Should the United States be zero-sum or mutually beneficial?

Most games are zero-sum. Baseball, football, basketball, gin rummy, etc. If you win, I lose, so I must do everything possible not only to win, but also to make sure you lose.

Is that the type of United States of which you would be proud and in which you wish to live?

Or would you prefer a mutually beneficial United States?

Would you prefer a nation in which my winning supports your winning?

Most families are mutually beneficial. The traditional TV family of father works, mother cooks, children help out and learn to become good people, is an example of mutual benefit.

Two companies competing for the same business are zero sum.

But what about a company and its employees? The best ones are mutually beneficial. When the companies prosper, the employees prosper.

The worst companies are zero-sum, with the employees trying to get the most and the companies trying to give the least.

I remember being a Chicago Bulls basketball fan during the era of perhaps the greatest player of all time, Michael Jordan. Externally, they were zero-sum. When they won, the other team lost.

But internally, the team and Jordan were smart enough to realize that great as he was, Jordon couldn’t do it alone. So he took a lower salary than he otherwise could command, so there would be enough money to pay Scottie Pippin, Dennis Rodman, et al.

Together they won six championships.

The team owners set a salary ceiling, so that the richest owner wouldn’t acquire all the best players. But as greedy as the owners were, they realized that they had to leave enough to motivate enough great players, so fans would be attracted.

As a result, the owners became rich, and so did the players.

The very concept of the United States came with the realization that to acquire the benefits of mutual protection, each state had to give up some of its sovereignty to a central government. The Constitution itself is a result of compromise, and our glorious, democratic world comes from mutual benefit.

The short-sighted are selfish, and they refuse to compromise. The far-sighted understand the power of compromise, and realize that over the long run, giving a little to get a little becomes what these days is known as a “win-win.”

Today, that compromise, win-win, mutually beneficial idea has been lost, especially by the Republican party.

This is a party, led by a psychopathic, short-sighted philosophy. It has become embedded with the notion that anything the Democrats wish to do must be fought, lest the Democrats receive credit, regardless of the benefits to the United States as a whole.

This is a party whose politicians 100% voted against the $1.9 million dollar stimulus package despite the fact that it contains many things Republican constituents want and need.

The problem: It was a package put forth by Democrats, and heaven forbid that “enemy” party receive voter goodwill, despite the fact that the majority of Republican voters support the bill.

This is a party that puts loyalty to Donald Trump above loyalty to America, to its middle-class, or to its poor.

The idea that a politician should represent his/her constituents is largely gone. The idea that a politician should follow his/her conscience and do the right thing is totally gone.

One must admire the morality of the Democrats who seriously consider the impeachment of a governor from their own party, because he may have been too flirtatious with young women, and because he lied about COVID in nursing homes.

Can you imagine the Republicans wanting to impeach a politician who has admitted to grabbing women “by their p*ssies, and whose ongoing lies helped kill 500,000+ Americans?

Today, there are only two questions in American politics:

Will it help our side win?
Will it help the other side lose?

Lying is fine. Exaggeration, misleading, and defrauding are expected. If one group of voters leans toward the other side, try to cheat them out of their vote.

And of course, the “I-didn’t-lose;-I-was-cheated divisiveness is an admired “win-at-all-costs” ploy.

As for “What’s-best-for-America,” even the electorate believes that’s a loser’s game. The voters have become accustomed to the narrow-minded, massively unpatriotic notion of “Me first; to-hell-with-everyone-else.”

Patriotism has devolved to waving a flag, chanting “USA, USA” and vilifying half of Americans.

And as for that 100% who voted against the stimulus packages, and still denounce it because some of the money goes to something they don’t like, really? Really 100%?

Are you so willing to sink the opposition and see the entire country sink into poverty, that you cannot find it within your hearts and minds to allot some dollars to the “blue” states you despise?

Do you really hate the blacks and Mexicans so much that you feel they should be disenfranchised during the next election, just to make sure they have no voice in the future?

Do you really enjoy the ranting misstatements of an anti-unity, alienating little twerp like Tucker Carlson, who would slam Mother Theresa and your mother, if he thought they were Democrats?

