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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.
17 thoughts on “–The legacy of our generation”
== Off topic ==
MEMO FROM CHARLES AND DAVID KOCH
Greetings, fellow one-percenters,
Our puppet-politicians continue to impose austerity on the peasants, but there is much more to be done. The US Treasury informs us that during the first eight months of FY 2014, federal taxes removed and destroyed an unprecedented $1,934 trillion from the USA’s peasant economy, while the financial economy, our playground, continued to set records. (Treasury link at bottom.)
This has widened the gap between us and the peasants more than ever, but there is still room for improvement.
During those first eight fiscal months (1 Oct 2013 to 31 May 2014) the federal government ran a deficit of $436 billion. That’s the lowest in years, but we will not reach our goal (i.e. 90% of Americans homeless and starving, or else in prison) until the federal government has a budget surplus, and finally starts living within its means.
In the month of May 2014 alone, the federal government created $330 billion, but destroyed only $200 billion, for a net deficit of $130 billion. Clearly we still have a way to go.
The White House OMB estimates that by the end of FY 2014 the federal government will have created $3.65 trillion, but destroyed only $3 trillion via taxes, for a net deficit of $650 billion. Does that sound like a budget surplus to you? Do you see 90% of all Americans homeless and starving, or in prison? We must do better!
From 1 Oct 2013 to 31 May 2014 the means by which the US government destroyed the largest amount of money ($903 billion) was the individual income tax on the peasants. The FICA tax destroyed another $694 billion, while the corporation income tax (imposed only on peasant-sized corporations), destroyed an additional $165 billion.
The total money removed from the peasant economy was $1,934 trillion — an all-time record for the USA. This may make it seem that a budget surplus is within reach for the first time since we installed Clinton in the White House – but wait. According to the Treasury, there will remain a deficit of $649 billion by the end of FY 2014. That’s almost three quarters of a trillion dollars that we will have failed to rob from the peasants.
Three quarters of a trillion lying around, waiting to be destroyed or picked up! Have we become so lazy that we refuse to grab that loot, and finish the job?
What are we waiting for? Let’s get with the program!
Incidentally, let’s all keep our bullshit straight. As you know, the federal deficit is plummeting because our puppet politicians have slashed spending on social programs, and taxed the peasants (the takers) at unprecedented levels. The result is a severe and ever-worsening depression in the peasant economy, with runaway unemployment.
NEVER REVEAL THIS! Instead, order your politicians and media hacks to tell the peasants that the deficit is lower because the economy is growing, with millions of new jobs created every day. This proves that austerity works. It also makes each peasant feel guilty for the suffering we cause him. And remember to keep hammering on the “national debt crisis,” which is nonsense, but the peasants love it.
Don’t worry about being exposed as a liar. The stupid peasants will devour your excrement like flies on s—t.
We’ll see all you all at the top!
The 36-page US Treasury Report is here (.pdf)…
Click to access MTS-MAY-2014.pdf
U.S. Senator Mike Crapo (R-Idaho) admits that the US Treasury is destroying a record amount of money, and that the US federal deficit continues to plummet.
“Federal spending remains so excessive that our nation has a dangerously high deficit, despite the influx in revenue from increased taxes. This further confirms that the federal government cannot spend its way out of the problem. We must enact comprehensive fiscal reform that reduces spending (on social programs), reforms our tax code (i.e. further increase taxes on the lower classes), stabilizes (i.e. cuts) entitlement programs (for the 99%) and strengthens spending controls” (i.e. increases bailouts for Wall Street).”
Mr. Crapo is paid $174,000 a year to spew this filth.
And that’s just his base salary.
There are a million things that Obama could do to start “tearing down the wall.” If I were the US president, the very first thing I would do would be to stop Homrich Inc. (a private company) from shutting off water to 3,000 people a day in Detroit. The victims are “people of color” in low-income neighborhoods. Meanwhile water is not being shut off for people and businesses in more affluent neighborhoods, even though they too are in arrears.
The victims have already been devastated by unemployment, foreclosure, and continual increases in water rates. The idea is to drive them completely out of Detroit, since no earthly life forms can exist without water. Once the poor people of Detroit are all dead or otherwise gone, their houses will be bulldozed.
