THE BIG LIE OF ECONOMICS EXPRESSED IN ONE CARTOON Monday, Dec 28 2020 

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

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

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

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

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

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

Not one word of that is true.

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

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

Dana Summers

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

The truth:

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

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

And it is all a lie to keep you down.

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

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

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

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

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

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

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

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

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

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

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

You deserve it as much as the rich do.

Rodger Malcolm Mitchell

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

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

The most important problems in economics involve:

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

Wide Gaps negatively affect poverty, health and longevity, education, housing, law and crime, war, leadership, ownership, bigotry, supply and demand, taxation, GDP, international relations, scientific advancement, the environment, human motivation and well-being, and virtually every other issue in economics. Implementation of Monetary Sovereignty and The Ten Steps To Prosperity can grow the economy and narrow the Gaps:

Ten Steps To Prosperity:

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

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

MONETARY SOVEREIGNTY

The “Medicare for All” controversy Saturday, Sep 26 2020 

Because I have Medicare coverage, I received in the mail, my copy of “Medicare & You, 2021.”   Feel free to read it by clicking the link.

Though it is a huge book, about 140 pages long, describing many Medicare rules and coverages, it is not comprehensive. Medicare rules are complex, and there is much more a person needs to know.

For instance, individual states have separate rules, so many questions need to be answered by individual state representatives. And all the costs must be found elsewhere.

There may be three people on earth who have read and understand all the Medicare laws — or maybe not even three.

Here is Medicare’s brief summary:

To Qualify For Medicare:
If you’re already getting benefits from Social Security or the Railroad Retirement Board (RRB), you’ll automatically get Part A and Part B starting
the first day of the month you turn 65.

If you’re under 65 and have a disability, you’ll automatically get Part A and Part B after you get disability benefits from Social Security or certain disability benefits from the RRB for 24 months.

If you live in Puerto Rico, you don’t automatically get Part B. You must sign up for it.

If you have ALS (amyotrophic lateral sclerosis, also called Lou Gehrig’s disease), you’ll get Part A and Part B automatically the month your Social
Security disability benefits begin.

If you don’t want Part B, let us know before the coverage start date on your Medicare card. If you do nothing, you’ll keep Part B and will have to pay Part B premiums through your Social Security benefits. If you choose not to keep Part B but decide you want it later, you may have to wait to enroll and pay a penalty for as long as you have Part B

Summaries of benefits:

And this doesn’t even touch on the ten (!) different “Medigap” plans that cover some of what original Medicare doesn’t. The descriptions of these ten plans begin on page 71.

And then there are the numerous Medicare Part D (prescription drugs) plans.  We won’t even get into the convoluted, complex rules, and various coverage alternatives described on pp 75-85.

Another of the big problems with the Medicare, Medicare Advantage, Medigap, and Part D program is: You cannot know which plan is best for you.

The reason: You don’t know what your health situation will be in the coming months and years. You are forced to guess. So if you choose a plan that doesn’t cover your future misfortune, you’re out of luck.

Further, if you have a serious condition, and wish to change Medigap plans, you may not be able to find one that will accept you.

There are a great many limitations on who and what the various Medicare plans will cover, and none of it is free. You supposedly pay for it as part of your payroll taxes. We say “supposedly,” because every penny you pay in any federal taxes — payroll, income, etc. — every penny is destroyed upon receipt.

So you pay needlessly for incomplete, complex plans. Additionally, Medigap and Part D require separate, out-of-pocket premiums.

In short, unless you are a rocket scientist who also can see the future, you probably can’t have the plan that’s best for you.

There is a better way. In addition to eliminating the useless and regressive payroll tax, Medicare itself can and should be improved.

Here is a suggested summary of a Medicare for All plan:

To Qualify for Medicare for All:
You are a citizen of the United States, or you have lived in the United States and its territories, for at least 6 months in the previous calendar year.

Summary of the benefits:
1. You can go to any doctor or hospital that is accepted by Medicare for All, anywhere in the world.
2. You do not need a referral to see a specialist.
3. All medical services, including doctor, hospital, medically necessary services, and pharmaceutical costs (including dental, vision, and periodical examinations and treatments are covered by Medicare for All. There are no co-pays, deductibles, or out-of-pocket costs.
4. No pre-approvals are necessary.
5. There are no cost-limits.

