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Mitchell’s laws:
●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.

Yesterday, a reader, golfer1john, expressed concern about the amount of immigration to America. You can read my response in the comment section of the previous post.

To put today’s post into context, on average, about 884,000 foreigners have migrated to the U.S. per year, since 2001.

America has 320 million people. So each year, less than 3 tenths of 1% of our population came here as immigrants.

Here’s an example of scare tactics for xenophobes, from the right-wing Washington Times:

Illegal immigrant children surge across border at highest rate since last summer’s peak
By Stephen Dinan

The second wave of unaccompanied illegal immigrant children has begun, with more than 3,000 of them surging across the Mexican border into the U.S. last month — the highest rate since the peak of last summer’s crisis and a warning that another rough season could be ahead.

Immigration officials warned that they expected another surge as the weather improved. Although the numbers are down some 40 percent compared with last year’s frenetic pace that sparked a political crisis for the Obama administration, fiscal year 2015 is shaping up to mark the second-biggest surge on record.

Let’s parse these two short paragraphs. Including the title, the word “surge” repeatedly was used. (Three thousand, down from 5,000 is a “surge”?)

Three thousand a month comes to 36,000 a year, which is just 4% of the average immigration rate. Wow, a 4% “surge”!

Further, the paragraphs manage to include such words as “frenetic pace,” “wave,” “crisis,” “rough season,” “warning,” and of course, the inevitable, “illegal,” all designed to scare you.

And all this scary rhetoric for just 3,000 children, down from 5,000.

In reading those two paragraphs, one might think (as you are supposed to think), that we are being swarmed with brown-skinned children, smothering us like locusts.

In reality, a relative handful (compared with the size of America) of frightened children are begging for sanctuary here, to avoid being enslaved or raped or killed, or simply to find a decent life.

And the right-wing Washington Times wants us to send them back to misery because . . . because what?

Will these children take our jobs? Obviously not. They are children.

Will they take our tax money? No, not in a Monetarily Sovereign country, where federal taxes do not fund federal spending.

Are we so crowded that we don’t have room for the children? No, America still is mostly empty land.

So what is the reason?

Bigotry and xenophobia. The children have brown skins. There is no outrage about Canadian or European immigration.

Authorities report having captured 15,647 children traveling without parents who tried to jump the border in the first six months of the fiscal year. Through this point in 2014, they had apprehended 28,579.

Oh, thank goodness we compassionate Americans were able to capture these vile children and send them back to the horrors they bravely tried to escape, because they represent such a danger to us and to our pure American way of life.

Yes, they are illegal, and why are they illegal? Because we created their illegality.

We created an unnecessarily harsh system whereby children must wait many years to achieve legality.

We created the classic “gotcha” system, a kind of “speed-trap,” in which a hick town sets up a 25MPH speed limit on a 70MPH highway, and arrests anyone who “breaks the law” by going too fast.

The U.S. has created an immigration speed trap and now we are horrified that anyone should break our terrible law.

Just as worrisome is the rate of whole families — usually mothers with young children — who are crossing. So far this fiscal year, authorities have captured 13,911 “family units,” down 30 percent from last year.

Isn’t that wonderful? Doesn’t that make you proud? Our authorities have arrested 13,911 family units — you know, those 13,911 evil mothers and children who are overwhelming America.

Jessica Vaughan, policy studies director at the Center for Immigration Studies said the Obama administration and Congress have not taken steps to end the “pull factors.”

Who? The Center for Immigration Studies? Who are they?

Here’s how they describe themselves:

The Center for Immigration Studies is an independent, non-partisan, non-profit, research organization.

The data collected by the Center during the past quarter-century has led many of our researchers to conclude that current, high levels of immigration are making it harder to achieve such important national objectives as better public schools, a cleaner environment, homeland security, and a living wage for every native-born and immigrant worker.

Many of us at the Center are animated by a “low-immigration, pro-immigrant” vision of an America that admits fewer immigrants but affords a warmer welcome for those who are admitted.

Isn’t that sweet? “Independent, non-partisan,” but also “low-immigration,” while being “pro-immigration.” (Huh?)

And of course, they want to give immigrants a “warmer welcome.” (By sending them back south to a warmer climate.)

And are we really to believe that supposedly “high” levels of immigration make it hard for us to have better schools, a cleaner environment, homeland security and a living wage?

I’ll tell you what makes these things hard, and it’s not immigration.

It’s the cut-federal-spending, austerity policy of the Tea Republicans that have destroyed our schools.

It’s the anti-environment policies of the Tea Republicans that have created the pollution that dirties our environment.

It’s the anti-worker, pro-corporation policies of the Tea Republicans that have prevented a living wage.

And as for homeland security, do you really believe that these 3,000 children a month represent a threat to America’s security?

In short, this self-proclaimed “independent, non-partisan, research organization” has an agenda. It is nothing but a mouthpiece for the austerity-inducing, Tea Republican, anti-brown-skin xenophobes.

Legitimate, unbiased research indicates that immigrants, on balance, benefit America.

Further, the whole notion of sending innocent children back to the horrors they bravely try to escape, is repugnant to me as an American and as a human being. It should be repugnant to you, too.

But that is what the xenophobes do to us. They destroy our moral code. They blind us with scare tactics. They make us cruel to innocent children and innocent mothers.

It’s simply disgusting. Especially for Americans.

Rodger Malcolm Mitchell
Monetary Sovereignty

The 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. Federally funded, 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)

Initiating The Ten Steps sequentially 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.

Monetary Sovereignty

Monetary Sovereignty

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.