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●Liberals think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.
●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.
Democracy is not perfect and our system of democracy is far from perfect. That imperfection especially manifests itself with the Supreme Court, which answers to no one, and especially not to voters.
It is an unelected, non-responsive body, that is the antithesis of democracy.
So when a Supreme Court is hijacked by right wing idealogs, who despise the poor, what remains of democracy is shredded.
Today, we have the Supreme Court of the notorious Citizens United decision, which equates money with “free speech,” and declares that the rich have more rights than the poor.
WASHINGTON — The Supreme Court on Tuesday effectively struck down the heart of the Voting Rights Act of 1965 by a 5-to-4 vote, freeing nine states, mostly in the South, to change their election laws without advance federal approval.
“Our country has changed,” Chief Justice John G. Roberts Jr. wrote for the majority. “While any racial discrimination in voting is too much, Congress must ensure that the legislation it passes to remedy that problem speaks to current conditions.”
Apparently, Justice Roberts believes “current conditions” do not include traditional bigotry against the poor, especially the black poor.
Yes, the times certainly have changed.
Texas announced shortly after the decision that a voter identification law that had been blocked would go into effect immediately.
Now as anyone with half a brain (including the right-wing cabal of the Supreme Court) knows, voter ID laws have nothing to do with voter fraud. Their sole purpose is to keep poor people from voting.
And that is why, we now are treated to the latest Supreme Court decision:
The U.S. Supreme Court on Saturday rejected a request to stop Texas from requiring voters to show identification before they cast ballots.
The unsigned decision, published early Saturday morning, comes on the heels of a federal appeals court ruling on Tuesday that granted a request by the state to stay a lower court decision that struck down the law.
The higher court ruling means the law will be in effect for November elections.
While the decision was unsigned, Justices Sonya Sotomayor, Ruth Bader Ginsburg and Elena Hagan dissented, saying the Texas ID law likely creates unconstitutional impositions.
The dissent is in line with the Obama administration, which has said voter ID laws are racially discriminatory.
Actually, it isn’t race. It’s money.
Income inequality in the United States is near its highest levels of the past 100 years, Fed Chair Janet Yellen said on Friday.
Yellen, in remarks prepared for a speech Friday morning, said she was concerned about both the growing burden of student debt and the decline in new business formation, which she said could depress productivity.
“The past several decades have seen the most sustained rise in inequality since the 19th century after more than 40 years of narrowing inequality following the Great Depression,” she said.
“By some estimates, income and wealth inequality are near their highest levels in the past hundred years, much higher than the average during that time span and probably higher than for much of American history before then.”
The wealthiest 5 percent still hold two-thirds of all assets, and that while there have been significant gains at the top of the spectrum, things have been stagnant for the majority.
After adjusting for inflation, the average income of the top 5 percent of households grew by 38 percent from 1989 to 2013. By comparison, the average real income of the other 95 percent of households grew less than 10 percent.
When you have Supreme Court justices, who are wined and dined by the rich, and who go on various trips and speaking engagements funded by the rich — Supreme Court Justices who can do anything they wish, short of public pedophelia — you have a system begging to be corrupted.
These Justices are human, after all, subject to all the temptations of humans. Yet, normal humans are punished for their transgressions. Supreme Court Justices are not.
In fact, the lowest and least moral among them are rewarded each day, by the lowest and least moral among us.
The theory of Supreme Court independence is based of the (rightful) belief that Congress and the President are so criminally bent, that were the Court continually subject to oversight, it too would be criminal.
Unfortunately, the Court is criminal on its own, for it has absolute power, and as Lord Acton said, “Absolute power corrupts absolutely.”
The notion of an independent Court is a good one, but perhaps the lifetime sinecure should be changed. An endless Anton Scalia and a perpetual Clarence Thomas surely is not in the best interests of America.
I suggest the Court should have term limits — perhaps 10 years — so that Justices may remain independent from Congressional nonsense, but not be able to inflict their own criminality on us, endlessly.
I shudder to think of what will happen should the next President be a Republican, who appoints a young right-winger to the Court.
God help the poor.
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. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
The Ten Steps will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.
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 growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.