How did the Clinton Foundation get to be a stigma?

What do you know about the Clinton Foundation?

No, I mean really. Think about it for a moment. What do you know about the Clinton Foundation?

And what is your attitude about the Clinton Foundation?

I ask, because of a short Email I received from Bloomberg Politics. Here are some excerpts:

With 76 days until election day, Hillary Clinton’s not-so-great week of e-mail-cum-Clinton Foundation woes marches on.

“E-mail – cum- Clinton Foundation woes”? What exactly are the “woes” for a foundation that gives to charity?

Donald Trump’s campaign is now going on offense after a new report found that more than half of the people outside the government who met with the former Secretary of State during her tenure gave money to the Foundation.

Let’s parse that sentence: We’re not talking about everyone Clinton has met.

We’re not even talking about everyone she met while she was Secretary of State.

And we’re not even talking about everyone she met while Secretary of State, who were not government employees.

We only are talking about half of non-government people who met her during the 4-year period, 2009-2013 — a relatively small number.

And what exactly is the complaint about those people? That they gave Mrs. Clinton money? No, that might be illegal, depending on circumstance.

That they gave Mrs. Clinton campaign contributions? No, would be perfectly legal in most cases.

The complaint seems to be, so far as I can tell, that these people gave to a charity started by Bill Clinton — not to Bill, not to Hillary, but to a charity.

While this type of access-granting is not necessarily illegal or out of the norm in political circles (and while the Clinton campaign is saying the report is based on flawed data), the story adds another pang to the doubts already plaguing the Clinton campaign.

No, it’s not at all illegal, and yes, it is the norm. And, if it’s not illegal, or even out of the norm, why does giving money to a charity that does not benefit the Clintons, add a “pang to doubts” plaguing the Clinton campaign?

Because Donald Trump said so.

Remind me: Isn’t Trump the guy who lied that President Obama is not a citizen? Isn’t Donald Trump the guy who is waiting to be civilly and criminally prosecuted for the Trump University scam that lined his pockets at the expense of innocent students.

And isn’t there a bit of irony to Trump’s criticism of a charitable foundation? (Trump promised millions to charity. We found less than $10,000 over 7 years.

Will Clinton’s lead in the polls and Trump’s disastrous August overshadow her transparency issues?

Or is it time for her to change her approach—and also maybe just shut the Foundation down?

Now that would be the real disgrace: Shut down a charity in an effort to get elected. This is what Bloomberg suggests? Yikes!

The claim (unproven, but so what?) is that Clinton gave introductions in return for contributions to the Foundation. She denies it.

But let’s say, worst-case, the accusations are true. Would the conversations have gone something like this:

“If you give a million dollars to my charitable foundation, I’ll arrange for you to meet Senator Jones.”
“O.K., Mrs. Clinton, I’ll give a million dollars to the Foundation.”

Is that pretty much what the worst-case scenario sounds like?

Maybe I’m naive. I don’t understand why it’s perfectly O.K. for people to give millions of dollars to Pacs and to candidates election committees, but not O.K. to give to a candidate’s charitymoney that does not go to the candidate herself.

Does anyone out there really believe rich donors like Mr. Bloomberg, give out campaign contributions, while expecting nothing in return, not even an introduction or a lunch meeting?

I have a long-time friend, who donated a lot of money to Obama’s campaign. My friend had dinner with Obama.  Ooooh . . . Is this a scandal?

And we’re not even talking about campaign contributions. We’re talking about charity. 

If someone came to me and said, “I’ll give a million dollars for cancer research, if you get me a meeting with Vice President Biden”, I’d do my darndest to make it happen.

And if I succeeded, I’d feel I’d done a good thing for the world.

But, Bloomberg wants Clinton to shut down a charity, a charity that is doing good for the world, just so she can get elected. I guess that is what passes for morality, today.

And Donald Trump, who lies about his meager charitable giving, criticizes the Clinton Foundation, and the media buy into the nonsense.

The world has turned upside down.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
Ten Steps to Prosperity:
1. ELIMINATE FICA (Ten Reasons to Eliminate FICA )
Although the article lists 10 reasons to eliminate FICA, there are two fundamental reasons:
*FICA is the most regressive tax in American history, widening the Gap by punishing the low and middle-income groups, while leaving the rich untouched, and
*The federal government, being Monetarily Sovereign, neither needs nor uses FICA to support Social Security and Medicare.
2. FEDERALLY FUNDED MEDICARE — PARTS A, B & D, PLUS LONG TERM CARE — FOR EVERYONE (H.R. 676, Medicare for All )
This article addresses the questions:
*Does the economy benefit when the rich afford better health care than the rest of Americans?
*Aside from improved health care, what are the other economic effects of “Medicare for everyone?”
*How much would it cost taxpayers?
*Who opposes it?”
3. PROVIDE AN ECONOMIC BONUS TO EVERY MAN, WOMAN AND CHILD IN AMERICA, AND/OR EVERY STATE, A PER CAPITA ECONOMIC BONUS (The JG (Jobs Guarantee) vs the GI (Guaranteed Income) vs the EB) Or institute a reverse income tax.
This article is the fifth in a series about direct financial assistance to Americans:

Why Modern Monetary Theory’s Employer of Last Resort is a bad idea. Sunday, Jan 1 2012
MMT’s Job Guarantee (JG) — “Another crazy, rightwing, Austrian nutjob?” Thursday, Jan 12 2012
Why Modern Monetary Theory’s Jobs Guarantee is like the EU’s euro: A beloved solution to the wrong problem. Tuesday, May 29 2012
“You can’t fire me. I’m on JG” Saturday, Jun 2 2012

Economic growth should include the “bottom” 99.9%, not just the .1%, the only question being, how best to accomplish that. Modern Monetary Theory (MMT) favors giving everyone a job. Monetary Sovereignty (MS) favors giving everyone money. The five articles describe the pros and cons of each approach.
4. FREE EDUCATION (INCLUDING POST-GRAD) FOR EVERYONEFive reasons why we should eliminate school loans
Monetarily non-sovereign State and local governments, despite their limited finances, support grades K-12. That level of education may have been sufficient for a largely agrarian economy, but not for our currently more technical economy that demands greater numbers of highly educated workers.
Because state and local funding is so limited, grades K-12 receive short shrift, especially those schools whose populations come from the lowest economic groups. And college is too costly for most families.
An educated populace benefits a nation, and benefiting the nation is the purpose of the federal government, which has the unlimited ability to pay for K-16 and beyond.
5. SALARY FOR ATTENDING SCHOOL
Even were schooling to be completely free, many young people cannot attend, because they and their families cannot afford to support non-workers. In a foundering boat, everyone needs to bail, and no one can take time off for study.
If a young person’s “job” is to learn and be productive, he/she should be paid to do that job, especially since that job is one of America’s most important.
6. ELIMINATE CORPORATE TAXES
Corporations themselves exist only as legalities. They don’t pay taxes or pay for anything else. They are dollar-tranferring machines. They transfer dollars from customers to employees, suppliers, shareholders and the government (the later having no use for those dollars).
Any tax on corporations reduces the amount going to employees, suppliers and shareholders, which diminishes the economy. Ultimately, all corporate taxes come around and reappear as deductions from your personal income.
7. INCREASE THE STANDARD INCOME TAX DEDUCTION, ANNUALLY. (Refer to this.) Federal taxes punish taxpayers and harm the economy. The federal government has no need for those punishing and harmful tax dollars. There are several ways to reduce taxes, and we should evaluate and choose the most progressive approaches.
Cutting FICA and corporate taxes would be an good early step, as both dramatically affect the 99%. Annual increases in the standard income tax deduction, and a reverse income tax also would provide benefits from the bottom up. Both would narrow the Gap.
8. TAX THE VERY RICH (THE “.1%) MORE, WITH HIGHER PROGRESSIVE TAX RATES ON ALL FORMS OF INCOME. (TROPHIC CASCADE)
There was a time when I argued against increasing anyone’s federal taxes. After all, the federal government has no need for tax dollars, and all taxes reduce Gross Domestic Product, thereby negatively affecting the entire economy, including the 99.9%.
But I have come to realize that narrowing the Gap requires trimming the top. It simply would not be possible to provide the 99.9% with enough benefits to narrow the Gap in any meaningful way. Bill Gates reportedly owns $70 billion. To get to that level, he must have been earning $10 billion a year. Pick any acceptable Gap (1000 to 1?), and the lowest paid American would have to receive $10 million a year. Unreasonable.
9. FEDERAL OWNERSHIP OF ALL BANKS (Click The end of private banking and How should America decide “who-gets-money”?)
Banks have created all the dollars that exist. Even dollars created at the direction of the federal government, actually come into being when banks increase the numbers in checking accounts. This gives the banks enormous financial power, and as we all know, power corrupts — especially when multiplied by a profit motive.
Although the federal government also is powerful and corrupted, it does not suffer from a profit motive, the world’s most corrupting influence.
10. INCREASE FEDERAL SPENDING ON THE MYRIAD INITIATIVES THAT BENEFIT AMERICA’S 99.9% (Federal agencies)Browse the agencies. See how many agencies benefit the lower- and middle-income/wealth/ power groups, by adding dollars to the economy and/or by actions more beneficial to the 99.9% than to the .1%.
Save this reference as your primer to current economics. Sadly, much of the material is not being taught in American schools, which is all the more reason for you to use it.

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

MONETARY SOVEREIGNTY

Joe Stiglitz has a solution for the euro

Joseph Stiglitz has a solution for the euro. You can read it at:

A NOBEL-WINNING ECONOMIST HAS A PLAN TO SAVE EUROPE

Does it involve saving the euro, too?
BY JOSEPH E. STIGLITZ, AUGUST 8, 2016

It is a pretty good article, because it says much the same thing I’ve been saying for 15 years. (That’s my criterion for “good.”)

But it comes to a rather strange conclusion, which I’ll discuss.

Here are some excerpts from Stiglitz’s article:

The world has been bombarded with depressing news from Europe. Greece is in a depression, with half of its youth unemployed.

The extreme right has made large gains in France.

In Catalonia, the region surrounding Barcelona, a majority of those elected to the regional parliament support independence from Spain.

Large parts of Europe face a lost decade, with G.D.P. per capita lower than it was before the global financial crisis.

Even what Europe celebrates as a success signifies a failure: Spain’s unemployment rate has fallen from 26 percent, in 2013, to 20 percent at the beginning of 2016.

But nearly one out of two young people remain unemployed, and the unemployment rate would be even higher if so many of its most talented young workers had not left the country to look for jobs elsewhere.

As I said in a speech at the University of Missouri, Kansas City, way back in 2005, “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.

There is a simple answer to this apparent puzzle: a fatal decision, in 1992, to adopt a single currency without providing for the institutions that would make it work. Good currency arrangements cannot ensure prosperity, but flawed currency arrangements can lead to recessions and depressions.

And among the kinds of currency arrangements that have long been associated with recessions and depressions are currency pegs, where the value of one country’s currency is fixed relative to another or relative to a commodity.

America’s depression at the end of the 19th century was linked to the gold standard, where every country pegged its currency’s value to gold and, therefore, implicitly to one another’s currencies.

The gold standard is widely blamed for its role in deepening and prolonging the Great Depression. Those countries that abandoned the gold standard early recovered more quickly.

In spite of this history, Europe decided to tie itself together with a single currency—creating within Europe the same kind of rigidity that the gold standard had inflicted on the world.

The gold standard failed, and, other than a few blinkered diehards known as “gold bugs,” no one wants to see it restored.

Correct. Gold standards benefit only those who make a living buying and selling gold (See: The Daily Bell and Comment #1, below).

For nations, gold standards are disasters, quickly abandoned as soon as recession looms (at just the time when gold standards supposedly create stability).

The eurozone was flawed at birth. A single currency entails a fixed exchange rate among the member countries as well as a single interest rate.

And therein lies the problem. Each nation has a unique set of economic problems.

Yet each nation is constrained from solving their unique problems by the requirement to do what every other nation does — or more accurately, what the EU wants done.

A small country in Europe could, for instance, be in a recession when the rest of Europe is doing well.

If there were a eurozone institution that lent it money at low interest rates so it could finance investment projects, it would stimulate the economy now, even as it provided the foundations for future growth.

This borrowing might help in the short term, but that “small country” would still be in debt to the eurozone institution, with no means to create the euros to pay the debt — which is exactly what has been happening since 2008.

With strong constraints on deficit spending, the individual countries were given insufficient flexibility in the conduct of their fiscal policy—their ability to tax and spend—to enable a country facing adverse circumstances to avoid a deep recession.

Correct. The constraint on deficit spending, aka “austerity,” is perhaps the worst economic idea ever advanced.  It is a guarantee of recession — though made necessary for the euro nations by their inability to create euros.

Worse still, the structure of the eurozone built in certain ideas about what was required for economic success—for instance, that the central bank should focus on inflation, as opposed to the mandate of the Federal Reserve, in the United States, which incorporates unemployment, growth, and stability as well.

Wrong. The mission of the central bank in the eurozone should be substantially different from the mission of the U.S. Federal Reserve Bank.

In the eurozone, the EU controls both the Supply and the Demand for euros.

