Three things to remember as you watch Trump, Clinton speeches

Soon you will hire someone for the difficult job of being President of the U.S. As with any talent hunt, you’ll want to take into consideration certain key factors, while eliminating extraneous factors.

For example, the ability to be a good President does not rely on who cheated on a spouse, or who stole money. Personal morality never has been a good measure of Presidential effectiveness.

(Lyndon Johnson, for instance, may have been one of our least moral, but most effective, Presidents.)

Though the “job interview” speeches may seem complex, with both candidates offering excessive solutions to non-problems and bashing the other candidate for trivial offenses.

But it’s quite simple, really. There are three, and only three, issues:

1. The single biggest problem facing the U.S. economy and the world’s economy is: The Gap between the rich/powerful, and the rest, is too wide and continues to widen. (See: This is the single biggest problem facing America)

The Gap is responsible for our most serious ills:

  • Poverty: “Poor” is a relative term. The rich/powerful always have sucked the best out of the economy, leaving only the dregs for the rest.
  • Street crime: Have you noticed that most street (as opposed to white collar) crime occurs in poor neighborhoods and/or by poor people? Having little wealth and power, and with no hope of obtaining more, the poor resort to physical crime.
  • Gun violence: Street crime not only includes gun violence, but fear of street crime breeds the need for guns, which breeds more gun violence.
  • Poor health and early death: Unaffordable health care and bad (but cheap) food, shorten lives.
  • Lack of education: No one knows how many millions of children are born with native intelligence, but are unable to use that intelligence because they cannot afford a good education. The cost to America’s growth, well-being, power and prosperity is immeasurable.

By enabling poverty, street crime, gun violence, poor health, early death, and lack of education, the Gap adversely affects everyone — the entire nation — even including the rich.

When you listen to each of the candidates’ proposals, ask yourself this: Will this proposal help narrow the Gap between the rich/powerful, and the rest?

2. The single biggest Lie about our economy is: “Federal taxes fund federal spending.” (See: Monetary Sovereignty and Free Lunch)

This “Big Lie leads to:

  • Unnecessary, regressive taxes: The FICA tax, which purportedly funds Medicare and Social Security, in reality, funds neither. Even if FICA were eliminated, Medicare and Social Security could continue paying benefits, forever. The only thing FICA (and sales taxes, and income taxes on the non-rich accomplish is to widen the Gap)
  • Unnecessary reductions in Social Security, Medicare, Medicaid and other social programs. The false belief that the federal government “can’t afford” these programs, leads to ongoing attempts to reduce benefits.
  • Lack of federal spending to support infrastructure, research & development, scientific progress, and education.

When you listen to each of the candidates’ proposals, ask yourself this: Will this proposal reduce FICA, sales taxes and/or income taxes on the non-rich? Will it increase funding for social programs and science?

3. The single biggest consideration about the candidates is: What are their qualifications?

  • Will they do what they say they will do? What is their history? Whether in business or in government service, have they done what they promised to do?
  • What is their experience? When hiring for any job, past experience is one of the most important attributes a candidate can have.
  • Are their proposals truly feasible? One can promise to bring everlasting peace, and defeat all our enemies, but is this reality?
  • What is the nature of their lies? All politicians lie. The real question is not whether they lie, or even how much they lie, but how will their lies affect you? A lie about a personal indiscretion is much less important than a lie about one’s experience.

When you listen to each of the candidates’ proposals, as yourself this: Considering the nature of the candidate, is this proposal possible or even likely to occur?

In summary, ask yourself three simple questions:

  1. Will this proposal help narrow the Gap between the rich/powerful, and the rest?
  2. Will this proposal reduce FICA, sales taxes and/or income taxes on the non-rich? Will it increase funding for social programs and science?
  3. Considering the nature of the candidate, is this proposal possible or even likely to occur?

Those questions will help you wade through the clutter, the obfuscations, the personal insults and the moral digressions, and decide who should be President of the United States.

Rodger Malcolm Mitchell
Monetary Sovereignty

Ten Steps to Prosperity:
1. ELIMINATE FICA (Ten Reasons to Eliminate FICA )
Although the article lists 10 reasons to eliminate FICA, there are two fundamental reasons:
*FICA is the most regressive tax in American history, widening the Gap by punishing the low and middle-income groups, while leaving the rich untouched, and
*The federal government, being Monetarily Sovereign, neither needs nor uses FICA to support Social Security and Medicare.
This article addresses the questions:
*Does the economy benefit when the rich afford better health care than the rest of Americans?
*Aside from improved health care, what are the other economic effects of “Medicare for everyone?”
*How much would it cost taxpayers?
*Who opposes it?”
3. PROVIDE AN ECONOMIC BONUS TO EVERY MAN, WOMAN AND CHILD IN AMERICA, AND/OR EVERY STATE, A PER CAPITA ECONOMIC BONUS (The JG (Jobs Guarantee) vs the GI (Guaranteed Income) vs the EB) Or institute a reverse income tax.
This article is the fifth in a series about direct financial assistance to Americans:

