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

President Obama has made no secret of his being a conservative in liberal’s clothing.

JULY 27, 2011
President Obama and Speaker of the House John Boehner tentatively agreed to gradually raise the Medicare eligibility age as part of a “grand bargain” to increase the nation’s borrowing limit.

Details of the plan were not yet finalized before the Obama-Boehner talks collapsed on Friday. But in general, the agreement called for very gradually increasing the eligibility age from 65 to 67 over about two decades, according to administration and Republican congressional sources.

The “grand bargain” was to make the elderly (with limited finances) pay more, while the government (with unlimited finances) pay less. The purpose: To please the rich by widening the gap between the rich and the rest.

But now, what will this conservative in liberal’s clothing do?

10/26/13
CBO Torpedoes Idea Of Raising Medicare Eligibility Age

According to a new report from the Congressional Budget Office, one of the most frequently pushed plans to reduce the federal budget deficit would barely yield any actual savings at all.

While the CBO had estimated in 2012 that raising the eligibility age would save the federal government $113 billion over 10 years, it now estimates that the reform would save only $19 billion over the next eight years.

“Oh, woe,” cries the President. “Now how can I brown up to the wealthy? Will I get my huge Presidential Library? Will my wife and I get those lucrative speaking engagements, like Bill Clinton gets? Will my daughters get high-paying jobs they really won’t deserve? Will those rich publishers print flattering books about me?”

Republicans can safely be expected to propose the reform again in the upcoming budget conference; this time, however, liberals have hard, non-partisan evidence with which to push back.

What liberals?

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

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

#MONETARY SOVEREIGNTY

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

Where are the liberals? Where are the economists?

America has two political parties: The right-wing Democrats and the extreme right-wing Tea/Republicans. Who speaks for the left wing?

The National Memo
Block A Grand Bargain With Bold Progressive Solutions To Social Security And Medicare
October 22nd, 2013, Richard Kirsch

In his post shutdown press conference, President Obama repeated his call for changes in Social Security and Medicare. His 2014 budget included cuts to benefits for both. That aligns him with House Speaker John Boehner, who called for savings in Social Security and Medicare during the shutdown battle.

Senators from both parties have shown their willingness to support benefit cuts as part of a big budget deal.

The purpose of a government is to improve the lives of its people. How does unnecessarily cutting benefits improve the lives of Americans?

Progressives must rely on more than saying “hands off Social Security and Medicare,” although that should remain central to our message. We need a strong offense, to go with that potent defense.

Here are two simple, popular, powerful proposals. On Social Security, make the richest 5 percent of people pay into Social Security on all their earnings, just like 95 percent of workers now do. Use the new revenue to both boost Social Security benefits – which are too low – and extend the solvency of the Social Security Trust fund.

On Medicare, slash the cost of prescription drug prices just like the Veterans Administration and all our global competitors do, saving hundreds of billions of dollars in the next decade.

The U.S. federal government is not like you and me. Being Monetarily Sovereign, the federal government never can run short of dollars.

Even if federal taxes were reduced to $0, the government easily would be able to pay all its bills. That is the fundamental difference between Monetary Sovereignty and monetary non-sovereignty.

This means:
1. Additional tax revenues are not needed to support Social Security
2. Cutting prescription drug prices does not benefit the government, and in fact, reduces the economically stimulative effect of federal payments for drugs.

The Social Security proposal has been introduced in both houses of Congress, which would boost benefits in two ways: changing the way benefits are calculated (designed to particularly help low- and moderate-income seniors) and changing the inflation adjuster Social Security uses to the CPI-E, which more accurately captures what seniors pay.

This is exactly the opposite of the chained CPI proposed by President Obama, which under-counts what seniors typically purchase.

President Obama has been bribed by the rich (via campaign contributions and promises of lucrative employment later – plus that Obama Presidential Library) to widen the gap between the rich and the rest. He rewarded Penny Pritzker, and she will reward him. (Call it “the Bill Clinton, get rich after leaving office syndrome.”)

The legislation raises the money to pay for the benefits and extends the Trust Fund by gradually removing the cap on earnings taxed by Social Security, which is $113,700 in 2013. Doing so would extend the period during which the Trust Fund has enough money to pay all benefits from 2033 to 2049.

By using the phrase, “Raises the money to pay for,” the author demonstrates ignorance about the difference between Monetary Sovereignty and monetary non-sovereignty. A Monetarily Sovereign government does not need to “raise money to pay for” anything. It creates money ad hoc.

Progressives have long talked about Medicare using its enormous purchasing power to get the same kind of low drug prices paid by the Veterans Administration or every other country on the globe.

There are two bills in Congress that aim to do this. While neither is designed to get the maximum savings – a combination of the approaches taken in each is needed – either would work to make the point that we can strengthen Medicare by stopping the drug companies from ripping off the country.

Again, a demonstration of ignorance about the difference between Monetary Sovereignty and monetary non-sovereignty. Paying drug companies stimulates the U.S. and world economies.

Instead of making painful cuts to Social Security and Medicare, we can boost benefits for seniors and make sure that the programs are there for the long term by having millionaires pay into Social Security like everyone else and stopping drug companies from ripping off Americans.

Or far better yet, have the federal government pay for Social Security and for Medicare, while collecting no FICA at all.

The politicians and most economists have been bribed to remain ignorant (call it “the Sgt. Schultz syndrome”). But and all it takes is for liberals to understand, and a few brave economists to state, the differences between Monetary Sovereignty and monetary non-sovereignty.

Is that so hard?

[Richard Kirsch is a Senior Fellow at the Roosevelt Institute, a Senior Adviser to USAction, and the author of Fighting for Our Health. He was National Campaign Manager of Health Care for America Now during the legislative battle to pass reform. The Roosevelt Institute is a non-profit organization devoted to carrying forward the legacy and values of Franklin and Eleanor Roosevelt.]

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

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

#MONETARY SOVEREIGNTY

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

What is killing Americans?

Apparently, Americans believe guns don’t kill people. Apparently, Americans also believe obesity doesn’t kill people. And as for recreational drugs? Apparently, they don’t kill Americans, either.

What about our terrible health care? As Obamacare (nee Romneycare, nee Heritagecare) proves to be an implementation nightmare, I continue to wonder why we don’t have a fully-paid, full-coverage Medicare for every man, woman and child in America.

Why is much-loved Medicare, a program the government knows how to run — a program that is proven to work — limited to the elderly? And why does even Medicare limit its coverages?

I could afford to pay for health insurance, yet I receive Medicare. Millions of Americans who cannot afford health insurance do not receive Medicare. Does this make any sense for the world’s wealthiest nation?

Millions of working Americans are forced to stay with unpleasant, low-paying jobs, because to quit not only would cost them income, but cost them health insurance. Does this make any sense?

Recently, this blog published How one of the best bills in history — H.R. 676, Medicare for All — is spoiled. What spoiled this “Medicare for All” bill?

The answer to all of the above questions is the same:

*The mistaken belief that federal financing is the same as personal financing.
*The mistaken belief that the federal debt is a burden on the federal government.
*The mistaken belief that paying off the federal debt would cause inflation.
*The mistaken belief that taxes pay for federal spending.
*The mistaken belief that taxpayers and taxpayers’ children owe the federal debt and some day will have to pay it.

And so sadly, our nation suffers from self-inflicted wounds, unnecessary wounds, disgraceful wounds, choreographed by the rich to widen the gap between them and the rest.

Sadder still is the victims’ reluctance to accept or even learn the truth. When you try to explain Monetary Sovereignty, you are met not just with disbelief, but with anger.

It’s as though you offered your hand to a drowning man, and he looked up at you and said, “F*ck you,” then kept drowning.

