Tag: income gap

–The Tea Party has a plan for you.

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

Mitchell’s laws:
●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor, which ultimately leads to civil disorder.
●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.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The penalty for ignorance is slavery.
●Everything in economics devolves to motive.
======================================================================================================================================================================================

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  The Tea Party has a plan for you

          monetary sovereignty

          Austerity

                           Cut Federal Spending
        You don’t want any money. You don’t need any help.

Cut the deficit; Cut the debt; Cut Social Security; Cut Medicare; Cut Medicaid; Cut unemployment compensation; Cut bank regulation; Cut stock market regulation; Cut commodity market regulation; Cut food safety regulation; Cut drug safety regulation; Cut the Environmental Protection Agency; Cut FEMA assistance; Cut welfare; Cut food stamps; Cut low income energy assistance; Cut child support; Cut Head Start; Cut NASA; Cut road building and repair; Cut bridge repair; Cut FAA safety inspections; Cut air controllers; Cut antitrust regulations; Cut FDIC depositor insurance; Cut immigration and naturalization services; Cut the Census Bureau; Cut federal prison funding; Cut all federal courts; Cut copyright and patent administration; Cut the Corps of Engineers; Cut customs and border protection; Cut the Defense Advanced Research Projects Agency; Cut child nutrition programs; Cut aids to education; Cut the Endangered Species Program; Cut the FBI; Cut the CIA; Cut the NSA; Cut the Government Printing Office; Cut all federal museums; Cut the Smithsonian Institution; Cut the Job Corps; Cut the Justice Department; Cut the Military Academy; Cut the Naval Academy; Cut the Air Force Academy; Cut the Coast Guard Academy; Cut the Bureau of Labor Statistics; Cut the Library of Congress; Cut the Mint; Cut nuclear energy research and development; Cut the National Weather Service; Cut the National Transportation Safety Board; Cut the Oak Ridge National Laboratory; Cut the Peace Corps; Cut the Science Office of the Energy Department; Cut the Secret Service; Cut the State Department; Cut the Strategic Command; Cut the Treasury Department; Cut the Capitol Police; Cut the Veterans Affairs Department; Cut The Weights and Measures Division; Cut the U.S. AbilityOne Commission; Cut flu shots; Cut The Bureau of Alcohol, Tobacco, Firearms, and Explosives; Cut Congress; Cut the Supreme Court; Cut the White House; Cut the bankruptcy courts; Cut the Center for Food Safety and Applied Nutrition; Cut The National Oceanic and Atmospheric Administration; Cut The Economics and Statistics Administration; Cut The Bureau of Economic Analysis; Cut the Defense Technical Information Center; Cut The Department of Agriculture; Cut The Department of Commerce; Cut The Department of Homeland Security; Cut the Department of the Interior; Cut the Drug Enforcement Administration; Cut the Dwight D. Eisenhower School for National Security and Resource Strategy; Cut the Department of Energy; Cut the Federal Maritime Commission. We don’t need money; we don’t need help. We are self sufficient. Let’s be like Greece.

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Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================
Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
4. 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
8. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)

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.
Two key equations in economics:
1. Federal Deficits – Net Imports = Net Private Savings
2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports

THE RECESSION CLOCK
Monetary Sovereignty Monetary Sovereignty

As the federal deficit growth lines drop, we approach recession, which will be cured only when the lines rise.

#MONETARY SOVEREIGNTY

–Where have all the economists gone?

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

Mitchell’s laws:
●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor, which ultimately leads to civil disorder.
●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.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The penalty for ignorance is slavery.
●Everything in economics devolves to motive.
======================================================================================================================================================================================

Are you a student of economics? According to one measure, “In 2003, there were 89,000 undergraduate and graduate students enrolled in economics courses in the United States.”

So, when President Barack Obama said:

“It comes down to this: We have to prioritize. Both parties agree that we need to reduce the deficit by the same amount — by $4 trillion.”

Did you write to the President to tell him the U.S. should not reduce the deficit? Did you write to your Senator to say the federal government is Monetarily Sovereign, and that deficit spending is necessary to grow the economy? Did you tell your Congresspersons that deficit cuts unfairly harm the middle-class and the poor, and widen the gap between the rich and the rest.

If not, why not? After all, your 89,000 informed voices could change the world.

Are you a professor of economics? According to data derived from the U.S. Bureau of Labor Statistics, in 2009, junior colleges had 2,270 positions for economics professors. Colleges and universities, including professional schools, had 10,580 positions.

So, when Laurence Kotlikoff, Economist at Boston University, said:

“The US is bankrupt—not in 30 years, not in 10 years, not in 5 years, but today.”

Did you contact him? Did tell him “Lawrence, the U.S., being Monetarily Sovereign, has the unlimited ability to create dollars”?

Did you remind him that the U.S. never can be unable to pay its dollar-denominated bills unless it makes a conscious decision not to?

If not, why not? Consider the powerful effect of 12,000+ economics professors, correcting such obvious and pervasive errors in economics.

