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●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The more federal budgets are cut and taxes increased, the weaker an economy becomes. .
●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.
●Austerity is the government’s method for widening the gap between rich and poor.
●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.
●Everything in economics devolves to motive, and the motive is the Gap.
The recent election, in which the Tea/Republicans captured the votes of America, merits this headline: Turkeys Vote For Thankgiving.
How else to describe the following article in the Washington Times?
Obama’s latest regulatory power grab aims at ozone
By Ben Wolfgang
President Obama on Wednesday checked off yet another major item on environmentalists’ wish list by targeting smog, further solidifying his legacy on green issues but also angering big business and giving Republicans fresh ammunition heading into the final 24 months of this administration.
Apparently, smog is a good thing, because “targeting smog” gives Republicans “fresh ammunition.”
The Environmental Protection Agency on Wednesday released new tentative rules on ozone, meant to drastically cut the amount of smog produced by power plants and factories.
Republicans and business groups, who say it will cost jobs and create a drag on the economy — would lower the threshold for ozone from 75 parts per billion to 65 to 70 parts per billion.
Ozone leads to smog, which has been linked to a series of health problems including premature death, asthma and heart disease.
Reducing premature death, asthma and heart disease is what gives Republicans “fresh ammunition.” Turkeys love premature death.
Critics say it’s obvious the regulations will create a serious burden. EPA data, cited by groups such as the Business Roundtable, show that 59 percent of the U.S. population lives in an area that did not meet the 65 parts per billion threshold.
Therefore, 59 percent of the U.S. population is breathing bad air, and by gosh, we turkeys don’t want to change that.
The National Association of Manufacturers called the rules “the most expensive regulation ever imposed on the American public.”
The organization calculated that the rule would reduce U.S. gross domestic product by $3.4 trillion from 2017 to 2040 and cut about 2.9 million jobs per year on average through 2040.
Of course it’s all bullsh*t, but one is left to wonder: How many jobs are lost by anti-child-labor laws? How many are lost by rules against tainted food. How much do toy recalls cost us (You know, those toys that chop off kids fingers and are deadly to put in kids mouths)?
And we also heard how Obama is anti-coal, a claim that resonates well in coal digging communities. Well folks, coal kills. Burning coal throws poisons into the air. Millions have died painfully and too soon because of coal pollutants (not to mention the miners who die digging it).
Yes, if you earn your livelihood from coal, or from poisoned food, dangerous toys, dirty hospitals, sweat shops, dangerous cars, dangerous electrical devices and all other things that maim and kill us, the Republicans will help you continue earning that livelihood.
How much is your children’s health worth? How much is breathing smog worth to you?
Premature death, asthma and heart disease are not a concern in America. How do we know? The turkeys just finished voting for Thanksgiving.
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. (Refer to this.)
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.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.
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.