If so, then I thank God you were not among the ones who created the United States and our Constitution, else we would be a balkanized little bunch of fiefdoms, powerless and laughed at by the world.

Today, the self-proclaimed “patriots” of some states, wish to leave the union so they can wave the Confederate flag above their own miserable tribes, perhaps to re-install slavery and erect statues to traitors.

It was not always thus. There have been times, even within the past few decades, when politicians of opposing political parties, negotiated “what-is-best-for-America.”

Even recently, President Biden invited ten Republicans to the White House to discuss the stimulus package.

Well, that was a bloody waste of time. The Republicans wanted the infinitely rich federal government to spend less so the poor and middle-classes could receive less.

Even after the Dems compromised (fruitlessly, as it turns out) by cutting back on payments, still 100% of Republicans could find nothing to compromise about.

And horrors, the monetarily non-sovereign, on-the-edge-of-insolvency “blue” states will receive money to help support their poor urban areas that already send more dollars to the federal government than they receive.

I have news for you politicians and voters: The “winner-take-all, I-win, you-lose” attitude has not “made America great again.” Instead, it greatly has weakened the United States and turned us into the Divided States of America.

Once we were respected and admired. Today, we are scorned.

To paraphrase the Margueritaville song:

You Republicans claim
The Dems are to blame,
But you know,
It’s your own damn fault.

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:

Monetary Sovereignty describes money creation and destruction.
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:

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

MONETARY SOVEREIGNTY

Fear and hatred, the evil twins of human emotion

Fear begets hatred.

These two emotions are twins, with fear being the firstborn and hatred eventually becoming the larger, evil twin.

It is impossible for you to hate what you do not already fear.

Fear is the shrinking emotion, manifested in cowering and retreat. Hatred is the aggressive emotion, manifested in anger and aggression. Evolution has given us these twin emotions — the most powerful emotions we own — as survival responses to danger.

Bigotry is hatred, and like all hatred, bigotry is caused by fear. If you hate blacks, browns, yellows, or reds, it is because you fear them. It is your fear that enables your bigotry.

When you hate, you wish to harm the thing you fear. You stomp on a spider, but not on a butterfly. You fear the spider; you don’t fear the butterfly.

Often, you yourself cannot stomp on that spider, so you enlist a proxy to do your stomping. The Ku Klux Klan was formed to provide harm to the feared and hated blacks. For millions of bigots, the KKK provided the proxy, doing the harm the bigots could not or would not do themselves.

Hitler promoted the “danger” of Jews and Gypsies being traitors who polluted the Arian gene pool. Germans were taught fear, which progressed to hatred, against which no amount of logic, reason, or facts could prevail.

The result was mindless hatred. No amount of “stomping,” even a horrifying death camp for innocent men, women, and children, could erase the fear. Only total eradication — the “final solution” — could ease the distress of the haters.

Hitler was the proxy, who claimed he was the “only” one who could save the fearful Germans.

Woman shot inside U.S. Capitol during pro-Trump mob riot has died – The Denver Post — **HATRED IS COWARDICE**

Bullying is another symptom of fear. The bully is afraid the world will see his/her shortcomings, so he seeks to express dominance. The bully tries to distance himself from those who are weaker, thinking that will make him look strong.

Bullying is encouraged by mobs of people doing what they don’t have the courage to do alone.

All those with a dictatorial bent — including the Donald Trumps of the world — are aware of the relationship between fear and hatred and the public’s wish to have a proxy do harm to those who are feared.

Trump told you Mexicans are dangerous criminals and rapists. He told you Muslims are terrorists. He told you Democrats would endanger you by taking away your guns and allowing vicious aliens to run wild.

And he told you he was the “only” one who could save you.

Trump manipulated your emotions first by making you afraid, then by stoking your hatred, then by offering himself as your proxy for harming those he has trained you to fear and hate.

Fear and hatred are such powerful emotions, they override logic and reason. Trump’s followers know he is a liar, a bully, a thief, and an incompetent. They know intellectually, he is one of the worst human beings ever to fall into the Presidency.

Those who are educated in psychology know Trump is a psychopath.

But his followers forgave him for everything because he promised them protection from what they fear and punishment to those they hate.