That’s it. There is no need to determine which plan is best for you. The one plan is comprehensive. The federal government will pay for everything.

And lest you think such a plan will be too costly, remember this: The U.S. federal government is Monetarily Sovereign. That means it has the unlimited ability to pay for anything. It never can run short of dollars.

Proof of that is occurring right now, as this year the federal government has pumped an additional $4 trillion+ into the economy to help America survive the economic costs of the COVID-19 virus.

The more the federal government spends, the more economic stimulus the economy receives.

And no, federal spending never causes inflation, which always is caused by shortages, usually shortages of food or energy. Those notorious Zimbabwe and Weimar hyperinflations were caused by scarcities, not the resultant money-printing.

Then, we come to Congressional fear of insurance companies. These companies are nothing but middlemen between you and your healthcare providers.

They bribe your Congressional representatives to maintain the status quo. They add nothing; they merely pass your money along, while extracting a piece for themselves.

Original Medicare eliminated some of the insurance middlemen. It now is time to eliminate the rest.

Finally, we come to the dreaded word, “socialism.” Although the vast majority of Americans favor Medicare and its benefits, any expansion and simplification of these benefits is immediately and wrongly attacked as “socialism.”

It isn’t socialism. Socialism is government ownership and control over resources, not government spending. Medicare and Social Security are not socialism. The biggest example of socialism in America is the U.S.

military. Shall we do away with the military?

The VA hospitals, the federal highway system, NASA, the FBI and CIA are socialism. Shall we do away with them?

The “socialism” epithet is a lie when applied to Medicare for All. It is a lie designed to keep you from having the same healthcare the rich have.

Bottom Line
The United States has one of the worst medical programs of any major nation. The reason solely is due to debt fear-mongers who falsely proclaim that federal spending is “unsustainable.”

Given the federal government’s unlimited access to dollars, a simpler, more comprehensive health-care plan, totally funded by the federal government, can and should be instituted.

The fact that America doesn’t have one is a disgrace. We have a whole suite of expensive, yet inferior, incomplete plans, foisted on us by Congressional and Presidential cowardice and ignorance.

You deserve better.

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:

Ten Steps To Prosperity:

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

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

MONETARY SOVEREIGNTY

A serious healthcare problem. The simple healthcare solution. Thursday, Sep 24 2020 

Here are excerpts from a September 24, 2020 Email written by Sen. Dick Durbin, in which he eloquently expresses today’s most serious healthcare problem:

On November 10, just one week after Election Day, the Supreme Court will hear arguments in a case in which the Trump Administration and Republicans are arguing that the Affordable Care Act should be struck down in its entirety. 

If the Supreme Court does what the Trump Administration and Republicans are asking it to do, an estimated 20 million Americans would lose their health care coverage. 

Millions of Americans with pre-existing conditions would lose protections that the Affordable Care Act grants them against discrimination by insurance companies. 

Young adults up to age 26 would no longer be able to stay on their parents’ health insurance. 

Medicare would face insolvency sooner, and seniors could be charged more for prescription drugs.

And hospitals, especially in rural areas, would see significant revenue and job losses.

At this moment, in the middle of a global health pandemic, it is almost unimaginable that Republicans are trying to wipe out the critical health care protections in the ACA.  But that’s what they are fighting for in this case.  

You can’t afford my treatment because you voted Republican?

President Trump and Senator McConnell are ignoring the voice of the American people and are trying to rush a nominee onto the Supreme Court before this critical case that will decide the future of Americans’ healthcare. 

Considering all that is at stake, the American people’s voices should be heard and Justice Ginsburg’s last wish should be honored – no confirmation before inauguration.

In short, the healthcare problem is that a conservative Supreme Court, a Republican Congress, and a Republican President want to damage America’s already-shaky, expensive healthcare system.

The GOP’s purpose — their sole purpose — is to satisfy Trump’s maniacal urge to erase anything associated with Barack Obama.

Although Trump repeatedly has promised you a “better” program that will insure all Americans, in almost four years of his administration, no such plan even has been formulated or proposed, much less enacted. It’s all a Trump lie.

This is yet another example of how the GOP, the “party-of-the-rich,” attempts to make the rich richer by widening the wealth Gap between the rich and you.

The rich easily can afford to pay for their known and their unexpected healthcare costs, even without federal support.

Can you?

These are costs for the “average” person. If you have an impossible-to-predict health catastrophe, your healthcare spending may be far higher. Second, the above figures assume that healthcare costs in the future increase at the same rate as inflation. But in the last two decades, healthcare costs have increased twice as fast as inflation

You have, however, a solution: Vote Trump and the GOP Congress out. Their Democratic replacements will vote to provide healthcare insurance for every man, woman, and child in America.

No longer will you have to worry about the potentially disastrous costs of healthcare. No longer will you have to worry about whether you will receive care at all.

Your doctor will be paid. Your hospital will be paid. And you will receive the same care as the rich receive.

The cost can be borne entirely by the U.S. federal government, which being Monetarily Sovereign, has the unlimited financial ability to pay for anything, without levying taxes.

If you have logical concerns about your ability to qualify for, and fund, affordable healthcare, today and in the future, you now can do something about it: Vote the GOP out.

There was a time when the GOP cared about the poor and middle-income people. Today’s GOP is different. It has been taken over by the uncaring rich.

Even if your family and your friends always have voted Republican, even if, for whatever reason you hate Biden and the Democrats, there is a simple, smart financial choice available to you.

Make the wrong choice and you’ll be slapping your forehead for the rest of your life. You never will forgive yourself, and your kids never will forgive you.

Make the smart choice and you’ll be able to relax in confidence, knowing that all your, and your family’s known or unexpected healthcare costs will be paid for.

Vote. Vote smart.

It’s that simple.

Rodger Malcolm Mitchell

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

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

The most important problems in economics involve:

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

Wide Gaps negatively affect poverty, health and longevity, education, housing, law and crime, war, leadership, ownership, bigotry, supply and demand, taxation, GDP, international relations, scientific advancement, the environment, human motivation and well-being, and virtually every other issue in economics. Implementation of Monetary Sovereignty and The Ten Steps To Prosperity can grow the economy and narrow the Gaps:
Ten Steps To Prosperity:

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

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

MONETARY SOVEREIGNTY

Who wins the stupidity wars? Friday, Apr 3 2020 

Who wins the stupidity wars?

RUNNER STUPIDITY.png

And the winner is . . .

We’ve grown accustomed to Trump’s idiocies — his claim that he will replace Obamacare with “something great” (though he had no plan and still doesn’t), and that he “saved pre-Existing conditions in your healthcare” (while he goes to court to destroy the very program that offers coverage for pre-existing conditions).

OK, so that’s the Trump/FoxNews/BreitbartNews “Say stupid” system for eliminating any credibility the conservative movement once had.

Lately, amidst all the daily lies coming from the right, we had Georgia Governor Brian Kemp claiming on April 1, “. . . we didn’t know until the last 24 hours”  that people can be asymptomatic throughout the (COVID-19) disease and still spread it.”

(Fortunately, stupidity itself can be spread only when people are symptomatic.)

Sen. Blackburn — no genius

And now, we have Senator Marsha Blackburn (R-TN), whose latest contribution to right-wing stupidity is this:

Blackburn: China ‘Should Waive Some of Our Debt’ — ‘They Have Made a Global Pandemic Worse’

The United States owes nearly $1.08 trillion to Mainland China. Senator Marsha Blackburn (R-TN) argues China should consider waiving some of that debt given the communist nation’s role in the spread of the COVID-19/coronavirus.

The so-called federal “debt” is the total of deposits into Treasury Security Accounts held at the Federal Reserve Banks. This is China’s money, held by the U.S. government for safekeeping, at the direction of China.

Is Sen. Blackburn really suggesting that China give the U.S. government a few billion dollars? Does she not know that the U.S. government, being Monetarily Sovereign, has the unlimited ability to create dollars.

Does she not realize that China. like the U.S., is Monetarily Sovereign, so it too has the unlimited ability to create its own sovereign currency, which it can exchange for all the dollars it needs.

For China to give U.S. dollars to the U.S. federal government would be like you pouring a 1/100th thimbleful of water into the Pacific Ocean. It wouldn’t punish you and it wouldn’t reward the Pacific Ocean.

“One of the things is my Senate Resolution 553, which it expresses the sense of the Senate — that we know this came from Wuhan, China, and that they hid the information and were not transparent, that they blocked the World Health Organization and the CDC from coming into help.

“They tried to blame it on the U.S. military. And we hold them accountable.”

Clearly, Sen. Blackburn does not understand the irony of her statement.

