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•Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
•Any monetarily NON-sovereign government — be it city, county, state or nation — that runs an ongoing trade deficit, eventually will run out of money.
•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 the rest..
•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.
•Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..
Because the NRA has been so successful with its propaganda, you may not realize that:
For almost 200 years after it was adopted, the Second Amendment was interpreted to protect the right for militias to bear arms, but not individuals.
In 1939, the Supreme Court ruled in United States v. Miller that restricting access to shotguns or machine guns by citizens outside the military was permissible.
“The right to bear arms was thought to ensure well-regulated state militias,” Harvard constitutional law professor Richard J. Fallon told Mic. “Regulation of firearms was permissible as long as it did not interfere with state militias.”
Historically, conservatives actually tended to support gun control, seeing it as a way to stop crime.
That changed in the 1970s, when conservatives began to make the argument that the Second Amendments protects individuals, rather than just the military.
The current, right-wing interpretation of the 2nd Amendment, with the belief that the “militia” phrase has no meaning whatsoever, is a recent phenomenon.
The most important recent Supreme Court decision dealing with gun regulation came in 2008, when the court ruled in the case District of Columbia v. Heller.
At issue was the constitutionality of the District’s ban on handguns, which at the time was one of the most restrictive in the country.
In a 5-4 decision, the court struck down the ban, claiming it infringed on an individual right, namely “the right of the people to keep and bear arms.”
However, the court also explicitly stated that while owning handguns is protected as an individual right, possession of “dangerous and unusual weapons” is not.
Get it? Even the right wing court ruled that banning guns is constitutional, with the only question being, “Which guns can be banned.?”
Two weeks ago, 49 Republican senators voted against a failed bill that would have expanded background checks and closed the so-called gun show loophole, with Florida Sen. Marco Rubio stating that such an expansion “would impede the Second Amendment right of a large number of Americans.”
What these politicians get wrong: Those absolutist positions were never supported by the Supreme Court’s Heller ruling, which was intentionally narrow.
By broadcasting the same lie repeatedly, the politicians, well-paid by the NRA and gun manufacturers, have implanted the notion that any restrictions on gun ownership are unconstitutional.
Absolutely false. That wasn’t true when the 2nd Amendment was written, and it never has been true, since.
“Heller set out sort of a bare-bones holding that there is a constitutionally protected right to bear arms, but most of the hard questions have not yet been considered by the Supreme Court,” Fallon told Mic. “Although the Supreme Court has recognized a Second Amendment right to bear arms, it has not recognized an absolute right of everybody to bear arms, of all kinds, at all places, in all circumstances.”
Other constitutional lawyers go even further, saying that although conservatives may not want to admit it, Heller actually paved the way for more gun control restrictions.
“I believe ‘assault weapons’ are indeed what the court had in mind when it wrote in Heller about ‘dangerous and unusual weapons,” Harvard Law professor and renowned legal scholar Laurence Tribe told Mic. “I believe military-style assault weapons will never be protected by the court in the name of the Second Amendment.”
The only question is whether a bribed and cowardly Congress will pass more restrictive laws, and/or whether local and state governments have the will to challenge restrictions to a right-wing Supreme Court, known for ignoring the “militia” rule.
Tribe told Mic. “The Second Amendment and the Constitution as a whole are abused by those who treat them as a sick suicide pact.”
And now, I await the informative comments from those who have more guns than teeth, and fewer brains than either.
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 Click here
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
Recessions come only after the blue line drops below zero.
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.