I’m going to prosecute Jamie Dimon.

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

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 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.

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

**NEWS ITEM:So Why is Dimon Getting to Plead His Case for JP Morgan (and Maybe Himself) Directly with Holder?

Dimon sought a meeting with Attorney General Eric H. Holder Jr. in an urgent bid to dispose of multiple government investigations into the bank’s conduct leading up to the financial crisis — and avoid criminal charges. The deal that Dimon discussed with Holder would involve paying the government at least $11 billion.

Even at $11 billion or more, the bank would be paying just a fraction of the damage it wreaked on mortgage investors, government agencies and homeowners. And a deal might ensure that no senior executives go to jail, which some experts say would let Wall Street avoid full responsibility.

——————————————————————————————————————————————————–

monetary sovereignty
I’m going to prosecute those big bankers — the crooks who stole trillions from innocent Americans and from the entire American economy.

monetary sovereignty
I don’t care how much they contributed to my campaign. I’m sending them to jail.

monetary sovereignty
I don’t care whether they book me to $200,000 speaking gigs after I leave office.

monetary sovereignty
I don’t care whether Michelle gets those big-money speaking gigs, either.

monetary sovereignty
I don’t care whether Natasha and Malia get lucrative jobs, for which they really aren’t qualified.

monetary sovereignty
Uh, wait a minute. Penny wants to tell me something.

You, too? My Obama Presidential Library? I thought we were pals.

monetary sovereignty

Uh.

.

Uh.

.

Just kidding!

monetary sovereignty

====================================================================================================================================================
Rodger Malcolm Mitchell
Monetary Sovereignty

Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
4. Free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually
8. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)

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

THE RECESSION CLOCK
Monetary Sovereignty Monetary Sovereignty

As the federal deficit growth lines drop, we approach recession, which will be cured only when the lines rise.

#MONETARY SOVEREIGNTY

9 thoughts on “I’m going to prosecute Jamie Dimon.

      1. I think he would have cut income tax rates 20% across the board, and we would be on the way to 4% unemployment instead of being stuck at 7.6% plus millions more working part-time because they can’t find full-time work. I think that one change makes 10X more difference to the 99% than everything else put together that Romney would have done differently than Obama. Obviously we may have different opinions about whether those other differences would have been helpful or harmful, but they are insignificant in comparison to the Romney tax cut.

        Like

        1. I never heard about that “20% across the board” tax cut. Are you making it up?

          Romney the Republican, the party of the Tea Party, would have needed to cut the deficit. So a 20% tax cut would have required a massive tax increase somewhere.

          Guess who would have paid it. I’ll give you two choices: The rich or the poor.

          Like

        2. You’re kidding, right?

          Here’s the first link that came up on Google: http://taxpolicycenter.org/taxtopics/romney-plan.cfm

          There are many more.

          “The plan would reduce the six current income tax rates by one-fifth”

          ” make the individual income tax changes revenue neutral compared with simply extending the 2001 and 2003 tax cuts. He also promises that low- and middle-income households will pay no larger shares of federal taxes than they do now.”

          The criticism from Obama was that it would not be revenue-neutral, it would “blow a hole in the deficit”, I think were the words he used. He was probably right that the deficit would initially increase, and that would have been a good thing.

          From another link, http://www.politifact.com/truth-o-meter/statements/2012/oct/04/barack-obama/obama-says-romneys-plan-5-trillion-tax-cut/

          “Early in the first presidential debate, President Barack Obama attacked Mitt Romney’s tax plan … He charged that Romney’s plan “calls for a $5 trillion tax cut … Four times the president spoke of Romney’s $5 trillion tax cut, and four times the governor rejected it.”

          You don’t remember that?

          Like

  1. Golfer, thanks for the link

    Here’s what it says:

    “Mitt Romney has proposed . . . broadening the tax base by reducing tax preferences. . . “

    Actually, “broadening the tax base” is code for “tax more lower income people.” Romney wanted to tax people whose income currently is too low to pay income taxes.

    “. . . eliminating taxation of investment income of most individual taxpayers . . . “

    Which income group would benefit most from that?

    ” . . . reducing the corporate income tax . . . “

    Actually, a good idea, benefiting everyone, though on balance, the greater benefit would be to the business owners rather than the employees.

    ” . . . eliminating the estate tax . . . “

    Benefiting the super rich, most.

    ” . . . and repealing the alternative minimum tax . . . “

    Again, benefiting the rich, most.

    ” . . . Gov. Romney would also permanently repeal the 0.9 percent tax on wages and the 3.8 percent tax on investment income of high-income individual taxpayers. . . “

    Predictably, the Republican party, run by Tea Party conservatives, wants to do everything possible to benefit the rich and widen the gap between Romney’s famous upper “47%” and the lower “47%.” (In reality, the upper .1%, , of which he is a part, and the lower 99.9%.)

    ” . . . the Romney plan would lower federal tax liability by about $900 billion in calendar year 2015 compared with current law, roughly a 24 percent cut in total projected revenue. Relative to a current policy baseline, the reduction in liability would be about $480 billion</b. in calendar year 2015."

    To the degree Romney’s plan would cut revenue and increase the deficit, his own party would have voted against it. If the Republicans are stronger than Democrats for anything, it’s cutting the deficit. That’s the raison d’etre of the Tea Party.

    As I repeatedly have said, Obama has been bribed by the rich, but Romney is owned by the rich, as he is one of them.

    Like

    1. What “tax preferences” did you think he meant that are affecting lower income people?

      The broadening of the tax base was not detailed, except for a cap on itemized deductions, which would have raised taxes “mainly for upper income taxpayers” by $1.75T. The rest of the $5T was said to be offset by higher income tax receipts due to 7.5% GDP growth. The only way that affects the people “whose income currently is too low to pay income taxes” is if they get higher incomes. You’re not against that, are you?

      “eliminating taxation of investment income of most individual taxpayers . . .
      Which income group would benefit most from that?”

      Under $200K, married filing jointly would be the only ones who benefit, directly. All of us would benefit from the higher GDP growth.

      “and repealing the alternative minimum tax . . .
      Again, benefiting the rich, most.”

      The AMT kicks in at $50K nowadays. It’s no longer something just for “the rich”. It’s a headache for the middle class and welfare for accountants. No revenue that makes any difference, but a whole lot of extra work. The only way to know if you need to figure it out is to figure it out and compare. It’s probably the worst implementation of any superficially good-sounding tax reform ever.

      “To the degree Romney’s plan would cut revenue and increase the deficit, his own party would have voted against it.”

      Just like when Reagan and Bush did it, right? All the Republicans voted against those tax cuts?

      The plan would have to pass the Senate, too. If it were not enacted, it would have been because of Harry Reid, not any Republicans.

      Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s