Tag: cut taxes

–Causing the end of the Union as we know it — and all for blind hatred. Any sane voices out there? Hello?

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

Mitchell’s laws:
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The more federal budgets are cut and taxes increased, the weaker an economy becomes. .
●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.
●The single most important problem in economics is the gap between rich and poor.
●Austerity is the government’s method for widening the gap between rich and poor.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..
=========================================================================================================================================================================================================================

The Constitution of the United States is the fundamental arbiter of American lawThe U.S. Supreme Court translates the words of the Constitution into the realities of American law.

Article III. Judicial branch: SECTION. 1. The judicial Power of the United States, shall be vested in one supreme Court, and in such inferior Courts as the Congress may from time to time ordain and establish.

Congress proposes new laws. The President approves those laws unless overridden by Congress. The Supreme Court makes the final determination about whether those laws comport with the U.S. Constitution.

Thus, the three branches of our government — Legislative, Executive and Judicial — form a check and balance, that in total has comprised the law of our land, and is the basis of our strength.

People may disagree with some decisions and attempt to change them. (I personally don’t think corporations are people, nor do I think dollars are speech.)

But, those of us, who respect this nation of laws, follow those laws, while they are on the books.

Neither Congress nor the President judges cases and the Supreme Court does not propose new laws. However, the boundaries can be somewhat blurry.

Congress conducts “hearings” that very much resemble judicial trials in that there are attorneys, witness testimony, the threat of perjury, investigations, subpoenas and depositions and a finding, including contempt — and all are immune to due process laws.

The President may issue a “signing statement” that not only tells federal agencies how the President interprets a law that Congress has passed, but how that law is to be applied. This can have dramatic effects on the application of a law.

The Supreme Court, in its interpretations of the Constitution, may not only change existing law, but create entirely new law. This has been referred to as an “activist” Court. Many of the amendments in the Bill of Rights have been expanded in this way.

It is quite rare for any politician or lower court blatantly to disobey a Supreme Court ruling. Such disobedience, if successful, would set a horrifying precedent — a slippery slope — down which would slide our three-branch system of government.

The strength of the United States lies in the word “United.” Without a Supreme Court, our Constitution would be interpreted solely by regional or even local courts, ultimately disuniting the United States of America — aka “balkanization.”

We would be as Europe, subject to the same internecine strife and wars, year after year.

Considering the trauma such disobedience would cause America, it would be surprising for any informed American patriot, much less an entire political party, to suggest it.

Even the Civil War, which was based partly on bigotry, at least had an economic excuse. No thinking person wants another Civil war, for whatever the reason.

Yet here we are, the same threats and without even the economic excuse of the Civil war — this time based solely on blind hatred and bigotry: Religious hatred and sexual orientation bigotry:

The New Nullification Crisis: GOPers Vow To Defy SCOTUS Over Gay Marriage
By: Tierney Sneed, a reporter for Talking Points Memo. She previously worked for U.S. News and World Report.

Ahead of a potentially historic Supreme Court ruling, leading Republicans are vowing to defy any decision that sanctions same-sex marriage and are challenging the very legitimacy of the high court.

Opponents of same-sex marriage, including some of the major contenders for the 2016 GOP presidential nomination, are darkly warning that they will not “honor” an adverse Supreme Court decision.

Some are calling for civil disobedience.

Others are moving to strip the Supreme Court of its authority to decide whether gay couples should be allowed to marry, while others have questioned whether the court has that jurisdiction in the first place.

The opposition to same-sex marriage can be summarized as: “My interpretation of my bible says that gay people should not be allowed same-sex marriage.”

There are three parts to this bigotry, that could destroy the Union:

1. “My interpretation” overrides your interpretation. There may be millions of people — even the majority of Americans — who believe as you do, but I don’t care. I am willing to sacrifice this nation to get my way.

2. “My bible” is the only religious book that matters. I really don’t care what religious books you use, or what your religious leaders say. Your religious beliefs are wrong.