Why Modern Monetary Theory’s Employer of Last Resort is a bad idea. Sunday, Jan 1 2012
MMT’s Job Guarantee (JG) — “Another crazy, rightwing, Austrian nutjob?” Thursday, Jan 12 2012
Why Modern Monetary Theory’s Jobs Guarantee is like the EU’s euro: A beloved solution to the wrong problem. Tuesday, May 29 2012
“You can’t fire me. I’m on JG” Saturday, Jun 2 2012

Economic growth should include the “bottom” 99.9%, not just the .1%, the only question being, how best to accomplish that. Modern Monetary Theory (MMT) favors giving everyone a job. Monetary Sovereignty (MS) favors giving everyone money. The five articles describe the pros and cons of each approach.
4. FREE EDUCATION (INCLUDING POST-GRAD) FOR EVERYONEFive reasons why we should eliminate school loans
Monetarily non-sovereign State and local governments, despite their limited finances, support grades K-12. That level of education may have been sufficient for a largely agrarian economy, but not for our currently more technical economy that demands greater numbers of highly educated workers.
Because state and local funding is so limited, grades K-12 receive short shrift, especially those schools whose populations come from the lowest economic groups. And college is too costly for most families.
An educated populace benefits a nation, and benefiting the nation is the purpose of the federal government, which has the unlimited ability to pay for K-16 and beyond.
Even were schooling to be completely free, many young people cannot attend, because they and their families cannot afford to support non-workers. In a foundering boat, everyone needs to bail, and no one can take time off for study.
If a young person’s “job” is to learn and be productive, he/she should be paid to do that job, especially since that job is one of America’s most important.
Corporations themselves exist only as legalities. They don’t pay taxes or pay for anything else. They are dollar-tranferring machines. They transfer dollars from customers to employees, suppliers, shareholders and the government (the later having no use for those dollars).
Any tax on corporations reduces the amount going to employees, suppliers and shareholders, which diminishes the economy. Ultimately, all corporate taxes come around and reappear as deductions from your personal income.
7. INCREASE THE STANDARD INCOME TAX DEDUCTION, ANNUALLY. (Refer to this.) Federal taxes punish taxpayers and harm the economy. The federal government has no need for those punishing and harmful tax dollars. There are several ways to reduce taxes, and we should evaluate and choose the most progressive approaches.
Cutting FICA and corporate taxes would be an good early step, as both dramatically affect the 99%. Annual increases in the standard income tax deduction, and a reverse income tax also would provide benefits from the bottom up. Both would narrow the Gap.
There was a time when I argued against increasing anyone’s federal taxes. After all, the federal government has no need for tax dollars, and all taxes reduce Gross Domestic Product, thereby negatively affecting the entire economy, including the 99.9%.
But I have come to realize that narrowing the Gap requires trimming the top. It simply would not be possible to provide the 99.9% with enough benefits to narrow the Gap in any meaningful way. Bill Gates reportedly owns $70 billion. To get to that level, he must have been earning $10 billion a year. Pick any acceptable Gap (1000 to 1?), and the lowest paid American would have to receive $10 million a year. Unreasonable.
9. FEDERAL OWNERSHIP OF ALL BANKS (Click The end of private banking and How should America decide “who-gets-money”?)
Banks have created all the dollars that exist. Even dollars created at the direction of the federal government, actually come into being when banks increase the numbers in checking accounts. This gives the banks enormous financial power, and as we all know, power corrupts — especially when multiplied by a profit motive.
Although the federal government also is powerful and corrupted, it does not suffer from a profit motive, the world’s most corrupting influence.
10. INCREASE FEDERAL SPENDING ON THE MYRIAD INITIATIVES THAT BENEFIT AMERICA’S 99.9% (Federal agencies)Browse the agencies. See how many agencies benefit the lower- and middle-income/wealth/ power groups, by adding dollars to the economy and/or by actions more beneficial to the 99.9% than to the .1%.
Save this reference as your primer to current economics. Sadly, much of the material is not being taught in American schools, which is all the more reason for you to use it.

The Ten Steps will grow the economy, and narrow the income/wealth/power Gap between the rich and you.


4 thoughts on “Three things to remember as you watch Trump, Clinton speeches

      1. The Republican anti-science, pro-rich, anti-poor, anti-minority platform is wrong for America, so I wanted them to have a weak candidate.

        I wanted Trump to win, because I believe the American people, as a whole, are smart enough to reject him.

        And yes, unions bribe Congress.


  1. That’s why the rich don’t like Unions. Competition. Unions give protection to individuals which is not the “level playing field” that suits the rich.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s