They could be helped by an infusion of money from Washington, but Obama refuses to do anything. Obama gets away with his evil because America is a nation of hate.
Look at out culture. Once upon a time, if a character on TV or in a movie tortured someone, it was a sure sign that he was a bad guy. Now, the torturers are all-American heroes. From “24” to “Zero Dark Thirty,” the “good guys” are those who wield the pliers and water-boards. (Hollywood nominated “Zero Dark Thirty” for Best Picture in 2012, but it lost to “Argo,” which glorified CIA actions against Iran.) Americans apparently believe that if enough “bad guys” are tortured, then individual Americans will never die.
Because the USA has true Monetary Sovereignty, Americans could do whatever they wanted to improve their own lives and the lives of others. But hate gets in the way. Hate, fear, selfishness, and cowardice.
Heaven: “Let’s work together.”
Hell: “Screw you; I’ve got mine.”
Heaven: Let’s individually contribute to society by giving our best every day, in the grand scheme of things we are better off.
Hell: Let’s “work together” so I can get mines for free at your expense.
When did decide that laziness is “cool” and work is “stupid”?
Speaking of legacy, the legacy of a leader becomes the legacy of his/her generation. We discussed this at: Edward Snowden Nominated For Nobel Peace Prize. The Obama legacy. Thursday, Jan 30 2014
Today, the situation has become even more disgusting, if that is possible. Obama remains Obama. The NSA remains the NSA.
And: Germany has just found a SECOND U.S. spy in its government.
Clearly the federal government/media complex has learned it can say anything and do anything, and there is nothing we will do about it.
They divert us with worries about guns and abortions, while our real freedoms disappear.
Just as Vidkun Quisling gave his name to collaboration with the enemy, and Charles Ponzi gave his name to a specific type of fraud, Barack Obama would give his name to shameless political lying and pretense — if so many politicians had not already beat him to the punch.
Yet, I suspect the line, “He’s another Obama,” will create a sharp negative picture in the minds of Americans, for many, many years.
Take it from a recent immigrant that came here less than 20 years ago.
Why stop at tearing down the wall? All accounts with funds above 500 thousand should be immediately confiscated and distributed to those same folks crossing the border as well as their relatives left home. Send personal jets to pick up the rest of the folks, just bring all of them over here, why have anyone stay in such poor conditions – how cruel are we.
All of them should be provided with free cars, free homes (as many as they would like and loaded with options to the tilt), free food, free education, free healthcare, their own jet, a limo, all electronics (as many as they want), and anything else you can think off for LIFE.
I really thought heaven was another world, it’s always been here.
There is just one little tiny problem; can anyone guess what it is?
Thank you for making my point.
And thank you for making my point as well, namely that our only problem is that there is too much hate, fear, selfishness, and cowardice. Or more simply, the problem is lack of empathy, i.e. the refusal to put yourself in another’s shoes for even one instant. This is why there is so much suffering in the world. Suffering that you eagerly contribute to.
Hate is masochism. Bigotry is expensive. By contributing to the suffering of others, you worsen your own suffering. My consolation is that you do not understand this, and hence you will suffer the consequences all your life.
Because of your hate and your stupidity, you doubtless think that US dollars are limited, and that anyone who gets any kind of government help is a lazy “taker.” Unless, of course, the recipients are very rich, in which case you have no problem with rich people receiving trillions in free money.
You claim to be a “recent immigrant that came here less than 20 years ago.” And now you condemn the desperate people who want to do as you did. Yours is a textbook case of “Screw you; I’ve got mine.”
In your case, I will echo the Tea Party clowns who say, “Leave the USA! Go back to where you came from! We don’t want you here!”
One thing I forgot to add….
You are making it seem as if the most important thing is for people from other nations to see us as “the good guys”. Truth is there is nothing anyone can do to change that view. America has done tons of deeds for many of those nations, do they see the good deeds or do they focus on the bad ones?
Did the Japanese see the good deeds? Did the Germans see the good deeds? Did Russia?
As long as we have different nations, those nations will compete and talk BS about the other nations. The US has been taking in millions of illegal immigrants, has this changed the view of the people of those nations?
