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●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.
Imagine if someone said I’m going to cure your hunger by raising the price of food and by restricting your access to food. What would you call that guy? A liar? A con artist? Wouldn’t you wonder what his agenda really is?
Imagine if someone said I’m going to improve education by eliminating government support for education and by closing the schools. What would you call that guy? A liar? A con artist? Wouldn’t you wonder what his agenda really is?
If you think those examples are ridiculous, consider what President Obama has said and done.
New York Times
Obama Says Income Gap Is Fraying U.S. Social Fabric
By JACKIE CALMES and MICHAEL D. SHEAR, Published: July 27, 2013
President Obama said he was worried that years of widening income inequality and the lingering effects of the financial crisis had frayed the country’s social fabric and undermined Americans’ belief in opportunity.
“Upward mobility was part and parcel of who we were as Americans. And that’s what’s been eroding over the last 20, 30 years, well before the financial crisis.”
“If we don’t do anything, then growth will be slower than it should be. Unemployment will not go down as fast as it should. Income inequality will continue to rise. That’s not a future that we should accept.
“I will seize any opportunity I can find to work with Congress to strengthen the middle class, improve their prospects, improve our security.”
Mr. Obama in the interview called for an end to the emphasis on budget austerity that Republicans ushered in when they captured control of the House in November 2010.
Wow, he’s concerned about income inequality, and strengthening the middle class and improving their security. That sounds really great. And most importantly, he wants to end the emphasis on budget austerity, which has killed our economy. This is really wonderful.
New fiscal cliff bill to increase FICA taxes for Alabamians
By Dana Beyerle, Times Montgomery Bureau, Published: Wednesday, January 2, 2013
The tax fix Obama said he will sign did not retain the 2 percentage point FICA, or Social Security, tax reduction from 2010. “It’s going to affect everybody,” said Gadsden CPA John Parr. “If you make $50,000, it’s going to cost you $1,000.”
Huh? Are you saying the guy who expressed so much concern about the middle class, actually signed a bill to increase the single most regressive tax in American history? Hmmm . . . why would he do that?
According to the Wall Street Journal, there does not appear to be any political motivation from either the Republicans or Democrats to extend the FICA reductions in to 2013
“No political motivation from the Democrats”? How could that be? The leader of the Democrats, the President of the United States, said he’s opposed to income inequality and the widening of the income gap between rich and not rich.
Huff Post,July 28, 2013
John Boehner Rejects Obama’s Grand Bargain On Debt Ceiling
Obama offered to put Social Security, Medicare and Medicaid cuts on the table in exchange for a tax hike of roughly $100 billion per year over 10 years. Meanwhile, government spending would be cut by roughly three times that amount.
Now wait a minute. The guy who said he wants to improve the security of the middle class, wants to cut Social Security? And he wants to cut Medicare and cut Medicaid, the three programs that most help the middle class? Hmmm . . . why would he do that?
And this guy wants to increase taxes and cut federal spending (the vast majority of which benefits the middle- and lower- classes), but he says he wants to end the emphasis on austerity? Hmmm . . . why would he do that?
What would you call such a guy? A liar? A con artist? Don’t you wonder what his agenda really is?
As for me, I’d call him a President who has been bribed by the super rich (via campaign contributions and promises of lucrative employment later) to widen the gap between the rich and the rest — and who is willing to do it by conning the middle class into believing he cares about us.
He may not be the worst President in our history. We’ve had plenty of bad ones. But on the “sneaky/deceptive/secrets” scale, he ranks way up there with the worst. No wonder he enjoys spying on us and hates Edward Snowden.
“My fellow Americans. The pea is under one of these three shells. Now watch carefully as I shuffle the shells . . . “
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