THE BIG LIE OF ECONOMICS EXPRESSED IN ONE CARTOON

The science of economics is burdened with many lies and myths, most of which are designed to convince you, the public, you should not ask the federal government for benefits.

The Big Lie of Economics is: Federal taxes fund federal spending. It simply is not true. The truth: Federal taxes fund nothing.
Even if the federal government collected $0 taxes, it could continue spending, forever.

The very rich, who control the political establishment, want to widen the Gap between them and you. So they do everything possible to make you agree to have less than you really should. (It’s called “Gap Psychology,” the desire to distance oneself from those below, in any social/economic measure.)

Because “rich” is a comparative measure, the less the poorer have, the richer the rich are. That is why you are told federal deficits and federal debt are too high, and “unsustainable” — to provide you with a seemingly logical rationale for denying you the things they already have: The availability of:

–Significant income
–Safe and comfortable housing
–Comprehensive health care
–A happy, safe, well-fed, well-clothed lifestyle
–University education for your children
–Pleasant, remunerative working conditions
–A comfortable retirement

They tell you, falsely, that you must pay for federal spending, either via taxing or inflation, and that your federal benefits are the dreaded “socialism,

Not one word of that is true.

Federal taxing is not necessary for federal spending. Federal spending never causes inflation. And federal spending is not “socialism.”

And that is why the rich publish misleading cartoons like this:

Dana Summers
The federal government does not spend your money. Your federal taxes do not fund federal spending.

The truth:

1. The federal government does not spend your money. In fact, your federal taxes are destroyed upon receipt
2. You could have free, comprehensive Medicare covering you and everyone in your family, and not need to pay even one penny in FICA (which, by the way, is the most regressive tax in America.)
3. Your children could be educated, grades 13  and above, without any cost to you
4. You could be provided with sufficient income to afford good food, safe housing, good clothing, and the other benefits of being an American (car, TV, vacations, good working conditions, etc.)

Yes, the rich tell you the economy will falter without your hard labor and deprivation (though they themselves are excluded), and that only the rich are entitled to a good life, and that labor is moral (again, the rich are excepted).

And it is all a lie to keep you down.

Consider, for instance, the battle revolving around the $600 stimulus check vs. a $2,000 stimulus check.

Congress finally settled on $600, though there is not a single, economic reason for that limitation. Not one.

I challenge anyone to provide one good excuse for the lower number other than that the rich, and the party of the rich, don’t want you to have it.

The rich expect you not to understand the differences between our Monetarily Sovereign federal government and our monetarily non-sovereign state and local governments.

So, the politicians falsely claim that state and local governments struggle financially because they are inefficient, incompetent, and crooked.

Indeed, some are, but the real reason for the state/local government financial struggles is that they are monetarily non-sovereign.

They simply cannot afford to provide you with good streets, good water, good sewage systems, good elementary and high schools, good police and fire protection, and all the other benefits the federal government could pay for at the touch of a computer key.

The rich have managed to brainwash you into believing you deserve financial hardship and denial of benefits because you don’t labor hard enough or are not smart enough, and that the rich are the ones who deserve the lifestyles you admire.

This can change. The rich are not superior, more deserving Americans. Fate has just been kind to them.

You deserve to have all the benefits the rich have. But first, you must be willing to accept the truth. You must be willing to accept the fact that you have been lied to.

Yes, it is hard to admit you have been suckered all these years. But swallow your pride, understand the truth, and demand that the federal government, which has unlimited money, should even the score, and pay to give you the kind of life rich Americans enjoy.

You deserve it as much as the rich do.

Rodger Malcolm Mitchell

Monetary Sovereignty Twitter: @rodgermitchell Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell …………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..

THE SOLE PURPOSE OF GOVERNMENT IS TO IMPROVE AND PROTECT THE LIVES OF THE PEOPLE.

The most important problems in economics involve:

  1. Monetary Sovereignty describes money creation and destruction.
  2. Gap Psychology describes the common desire to distance oneself from those “below” in any socio-economic ranking, and to come nearer those “above.” The socio-economic distance is referred to as “The Gap.”

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 Monetary Sovereignty and The Ten Steps To Prosperity can grow the economy and narrow the Gaps:

Ten Steps To Prosperity:

  1. Eliminate FICA
  2. Federally funded Medicare — parts A, B & D, plus long-term care — for everyone
  3. Social Security for all or a reverse income tax
  4. Free education (including post-grad) for everyone
  5. Salary for attending school
  6. Eliminate federal taxes on business
  7. Increase the standard income tax deduction, annually. 
  8. Tax the very rich (the “.1%”) more, with higher progressive tax rates on all forms of income.
  9. Federal ownership of all banks
  10. Increase federal spending on the myriad initiatives that benefit America’s 99.9% 

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

MONETARY SOVEREIGNTY

6 thoughts on “THE BIG LIE OF ECONOMICS EXPRESSED IN ONE CARTOON

  1. The Wall Street Journal spreads the Big Lie, that being fiscally conservative requires destroying the economy by cutting deficits.:

    In a Tuesday editorial, The Wall Street Journal’s editorial board, typically on the side of the president, delivered some harsh words for his push to increase the $600 coronavirus stimulus checks to $2,000.

