Twitter: @rodgermitchell; Search #monetarysovereignty
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It takes only two things to keep people in chains: The ignorance of the oppressed and the treachery of their leaders..
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Unless you’re in the upper 1% income/wealth/power group, there is no logic to voting conservative, and it’s questionably moral.

Remember, if You Elect ‘Em; They Own You. YEETOY!

House GOP Budget Plan Cuts Medicare and Social Security

House Republicans released a 2018 budget plan that would make more than $200 billion in cuts to Medicare and Social Security, despite President Trump’s campaign pledge to keep those entitlement programs intact.

The proposal also serves “as a vehicle for changing taxes “the primary legislative focus of the 2018 budget.”

Fact: The conservatives wish to cut your Medicare and Social security while lowering taxes on the rich. You lose; they win.

You Elect ‘Em; They Own You. YEETOY!

 

 

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We are making a “bold effort” to cut Social Security and Medicare

 

“In past years, our proposals had little chance of becoming a reality because we faced a Democratic White House,” said House Budget Committee Chairman Diane Black. “But now with a Republican Congress and a Republican administration, now is the time to put forward a governing document with real solutions to address our biggest challenges.”

Mick Mulvaney: “It is a bold effort that follows the leadership of President Trump in making America great again. “Critically, this budget lays a pathway for Congress to pass, and President Trump to sign, pro-growth tax reform into law.”

Fact: Pro-growth tax “reform” means cutting taxes on the “makers” (the rich) and taking benefits from the “takers” (you).

That is how they will “make America great again” — for themselves.  YEETOY!

Trump: “Let Obamacare fail 

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We’ll just let it burn. Not my fault.

 

“Let Obamacare fail; it’ll be a lot easier,” Trump told reporters on Tuesday. “And I think we’re probably in that position where we’ll just let Obamacare fail.”

“We’re not going to own it. I’m not going to own it. I can tell you the Republicans are not going to own it.

We’ll let Obamacare fail, and then the Democrats are going to come to us and they’re going to say, ‘How do we fix it? How do we fix it?’ Or, ‘How do we come up with a new plan?'”

That is your President, telling you who elected him, that for spite he will not lift a finger to help save your health care insurance.

Your leader will just sit back and rather than trying to fix a program that has provided insurance to 20 million of our poorest Americans, he simply will allow the program to fail.

Then, you will have to crawl to the conservatives and beg them to save you.

You Elect ‘Em; They Own You. YEETOY!

Fannie Mae and Freddie Mac Would Be Privatized Under Proposed House Budget
By Emily Stewart

House Republicans want to privatize Fannie Mae and Freddie Mac as part of their 2018 budget proposal.

Fact: Privatization is a scam designed to put huge, risk-free profits into the pockets of wealthy investors. When the government privatizes, costs usually increase, services usually decrease and you are cheated.

The scam is based on the lie that for some unknown reason, private enterprise people supposedly are smarter and more efficient than government people, which is a bit like saying that Trump University was smarter and more efficient than West Point Military Academy.

The scam also is based on the lie that taxpayers fund federal spending (aka The Big Lie”).

You Elect ‘Em; They Own You. YEETOY!

(The GOP budget) assumes provisions of the House bill that would repeal Dodd-Frank.

Fact: The law known as “Dodd-Frank” helps protect the public (you) from the rapacious, criminal bankers who caused the “Great Recession” of 2008.  Conservatives, in league with the “banksters,” have spent years trying to cripple your protections.

To the degree Dodd-Frank is cut back or eliminated, the nation returns to the same precarious financial situation that resulted in a financial disaster for the 99%. (The 1% did just fine.)

And, despite massive profits and obscene salaries, the banksters continue to complain about their incomes.

The Wall Street banks that complain about burdensome regulation made $20 billion in profit last quarter: 
WRITTEN BY, John Detrixhe

The rules imposed after the subprime-driven meltdown favor things like simple loans and deposits, require big capital buffers in case there’s another crash, and discourage activities like trading with a bank’s own money. The result is a safer financial system, according to the Federal Reserve.

And despite grumbles from bankers about the new restrictions, the industry remains plenty profitable. Five of the biggest banks in the US have now reported second-quarter profits, which add up to a bumper $20 billion.

You Elect ‘Em; They Own You. YEETOY!

“The Treasury has already provided $187 billion in bailouts to Fannie and Freddie, and taxpayers remain exposed to $5 trillion in Fannie Mae and Freddie Mac’s outstanding commitments, as long as the entities remain in conservatorship,” the plan reads.

Fact: The foundation of conservative orthodoxy is the Big Lie that federal taxpayers taxes pay for federal spending. (While state and local governments do use tax dollar to pay for spending, the federal government creates brand new dollars, ad hoc, each time it pays a bill. No taxpayer dollars needed.)

(While state and local governments do use tax dollars to pay for spending, the federal government creates brand new dollars, ad hoc, each time it pays a bill. No taxpayer dollars needed. Even if federal taxes were $0, the federal government could continue spending forever.  This is known as Monetary Sovereignty.)

At no cost to you or to any other taxpayer, the federal government rescued Fannie and Freddie, which was a necessary step in curing the Great Recession. Had Fannie and Freddie been privately owned, who would have bailed them out and who would have received the money?

The rich, of course.

You Elect ‘Em; They Own You. YEETOY!

A 21st-Century Form of Indentured Servitude Has Already Penetrated Deep into the American Heartland
Posted on July 19, 2017 by Lambert Strether

Conservative corporatists (in) Idaho recently passed a law that recognizes and rigorously enforces non-compete agreements in employment contracts.

(This) means that if you want to move to a different or better job, you can instead get wiped out financially by lawsuits and legal costs.

Conservatives want employers to functionally own their employees.

Prior to the current Reaganomics era, non-compete agreements were pretty much limited to senior executives and scientists/engineers.

But should a guy who digs holes with a shovel or works on a drilling rig be forced to sign a non-compete? What about a person who flips burgers or waits tables in a restaurant?

Corporations are using non-competes to prevent even these types of employees from moving to newer or better jobs.

About 1 in 5 American workers is now locked in with a non-compete clause in an employment contract.

Before Reaganomics, employers offered (workers) benefits like insurance, paid vacations and decent wages.

That America has been largely destroyed by Reaganomics, and Americans know it. It’s why when Donald Trump told voters that the big corporations and banksters were screwing them, they voted for him and his party (not realizing that neither Trump nor the GOP had any intention of doing anything to help working people).

And now the conservatives/corporatists are going in for the kill, for their top goal: the final destruction of any remnant of labor rights in America.

Why would they do this? Two reasons: An impoverished citizenry is a politically impotent citizenry, and in the process of destroying the former middle class, the 1 percent make themselves trillions of dollars richer.

The Republican conservatives were not elected by the rich. They were elected by the 99%, who whose hopes were turned into belief by a political party and a dishonest man who cleverly told them what they wanted to hear.

You Elect ‘Em; They Own You. YEETOY!

Former Ethics Chief: I Was ‘Horrified’ By Trump Lawyer Request
By NICOLE LAFOND Published JULY 19, 2017

The day after he left his post as head of the U.S. Office of Government Ethics, former director Walter Shaub listed ethical abnormalities he encountered working under the President Donald Trump administration.

Shaub said he was “horrified” by Trump’s lawyer asking if the President could file his financial disclosure form without signing it.

On top of giving the appearance that he is “profiting from the presidency” by hosting foreign governmental events at his hotels, Shaub said the request from the President’s attorney about not signing financial disclosure forms was the “weirdest moment of my entire career.”

“I was horrified when I sat across the table from his attorney and she asked me if he could file it without signing it to certify that it’s true. 

“I pointed out to her that millions of financial disclosure reports have been filed in the past four decades and every one of them has been certified as true, and I think we could ask that of our President.”

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Hire me and I will guard you against foxes.

A parable: The fox told the farmer, “Your chickens are in danger from foxes. Let me guard them for you.” So the farmer hired the fox to guard his chickens against foxes.

Then the fox opened the door to the chicken coop and all the other foxes rushed in and ate the chickens.

The only question now: Will the farmer realize his mistake and fire the fox, or will he continue making the same mistake, again and again.

 

You Elect ‘Em; They Own You. YEETOY!

Rodger Malcolm Mitchell
Monetary Sovereignty

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The single most important problems in economics involve the excessive income/wealth/power Gaps between the have-mores and the have-less.

Wide Gaps negatively affect poverty, health and longevity, education, housing, law and crime, war, leadership, ownership, bigotry, supply and demand, taxation, GDP, international relations, scientific advancement, the environment, human motivation and well-being, and virtually every other issue in economics.

Implementation of The Ten Steps To Prosperity can narrow the Gaps:

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.
2. FEDERALLY FUNDED MEDICARE — PARTS A, B & D, PLUS LONG TERM CARE — FOR EVERYONE (H.R. 676, Medicare for All )
This article addresses the questions:
*Does the economy benefit when the rich can afford better health care than can 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 A MONTHLY ECONOMIC BONUS TO EVERY MAN, WOMAN AND CHILD IN AMERICA (similar to Social Security for All) (The JG (Jobs Guarantee) vs the GI (Guaranteed Income) vs the EB (Economic Bonus)) 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 EVERYONE Five 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 benefitting the nation is the purpose of the federal government, which has the unlimited ability to pay for K-16 and beyond.
5. SALARY FOR ATTENDING SCHOOL
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.
6. ELIMINATE FEDERAL TAXES ON BUSINESS
Businesses are dollar-transferring machines. They transfer dollars from customers to employees, suppliers, shareholders and the federal government (the later having no use for those dollars). Any tax on businesses reduces the amount going to employees, suppliers and shareholders, which diminishes the economy. Ultimately, all business taxes reduce 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 business taxes would be a 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.
8. TAX THE VERY RICH (THE “.1%) MORE, WITH HIGHER PROGRESSIVE TAX RATES ON ALL FORMS OF INCOME. (TROPHIC CASCADE)
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.

MONETARY SOVEREIGNTY