3. “Gay people” are not welcome in my world. In my opinion, they are inferior, damaged and evil, and should not have the same rights I have.

Here are some of the leading proponents of the new nullification:

Rick Santorum: “We’re not bound by what nine people say in perpetuity . . . the Supreme Court doesn’t have the final word. It has its word. Its word has validity. But it’s important for Congress and the president, frankly, to push back when the Supreme Court gets it wrong.”

Santorum is among the signers of the anti-gay marriage pledge being circulated by a group associated with the website DefendMarriage.Org.

The group recently placed a full-page ad in The Washington Post with an open letter to the Supreme Court promising civil disobedience if the court struck down bans on gay marriage.

“We will not honor any decision by the Supreme Court which will force us to violate a clear biblical understanding of marriage as solely the union of one man and one woman,” the letter said.

Actually, the Supreme Court does have the final word in America. That is why we have a Supreme Court.

Santorum is a self-described “religious” Christian. So long as you follow his religion and his interpretations, you’ll be safe in America. Otherwise, not.

Isn’t that what Christ taught?

Mike Huckabee: Also signed the DefendMarriage.Org civil disobedience pledge. (As President) he would ignore a Supreme Court ruling in favor of same-sex marriage.

“Presidents have understood that the Supreme Court cannot make a law, they cannot make it, the legislature has to make it, the executive branch has to sign it and enforce it. And the notion that the Supreme Court comes up with the ruling and that automatically subjects the two other branches to following it defies everything there is about the three equal branches of government.”

Er, uh excuse me Mr. Huckabee, but in fact, that is exactly what the three equal branches of our government is about. Otherwise, what would be the purpose of the Supreme Court?

Ted Cruz: “If the court tries to do this it will be rampant judicial activism. It will be lawlessness, it will be fundamentally illegitimate.”

What Cruz probably means: “My bigoted supporters don’t like it, so that makes it “fundamentally illegitimate.”

Ben Carson: “First of all, we have to understand how the Constitution works. The president is required to carry out the laws of the land, the laws of the land come from the legislative branch. So if the legislative branch creates a law or changes a law, the executive branch has a responsibly to carry it out. It doesn’t say they have the responsibility to carry out a judicial law. And that’s something we need to talk about.”

Hmmm, the neurosurgeon turned Constitutional expert now explains there are three different kinds of laws, legislative, executive and judicial. It will be interesting to hear which of our laws is which.

Sadly, we can’t have laws against bigotry and stupidity, so even fool MDs can say what they wish.

Steve King:has also introduced legislation the Supreme Court from considering the question of same-sex marriage. “We could pass this bill before the Supreme Court could even hear the oral arguments. That would stop it right then, there would be no decision coming out of the Supreme Court. This is a brake, and whether we can get the brake on or not between now and June, that we don’t know.”

Bigotry always is stupid, and King long has epitomized that stupidity. The notion that Congress could pass a law to prevent the Supreme Court from considering a law, would in of itself be unconstitutional. As my grandchildren would say, “Well, duh . . .”

Tom DeLay: “A ruling by the Supreme Court is nothing but an opinion if the legislative branch and the executive branch do not enforce it. Not only that, if the states would just invoke the 10th Amendment and assert their sovereignty, they can defy a ruling by the Supreme Court. It’s in the Constitution. We can tell the court what cases they can hear.”

To make this Union, the states voluntarily surrendered their sovereignty to a sovereign national government.

Aside from being stupid, bigotry is scary. DeLay not only doesn’t want to enforce what the Supreme Court decides (thereby nullifying the purpose of the Supreme Court), but he doesn’t understand what the word “Supreme” means.

The states cannot “defy” the Supreme Court (or, for instance, we could have a return to slavery. Uh oh. Maybe that’s the wrong example for DeLay of Texas.)

