●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.
●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.
●Everything in economics devolves to motivation.
MMT followers have a loud voice. They are on TV and the radio, frequently. But progress is minimal, if that. The public remains convinced the federal deficit must be reduced.
I’ve been urging MMT to introduce the economic facts by first revealing the scandal, namely that the 1% intentionally are bribing politicians and the media to beat down the 99%. The bribes are in the form of political contributions and promises of lucrative employment, later. The media, of course, are owned by the 1%. The goal is to widen the gap between the 1% and the 99%; the wider the gap, the more power the 1% has.
The reason to disclose the scandal first is to provide a basis for the public to accept the truth about Monetary Sovereignty. First disclose the lies and the motive; then reveal the truth. That makes the truth more believable.
Sadly, MMT simply cannot bring themselves to accuse the 1%. Perhaps they feel it is beneath them. Or they don’t think the public would accept it (although there is ample evidence the public loves to believe the worst about the rich). So MMT continues trying to explain the facts in ever simpler terms, only to have the public repeatedly throw the facts back with sneers and derision.
Here is yet another example of how the rich want to work the public to death, by delaying and reducing Social Security benefits.
Financial planners have been urging us to work longer to save more for our retirement. Now a group of CEOs is pushing for a plan that would hike the retirement age to 70, meaning you wouldn’t be eligible for full Social Security benefits and Medicare until then.
Currently, workers are eligible to get early Social Security benefits at age 62 and full Social Security benefits at 66; for Medicare, it’s age 65. For workers born in 1960 or later, the eligibility age for full Social Security benefits is 67.
The plan by the Business Roundtable, an association of CEOs from some of the largest U.S. companies, would raise the age for Social Security and Medicare for people who are age 54 and younger. Those 55 and older would be protected from the changes.
The CEOs released their proposal amid calls by some lawmakers for spending cuts as part of a deal to raise the $16.4 trillion debt ceiling. Treasury Secretary Timothy Geithner has said the government will not be able to make its payments, perhaps as early as mid-February, if the debt ceiling is not raised.
In summary, the CEOs of “some of the largest U.S. companies,” the core of the 1%, have decided to help the 99% by forcing us to work until we’re 70. Of course, we won’t be able to find jobs in our later years, so these largest U.S. companies will be able to hire us for pennies, or force us to beg for money, then criticize us for being sloths.
Additionally, to “save” Social Security, benefits will be cut. One method is to institute a new, cockamamie computation for inflation.
Interestingly, we tend to think the public is stupid for refusing to recognize the truth of Monetary Sovereignty. How stupid are we for refusing to recognize the truth of the 1%’s plan to enslave us?
MMT, are you listening?
Rodger Malcolm Mitchell
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