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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.
•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 between the rich and the rest..
How much is your child’s life, health and brain worth?
That is the question Justice Antonin Scalia and the other four right-wing justices want you and the government to answer.
High court blocks power plant regulations without cost estimates
Richard Wolf, USA TODAY, June 29, 2015
WASHINGTON – A narrowly divided Supreme Court on Monday blocked federal clean air regulations on coal- and oil-fired power plants that have been on the drawing board for a quarter century.
The 5-4 ruling stops the Environmental Protection Agency, at least for now, from imposing new rules designed to reduce the amount of mercury and other toxins that pollute the nation’s air, at an unknown net cost to companies and consumers.
The decision was written by Justice Antonin Scalia, with the other four conservative justices agreeing.
While the estimated annual cost of $9.6 billion is not widely disputed, the cost-benefit ratio is. Opponents said the benefits are as low as $4 million a year. Proponents said when all secondary pollutants are considered, they’re as high as $90 billion.
Only government agencies, especially the right-wing element of the Supreme Court could put a money value on the mercury and other toxins we breathe.
Here is what Scalia says about his favorite subject, money (what he terms, “free speech).
“One would not say that it is even rational, never mind ‘appropriate,’ to impose billions of dollars in economic costs in return for a few dollars in health or environmental benefits,” Scalia said from the bench. “No regulation is ‘appropriate’ if it does significantly more harm than good.”
How much mercury and other toxins, spewed into the air, is “good” compared with the “harm” of big corporations having to spend money?
Apparently, the Supreme Court wishes to listen to arguments about that.
The government said the regulations would prevent premature deaths and illnesses from asthma, cancer and heart disease, and protect pregnant women and unborn children whose fetal brain development can be harmed by overexposure to mercury.
Environmental groups said 4,200 to 11,000 lives could be saved each year.
Question for Justice Scalia et al: If the law would save “only” 4,200 deaths per year, is that sufficient? Or do you require saving 11,000 lives per year?
Or is even that number insufficient to satisfy the Republican Congress?
“The mere fact that the EPA wished to ignore the costs of its rules demonstrates how little the agency is concerned about the effects it has on the American people [and] the EPA continued to burden the public with more and more costs even as so many are still struggling to get by and improve their lives in this economy,” said House Majority Leader Kevin McCarthy, California Republican.
According to Rep. McCarthy, death, asthma, cancer, heart disease and injured fetal brain development are not a “burden” on the public. To McCarthy, the only burden is on corporate profits.
And what about those pregnant women and unborn children? Does the right wing care only about saving unborn children from abortion but not about saving them from mercury poisoning?
Is the difference that you wish to save rich corporations from money costs, but don’t wish to save poor women and children from life costs?
Vickie Patton, general counsel at the Environmental Defense Fund said, “With a few adjustments to its analyses, EPA can ensure that America’s children are protected from the toxic mercury pollution discharged by coal-fired power plants.”
But Richard Faulk, an appellate lawyer who represents companies against environmental damage claims, said forcing the EPA to consider costs represents a “clear victory for industry and the rule of law.
Well, we all can breathe easier now, knowing that industry has a clear victory, despite the toxic effects on the American people. Too bad our children can’t breathe easier.
The Supreme Court ruled last April that the government could compel 28 states to slash ozone and fine particle emissions from power plants because the pollution crosses state lines.
See, it’s like this. Ozone and fine particle emissions cross state lines. Mercury and other toxins stop at the state line and wait for permission from the Supreme Court.
Makes sense to me.
But if it doesn’t make sense to you, how about this one:
(In June) the court blocked the administration from requiring permits for greenhouse gas emissions from new or modified industrial facilities. But the justices said the EPA could regulate such emissions from industries already required to get permits for other air pollutants.
When judges make decisions based on what is best for the moneyed interests, while trying to pretend they’re’s not doing exactly that, the decisions eventually become more inconsistent and nonsensical.
How much is your child’s life, health and brain worth?
Perhaps you should ask the Koch brothers and the dozen or more Republican Presidential candidates.
Then they can tell the Supreme Court.
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.
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.