Texas State Rep. Cecil Bell: “The reality is that when the Supreme Court sets precedents, states don’t always adhere to them. I am not predicting what Texas will do — but to assume that Texas will suddenly change how it does business is presumptuous.”

Gee, Mr. Bell, exactly which Supreme Court decision do you plan “not to adhere to”? Sorry, but I don’t plan to visit you in prison.

Alabama State Supreme Court Chief Justice Roy Moore:

“When federal courts start changing our Constitution by defining words that are not even there, like marriage, they’re going to do the same thing with family in the future. When a word’s not in the Constitution, clearly the powers of the Supreme Court do not allow them to redefine words and seize power.”

To the crazed, bigoted mind, it must mean the Supreme Court can’t make decisions about words not in the Constitution, like for instance: “Marriage.”

Presumably, the Supreme Court also can’t make decisions involving such words as “Internet,” “automobile, “airplane,” “telephone,” “gay,” “bisexual,” “lesbian,” “atomic,” “Catholic,” “Protestant” “African American” “solar power” and . . . oh, you get the idea.

I patiently await the sane, tolerant, patriotic voices of the Republican Party. Are you people out there?

Hello?

Rodger Malcolm Mitchell
Monetary Sovereignty

==========================================================================================================================================================================
The Ten Steps to Prosperity:

1. Eliminate FICA (Click here)
2. Federally funded free Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Federally funded, free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually. (Refer to this.)
8. Tax the very rich (the “.1%”) more, with higher, progressive tax rates on all their forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

Initiating The Ten Steps sequentially will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.-

10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt

No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.

THE RECESSION CLOCK

Long term view:
Monetary Sovereignty

Recent view:
Monetary Sovereignty

Vertical gray bars mark recessions.

As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY

–Virtually everything that happens in economics is engineered by the rich: Kansas version

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

Mitchell’s laws:
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The more federal budgets are cut and taxes increased, the weaker an economy becomes. .
●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.
●The single most important problem in economics is the gap between rich and poor.
●Austerity is the government’s method for widening the gap between rich and poor.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..
=========================================================================================================================================================================================================================

Would it be too much to speculate that 99% of the literate world is completely clueless about the differences between Monetary Sovereignty and monetary non-sovereignty? Or is 99% an underestimate?

Surely, only a small percentage of the people, even those living the nightmare of the euro, understand what has happened to them. All they seem to understand is they are poor when pre-euro, they were not poor.

And not only don’t they understand that they have surrendered the single most valuable asset they have — their Monetary Sovereignty — but they don’t know why this was done, and who engineered it.

(Hint: The rich, of course.) Virtually everything that happens in economics is engineered by the rich.

And now we look at our brethren in Kansas, a monetarily non-sovereign entity, just like Greece, Italy, France and the other euro nations.

What’s The Matter With Kansas And Its Tax Cuts? It Can’t Do Math
Forbes: Business, JUL 15, 2014 @ 1:31 PM
Howard Gleckman, CONTRIBUTOR

The tax cuts in Kansas have been breathtaking. In 2012, at (Governor Sam) Brownback’s urging, the legislature cut individual tax rates by 25 percent and repealed the tax on sole proprietorships and other “pass-through” businesses.

In 2013, the legislature cut taxes again. It passed a measure to gradually lower rates even more over five years. By 2018, the top rate, which was 6.45 percent in 2012, will fall to 3.9 percent.

Kansas is a Republican state. Although the Democrats love the rich, they do save a bit of affection for the poor. The Republicans, by contrast, worship the rich, to the total exclusion of anyone having fewer than a hundred million in assets.

So when the Republicans cut taxes, they cut the taxes that mostly affect the rich: income taxes. And when they increase taxes, they increase the taxes that mostly affect the not-rich: sales taxes.

Brownback To Sign Historic Sales Tax Hike After Bruising Budget Battle

Kansas Gov. Sam Brownback’s signature personal income tax cuts emerged mostly intact from a grueling legislative fight to close a budget deficit that arose after revenue failed to match the conservative governor’s predictions of an economic boom.