    The measure is opposed by Republicans “for good reason,” the editorial board writes.

    While “much of the GOP opposes a larger sum, Trump “decided that wasn’t enough,” the editorial board writes.

    It would add trillions of dollars to the deficit and leaves Senate Majority Leader Mitch McConnell (R-Ky.) with a “tough call,” they write.

    McConnell now has to decide whether to oppose Trump just days before a Senate runoff election in Georgia, or hold the vote and “split the GOP caucus and upset fiscally conservative voters,” the board says.

    A federal deficit is required for economic growth, and no matter how large the deficit, there is zero evidence it has any adverse effect on the economy, or on tax rates, or on the federal government’s solvency.

    Adding trillions of dollars to the deficit would help the economy recover. Federal deficit spending is necessary for economic growth. Period.

    Like

  2. How can even red necks say no to an extra 2 grand in their pocket? Do they say, “Oh sorry, let’s think about Wall Street reasoning and it’s self-serving formulas?”

    Liked by 1 person

    1. Logic seldom enters into our decisions, and this seems especially true those of us of the “less educated” variety. To quote from a Robert Reich article, today:

      “A president can obstruct special counsels’ investigations of his wrongdoing, push foreign officials to dig up dirt on political rivals, fire inspectors general who find corruption, order the entire executive branch to refuse congressional subpoenas, flood the Internet with fake information about his opponents, refuse to release his tax returns, accuse the press of being “fake media” and “enemies of the people”, and make money off his presidency.

      And he can get away with it. Almost half of the electorate will even vote for his re-election.

      A president can also lie about the results of an election without a shred of evidence – and yet, according to polls, be believed by the vast majority of those who voted for him.

      Trump’s recent pardons have broken (mores.)

      Not only has he shattered the norm for presidential pardons – usually granted because of a petitioner’s good conduct after conviction and service of sentence – but he’s pardoned people who themselves (broke mores.

      By pardoning them, he has rendered them unaccountable for their acts.

      They include aides convicted of lying to the FBI and threatening potential witnesses in order to protect him; his son-in-law’s father, who pleaded guilty to tax evasion, witness tampering, illegal campaign contributions, and lying to the Federal Election Commission; Blackwater security guards convicted of murdering Iraqi civilians, including women and children; border patrol agents convicted of assaulting or shooting unarmed suspects; and Republican lawmakers and their aides found guilty of fraud, obstruction of justice and campaign finance violations.

      The appalling reality is that Trump may get away with it. And in getting away with it he will have changed and degraded the norms governing American presidents.

      The (norms) he’s broken are invitations to a future president to break even more.

      Nothing will correct this unless or until an overwhelming majority of Americans recognize and condemn what has occurred.

      And now, we have Trump opting for a $2,000 check — something proposed by Democrats. But his Trumper followers have become so numb to reason that they reject what they logically should accept, because the time is too short for them to reverse their hatred of a Democrat program.

      Their tiny brains must be spinning in their hollow skulls, as they make this monster their “Most Admired Man.”

      (“Yes, children,” they say, “be like Donald Trump. Be incompetent. Blame others. Lie. Steal. Cheat. And maybe you too will receive enough votes from people like us, to be President.)

      Liked by 1 person

  3. And now, another helping of right-wing BS:

    Sen. Ron Johnson of Wisconsin –a top Republican ally of the president — renounced the prospect of $2,000 payments, citing concerns about the national debt and the need for more targeted relief.

    “I know it sounds good, it feels good to give away money. Everybody loves benefits,” Johnson told CNBC. “[But] somebody has got to be thinking about … the effect of this on our future generations.”

    If he were really thinking about future generations, he would be concerned about helping their parents today, and not spreading the BIG LIE that federal taxes pay for federal spending.

    Whether because of abject ignorance or outright lying, Ron Johnson does more injury to America than Vladimir Putin could even dream of.

    Liked by 1 person

  4. As long as the effect is on our future generations, there’s nothing to worry about Now. When the future arrives and payment comes due, simply make the payment in the usual MS fashion, ad infinitum. Debt is immediately handled by the usual means, no problem. The remaining interest/principle always disappears into the future where it cannot ever be of harm to anyone including our children who’ll adopt the same method of debt cancellation when their time comes to handle it.

    Liked by 2 people

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