Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell
●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 ultimately 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.
If ever there needed to be even more proof the “religious” right wing is the morally wrong wing, here it is.
New York Times
Supreme Court Invalidates Key Part of Voting Rights Act
By ADAM LIPTAK, Published: June 25, 2013
The Supreme Court on Tuesday effectively struck down the heart of the Voting Rights Act of 1965 by a 5-to-4 vote, freeing nine states, mostly in the South, to change their election laws without advance federal approval.
At the core of the disagreement was whether racial minorities continued to face barriers to voting in states with a history of discrimination.
“Our country has changed,” Chief Justice John G. Roberts Jr. wrote for the majority. “While any racial discrimination in voting is too much, Congress must ensure that the legislation it passes to remedy that problem speaks to current conditions.”
The current system, Roberts wrote, is “based on 40-year-old facts having no logical relationship to the present day.. Congress — if it is to divide the states — must identify those jurisdictions to be singled out on a basis that makes sense in light of current conditions.” It cannot simply rely on the past.”
Justices Antonin Scalia, Anthony M. Kennedy, Clarence Thomas and Samuel A. Alito Jr. joined the majority opinion.
[Remember, these are the same right wing “justices” (What a misuse of that word!) who gave rich corporations virtually unlimited power to bribe politicians, and said there is no evidence this would increase the risk of corruption or the appearance of corruption. (Try not to laugh, Koch Brothers and Pete Peterson.]
Justice Roberts also included in his opinion, these prophetic words: “Had prior Courts never gone against stare decisis, for example . . . “ the Government could wiretap ordinary criminal suspects without first obtaining warrants”.
Once again Roberts is extremely right! Instead, the Government wiretaps ordinary non-criminal, non-suspects, without first obtaining warrants.
New York Times
After Ruling, States Rush to Enact Voting Laws
By MICHAEL COOPER
Published: July 5, 2013
State officials across the South are aggressively moving ahead with new laws requiring voters to show photo identification at the polls after the Supreme Court decision striking down a portion of the Voting Rights Act.
Within hours, Texas officials said that they would begin enforcing a strict photo identification requirement for voters. In Mississippi and Alabama, state officials said that they were moving to begin enforcing the laws.
Some North Carolina Republican lawmakers said that they would move as soon as next week to pass a bill requiring voters to present photo identification at the polls. And some Republicans there are considering cutting back on the number of early voting days in the state, which were especially popular among Democrats and black voters during the 2012 presidential election.
See, those laws have “no logical relationship to the present day.” The South has changed.
Once again, Chief Justice Roberts simultaneously is extremely right and extremely wrong.
And his legacy will be written in shame.
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. Click here
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%
10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt
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:
1. Federal Deficits – Net Imports = Net Private Savings
2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports