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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, and the motive is the gap.
On July 3, I wrote a comment to my own post, It’s official. America is a right-wing, male, Christian country, and “freedom” means captivity. The comment was:
The monster has begun to grow. America now is a plutocratic theocracy:
The court either ordered appeals courts to reconsider their rejection of the employers’ claims in light of the Hobby Lobby decision, or let stand lower courts’ endorsement of those claims.
Translation: All contraceptive services — not just the four mentioned in the Hobby Lobby case — now may be rejected by “sincere” religious objections.
The Becket Fund lists 49 pending federal cases in which for-profit companies have brought purportedly religious objections to the ACA.
An additional 51 cases involve nonprofit organizations. The floodgates aren’t about to open–they’re already open.
An Indiana construction company refuses to pay for or support not only “contraceptives, sterilization, abortion, (or) abortion-inducing drugs,” but “related education and counseling.”
In other words, if a woman asks her doctor for advice on reproductive options, the consultation may not be covered.
Expect every nut with a political cause to come out of the woodwork, and claim a “sincere religious objection.”
Eden Foods’ Catholic owner said, “I don’t care if the federal government is telling me to buy my employees Jack Daniel’s or birth control. What gives them the right to tell me that I have to do that? That’s my issue, that’s what I object to, and that’s the beginning and end of the story.”
This hint that Potter had merely swaddled an anti-government rant within a “religious” blanket illustrates the main problem with Justice Samuel Alito’s majority opinion in Hobby Lobby: it takes claims of religious scruples for granted.
My opinion: The Citizens United and Hobby Lobby cases will define the Roberts court and its extreme right-wing justices, as among the worst of the past century. The former establishes a plutocracy; the latter establishes a theocracy.
Despite your other leanings, the future makeup of the Court may be the one reason to vote Democratic in the coming elections.
I’ve now come across an article so good, I don’t want to cheat you with an excerpted version: The Senate will soon vote on an amendment to overturn Citizens United. History is calling!
I strongly suggest you click the link and read the article.
Rodger Malcolm Mitchell
Ten Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
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. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (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
Vertical gray bars mark recessions.
As the federal deficit growth lines drop, we approach recession, which will be cured only when the lines rise. Federal deficit growth is absolutely, positively necessary for economic growth. Period.