If it did, Latin America would be a hotbed of capitalism. Instead, it’s a pigsty of communism. And by the way, I am Latin American and have family and friends that have crossed into the US illegally. It’s not about whether we are “the good guys” or not, its about doing what the law says. If you break the law, you pay the consequences even if you are a citizen.
As an example, my license was suspended for an $8 dollar parking ticket a while ago. With all the stuff I had going on at the time, I forgot to pay the ticket. I received a letter from DMV stating my license was suspended and asked for payment via mail/check. I sent the payment and after a week had past, I assumed my license had been re-instated. That same night I got stopped by a cop on my way to work, who not only gave me a myriad of summons, he called for backup and 100 cops showed up (as if I was a criminal) and he threw me in jail. The tickets, state fees and insurance premium costs resulting from that issue surpassed $6,000 dollars.
At the time the cop stopped me I was working a full time night job, I was going to college full time to complete my bachelors degree (given that my employer was paying for it), I had just gotten married a few months earlier and had a wife and new born baby waiting for me at home.
Was this fair? To me, it was not. To the judge looking out for his city’s budget, it was. But the most important point is that i had broken the law. When I went to court the judge was pretty adamant about not saying anything unless you were asked. The only thing I wanted to tell the judge is that I had done nothing that should have landed me in jail, the public defender told me not to open my mouth and that was that.
So we are not allowed to break the laws for our own citizens, but think it’s cool to break them for illegal aliens? Where have we fallen as a nation to even think of such nonsense?
So you think it is okay for your family and friends to break the law, but no one else. You yourself broke the law, and you continue to do so by conspiring with those law-breakers. By your own admission, yours is an evil crime family. You are a classic example of “Screw you; I’ve got mine.”
According to you, you came from a world of 604 million pigs (i.e. Latin America). If they are indeed pigs, then a pig that escapes from its “pigsty” is still a pig.
Are you serious? Did you bother reading my comment?
I deserved to get stopped that day, my license was suspended. What I didn’t and still don’t agree with is going to jail and paying 6000 dollars for an 8 dollar parking ticket. I broke the law, and should have been punished, not extorted like I was.
That’s where you liberals have an issue drawing a line. You want laws broken in defense of people who clearly broke the law, and than you complain about banks committing fraud? Why would anyone uphold the law, if it’s not enforced?
Look in the mirror, you are the reason our nation is headed in the wrong path. My wish that we were all well off and got to live where and how we want, all of us. Unfortunately, that’s a dream, I wasn’t around when the constitution was written and I did not make the laws that categorize illegals as, well, illegals.
I’m afraid some people might think I paid this guy to be a caricature of a right-wing jerk, just so I could make the point. But I swear, he’s doing it for free.
There’s no way I could invent him.
The “William Wilberforce Trafficking Victims Protection Reauthorization Act of 2008” signed by Bush Jr. originally pushed by a bipartisan coalition of lawmakers as well as by evangelical groups to combat sex trafficking, gave substantial new protections to children entering the country alone who were not from Mexico or Canada by prohibiting them from being quickly sent back to their country of origin and is the alleged reason why there is this current surge of unaccompanied children from Latin America.
Thank you, Zen,
Amazingly, Congress passed an excellent law, that now is doing exactly as it was designed to do: Protect children.
Not so amazingly, now that the law is protecting children (rather than, for instance, protecting rich bankers), both parties are scrambling to find ways to defeat the law.
Truly disgusting, and further evidence of the corruption of our political system and of what once was America.
The American way:
“Mr. Gorbachev, open this gate. Mr. Gorbachev, tear down this wall . . . this wall will fall. For it cannot withstand faith; it cannot withstand truth. The wall cannot withstand freedom.”
Mr. Obama, open this gate. Mr. Obama, tear down this wall!
I don’t know how/where Wall Street got its name but it sure is appropriate.
Please don’t forget our shameful treatment of the refugees on the MS St. Louis in 1939.
Yes, absolutely, disgusting.
Also our treatment of American citizens who happened to have Japanese ancestors.
I often have wondered why Roosevelt was considered a great President, when in my humble opinion, he was mediocre at best.
As I said, “We were not perfect.” But the American people were heroes. Their motives were far purer than those of today’s crop.