And you 89,000+ economics students — when Peter Schiff, author of the new book The Real Crash, said:

“We’re already bankrupt. Better to acknowledge that fact than to pretend we’re not.”

Did you write to him and tell him it functionally is impossible for the U.S. ever to be forced into bankruptcy? Did you tell him he is confusing monetary non-sovereignty with Monetary Sovereignty, and that while such monetary non-sovereign entities as Chicago, Cook County, California, Greece, IBM, you and me, all can be forced into bankruptcy, the U.S. cannot?

If not, why not? Why did you study economics?

And you economics professors, when Rep. John Boehner said:

“Were broke. America’s broke.”

Did you tell your students that John Boehner simply is wrong, and may just be trying to help the rich widen the income/wealth gap?

If not, why not? Why do you teach economics?

And all you students and professors of economics, when:

North Carolina Republican Rep. Sue Myrick said: “The government can’t afford to take care of everybody.”

and

Ohio Senator Rob Portman said: “Washington has proven time and time again that it does not have the answers to get the record budget deficits and debt under control. That’s why Congress looks to reduce Washington’s out of control spending.”

Did you write to your newspapers and TV stations, and tell them why these statements are ridiculous?

If not, why not? What is the purpose of learning economics, if you close your eyes to obviously wrong statements?

Would geographers ignore, without a whimper, Congress claiming sailing ships could fall off the edge of the world? Would astronomers be satisfied with the newspapers saying the sun revolves around the earth?

Why have you economists allowed nonsense to dominate the discussions of your science? Why have you students not challenged your professors, when they spew nonsense? Do none of you have the energy to learn even the basics of Monetary Sovereignty?

Oh, there are a few. The economics department of the University of Missouri, Kansas City (UMKC) understands the facts and tries to disseminate them. And there are a handful of professors at other schools — a bare handful — who also understand Monetary Sovereignty. But their voices are drowned out in a hurricane of misinformation.

So, is it that the rest of you economists, unlike all other scientists, simply have stopped learning, and are content to parrot the errors of your teachers and predecessors?

Or is it that because your university is supported by rich benefactors, you do not want to say anything that would upset the wealthy and detour your career?

I simply can’t understand it. With so many professors of economics, and so many students of economics, how you have allowed myths, not only to go unchallenged, but to dominate.

Really, where have all the economists gone?

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================
Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
4. 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
8. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)

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.
Two key equations in economics:
1. Federal Deficits – Net Imports = Net Private Savings
2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports

THE RECESSION CLOCK
Monetary Sovereignty Monetary Sovereignty

As the federal deficit growth lines drop, we approach recession, which will be cured only when the lines rise.

#MONETARY SOVEREIGNTY

–Loose the dogs of Congress. The Hearings are coming.

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

Mitchell’s laws:
●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor, which ultimately leads to civil disorder.
●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.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The penalty for ignorance is slavery.
●Everything in economics devolves to motive.
======================================================================================================================================================================================

The Tea/Republicans, who loved Obamacare when it was named “Romneycare,” now so object to the name change, they snarl, growl and gnash in crazed anticipation of that favorite Washington frolic: The Congressional Hearing.

As oft mentioned, the current economy-killing farce has nothing to do with the Affordable Care Act or with any other issue facing the nation. Real issues are handled by debate, votes and signing.

No, this is just the first act in a performance to entertain the ignorant masses, to distract from the true motives of the extreme right: Money and power, and widening the gaps, thereof.

The right-wingers are not concerned that ACA will fail. They are concerned it will succeed, and that people will like it. As Republican Sen. Ted Cruz said:

“On Jan 1 the exchanges kick in and the subsidies kick in. Once they kick in it’s going to prove almost impossible to undo Obamacare.

“The administration’s plan is very simple. Get everyone addicted to the sugar so that Obamacare remains a permanent feature of our society.”

(What an evil plan. The “sugar” is good healthcare, like Congress receives, and the fear is that this, ever so slightly, might narrow the gap between the rich and the rest.)

Having been bought and paid for by the Koch brothers, Pete Peterson and others of similar ilk, the GOP, being the party of patriotism and religion, feels obligated to destroy the American economy by stomping on our less empowered: The black, the brown, the gay, the non-Christian, the poor, the middle, the sick, the hungry, the homeless, the female, the uneducated, the child and the immigrant.

When the cracks appear in ACA, as they must in so monster a program, the lackeys for the rich will leap at each opportunity to enter dramatically from stage right, and impose Congressional Hearings, the favorite tool of the political flimflammer.

Oh, the outrage! The righteous indignation! The passion and rage. (Instruction to politician: Place back of hand against forehead in mock sorrow.)

Government geese will be dragged blinking into the TV lights, and demanded answers they do not have, while the inquisitors preen before the cameras and grin and wink at their voting base.

Random citizens with complaints about ACA, will be paraded forth as absolute proof of the program’s failure. (None of the newly insured millions, who previously could not afford health care insurance, will be mentioned.)