That fear-to-hatred path is what drives cults. Leaders of cults warn their followers about the dangers of the “outside” world, then claim that only they, the leaders, can protect the followers from those dangers, thereby generating absolute allegiance and obedience to the cult.

Breaking the hatred and unholy bond to the leader requires allaying the fear. Simple facts won’t do it; they are dismissed as “lies” by outsiders, and often serve as reinforcement of the leader’s warnings.

The hater not only must be made to feel comfortable with the object of his fears, but also be comfortable with rejecting the notion of fear, itself.

In short, it is a two-path journey.

On one path, the hater must be taught to look inward and to say to himself, “I am better than this. I am stronger than this. I safely can give these people my compassion.”

On the other path, the hater must be taught to look outward, at the object(s) of his hatred and say, “I do not fear them. They are people, just like me, and like me, they have hopes and loves and fears. They want the same kinds of things I want, and if I can get to know them better, we will find common ground.”

The most common fear-modulating device is called “exposure therapy,” which means what it sounds like. Graduated increases in exposure to the objects of your fear will reduce the fear which will reduce the hatred.

Example: Afraid of spiders? First, get a toy spider to play with. Then observe a real spider in a bottle. Then observe the spider on a table but trapped in a mesh cage.

Then reach into the cage with a pencil and touch the spider. Then reach in with your finger to touch the spider. Finally, reach in with your hand and allow the spider to walk in your palm.

Exposure therapy is difficult with humans. Even if you put a dozen black-fearing whites into a room together with a dozen white-fearing blacks, the two groups will tend to separate into”us” vs. “them.” Quite possibly, their fear and hatred will grow.

You see that effect in high schools and in prison populations.

Government encouraging inter-racial marriage probably long-term would reduce inter-racial fear and hatred. Presumably, there is some far away tipping point at which there are enough biracial children to create a quasi “herd-immunity” to racial fear and hatred. We won’t live long enough to see it.

There isn’t one basic cause of hatred-inducing fear. Every group is feared for something(s) different. For instance, blacks probably are feared most for crime. So, perhaps, the best cure for anti-black bigotry is to eliminate the anti-black fear by eliminating poverty.

Poverty is the single best predictor of crime, and crime begets fear, so eliminating black poverty would reduce anti-black bigotry.

Ironically, one way to reduce fear is to follow the lead of the cult leaders and induce another fear, a more acceptable fear.

During crises, people have been known to come together for mutual protection. Wars, for instance, tend to unite citizens of a nation under the banner of patriotism. The entire nation becomes the “we,” with the enemy becoming the “they.”

Ultimately, there may be no better way to eliminate hatred than to recognize it for what it is: An admission of weakness.

Haters like to pose as strong and forceful, when in fact they mask vulnerability and impotence. It was the cowards who comprised the lynch mobs and wore the KKK robes. It was the cowards who invaded Congress, doing in a mob what they would not have the courage to do alone.

Expressions of hatred are admissions of fear and weakness.

Teach that until it becomes common knowledge, and hatred may become less socially acceptable.

And maybe, just maybe, our democracy can avoid falling under the thumb of a brutal (and cowardly) dictator.

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:

Monetary Sovereignty describes money creation and destruction.
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.”

Ten Steps To Prosperity:

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

MONETARY SOVEREIGNTY

Is poverty harmful, harmless, or a benefit?

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.
================================================================================================================================================

Evolution requires that for any physical feature to last a long time it either must be harmless or a benefit. Over the eons, harmful features tend to disappear.

Consider toenails. Once we came down from the trees, toenails were of no imaginable use, but they require so little energy to grow, they have not been an evolutionary inhibition. So we still have them.

Poverty too, has been with our species for thousands of years. But one is reluctant to say it is harmless. So that leaves the possibility that poverty is a benefit.

Or, because it is a social feature, rather than a physical feature, rather than a physical benefit, might it only be a perceived benefit?

Regarding perception, the Democrats are about to pass what can be one of the most meaningful bills in many years — meaningful because that one bill can change common economics perceptions.