Brownback and his GOP allies managed to avoid backtracking on past reductions on income tax rates.

Instead, they raised the state’s sales tax to one of the highest rates in the nation and smokers will be paying 50 cents more for each pack of cigarettes.

Get it? The rich-owned Republicans cut those pesky income taxes on the rich, and then replaced them with sales taxes that mostly impact the middle and low income people. It’s a direct transfer of dollars from poor to rich.

Two bills approved by Kansas legislators in the waning hours of their session will raise $384 million during the fiscal year beginning July 1, to avert a deficit prohibited by the state constitution.

The sales tax will rise to 6.5 percent from 6.15 percent and the cigarette tax will jump to $1.29.

Republicans who pushed the plan said its tax increases have to be seen in the context of the income tax cuts in 2012 and 2013, which the Legislature’s top tax analyst said could be worth $900 million annually.

Isn’t it beautiful?

The rich saved hundreds of millions of dollars a year, and the poor and middle classes will pay for it — and they have no idea what has been done to them.

So long as it’s positioned as anti-Obama and/or anti-liberal, that’s sufficient for them.

Ah, the bliss of ignorance.

We close this post with a sample of economic ignorance as expressed in the above-referenced Forbes article by Howard Glickman:

One cannot credibly argue that tax cuts increase revenue or even pay for themselves. They didn’t for Ronald Reagan. They don’t for Sam Brownback.

They won’t for the next politician who tries — whether he (or she) is in Washington, D.C. or in some state capital.

As has become the norm, Mr. Glickman and Forbes equate the Monetarily Sovereign federal government (which neither needs nor uses tax dollars) and the monetarily non-sovereign state governments (which both need and used tax dollars).

The rich-owned media help perpetuate that myth of equivalence, because it allows them to fool the public, and to transfer dollars from the 99.9% to the .1%, as requested by the .1%.

What do conservatives conserve? They conserve the riches of the rich.

Now that’s engineering.

Rodger Malcolm Mitchell
Monetary Sovereignty

==========================================================================================================================================================================
The Ten Steps to Prosperity:

1. Eliminate FICA (Click here)
2. Federally funded free Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Federally funded, free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually. (Refer to this.)
8. Tax the very rich (the “.1%”) more, with higher, progressive tax rates on all their forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

Initiating The Ten Steps sequentially will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.-

10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt

No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.

THE RECESSION CLOCK

Long term view:
Monetary Sovereignty

Recent view:
Monetary Sovereignty

Vertical gray bars mark recessions.

As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY

–Who is afraid of Greece leaving the euro — and why?

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

Mitchell’s laws:
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The more federal budgets are cut and taxes increased, the weaker an economy becomes. .
●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.
●The single most important problem in economics is the gap between rich and poor.
●Austerity is the government’s method for widening the gap between rich and poor.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..
=========================================================================================================================================================================================================================

By the time you read this, Greece may already have decided to quit the euro, or the euro may have decided to quit Greece.

Or Greece may have found a way to extend its slavery to the Troika, and further decimate its citizens, for another few years.

Not all EU nations use the euro. In fact some rather happy and successful nations have been clever enough to avoid the euro’s tentacles: Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania, Sweden, and the United Kingdom.

If so many EU nations already do not use the euro, why all the terror about Greece leaving the euro?

Why These European Countries Don’t Use The Euro
By Shobhit Seth | May 05, 2015

EU nations are diverse in culture, climate, population, and economy. Nations have different financial needs and challenges to address.

The common currency imposes a system of central monetary policy applied uniformly. What’s good for the economy of one eurozone nation may be terrible for another.

Most EU nations that have avoided the eurozone do so to maintain economic independence.