It was her peerless leader, Donald J. Trump, who “hid the information and was not transparent,” and it is was Donald J. Trump who fired the U.S. pandemic response team in 2018.

And after first denying that there has been a slow response to the virus, Trump now blames impeachment for the slow response to coronavirus.

Perfect . . . as perfect as Trump’s famous phone call.

“I will tell you I think we need to look at the fact that China owns over a trillion dollars of our debt,” she said. “They like investing in us. Why do they like that? Because we are a safe debt for them — a safe place for them to put their money.

And knowing that they have made a global pandemic worse than it ever would have been because of their action — they should waive some of our debt.

They have caused us a tremendous amount of loss of life, loss of businesses, suffering, inconvenience, shutting down our economy.”

Yes, T-deposits are a safe place to put their U.S. money; safety is one reason why the U.S. provides for the deposits. That safety helps stabilize the dollar, which benefits us.

But, if Sen. Blackburn wants China (unnecessarily) to give the U.S. government some U.S. dollars, what does that have to do with the deposits?

China could (unnecessarily) send a billion, or even a trillion U.S. dollars to the U.S. government, just by pressing a computer key. This has zero relevance for the so-called “debt.”

Another component the Tennessee Republican argued for on the accountability front was to bring elements of manufacturing back from China to the United States.

“These are all things that we should take into consideration — bringing our manufacturing back, not only our pharmaceutical manufacturing — I was working with one of my colleagues today,” Blackburn explained. “There are other things we can bring back and put America back in the manufacturing business.”

“I told the Vice President the other night — I said, ‘Look, we should take my bill and some others that are focused on manufacturing and call it the MAMA Act — Make America Manufacture Again,’” she said. “And bring these jobs back to U.S. shores.”

And the purpose of “putting America back in the manufacturing business” is to what?

To increase our consumer prices, by forcing Americans to pay more for goods?

Or, to send U.S. dollars to a U.S. government that doesn’t need dollars?

Or, switch America to more manufacturing employment, which is far more vulnerable to pandemics than, for instance, online businesses?

We have borrowed $2 trillion to stabilize our economy.

China will turn around and buy that debt. They’ll buy that. That’s where they’ll park their money. They’ll buy those bonds. They’re going to end up enriching themselves through a problem that they caused.”

First, “we” (the federal government) didn’t borrow anything. We accepted deposits. We don’t need the dollars. We create all we need at the touch of a computer key.

Second, China parks their dollars there, as a safe, trading convenience. It’s good for us and it’s good for them. It helps stabilize the U.S. dollar.

Third, those deposits do not “enrich” China.

So Sen. Blackburn’s entire argument is a ballad to ignorance. She has absolutely no idea about how federal finances work, apparently believing they are like personal finances.

About the only thing I can say in defense of yet another bit of conservative obtuseness is that the liberals can be, and often are, stupid, too.

It’s just that beginning with “Dubya” Bush, and now Trump leading the conservative team, they have a huge, unfair advantage in the stupidity wars.

Because Trump says something stupid almost every day, we need to refresh our memories,  with this, this, this, this, and this. In the stupidity wars, Trump is the big gorilla  — the dumb one.

And then, if you add the conservatives’ dumb bigotry against everyone who is not a native-born, American, white, Christian, old male, having native-born, American, white, Christian parents, there really is no contest.

Conservatives win by a parsec.

And hey, who needs Medicare for All, anyway?

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

…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..

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

The most important problems in economics involve:

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

Wide Gaps negatively affect poverty, health and longevity, education, housing, law and crime, war, leadership, ownership, bigotry, supply and demand, taxation, GDP, international relations, scientific advancement, the environment, human motivation and well-being, and virtually every other issue in economics.

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

Ten Steps To Prosperity:

1. Eliminate FICA

2. Federally funded Medicare — parts A, B & D, plus long-term care — for everyone

3. Provide a monthly economic bonus to every man, woman and child in America (similar to social security for all)

4. Free education (including post-grad) for everyone

5. Salary for attending school

6. Eliminate federal taxes on business

7. Increase the standard income tax deduction, annually. 

8. Tax the very rich (the “.1%”) more, with higher progressive tax rates on all forms of income.

9. Federal ownership of all banks

10. Increase federal spending on the myriad initiatives that benefit America’s 99.9% 

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

MONETARY SOVEREIGNTY

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