As I said, Congress has been bribed.

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.
●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 motive.

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After Watering Down Financial Reform, Ex-Senator Scott Brown Joins Goldman Sachs’ Lobbying Firm
By Josh Israel on Mar 11, 2013 at 3:45 pm

During his nearly three years in the U.S. Senate, Scott Brown (R-MA) frequently came to the aid of the financial sector — watering down the Dodd-Frank bill and working to weaken it after its passage — and accepted hundreds of thousands of dollars in campaign cash from the industry.

Now, the man Forbes Magazine called one of “Wall Street’s Favorite Congressmen” will use those connections as counsel for Nixon Peabody, an international law and lobbying firm.

As I was saying, Congress has been bribed, BRIBED, via campaign contributions and promises of lucrative employment later, to widen the income/wealth gap. The right wing Supreme Court aided and abetted the crime.

Any doubts?

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================

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

18 thoughts on “As I said, Congress has been bribed.

    1. No, because corporations would have a powerful financial incentive to replace employees with machines or simply to fire them. Increased unemployment widens the gap.

      Why make corporations (which are part of the private sector) pay to close the gap, when the federal government has the unlimited power to pay?

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  1. I oppose fiscal austerity. However, the Walton family, for example, can afford to pay Wal-Mart employees a minimum of $30k a year.

    Employment possibly would not fall because the higher minimum wage lowers labor turnover, which raises productivity and labor demand.

    The president’s proposal would raise annual income by $3,500 for a full-time minimum-wage worker. A recent analysis found that 13 million workers earn less than $9 an hour. The income increase from the higher minimum wage would be about $50 billion. Assuming that all of that higher income was redistributed from the wealthiest families, the difference in spending behavior between low-income and high-income consumers is likely to translate into an additional $10 billion to $20 billion in consumer purchases.

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        1. When you think of “corporations” you think of Sam Walton and Walmart. However, the vast majority of corporations are small businesses that would be put out of business by your salary requirement of $30K per year.

          As for big companies like Walmart, you probably think Sam Walton would pay the salary increase. Wrong. The customers would pay — the same people who received the salary increase would use that salary increase to pay Walmart’s higher prices.

          Forcing the private sector to pay for salary increases in the private sector, accomplishes nothing. Just moving dollars from the left had to the right hand.

          The economy grows when the federal government adds new dollars.

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        2. Yes Rodger, any suggestion that does not involve MORE GOVERNMENT SPENDING will always hurt workers, no matter how well-intentioned. “Reform” will always mean cuts. Federal taxes will always mean a worsened depression. A higher minimum wage will always mean increased prices and unemployment. No exceptions.

          Despite all this, the public only wants to tax the rich — who pay zero taxes in any case.

          Question: Suppose you could tax the rich, such that a person with $30 billion is reduced to having only $1 billion. And suppose everything else stays the same. Unemployment, the depression and so on. Would you REALLY feel better about your life? Really?

          Wouldn’t you rather have a decent job with decent pay for YOURSELF?

          If not, then you are a fool.

          Like

  2. RMM,

    What do you think about this perspective…

    A rational for progressive tax rates, particularly corporate taxes, is that corporations are forced to “redistribute the wealth” on their own terms. Either 1) pay a higher percentage of the profits to employees in benefits and or wages/salaries, or lose it to the black hole of the Monetary Soverieign Uncle Sam.

    Yes, we both understand Monetary Soveirenty and how taxes paid essentially pull money out of the economy. But my sense is that progressive corporate tax rates would in turn cause corporations to distribute more income toward benefits and wages/salaries instead of losing it by paying it to the govenrment in taxes.

    What do you think?

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    1. Some would go to shareholders. Some would go to officers. Some would be destroyed by the government. Some would go to employees, but the amount paid to employees is not directly related to taxes, but rather to general salary pricing.

      If a business can get a worker for $25K, it’ll pay $25K, regardless of taxes.

      My opinion is that all corporate taxes should be eliminated.

