Mitchell’s laws:
●The more budgets are cut and taxes increased, the weaker an economy becomes.

●Until the 99% understand the need for federal deficits, the 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Austerity = poverty and leads to civil disorder.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.


Reader “Bro_Pelini” sent me the best outline of “Obamacare” I ever have seen. Many thanks, Bro.

I urge everyone to click the above link, go to the site, review what he has said, look at the comments, and maybe copy the whole thing onto your computer, so you can refer to it, later.

I’m going to give you just a taste of it here, but do go to the site for a more complete listing of features.:

So what does it do? Well, here is everything, in the order of when it goes into effect (because some of it happens later than other parts of it):

Already in effect:
–It allows the Food and Drug Administration to approve more generic drugs (making for more competition in the market to drive down prices)
–It increases the rebates on drugs people get through Medicare (so drugs cost less)
–It establishes a non-profit group, that the government doesn’t directly control, PCORI, to study different kinds of treatments to see what works better and is the best use of money.

Any health plans sold after this date must provide preventative care (mammograms, colonoscopies, etc.) without requiring any sort of co-pay or charge.

–If you make over $200,000 a year, your taxes go up a tiny bit (0.9%).

–No more “pre-existing conditions”. At all. People will be charged the same regardless of their medical history.
–If you can afford insurance but do not get it, you will be charged a fee. This is the “mandate” that people are talking about. Basically, it’s a trade-off for the “pre-existing conditions” bit, saying that since insurers now have to cover you regardless of what you have, you can’t just wait to buy insurance until you get sick. Otherwise no one would buy insurance until they needed it. You can opt not to get insurance, but you’ll have to pay the fee instead, unless of course you’re not buying insurance because you just can’t afford it.
–Insurers now can’t do annual spending caps. Their customers can get as much health care in a given year as they need.
–Make it so more poor people can get Medicaid by making the low-income cut-off higher.
–Small businesses get some tax credits for two years. ( Citation: Page 138, sec. 1421 )
–Businesses with over 50 employees must offer health insurance to full-time employees, or pay a penalty.
–Limits how high of an annual deductible insurers can charge customers.
–The elimination of the “Medicare gap”

There is lots, lots more. Those of you who already favor the plan will be pleased. Those who think they know why they hate the plan will be amazed.

Rodger Malcolm Mitchell
Monetary Sovereignty

P.S. (Added 6/29/12) You also will want to read this: Factbox: Tax provisions in Obama’s 2010 health care law

And this: Healthcare Decision: Winners and Losers

And this: Health-care decision: What happens now?

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 exports