Job Openings for Trumpsplainers.

Though official data show unemployment in the U.S. has fallen below 5%, many people still unsuccessfully are looking for work.

There is one job that always will be open, because so many people are needed to fill it: Trumpsplainer — the people who ‘splain what Trump “really” meant after he says something stupid.

Currently, that job is filled by Mike Pence, and Donald Trump, Jr., and Kellyanne Conway (who took over after Corey Lewandowski, and Paul Manafort et al).

Trumpsplaining is not easy because of volume.  There simply are so many comments to ‘splain:

“On birtherism, Donald Trump’s campaign manager wants him to be somebody Trump doesn’t want to be

(Trumpsplainer) Kellyanne Conway, Donald Trump’s campaign manager, sat for an interview with CNN Friday morning in which she became the latest prominent surrogate for the Republican presidential candidate to attempt a walk away from his long support of the disproved notion that President Obama was not born in the United States.

==========================================================================================================================================================
Mike Pence defends Donald Trump comments on Vladimir Putin

“I think it’s inarguable that Vladimir Putin has been a stronger leader in his country than Barack Obama has been in this country. And that’s going to change the day that Donald Trump becomes president,” (Trumpsplainer) Pence said.

But pressed on the difference between the two nation’s governments — namely that in the US democracy presidents share power with Congress, Pence acknowledged that Trump was not advocating for a dictatorship.

“Donald Trump said last night he doesn’t particularly like the system,” Pence said in reference to Russia.

==========================================================================================================================================

Watch Kellyanne Conway fail to explain why Trump’s new immigration stance is different than Cruz, Rubio or Bush

Donald Trump campaign manager (and Trumpsplainer) Kellyanne Conway couldn’t explain how Donald Trump’s new immigration plan is any different than those proposed by Ted Cruz, Marco Rubio or Jeb Bush during the primaries.

We’re sure Kellyanne will become a better Trumpsplainer as she gets more and more and more experience.

There will be an ongoing need for Trumpsplaining — enough ‘splaining that she clearly is overwhelmed and needs help.

So, contact the Trump campaign and apply for the Trumpsplaining job.

Trumpsplaining may be what Donald Trump meant when he said he would be “The Greatest Jobs President God Ever Created”

The need for Trumpsplainers alone could cut the unemployment rate a few points.

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.
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 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 ANNUAL 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.
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 CORPORATE TAXES
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.
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

Follow-up: The end of private banking

Back in 2012, I posted: “The end of private banking: Why the federal government should own all banks.”

(The issue also is addressed in Step #9 of “The Ten Steps to Prosperity” [below]).

You might refer back to that post to get the full flavor of the argument, but the essence was:  Crime requires opportunity, reward, and risk assessment.

  1. The banks’ absolute control over dollars, provides ample opportunity for criminality.
  2. The vast amount of dollars controlled, provides ample reward for criminality.
  3. The risk of apprehension and punishment of banksters is low. Though determined regulation wouldn’t entirely prevent banking criminality, the banking industry’s wealth and current finance laws and the resultant bribery of politicians, discourages even minimal regulation.

The “Great Recession,” beginning early in 2008 (or late 2007, depending on definitions), which was caused by bank criminality, provides ample proof of #1-#3, above.

Crime involves the interaction of opportunity, reward and risk. Given plenty of opportunity, ample reward, and low risk, crime is inevitable.

Wells Fargo Fined $185 Million for Opening Phony Customer Accounts, Charging Fees Without Consent; Executives Go Scot Free

Wells Fargo employees opened roughly 1.5 million bank accounts and applied for 565,000 credit cards that may not have been authorized by customers, the regulators said in a news conference.

This was an astonishingly brazen, large-scale effort, clearly a systematic, institutionalized campaign.

It is virtually impossible for senior executives not to have known what was going on.

The big reason that Wells has managed to cultivate the myth that it is better managed than other large banks is that it is largely a traditional bank, as in it is not seriously involved in free-wheeling, high-risk, hard to manage investment banking activities.

But traditional banks, and above all retail banking operations, are extremely routinized. Customer-facing staff have virtually no discretion. 

In other words, there is no way to defend the lack of punishment of executives in a fraud of this scale that extended over five years.

Either they were in on it, or somehow lower level employees cooked this up and were able to hide it from the top brass. The latter would represent a massive control failure.

Under Sarbanes Oxley, the CEO and CFO are required to certify the adequacy of financial and operational controls. There is no way the Wells Fargo’s can have it both ways. Either they were in on the ripoff or they were not even remotely on top of what was happening.

But, in keeping with the half-hearted enforcement culture that has become normal in the US, the executives were allowed to get away with crooked conduct that unquestionably was their responsibility, whether by omission or commission.

Wells Fargo’s criminality involved all three problems: Opportunity, reward, and risk.

  1. The quantity of money private banks control which provides the opportunity for stealing and for political bribery.
  2. The profit motive,  which provides the reward for criminality
  3. And weak law enforcement, which eliminates the risk of apprehension and punishment.

And everything devolves to the profit motive:

Los Angeles City Attorney Mike Feuer sued Wells Fargo last year and accused the bank of high-pressure quotas for workers that encouraged them to skirt the rules.

“When I worked at Wells Fargo, I faced the threat of being fired if I didn’t meet their unreasonable sales quotas every day, and it’s high time that Wells Fargo pays for preying on consumers’ financial livelihoods,” Khalid Taha, a former employee, said in a statement..

If Wells Fargo were not privately owned, but instead were a federal government agency, there would be no profit motive to create “unreasonable sales quotas.”

Nor would there be a profit motive to galvanize political bribery.

Nor would there be a profit motive to create weak laws, and non-enforcement, and non-punishment of bank executive criminals.

Whatever your feelings about the mythical “superiority” of private industry over government agencies, and whatever your feelings about the federal government supposedly being “too big,” no public purpose is served by allowing privately owned banks. 

If the banking industry continues to be privately owned, criminal bankers will continue to invent ways to bribe politicians, cheat the public, and cause recessions.

If nothing changes, nothing will change. 

You know it; I know it: the Wells Fargo executives know it.

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.
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 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 ANNUAL 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.
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 CORPORATE TAXES
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.
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

Which is more important to you: Your privacy or your life?

Your privacy vs. your lifespan might seem like a strange alternative, something like baseball vs. celery, but in fact, it is one of the great questions of today and of tomorrow.

DISCOVER MAGAZINE, October 2016 edition:

Eric Dishman, a former Intel executive now at the National Institutes of Health, was a 19-year-old college sophomore when he was diagnosed with a rare form of kidney cancer.

Over the course of the next 23 years, he would receive 62 different kinds of chemotherapy, immunotherapy and radiation. Some slowed the tumor’s growth, but never for long. The cancer spread from his left kidney to right kidney.

Just when it seemed Dishman had run out of options, a chance encounter in 2012 with a scientist working for a now-defunct genome-testing company presented an opportunity he couldn’t refuse.

He had his cancerous tissue sequenced, a process that would compare his cancer’s mutated DNA with a healthy patient’s genome.

This would let doctors look for genetic mutations and other abnormalities that support cancer growth, and to use that information to devise a treatment strategy.

Dishman says he was “literally at death’s door,” when he got the call from his doctor. Computer scientists and data crunchers analyzed Dishman’s genetic data and pinpointed a drug — for pancreatic cancer — that targeted the unique features of his cancer.

This experimental drug homes in on the abnormal gene suspected to cause Dishman’s disease.

Within three months of starting treatment, he was cancer-free and eligible for the kidney transplant that ultimately saved his life.

Finding the differences among the myriad of different cancers, and then locating the single drug that will attack one specific cancer, requires massive amounts of information about massive numbers of people.

Today’s medicine esentially is a “one-size-fits-all” process.  Have a pain? Take ibuprofen or one of a dozen other common pain relievers, regardless of your physical, mental and emotional uniqueness.

If that doesn’t work, try something else. Keep trying, until you find something that works, even though it may cause unpleasant side effects, and even though it stops working in a short time.

Many people suffer and/or die while their doctors search and search for a treatment, and even then, who knows if the “treatment that works” is the best treatment?

Tomorrow’s medicine would know exactly what treatment works best for YOU. No experimentation needed.

But in order for that to become a reality, first, you must tell the scientists everything about you — and that means EVERYTHINGyour lifestyle (where you live and have lived, what you’ve eaten, drunk, and smoked, your age, your diseases throughout your life), plus all your relative’s lifestyles, your genome, your epigenome, their genomes, and epigenomes, etc., and you will update this constantly changing information every day of your life.

Everyone else in the world must do the same, to create a gigantic human database that can be used to find individual cures, not only for cancer, but presumably for all other human ailments.

Medical perfection, the medicine of the future –all we need are big enough computers:

Brian Druker, the director of the Knight Cancer Institute at Oregon Health and Science University (said) “You really need a dataset of 500,000 or a million people to start seeing patterns.”

Intel and OHSU have teamed up through a new, open-source platform called the Collaborative Cancer Cloud (CCC).

Today, when Druker wants to gain insight from patient data beyond his own institution, he must do so manually, by phone or email. It’s a painstaking process that can take weeks or months.

Though the CCC has just launched, its goal is to make this happen in less than a day by 2020 as more cancer centers join and share data.

“You get sequenced in the morning,” says Druker. “Your data is then compared against millions of other patients. By the end of the day, your doctor can say, ‘Yes, we have found the treatment for you and the data to support that choice.’

“You can’t tell a patient to be patient. They need treatments today,” he added.

If you have cancer, or some other intractable disease,  or simply are frightened about growing infirm and dying, you want this personalized treatment, now. But . . .

Many scientists cite patient privacy concerns, particularly given the recent spate of data breaches within health care organizations.

And data detached from names can still sometimes be used to identify supposedly anonymous patients.

Somewhere, in the “cloud,” you as an individual will exist as a stream of data, accessible by people you don’t know.

These people will be able to control your life, as though you are a puppet on strings.

More from the October 2016 Discover Magazine, By Cathy O’Neil

Credit scores are one of the formulas that determine our world. They often work against us, from job prospects to how long we’re on hold.

In the 50s, a mathematician named Earl Isaac and his engineer friend, Bill Fair, devised a model they called Fair, Isaac, and Corporation (FICO) to evaluate the risk of an individual defaulting on a loan.

This FICO score was fed by a formula that looked only at a borrower’s finances — mostly his or her debt load and bill-paying record.

Since Fair and Isaac’s pioneering days, the use of scoring has proliferated wildly. Today, we’re added up in every conceivable way as statisticians and mathematicians patch together a mishmash of data, from our ZIP codes and internet surfing patterns to our recent purchases (e-scoring).

Consider the nasty feedback loop e-scores create.

There’s a very high chance the e-scoring system will give the borrower from the rough section of East Oakland a low score.

Lots of people default there. So the credit card offer popping up will be targeted to a riskier demographic. That means less available credit and higher interest rates for those who are already struggling.

Fair and Isaac’s great advance was to (analyze) relevant financial data, like past bill-paying behavior. They focused their analysis on the individual — not on other people with similar attributes.

E-scores, by contrast, carry out thousands of “people like you” calculations.

And if enough of these “similar” people turn out to be deadbeats or, worse, criminals, that individual will be treated accordingly.

According to a survey by the Society for Human Resource Management, nearly half of America’s employers screen potential hires by looking at their credit reports.

Some of them check the credit status of current employees as well, especially when they’re up for a promotion.

The practice of using credit scores in hirings and promotions creates a dangerous poverty cycle. After all, if you can’t get a job because of your credit record, that record will likely get worse, making it even harder to land work.

Bottom line: Big Data can cure your diseases. It can find what you want and help you avoid what you don’t want.

But it can widen the gap between the rich and the rest, making permanent a worldwide caste system, dominated by those few elite having access to your data.

You can lead a perfect life, but if “people like you” lead imperfect lives, you will be tarred with the same brush, and no matter what you do, you will not be able to escape.

You will be who they say you are.

So we ask again, “Which is more important to you: Your privacy or your life?”

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.
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 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 ANNUAL 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.
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 CORPORATE TAXES
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.
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

Should the federal government give Louisiana billions?

Should the federal government give Louisiana billions of dollars?

Louisiana flood damage at least $8.7 billion, governor says
Associated Press, EMILY WAGSTER PETTUS and MELINDA DESLATTE, September 3, 2016

BATON ROUGE, La. (AP) — Louisiana Gov. John Bel Edwards says his state had more than $8.7 billion in damage from catastrophic flooding in August, and the figure will increase as officials finish assessing damage to roads and other public infrastructure.

The governor’s office Saturday released a letter Edwards sent Friday to President Barack Obama.

In it, the Democratic governor asked that Congress this month approve $2 billion in federal aid for Louisiana for housing, economic development and infrastructure. He said it’s a “very reasonable request,” adding to other programs assisting in Louisiana’s flood recovery, such as aid from the Federal Emergency Management Agency.

“While short-term relief for immediate needs available through FEMA for items such as temporary rental assistance, essential home repairs and other disaster-related needs are greatly needed and greatly appreciated, our full recovery will not be realized without additional help,” Edwards wrote.