Here are a few reasons why many EU nations don’t use the euro:

Independence in Drafting Monetary Policies: The UK, a non-euro county, may have recovered from the 2007-2008 financial crisis by quickly cutting domestic interest rates in October of 2008. In contrast, the European Central Bank waited until 2015 to start its quantitative easing program.

Independence in Handling Country-Specific Challenges: Greece, for example, has high sensitivity to interest rate changes, as most of its mortgages are on variable interest rate rather than fixed. However, being bound by European Central Bank regulations, Greece does not have independence to manage interest rates.

Independent Lender of Last Resort: A country’s economy is highly sensitive to the Treasury bond yields. Non-euro countries have the advantage here. They have their own independent central banks which are able to act as the lender of last resort for the country’s debt.

Independence in Inflation-Controlling Measures: When inflation rises in an economy, an effective response is to increase interest rates. Non-euro countries can do this.

Independence for Currency Devaluation: Devaluing the nation’s currency makes exports cheaper and more competitive and encourages foreign investments. Non-euro countries can devalue their respective currencies as needed.

Exactly. The euro concept is wonderful, so long as there are no problems.

Eurozone nations first thrived under the euro.

The common currency brought with it the elimination of exchange rate volatility (and associated costs), easy access to a large and monetarily unified European market, and price transparency.

But as soon as each nation began to experience individual problems, different from its neighbors’ problems, the euro concept fell apart.

Why were the great economists of Europe unable to see that? Why did they not understand that Germany is different from France, which is different from Greece . . . etc?

Why did they not foresee that the solutions to one nation’s problems might be inappropriate to the problems of another nation? Surely, this was obvious, from the start.

Why did I, from far across the ocean, see the problems way back in 2005, when in a speech, I said, “Because of the Euro, no euro nation can control its own money supply. The Euro is the worst economic idea since the recession-era, Smoot-Hawley Tariff. The economies of European nations are doomed by the euro.”

This did not require any great insight on my part. It should have been clear even to the most casual observer. In adopting the euro, a nation surrenders the single, most valuable asset it has: It’s Monetary Sovereignty.

Nothing — not its natural resources, not its military, not its science and education, not even its population — is as valuable to a nation as its Monetary Sovereignty.

Given Monetary Sovereignty, a nation has the power to buy anything, sell anything, control inflations, prevent recessions, reduce poverty and make its citizenry wealthy.

Yet, the euro nations voluntarily surrendered their Monetary Sovereignty in exchange for easy trade. And now the euro, with its “easy trade,” predictably has turned into a mouthful of ashes

Was it stupidity, or was it something else?

As Sherlock Holmes said, “When you have eliminated the impossible, whatever remains, however improbable, must be the truth?”

I submit that it is impossible for so many economists to have been so stupid as not to see the obvious shortcomings of the monetary non-sovereignty the euro requires.

And I submit further that it remains impossible for so many economists to remain stupid, despite those shortcomings being played out, right in front of their eyes.

So if it is not stupidity, what remains is intent.

The leaders of the Troika, together with the leaders of the euro nations, actively want the citizens of Europe brought to their knees.

Who are the leaders? They are the same in every nation. They even are the same here in America.

The leaders are the very rich (the .1%), who want the Gap between the rich and the rest widened.

The Gap is what makes the rich rich, and the wider the Gap, the richer they are.

The rich are the ones who prevent America from using its own Monetary Sovereignty to grow the economy and to benefit the populace.

The rich bribe the politicians, the media and the economists to spread the Big Lie that the U.S. government is too big, can run short of dollars, and should cut its deficits.

By pretending that the finances of our Monetarily Sovereign government are the same as the finances of us monetarily non-sovereign folk, the rich brainwash the populace into accepting the bitter “medicine” of austerity.

To cure an anemic economy, the rich always prescribe economic leeches — reduced deficit spending, reduced Social Security, reduced Medicare, reduced aid to the poor, etc. — to drain us of our financial blood.