Nothing will be learned. Nothing will be accomplished. Nothing ever is. But nothing exceeds the vote-gathering, entertainment value, of a good old Congressional Hearing, especially if the witnesses stutter and sweat.

When the play ends, one will be left to wonder: With so many alienated by the extreme right, who remains as the voting base? The answer: Middle Aged, White Christian Men, Lacking Empathy for the Powerless – i.e. bullies.

Like all bullies, these bullies will get their comeuppance as they age. How will it happen? Will they lose Social Security to right-wing privatizing? Will they lose Medicare to right-wing austerity cuts? Will they lose wealth to right wing gap-widening? Or all of the above?

But no matter. All that concerns politicians is the here and the now, also known as the money and the votes. And while the nation’s voters may be outraged at what is being done to them, the politicians care only about their voters, especially in the House, where each member is elected by a tiny district.

You and the rest of the nation may recognize that, for instance, Michele Bachmann is a blooming idiot, but so long as the good people of Minnesota’s Sixth Congressional District thinks she’s a genius, it’s all she needs. The middle finger to the rest of America.

So sit back and enjoy the show. The Congressional Hearings are coming, and you’re paying for them.

And paying. And paying. And paying.

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================
Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
4. 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
8. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)

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.
Two key equations in economics:
1. Federal Deficits – Net Imports = Net Private Savings
2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports

THE RECESSION CLOCK
Monetary Sovereignty Monetary Sovereignty

As the federal deficit growth lines drop, we approach recession, which will be cured only when the lines rise.

#MONETARY SOVEREIGNTY

–How Republicans demand lawlessness to support the rich.

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

Mitchell’s laws:
●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor, which ultimately leads to civil disorder.
●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.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The penalty for ignorance is slavery.
●Everything in economics devolves to motive.
======================================================================================================================================================================================

In the post, “Our ‘Godfather’ system of government in action,” we described how the Republicans have decided Congress and the President no longer should be necessary for creating America’s laws.

Instead, the Tea Party / Republican system now is:
1. Think of a new law or the elimination of an existing law
2. Threaten to shut down the government unless the new law is passed or the existing law is voided.

Period.

No need for Congressional debate. No need for a President. So long as a group, no matter how small or extreme, has the power to shut down the United States government, the nation will be held hostage to their extortion.

Here are just a few of the Tea Party / Republican demands:

1. End child tax credit for undocumented immigrants
2. Reduce funding for the Consumer Financial Protection Bureau
3. One year delay in the Affordable Care Act (obviously, to be followed by a series of one-year delays)
4. Broaden the tax base (i.e., make the poor pay more).
5. Keystone pipeline, more offshore oil drilling, energy production on federal lands
6. Eliminate the part of ACA that funds preventive care.
7. Limit malpractice lawsuits
8. Reduced coal ash regulations
9. Reduced Environmental Protection Agency carbon regulations
10. Repeal the Social Services Block Grant, which pays states for daycare and services for people with disabilities
11. Overturn the Federal Communications Commission’s regulations that prevent internet service providers from discriminating for big, wealthy websites and against average users.
12. Reduce payments to hospitals that treat a disproportionate number of indigent patients

And many, many more, nearly all of which benefit the rich vs. the rest.

In short, the Tea Party branch of the Republican Party, which is supported by the rich, has such political power (i .e. financial power), it can demand that Congress and the President do exactly what it wants.

Or else it will destroy the American economy.

None of this is about the issues. None of this is about “Obamacare.”

If it were about issues, each of these issues could be discussed in Congress, voted on and if passed, sent to the President for his signature.

No, this is about raw power – the power to widen the gap between the very rich and the rest of the nation.

The Tea Party, supported by such billionaires as the Koch brothers and Pete Peterson, and other right-wing extremists, is composed of mean-spirited people, who while doing the bidding of the ultra-rich, try to portray themselves as religious patriots.

As I have said previously, they are neither religious nor patriots. Not religious, because they have no regard for the powerless – the poor, the immigrants, the minorities — and in fact, are paid to stomp on these people who have few defenses.

Traitorous, because they are willing to destroy their own country, just to get their way.

If the President were to cave to the Republicans’ demands, America would be a nation without laws. Any group that could muster enough votes to prevent a government funding bill, would be able to change every law in America.

This, of course, is what the uber-rich want. Because our nation was founded on the principle of equality, most of our laws are designed to protect the middle-class and the poor from the rich.

It is the rich who benefit, and the poor who suffer, when lawlessness is fostered.

The Republicans have opened a Pandora’s box that transcends Obamacare. It is about ending all legal protections for any who are not part of the upper .1%.

Think about the Republican demands and you will see: This is about raw, unbridled, unregulated power for the rich.

The average American will suffer. I wonder how many will vote Republican.

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================
Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
4. 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
8. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)

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.
Two key equations in economics:
1. Federal Deficits – Net Imports = Net Private Savings
2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports

THE RECESSION CLOCK
Monetary Sovereignty Monetary Sovereignty

As the federal deficit growth lines drop, we approach recession, which will be cured only when the lines rise.

#MONETARY SOVEREIGNTY