Edwards said flood damage has been documented to more than 55,000 houses in Louisiana, and that could double as aid applications and inspections continue.

More than 80 percent of damaged homes lacked flood insurance because most were outside the 100-year flood plain. He said initial evaluations show the majority of flooded households were for people with low to moderate incomes, and 20 percent were renters.

More than 6,000 businesses flooded, with more than $2.2 billion in damages to buildings, equipment and inventory, Edwards said. He also said there are “conservative estimates” of more than $110 million in damage to agriculture.

Estimates are that about 30 state roads washed out and 1,400 bridges will need to be inspected

 

What is your answer: Should the federal government rescue individuals (most uninsured), businesses and infrastructure?

The federal government is Monetarily Sovereign, meaning it has the unlimited ability to pay any bill of any size, without tax increases. In fact, the federal government creates dollars by the very act of paying bills. That is the government’s money-creation method.

So, the federal government’s aid to Louisiana would cost us taxpayers nothing. The aid will be free to you, free to me, free to every American.

If the federal government does not help Louisiana, the people of the state will be thrown into permanent destitution. Many homes gone, many businesses gone, much agriculture gone.  Without homes and jobs, recovery without aid will be all but impossible.

Federal aid would do more than benefit the people of Louisiana. The input of dollars will benefit the entire American economy, by increasing the sales of all businesses, all over the country, that sell to Louisianans. This includes businesses in your state, perhaps even in your city.

So if saving thousands of men, women and children from poverty costs you nothing, and will benefit the entire American economy, should the federal government give Louisiana the needed money?

I suspect you, as a logical and compassionate American, would agree that federal help should be given.

Hey, it costs me nothing, and even benefits me, so why not?

But that being the case, why would we help only at times of massive, and sudden crisis?

If we are willing to lift people from poverty, while helping ourselves by stimulating the American economy, why not do it every day?

Poverty in America is not sudden. It is a life-consuming, grinding, existential reality for millions of people. If we are willing to help Louisianans who have lost their homes, lost their jobs and have trouble even paying for food, why wait for a natural disaster?

Why not help the poor, the homeless, the hungry, the jobless, now? And why not fix our roads and bridges, now

Hey, it costs me nothing, and even benefits me, so why not?

And if we are willing to lift people from poverty, why not help them stay out of poverty, by giving them an education?

The states and cities already provide free K-12 education, because we long have known how important education is for America, and that effort does cost us. (States and cities being monetarily NON-sovereign, do collect taxes to pay for schooling).

But K-12 isn’t sufficient in today’s more complex world. America’s growth and leadership rely upon educated  people. So why not provide free 13+ education?

Hey, it costs me nothing, and even benefits me, so why not?

We respond to the big things — hurricanes, big floods, forest fires — but sometimes we fail to respond to the day-to-day, individual disaster many people suffer.

Should we help individuals affected by a mass disaster, but not help individuals affected by a personal disaster? They all are suffering individuals, whether in groups or one at a time.

A child devastated by a sudden hurricane neither is less, nor more, impoverished, hungry and homeless, than a child devastated by life’s ongoing, daily circumstances. 

Why not prevent poverty rather than trying only to fix it after the fact? Do we really need hurricanes repeatedly to wake us up to the misfortunes many Americans face?

There is no reason why an infinitely wealthy government, that actually creates dollars by spending, should not care for all its citizens. That, after all, is the purpose of government.

(And no, we can’t use the “hyper-inflation excuse.” Not only has America never had a hyper-inflation, but being Monetarily Sovereign, we have the unlimited ability to control the value of our sovereign currency, the dollar.)

Yes, we should continue to provide aid to those affected by widespread disaster, but additionally, we should institute the Ten Steps to Prosperity:

  1. Eliminate the FICA tax
  2. Free Medicare, Parts A, B & D, plus long-term care insurance, for everyone
  3. Provide an annual economic bonus to every many, woman and child in America, and/or for every state, a per capita economic bonus
  4. Free education, including post-grad, for everyone
  5. Salary for attending school
  6. Eliminate corporate taxes
  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%

Instituting The Ten Steps to Prosperity will accomplish far more than the occasional response to disasters. It will prevent the ongoing disaster many of our fellow Americans live.

Hey, it costs me nothing, and even benefits me, so why not?

If you agree that helping individuals and states in the wake of natural disasters, then the same logic should lead you to support The Ten Steps to Prosperity.

Rodger Malcolm Mitchell
Monetary Sovereignty

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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 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 ANNUAL 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.
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 CORPORATE TAXES
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.
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