Making slaves of the monetarily non-sovereign Greeks, the French, the Spanish — even the Monetarily Sovereign British and Americans — et al is good for the rich. The more slaves the better, and their poverty makes the very rich even richer.

The greatest fear of the rich is that Greece will leave the euro, become prosperous, and demonstrate the utter bankruptcy of the euro. Then other nations will be tempted to follow, and the gravy train ride will end for the very rich.

Whenever you see something economically bad happening, always ask yourself, “Who benefits?” The answer inevitably will be: “The very rich.”

And who is hurt? The answer will be, “The rest of us.”

Rodger Malcolm Mitchell
Monetary Sovereignty

==========================================================================================================================================================================
The Ten Steps to Prosperity:

1. Eliminate FICA (Click here)
2. Federally funded free Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Federally funded, free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually. (Refer to this.)
8. Tax the very rich (the “.1%”) more, with higher, progressive tax rates on all their forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

Initiating The Ten Steps sequentially will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.-

10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt

No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.

THE RECESSION CLOCK

Long term view:
Monetary Sovereignty

Recent view:
Monetary Sovereignty

Vertical gray bars mark recessions.

As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY

–Crime rewarded is crime unlimited. The banks and bankers in America.

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

Mitchell’s laws:
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The more federal budgets are cut and taxes increased, the weaker an economy becomes. .
●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.
●The single most important problem in economics is the gap between rich and poor.
●Austerity is the government’s method for widening the gap between rich and poor.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Everything in economics devolves to motive, and the motive is the Gap.

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

As you must know by now, the major banks are the biggest criminals in America. Given the unlimited, unpunished, infinite opportunity to plunder, they have plundered — and continue to plunder — billions from the American public.

The major banks caused the Great Recession. They bought and sold worthless mortgages to the suckers who actually believed the banks were reputable and wouldn’t lie.

The suckers lost billions and the banksters made billions. All is well in Greedland.

Later, told to help struggling, underwater mortgagees via the Home Affordable Refinance Program (HARP), the banks stalled and stalled and forced people to jump through hoops, until the people couldn’t hold out any longer, and lost their homes to the rich manipulators.

For committing forgery, for lying to Congress, for stealing and for numerous other frauds, the banks paid “slap-on-the-wrist” fines totaling mere millions out of their billions in ill-gotten gains (aka “the cost of doing business”).

Steal a dollar; pay a penny; then complain about it.

Further, the banks were excused from criminal prosecution, while their executives were not personally liable at all. No fines or jail time for them.

In fact, they used the Federal dollars generously bestowed upon them, by the Obama/Paulson/Geithner sycophants-to-the rich, to grant themselves obscene paychecks and bonuses.

(Few Americans seemed to mind this charity for wealthy criminals. Rather, their desire has been to prevent unemployment benefits and food stamps from going to the poor souls desperate to support their families.)

If you are given a parking ticket, you will pay more than Jamie Dimon, the head of JPMorgan paid for grabbing hundreds of millions.

You might feel the heat and go to jail. The only heat Dimon feels is in a plush Caribbean resort, after a quick jaunt in his private plane. .

So runs rich-man’s justice in America, courtesy of Mr. “Everyman,” who has been brainwashed into believing the rich deserve their wealth, power, privilege and legal immunities, while the poor deserve their poverty.

At this point of the story, you reasonably might believe President Obama was the primary suck-up to the wealthy. After all, Obama is the fake “liberal” who pushed for his “Grand Bargain,” to cut deficits by reducing corporate taxes while increasing taxes on the 99% and cutting Social Security benefits.

And this pretend liberal, in cahoots with the Republican Party, desperately tried to rush through his Trans-Pacific Partnership without Congressional review. “Damn the details; full speed ahead.”

But all that is mere diversion. The truly rich are well aware of which side their gluttony is buttered on.

March 27, 2015, 10:09 am
Wall Street banks mull freezing Dem donations over Warren

Four major banks are threatening to withhold campaign donations to Senate Democrats in anger over Sen. Elizabeth Warren’s (D-Mass.) attacks on Wall Street.