Americans are not dying just from guns or obesity or drugs or lack of medical care.

We are dying from stubborn ignorance, the conceit that makes us believe we are too special to learn, and to despise anyone who tries to change our brainwashed beliefs.

History shows what happens to such hubris.

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

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

#MONETARY SOVEREIGNTY

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

First let me admit my own bigotry. I despise the National Rifle Association (NRA). I believe this group has been responsible for more American deaths than has Al-Qaeda.

No need to argue with me. I could quote facts, and gun lovers could quote their facts. But, there are certain things beyond rational argument: religion, abortion and guns, to name three.

In previous posts I suggested what I thought was a possible solution to gun violence:

Is gun control possible? (Friday, May 21 2010) and The constitutional solution to gun violence, that scares the hell out of the NRA (Wednesday, Sep 18 2013)

The solution given in these posts was: “Make each manufacturer, seller or provider of a gun liable for the use of that gun.” Several logical reasons were given for this corollary to the “dram-shop” ordinances used to address alcohol misuse.

But for those who twist the meaning of “well-regulated militia,” or who believe the NRA slogan, “Guns don’t kill people; people kill people,” what chance would logical argument have?

That said, here is another familiar quote from the NRA’s executive vice president, Wayne LaPierre “The only thing that stops a bad guy with a gun is a good guy with a gun.” Within this quote may lie a solution to a problem.

What LaPierre seems to be telling us is:

1. Bad guys, carrying guns, need to be stopped.
2. The only way to stop them is with a gun held by a good guy.

How does a good guy with a gun stop a bad guy, who also is carrying a gun? By shooting the bad guy, before he can shoot any good guys.

Given that solution, we are left with one simple problem. How do we identify the good guys and the bad guys?

To date, gun control advocates have focused on background checks, which the NRA sees as a secret plot to take guns away, or to give the government a list of gun owners, for some devious purpose.

So how do we “stop” bad guys with guns, if we don’t know who they are?

There really is only one way to identify bad guys and to prevent these bad guys from obtaining guns and from shooting people: Convince the bad guys to self-select. We have to convince them that shooting someone or even carrying a gun, would be a bad idea.

Here, in common English, is the bare bones of a suggested law. (I’m sure the politicians could translate it into appropriate legalese):

Any person who commits a felony while carrying a gun, shall be sentenced to a prison term of 20 years to life, in addition to the term for the felony itself.

Example: You rob a store, while you are carrying a gun. The judge sentences you to two years in jail. Ordinarily, you’d be out of jail in about 18 months.

But with the above law in force, you’d serve at least 22 years (“20-years-to-life” means a minimum of 20 years).

Too harsh? Not at all. Wayne LaPierre wants to shoot those bad guys. This law mercifully only jails them.

Good guys should welcome this law. It says nothing about taking away your guns. It allows you to stockpile all the guns you want — pistols, rifles, shotguns, AK47s — whatever feels good to you.

The only ones punished are the bad guys — the felons. And although the law doesn’t require shooting them, it will keep them off the streets and even make them think twice before carrying guns.

In the mean streets of many cities, it’s become a badge of honor, not at all a deterrent, for a gangbanger to spend a couple years in jail, get his tattoos, then come out and start shooting again.

But 20+ years? That’s a whole different ballgame.

LaPierre might object that the proposed law doesn’t ask good guys to shoot bad guys — just jail them. But I think he’ll like the rest of the law

1. It identifies the bad guys, without good guys having to undergo background checks.
2. Good guys can keep their guns.
3. Bad guys are “stopped,” without the need for good guys to start a dangerous shootout, in which innocent good guys could be killed.
4. The long jail sentence could dissuade bad guys from carrying guns.

It’s a solution that accomplishes everything Wayne LaPierre and the NRA wants, and nothing they don’t want. It evolved directly from LaPierre’s own words.

The man is a genius.

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

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

#MONETARY SOVEREIGNTY