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  3. The adorable Paul Ryan (publicly certified LOSER) is at it again. Yesterday the Wall Street Urinal published an op-ed by Ryan titled, “The GOP Plan to Balance the Budget by 2023.”

    It contains the usual sewage that gushes out of Ryan’s mouth.

    “We are introducing a budget that balances in 10 years without raising taxes,” he writes. “How do we do it? We stop spending money the government doesn’t have…Our opponents will shout austerity.”

    It’s nauseating, even by Ryan’s standards. He says that anyone who questions his plan to destroy Medicare will destroy Medicare. Ryan collects $16,100 per month to spew this excrement. (And that’s just his base salary.)

    There are currently 602 reader responses. Most of them favor austerity. Many urge Ryan to be more aggressive.

    SO REMEMBER FOLKS: if you see someone living in a cardboard box under a bridge, don’t feel too bad. That guy likely favored the austerity that put him there.

    http://online.wsj.com/article/SB10001424127887323826704578353902612840488.html

    Meanwhile in Europe, the bureaucrat-thieves continue to boast: “Yeah we’re robbing you blind. Otherwise you would have even less.” (Cackle-cackle.)

    An example is Finnish politician Olli Ilmari Rehn, who is vice president of the European Commission.

    Rehn is also the Commissioner for Economic and Monetary Affairs and the Euro. His job is to impose the euro on 333 million eurozone slaves (soon to be 376 million slaves when Latvia, Lithuania, and perhaps Poland adopt the euro).

    Mr. Rhen is fanatically pro-austerity. Last month his own European Commission published proof that the Commission’s austerity is worsening the depression in southern European countries. The IMF also admitted this. Nonetheless, Mr. Rehn says that Greece, Spain, Portugal, etc need more austerity.

    Paul Krugman says that Mr. Rehn propagates “cockroach ideas” that keep coming back no matter how hard people try to flush them away. He says the “Rehn of Terror” is destroying Europe.

    Today in a Finnish newspaper, Mr. Rhen attacked Paul Krugman and others who question austerity. “I sincerely hope that people who are cleverer than me will suggest alternative ways of getting credit flowing into Europe. So far, distinguished economic experts had not suggested any financially or politically realistic alternatives.”

    (No? How about DUMPING THE EURO CURRENCY AND RECOVERING MONETARY SOVEREIGNTY?)

    http://in.reuters.com/article/2013/03/12/eurozone-rehn-austerity-criticism-idINDEE92B0AM20130312?type=economicNews

    Like


  4. Ryan budget seeks higher retirement contributions by federal employees

    Posted by Eric Yoder on March 12, 2013 at 12:03 pm

    The federal workforce would be reduced by attrition and employees would pay more toward their retirement benefits under the budget plan unveiled Tuesday by House Budget Committee Chairman Paul Ryan (R-Wis.).

    Employ fewer and cut their benefits — the perfect .1% scenario. But these guys “don’t understand” what they are doing.

    Yeah, right.

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    1. Ryan is proof that Congressmen are owned. As a lifelong servant of the rich, he officially has $5.5 million in his congressional campaign account, more than any other House member.

      He has also been re-elected seven times, with and average of 63.5% of the vote. The rich also made him chairman of the House Budget Committee.

      Ryan is 43 years old, but his family has a history of fatal heart attacks before age 60. My fingers are crossed.

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  5. The beat (up of the 99.9%) goes on:

    Federal pay freeze extension to three years all but a done deal with Senate bill

    By Joe Davidson, Published: March 12

    Just when the walloping of federal workers seemed to have reached a peak — BAM! — here comes an unexpected blow from the left.

    At almost the same time, the workers were the target of additional, albeit not surprising, hits from the right.

    But, it’s all based on Congressional and Presidential ignorance of basic economics, and has nothing to do with widening the income/wealth gap.
    Sure it does.

    Like

    1. For the good of the nation, the middle and lower classes must die. We must have austerity.

      Who is to blame for this? According to the Washington Post, it is the U.S government’s “troublesome debt.”

      Like

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