Representatives from financial powerhouses Citigroup, JPMorgan, Goldman Sachs and Bank of America recently met in Washington and discussed the growing hostility towards big business within the Democratic ranks, according to a Reuters report Friday.

Bank officials cited Warren and Senate Banking Committee ranking member Sherrod Brown (Ohio) as the two main lawmakers leading the charge against them. But the banks have not agreed on how to respond together, with each firm making its own decision on donations, Reuters reported.

The so called “attack” is Warren’s demand that the banks operate in a safe and honest way. To the banks, this is heresy.

“Safe and honest? How do you expect us to receive our $100 million bonuses if we act safely and honestly?”

Citigroup representatives said their firm is already withholding donations to the Democratic Senatorial Campaign Committee (DSCC) to avoid boosting Warren and other progressives critical of Wall Street.

JPMorgan, meanwhile, has so far given Democrats only a third of its annual contribution. Sources there said company representatives have urged Democrats to soften their attacks on the financial sector.

Here are a few details of Senator Warren’s awful “attacks” that have the banksters running scared:

Elizabeth Warren Calls for Breaking Up the Banks

Sen. Elizabeth Warren, D-Mass., called Wednesday for breaking up big banks through structural reforms that would bring a decisive end to “too big to fail.”

Warren told a Levy Economics Institute conference she has worked with other lawmakers to advance a bill that would build a wall between commercial banking and investment banking.

Right. The Great Recession was caused by greedy banksters using their vast monetary resources to gamble in the markets and to sell worthless securities. Had they merely functioned as banks, the Recession would not have happened.

“If banks want to access government-provided deposit insurance, they should be limited to boring banking,” she said. “If banks want to engage in high-risk trading, they can go for it, but they don’t get access to insured deposits.”

Warren is one of those “libs” who (shame on her) actually cares about the 99%, and is willing to stick her thumbs in the eyes of the rich and powerful Jamie Dimons of the world.

She is unlike the self-proclaimed “family values,” self-proclaimed “religious,” self-proclaimed “patriotic,” but actually anti-poor, anti-middle, anti-black and brown, anti-gay, Tea/Libertarian/Republicans, who do the bidding of the rich like starving dogs on short leashes.

“Sit. Stay. Do as you’re told boy, and you get fed,” the rich tell these corrupted politicians. And they obey, voting as a group to help the banksters get richer and richer, at your expense.

Sadly, Warren doesn’t go far enough. There is not a single public purpose served by banks being privately owned, greed machines.

Private ownership of banks, and the resultant profit motive, with no possibility of punishment, is an open invitation to all the liars, crooks and swindlers in America to come together and feast on our money.

Crime rewarded is crime unlimited.

Step #9 of the Ten Steps to Prosperity calls for “Federal ownership of all banks.” It is discussed at
The end of private banking: Why the federal government should own all banks. and at The end of private banking. Part II

I truly am sorry Elizabeth Warren won’t run against those abysmal, lap-dog-to-the-rich candidates the Republicans have put forth.

But, what what about Bernie Sanders?

Not perfect, by any means, but surely better for the American middle class and poor, than yet another “Vote Bush For The 1%”.

We’ve been Bushed way too much, already. Crime rewarded is crime unlimited.

Rodger Malcolm Mitchell
Monetary Sovereignty

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The Ten Steps to Prosperity:

1. Eliminate FICA (Click here)
2. Federally funded free Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Federally funded, free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually. (Refer to this.)
8. Tax the very rich (the “.1%”) more, with higher, progressive tax rates on all their forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

Initiating The Ten Steps sequentially will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.-

10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt

No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.

THE RECESSION CLOCK

Long term view:
Monetary Sovereignty

Recent view:
Monetary Sovereignty

Vertical gray bars mark recessions.

As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY