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.
●The single most important problem in economics is
the gap between rich and poor.
●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.

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The following is from the right-wing, Koch-brothers-funded Cato Institute.

A Plan to Cut Federal Spending

This essay proposes phasing in spending cuts that would reach almost $1 trillion annually by 2024.

The federal government has expanded into hundreds of areas that should be left to state and local governments, businesses, charities, and individuals. That expansion is sucking the life out of the private economy and creating a top-down bureaucratic society that is alien to American traditions.

The plan presented here would balance the budget in nine years and generate growing surpluses after that.

Translation: Federal “spending cuts” are reductions in money going to the private sector (i.e. you and me and your children and your grandchildren).

“State and local governments, businesses, charities and individuals” can run short of dollars. The federal government cannot run short of dollars. So the right-wing, Koch “solution:” Make you fund what the federal government easily can fund.

A federal surplus = a deficit for the private sector (you and me). So, “growing (federal) surpluses” take dollars from your pockets.

The rich are not concerned. The areas to be cut do not affect the rich. The cuts will widen the Gap between the rich and the rest.

The solution: Implement the Ten Steps to Prosperity

Proposed Rauner budget cuts kidney transplants for undocumented immigrants

Illinois allowed undocumented immigrants to acquire state-funded kidney transplants last year, a program that is set to be cut under Gov. Bruce Rauner’s proposed budget.

“This is a massacre to our community,” said Jose Landaverde, who led hunger strikes and marches to push for the kidney transplants. “People who need dialysis, they will die.”

Advocates have argued that providing kidney transplants would be cheaper than keeping the state’s 686 non-citizens on the state’s dialysis program, a number that has since dropped to 565, according John Hoffman, spokesman for the Illinois Department of Human Services, which coordinates the state’s Medicaid spending.

Now that undocumented immigrants volunteered to be organ donors under a new law that provides them state-issued drivers’ licenses, advocates added, it would be unfair to not allow them to receive donations.

Translation: Illinois (one of the many financially suffering states that the Cato Institute wants to burden with more expenses) is monetarily non-sovereign. It needs to find ways to cut expenses.

The federal government, being Monetarily Sovereign, creates all the dollars it needs, any time it needs them. The federal government should pay for America’s medical costs, and not put this burden on the states.

The rich are not concerned. They can pay for the best medical care. The cuts will widen the Gap between the rich and the rest.

The solution: Step #2 in the Ten Steps to Prosperity.

8 million phone calls unanswered as IRS cut taxpayer service

The IRS’ overloaded phone system hung up on more than 8 million taxpayers this filing season as the agency cut millions of dollars from taxpayer services to help pay to enforce President Barack Obama’s health law.

For those who weren’t disconnected, only 40 percent actually got through to a person. And many of those people had to wait on hold for more than 30 minutes, IRS Commissioner John Koskinen said Wednesday.

Translation: The federal government collects taxes it neither uses nor needs. It creates all the dollars it needs, simply by paying bills.

Yet despite not needing to ask anyone for its own sovereign currency, the federal government has created a byzantine mountain of tax laws, no average citizen can understand. Then, when citizens call for help from the government, they must wait for hours and still receive no help.

Gotcha!

The federal government falsely claims it had to cut services, in order to pay for other programs, despite the fact that the government never can run short of dollars.

The very rich are not concerned. They have accountants to take care of everything. The cuts will widen the Gap between the rich and the rest.

The solution: Step # 7 in the Ten Steps to Prosperity

Congressional Leaders Agree To Cut Aid To College Students To Pay Student Loan Contractors

Money appropriated for the Pell grant program this year would fall $303 million, or 1.3 percent, to $22.5 billion, according to a proposal first introduced over the summer by retiring Sen. Tom Harkin (D-Iowa).

Most of those funds would instead be used to pay private contractors that collect borrowers’ monthly student loan payments.

Translation: Politicians believe educating the poor and middle-income groups is not important to America.

What do the politicians say is important to America? Collecting on those student loans.

The very rich are not concerned. They don’t need grants and they don’t take out student loans. The cuts will widen the Gap between the rich and the rest.

The solution: Steps #4 and #5 in the Ten Steps to Prosperity.

VA Proposal Could Cut Aid for Veterans

The proposal would eliminate funding for assisted living services that many poor veterans rely on, said Patty Servaes of Elder Resource Benefits Consulting.

“In most cases, these are the poorest of the poor veterans,” she said.

(The benefit pays nursing home staff to make sure patients take their medications and help patients to take a shower, she said.)

The current benefit covers such minimal care, but the proposal classifies help with medications and daily living as non-medical, Servaes said. “Under these new regulations, that’s not going to qualify you,” she said.

Translation: The federal government, which never can run short of dollars, unnecessarily wishes to withhold benefits from poor and powerless veterans.

The rich are not concerned. They can pay for everything they need. The cuts will widen the Gap between the rich and the rest.

The solution: Step #2 in the Ten Steps to Prosperity.

78% oppose Walker’s proposal to cut school aid by $127 million

A strong 78 percent of Wisconsin voters oppose Governor Walker’s plan to cut aid to schools by $127 million, according to a new poll by the Marquette University Law School. Only 18 percent support the proposal.

Nearly as many — 70 percent — oppose Walker’s plan to cut $300 million to the University of Wisconsin System.

“This is one more wake-up call to politicians looking to cut millions more from Wisconsin public schools while increasing tax-funded subsidies to private schools,” said WEAC President Betsy Kippers.

Translation: The right-wing Governor of Wisconsin believes the education of the poor and middle-income groups is not important.

The very rich are not concerned. Their children go to private schools. The cuts will widen the Gap between the rich and the rest.

The solution: Steps #4 and #5 in the Ten Steps to Prosperity.

The list could go on and on. Unnecessariily cut, cut, cut, cut, the purpose of which is not to save money (The federal government doesn’t need to save money.)

The purpose is to widen the Gap between the rich and the rest.

That is what the politicians (bribed by campaign contributions and promises of lucrative employment later) successfully have done.

CUT, CUt, Cut, cut. The Gap grows ever wider.

Rodger Malcolm Mitchell
Monetary Sovereignty

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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.
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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
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.

#MONETARYSOVEREIGNTY