Child tax credit expansion sets up showdown with GOP
By ALEXANDRA JAFFE and JOSH BOAK
March 8, 2021

WASHINGTON (AP) — The massive ($1.9 trillion) coronavirus relief plan making its way to President Joe Biden’s desk includes a plan to temporarily raise the child tax credit that could end up permanently changing the way the country deals with child poverty.

The American Rescue Plan, expected to receive final approval this week, temporarily raises the child tax credit, now at a maximum of $2,000, to as much as $3,600 per child annually.

The plan also expands the credit so it’s fully available to the poorest families, instead of restricting it based on the parents’ tax liability. And it will be paid out in monthly installments, to offer families struggling during the pandemic a more consistent lifeline.

If the Democrats are smart (big “if”), they will resist the calls to raise taxes to “pay for” the bill. The Democrats simply should allow the federal debt to rise significantly. Let debt fear-mongers wring their hands, and offer up dire predictions, none of which will occur.

The legislation gives families up to $3,600 annually for each child under age 6 and as much as $3,000 for those up to 17.

The benefit is aimed at providing support to millions of families affected by the coronavirus pandemic. Democrats have embraced an analysis that found the proposal would cut child poverty 45%.

Republicans charge the move amounts to an expansion of the welfare state that will disincentivize parents from seeking work.

But Democrats hold out the proposal as a fundamental rethinking of the way the country approaches child poverty and an opportunity to address the income inequality that’s been exacerbated by the pandemic.

The old “disincentivize” myth simply means: “Give poor people some money, and they won’t work.”

Thus poverty is wrongly portrayed as a benefit to the economy in that it supposedly stimulates labor. That false belief provides a ready excuse to widen the Gap between the rich and the rest.

It’s utter nonsense of course, as demonstrated by all the middle, upper-middle, and even rich people who have plenty of money yet still work. It’s the common “laziness” slur on the poor, most of whom actually labor much harder than do most of the rich.,

Connecticut Rep. Rosa DeLauro, a Democrat who has been advocating for an expansion of the credit since 2003, said in a statement that “this legislation forever changes the way that our nation supports both middle-class families and children in poverty.”

DeLauro and other Democrats on Capitol Hill see the current legislation as laying the groundwork for a permanent expansion of the credit.

Indeed, Biden himself told House Democrats during a private call last week that he supports legislation that would permanently increase the child tax credit to $3,000 per child.

While Republicans broadly support the idea of expanding benefits for children, some have opposed the Biden plan for its price tag, and others have criticized it for divorcing the benefit from any work requirement.

“Price tag” is an argument that takes several forms, among which are the false notions that:

1. Federal taxes fund federal spending. FALSE

The Federal government uniquely is Monetarily Sovereign. It never can run short of its own sovereign currency. Even if it collected $0 taxes, it could continue spending, forever.

Rather than using tax dollars, the federal government creates new dollars, ad hoc, each time it pays a creditor.

While state and local governments (which are monetarily non-sovereign) do use state and local taxes to fund spending, the federal government actually destroys federal taxes upon receipt.

That is why no one can answer the question, “How much money does the federal government have?” The best answer is, “Infinite.”

Tax dollars never become part of any money measure (i.e. M1, M2, M3, et al). They simply are destroyed

2. Federal deficit spending causes inflation. FALSE

All inflations are caused by scarcity, usually a shortage of food and/or energy.

Federal deficit spending actually can cure inflation, if the spending is directed toward reducing the scarcity (for instance, by buying overseas and distributing the scarce goods, or by supporting the manufacture of the scarce goods).

3. Federal deficit spending slows the economy. FALSE

The most common measure of the economy is Gross Domestic Product (GDP), the formula for which is:

GDP = Federal Spending + Non-federal Spending + Net Exports

Increases in federal deficit spending increase all three terms in the GDP formula.

4. Federal borrowing competes with private borrowing. FALSE

Though state and local governments do borrow, the U.S. federal government does not borrow. Federal financing is nothing like state and local government financing.

Banks and credit card companies, which do the vast majority of lending in America, do not lend to the federal government.

5. Future taxpayers will have to pay for the federal debt. FALSE

Because the federal government has the unlimited ability to create dollars, it does not borrow. Instead, it allows for deposits into T-security (T-bill, T-note, T-bond) accounts.

When you buy a T-security, you are not lending money to the federal government. You are making a deposit into your own T-security account, held at the Federal Reserve Bank. There your dollars remain, collecting interest until maturity, at which time the government returns your dollars.

The federal government does not use those dollars to pay its creditors or for any other purpose.

No borrowing or taxpayer money ever is involved in T-security transactions. All taxpayer dollars are destroyed upon receipt.

6. Federal interest payments crowd out other federal spending. FALSE

The federal government has the unlimited power to create dollars. It can pay an infinite amount of interest.

Scott Winship, director of poverty studies at the conservative American Enterprise Institute, said his concern is that a permanent child allowance might make parents less likely to work and reduce the number of two-parent households, since there would be a stream of income from the government.

He wants to reduce child poverty but is concerned that doing so this way might worsen factors such as unemployment and single-parenthood that contribute to policy.

“The feeling is we win the battle against child poverty but we lose the war in the long run because we’ve created incentives that make it tougher to reduce poverty,” Winship said.

The conservatives want you to believe that giving the impoverished money increases poverty. Remember that bit of nonsense, every time to make a contribution to charity. According to the conservatives, when you drop a dollar into the bell-ringer-Santa’s pail, you are worsening poverty!

“If pulling families out of poverty were as simple as handing moms and dads a check, we would have solved poverty a long time ago,” Sen. Marco Rubio wrote.

Pulling families out of poverty is as simple as handing moms and dads checks, but ignorant and/or dishonest politicians won’t admit it.

But the expanded benefits included in the coronavirus relief plan set up a precedent that could put Republicans on defense on the issue. Because the benefit currently expires after a year, the Biden plan essentially creates a potential fiscal cliff for child poverty.

This could set up a political showdown during an election year on whether voters believe it’s acceptable for millions of children to lose the added aid and become impoverished once again.

“When it’s up for renewal, Republicans will be in the awkward position of opposing payments to families delivered through a credit that they pioneered, and championed as recently as 2017,” said Samuel Hammond, director of poverty and welfare policy at the Niskanen Center.

“No Republican wants to run on taking money away from families of any income,” Hammond said.

The Republicans never have expressed sympathy for the less-than-rich families. They tend to blame the impoverished for their own poverty, rather than to admit that good or bad fortune are the primary determinants of wealth.

Looking toward the midterm elections, the attack ads aimed at Republicans would simply highlight the party’s votes for tax cuts during the Trump administration in contrast with their votes against the Biden plan.

“It’s as simple as, when it was a vote on tax cuts for billionaires, Republicans voted yes, and when it was a check for you, they voted no,” he said.

If the Democrats avoid the pressure from the economics-ignorant, unnecessarily to raise taxes, the results might at long last demonstrate the facts of Monetary Sovereignty, and maybe, just maybe, we wouldn’t be subjected to the following Big Lies from such as the Committee For A Responsible Federal Budget (CFRB):

How High Are Federal Interest Payments?
Mar 10, 2021

This year, the federal government will spend $300 billion on interest payments on the national debt. This is the equivalent of nearly 9 percent of all federal revenue collection and over $2,400 per household.

Households don’t pay for federal interest payments.

The federal government spends more on interest than on transportation, education, and research and development combined.

The above statement is irrelevant. It only demonstrates that the government could spend more on transportation, education, and research and development.

The household share of federal interest is larger than average household spending on many typical expenditures, including gas, clothing, education, or personal care.

Again, irrelevant. Households do not pay for federal interest.

Growing debt levels add to the cost and risk associated with them.

The federal government has the unlimited ability to fund interest payments, which actually stimulate economic growth. There is no risk associated with federal spending.

Even with exceptionally low interest rates, the federal government is projected to spend just over $300 billion on net interest payments in fiscal year 2021. This amount is more than it will spend on food stamps and Social Security Disability Insurance combined.

It is nearly twice what the federal government will spend on transportation infrastructure, over four times as much as it will spend on K-12 education, almost four times what it will spend on housing, and over eight times what it will spend on research and development.

All the above demonstrates is the that government could, and should, spend more on food stamps, Social Security, infrastructure, education, housing, and research and development.

Interest payments effectively consume more than half of the worker-side payroll tax paid by households and are almost twice as large as total payments received through federal excise taxes and customs duties.

Interest payments do not “consume” any taxes. Federal taxes do not fund federal spending.

If interest rates were one percent higher than projected for all of 2021, interest costs would total $530 billion — more than the cost of Medicaid.

If rates were two percent higher, interest costs would total $750 billion, which is more than the federal governments spends on defense or Medicare. And at three percent higher, interest costs would total $975 billion — almost as much as is spent on Social Security benefits.

On a per-household basis, a one percent increase in the interest rate would increase costs by $1,805, to $4,210.

The CRFB keeps repeating the same lie, that federal taxes fund federal spending. They learned from Hitler that if you repeat a lie often enough, people will begin to believe it.

Trump used the same strategy with his repeat of the lie that the election was stolen. Millions of people believe that lie, too.

The higher the federal debt, the more exposed the federal government is to interest rate risk.

There is no risk to the federal government or to taxpayers. The government has the unlimited ability to pay its bills. There also is no risk of inflation, which is not caused by government deficit spending, but rather by shortages, usually of food and/or energy.

And now, here is the CRFB’s Big Lie in all its glory:

Once the U.S. recovers from the COVID-19 pandemic, policymakers should work to adopt a combination of entitlement reforms, smart spending reductions, and revenue increases that will ultimately put debt and deficits on a more sustainable path.

“Entitlement reforms” and “spending reductions” mean “cut Social Security, cut Medicare, cut all social benefits for the poor and middle-income.”

“Revenue increases” means “increase FICA and other taxes on the poor and middle-income.”

“Sustainable” is the CRFB’s favorite word, that actually has no meaning at all, but it sounds oh, so prudent, doesn’t it?

SUMMARY

The Big Lie in economics is: The Monetarily Sovereign U.S. government uses tax dollars to pay its bills. This lie prevents the government from supplying benefits to those who are not rich.

A corollary to the Big Lie is the notion that spending for social benefits discourages people from working.

The Big Lie and its corollary are disseminated by the media, the politicians, and the economists who are bribed by the rich so as to widen the Gap between the rich and the rest.

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:

Monetary Sovereignty describes money creation and destruction.
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.”

Ten Steps To Prosperity:

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

MONETARY SOVEREIGNTY

King Joe Manchin spreads the BS

Fate handed Sen.Joe Manchin (D-W.Va.), America’s ultimate swing voter, a big crown, and boy is he lovin’ it.

Suddenly, he has the entire Democratic Party sitting at his feet and fawning over his every word. Never mind that he often doesn’t know what he’s talking about. It’s pretty much the way the Republicans treat Donald Trump’s pronouncements, minus the grade-school insults.

Joe Manchin pledges to block Biden’s infrastructure bill if Republicans aren’t included

He’ll insist Republicans have more of a voice on President Biden’s next big package than they did on the COVID stimulus.

One wonders what “more of a voice” he means. The Republicans” version of a stimulus involved much less going to the poor and middle-classes, and lots more going to the rich.

As it is, the Dems caved by reducing the payout to the people who need it most. Should that payout have been cut even more?

But, it gets even worse:

Manchin said he’ll push for tax hikes to pay for Biden’s upcoming infrastructure and climate proposal, and will use his Energy Committee chairmanship to force the GOP to confront climate reality.

My conversation yielded the most extensive preview yet of how Manchin — a Democrat from a Trump state, in a 50-50 Senate, who relishes standing up to a Democratic White House — will use his singular power.

Federal taxes do not pay for federal spending. The government pays for its spending by creating brand new dollars, ad hoc. That is why it has been able to budget an additional $4 trillion in stimulus spending, with no tax increases.

Manchin said that with just a few concessions, it would have been possible to get some Republicans on the COVID relief package that passed the Senate this weekend on a party-line vote.

A few concessions?? The Dems gave them huge concessions — the much wanted $15 minimum wage is gone, and there is a 25% reduction in unemployment benefits — yet not a single Republican changed his/her vote. How do you explain that, Joe? Republicans need “more of a voice”? Really?

And he said he’ll block Biden’s next big package — $2 trillion to $4 trillion for climate and infrastructure — if Republicans aren’t included.

“I’m not going to do it through reconciliation,” which requires only a simple majority, like the COVID stimulus, Manchin said. “I am not going to get on a bill that cuts them out completely before we start trying.”

Manchin said Biden expects, and understands, the pushback: “He’s the first president we’ve had to really, really understand the workings of the Senate since LBJ.”

Asked if he believes it’s possible to get 10 Republicans on the infrastructure package, which could yield the 60 votes needed under normal Senate rules, Manchin said: “I sure do.”

It would be nice if Manchin understood the workings of the Senate. If he did, he would acknowledge that the Republicans do not want any Biden proposal to succeed.

The Republicans have one goal. They want to be able to crow about how Biden failed to get anything passed. To hell with America and its people. Votes and pleasing Trump are all they care about.

Manchin said the infrastructure bill can be big — as much as $4 trillion — as long as it’s paid for with tax increases. He said he’ll start his bargaining by requiring the package be 100% paid for.

Oh, good: A wholly unnecessary, $4 trillion tax increase. That ought to help the economy grow.

I have an idea, Joe: How about every member of Congress paying for his/her own health care insurance. Would that be a good start?

Manchin said that with all the debt we’re piling up, he’s worried about “a tremendous deep recession that could lead into a depression if we’re not careful. … We’re just setting ourselves up.”

Nice idea, except for one small fact, Joe: Recessions follow reductions in deficit growth and are cured by increases in deficit growth (aka, “stimulus”).

Reductions in federal debt growth lead to inflation — **History repeatedly shows: Reductions in debt growth introduce recessions (vertical gray bars), and recessions are cured by increases in federal debt growth**.

And as for depressions: Those are caused by debt reductions, and are cured by debt increases.

1804-1812: U. S. Federal Debt reduced 48%. Depression began 1807.
1817-1821: U. S. Federal Debt reduced 29%. Depression began 1819.
1823-1836: U. S. Federal Debt reduced 99%. Depression began 1837.
1852-1857: U. S. Federal Debt reduced 59%. Depression began 1857.
1867-1873: U. S. Federal Debt reduced 27%. Depression began 1873.
1880-1893: U. S. Federal Debt reduced 57%. Depression began 1893.
1920-1930: U. S. Federal Debt reduced 36%. Depression began 1929.
1997-2001: U. S. Federal Debt reduced 15%. Recession began 2001.

But hey, Joe, don’t let facts get in the way of myth.

He talked up an array of tax increases, including raising the corporate tax rate from the current 21% to 25% “at least,” and repealing “a lot of” the Trump tax cuts for the wealthy.

Manchin, sitting down with HBO in the Energy Committee hearing room where he now holds the gavel, said he’ll use his new position “to try and inject some reality” — starting with a hearing “on climate facts.”

Increasing the corporate tax rate, i.e. taking dollars from the private sector, will help grow the economy how?? Which economics books have you read, Joe?

Asked about Republican senators who won’t say that humans have affected climate, Manchin said: “Well, I think they know it.”

Of course, they know it. Every sentient human being on this planet knows it. So Joe, how exactly are you going to “inject some reality” when talking to people who already know the facts, but don’t give a damn?

Scientists have been injecting reality for decades. Now, you, the great and powerful Joe Manchin, are going to do the job?

Manchin warned fellow Democrats about ramming through legislation by simple majority:

Excuse me, Joe, but in what world does majority rule constitute “ramming through legislation.” The filibuster is simple minority rule. Is that what you prefer?

“I would say this to my friends. You’ve got power … Don’t abuse it. And that’s exactly what you’ll be doing if you throw the filibuster out.”

I would say this to Joe Manchin. You’ve got power. Don’t abuse it. That is exactly what you would be doing if you are the one person overruling the Democratic President and the entire Democratic Party.

Joe, the Democratic voters of West Virginia put you in; they can put you out, and they will if someone “injects some reality” into the next election.

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:

Monetary Sovereignty describes money creation and destruction.
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.”

Ten Steps To Prosperity:

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

MONETARY SOVEREIGNTY

Share this:

Share this:

Share this:

Share this: