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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.
Greatness is rare. Few nations and few generations achieve it.
We achieved greatness when our ancestors crossed a dangerous ocean. And when we fought the king. And when we died to give slaves their freedoms, and when we died again, to give them their rights. And when we climbed the cliffs of Normandy and when we raised our flag on Iwo Jima, and when Rosie the Riveter worked the lines.
We were not perfect. We were ordinary people, but we were heroes.
We could have turned away from Europe and surrendered the Pacific. We could have built a wall around America and hidden behind it.
Instead, we reached out to the frightened and the destitute. We sheltered them in our mighty embrace.
We rebuilt our former enemies, to give their citizens the freedoms they would have denied us. What nation does that? We battled selfish instincts to create social programs, so that our poor could rise up and share in American freedom.
Today, we look back in pride at those generations who gave more than they received, so that future generations might receive more than they are forced to give.
And, once again, we are called upon.
The oppressed, beaten and starved children of poverty stand at our southern door, faces upturned in hope, praying us to allow them entry to the American dream.
What is the meaning of America? When called, we answer, not with cynicism but with compassion, not with complaint, but with resolve, not with closed minds, but with open arms.
Sadly, the previous generation built an ugly wall of selfishness and shame. American history will not remember them kindly, if at all.
Now has come our turn in the sun. Will we answer as our great generations have? Will we be the true American patriots, not with flags, but with deeds? Will future Americans look back upon us with pride?
Let us uncover the bright light of generosity that is America. Let us once again, lead the world. Let us begin now, to create our legacy.
Mr. President, tear down that wall.
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.