awakening:
Congress charts new collision course over deficit
Senate Dems eye new taxes, GOP seeks deeper spending cuts
By Charles Babington, Associated Press | Associated PressWASHINGTON (AP) — The nation’s sharp disagreements over taxes and spending are on a re-routed collision course, as Senate Democrats launch a plan that includes new taxes and House Republicans vow to speed up their plan to balance the federal budget with spending cuts alone.
The Republicans’ new approach would require even deeper cuts in social programs than they pushed last year. Liberals denounced those earlier plans as severe and unfair, and they say the new version would be worse.
Translation: Both sides wish to cut the deficit, though the Republicans, more devoted to the rich even than the Democrats, wish only to cut spending on social programs – Social Security, Medicare, Medicaid, food stamps and other poverty aids – anything that helps the 99%. This is the fastest, easiest way to widen the gap.
It’s possible that both parties will continue to find ways to postpone and minimize tough decisions on taming the deficit.
Translation: The media (owned by the 1%) say the deficit needs “taming.” Why? No one knows. It just does. They know if they tell a lie often enough, it assumes the mantle of truth in the public mind.
“The American people will have a chance to compare the two approaches,” said Rep. Trent Franks, R-Ariz., who wants deep spending cuts and no new taxes. The only way to shrink the government, he said, “is to choke the monster.”
Translation: We must “tame” and “choke the monster.” Who is the monster that needs taming and choking? The middle- and lower-income classes, whom the 1% regards with contempt.
House Republicans now vow to balance the budget in 10 years without tax hikes. They say the methods might include reducing future benefits for Medicare, and possibly Social Security, for people now in their late 50s, rather than those 55 and younger.
Translation: “The rich, who pay us politicians for our votes, don’t need Social Security and Medicare. Knowing that the 99% relies on these programs, the 1% wants us to cripple them. So that is what we’ll do.
The search for savings must “move over into entitlement spending” more so than before, said Rep. John Fleming, R-La.
Balancing the budget in 10 years without tax increases would require deep spending cuts, causing many analysts to view them as politically near-impossible. But House conservatives say aiming for that goal is important. They demanded this week that GOP leaders agree to balance the budget in 10 years as the conservatives’ price for supporting the three-month extension of federal borrowing powers.
Translation: “We’ll ask for $5 trillion in social spending cuts, and then, when we settle for cutting “only” $4 trillion, the voters with thank us for being generous. We agreed to ignore the idiotic debt ceiling for three months, in return for destroying the middle- and lower-income groups. Seems like a fair exchange.”
House Budget Committee Chairman Paul Ryan’s earlier plans would have changed Medicare into a voucher-like program with limited government contributions to health care for seniors. His plans, endorsed by most House Republicans, also would have given states full responsibility for running Medicaid — the health care program for the poor — with a reduced federal contribution.
Translation: “We also will destroy state finances. State spending is heavily weighted toward the 99%. And we don’t care if the states raise taxes. We rich people don’t pay state taxes. Heck, we don’t even have earnings or bank accounts in America. Ask Mitt Romney.”
Democrats, including President Barack Obama, say new tax revenues must be part of any eventual bipartisan budget accord. “As we go forward to reduce the deficit, we need growth and job creation, we need spending cuts, we need revenue,” Pelosi said during Wednesday’s House debate.
Translation: “We increased FICA a full 2% which will take billions from consumers and businesses. That will stimulate economic growth and job creation. Then we’ll take more tax billions out of the economy, which will stimulate more growth and job creation. Don’t ask me how this works. Just trust me.”
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Summary: If you think the President of the United States, the Secretary of the Treasury, the Chairman of the Federal Reserve, the Council of Economic Advisers and their 500+ PhD economists, plus every single one of the 535 Congress people, and all their assistants all without exception, do not know that taking money from the economy will hurt the 99% – I have a bridge I’d like to sell you.
And further, if you think not one of these thousands of educated people do not understand that cutting social programs hurts the middle- and lower-income groups far more than the rich – I have some genuine diamonds I’d like to sell you.
And even further, if you think not one of these thousands of smart people is familiar with Monetary Sovereignty or MMT – I’d like you to invest in the lottery I’m running.
And finally, if you think these political creatures are not affected by the billions in political contributions and the promises of lucrative jobs – I am a Nigerian prince who has a million dollar deal for you.
Bottom line: The 1% are paying billions to widen the income gap by screwing you, the 99%. It’s not ignorance. It’s intentional. It’s a well-thought-out scheme created by some very smart people.
The 1% are planning a feast, and you are the main course.
Rodger Malcolm Mitchell
Monetary Sovereignty
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Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Medicare — parts A, B & D — for everyone
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
4. Long-term nursing care for everyone
5. Free education (including post-grad) for everyone
6. Salary for attending school (Click here)
7. Eliminate corporate taxes
8. Increase the standard income tax deduction annually
9. Increase federal spending on the myriad initiatives that benefit America’s 99%
No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia. Two key equations in economics:
Federal Deficits – Net Imports = Net Private Savings
Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports
#MONETARY SOVEREIGNTY
#Monetary Sovereignty - Mitchell 