In the U.S., Congress creates many dollars by deficit spending. The primary economic function of the Fed should be to control the Demand for dollars, while Congress controls the Supply.

Where the U.S. gets in economic trouble is when Congress relies on the Fed to control the Supply of dollars, as well as the Demand.  The Fed easily controls Demand with interest rate control, but has no real tools to control Supply. (Quantitative Easing is a phony tool, made to look like the Fed is “doing something”)

Then, as a last resort to get us out of recessions it caused, Congress does what it should have been doing all along: Deficit spend to add to the Supply of dollars.

Even granting the zone’s flawed structure, there were choices to be made. Europe made the wrong ones. It imposed austerity—excessive cutbacks in government expenditures.

While austerity is imposed on the euro nations, no such limitation exists for the EU itself. It can create all the euros it needs, any time it needs them.

Thus the wealthy EU bankers are kings, doling out alms to the begging and powerless peasant euro nations.

There is a way forward: adopting a “flexible euro.”

The flexible euro would create a system in which different countries (or groups of countries) could each have their own euro.

The value of the different euros would fluctuate, but within bounds that the policies of the eurozone itself would affect.

Over time, perhaps, with the evolution of sufficient solidarity, those bounds could be reduced, and eventually, the goal of a single currency set forth in the Maastricht Treaty of 1992 would be achieved.

But this time, with the requisite institutions in place, the single currency might actually achieve its goals of promoting prosperity, European solidarity, and political integration.

I won’t go into technical detail here about how a flexible euro would work in practice.

This is where it gets funky.

I don’t blame Stiglitz for not wanting to “go into technical detail.” It would be quite technical, and not just a detail.

He seemingly doesn’t realize that his “flexible euro” is a return to individual, national Monetary Sovereignty, with each nation controlling its own currency — just the way it always had been before the ill-fated euro experiment.

The dream of the euro — financial merger without political merger — has been an easily predictable nightmare. There simply cannot be successful financial merger without political merger.

The founders of the United States of America were wise enough to realize that.

The individual states (actually small nations, similar to Europe), voluntarily surrendered not only their own currencies, but also agreed on a common government.

And this government pumps billions — trillions — of deficit dollars into the common economy.  Most states, being monetarily non-sovereign, run a surplus vs. the federal government, a surplus that is infinitely affordable for the feds.

Only when the anti-deficit ignorant (Hello Tea Party) take control, do we enter a euro-like recession, from which we recover only with massive doses of deficit spending.

The euro can survive as a common currency if the EU drops its austerity foolishness, and begins to pump “deficit” money into the eurozone economy. 

And this will happen if the individual nations have a strong voice in their common economy — something akin to a United States of Europe — but without the burden of deficit hawks like the “Committee for a Responsible Federal Budget” et al.

At long last, the eurozone must learn: The belief that Monetarily Sovereign entities should not run deficits, is harmful, inane, and has caused every depression and most recessions in modern history.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
Ten Steps to Prosperity:
1. ELIMINATE FICA (Ten Reasons to Eliminate FICA )
Although the article lists 10 reasons to eliminate FICA, there are two fundamental reasons:
*FICA is the most regressive tax in American history, widening the Gap by punishing the low and middle-income groups, while leaving the rich untouched, and
*The federal government, being Monetarily Sovereign, neither needs nor uses FICA to support Social Security and Medicare.
2. FEDERALLY FUNDED MEDICARE — PARTS A, B & D, PLUS LONG TERM CARE — FOR EVERYONE (H.R. 676, Medicare for All )
This article addresses the questions:
*Does the economy benefit when the rich afford better health care than the rest of Americans?
*Aside from improved health care, what are the other economic effects of “Medicare for everyone?”
*How much would it cost taxpayers?
*Who opposes it?”
3. PROVIDE AN ECONOMIC BONUS TO EVERY MAN, WOMAN AND CHILD IN AMERICA, AND/OR EVERY STATE, A PER CAPITA ECONOMIC BONUS (The JG (Jobs Guarantee) vs the GI (Guaranteed Income) vs the EB) Or institute a reverse income tax.
This article is the fifth in a series about direct financial assistance to Americans:

Why Modern Monetary Theory’s Employer of Last Resort is a bad idea. Sunday, Jan 1 2012
MMT’s Job Guarantee (JG) — “Another crazy, rightwing, Austrian nutjob?” Thursday, Jan 12 2012
Why Modern Monetary Theory’s Jobs Guarantee is like the EU’s euro: A beloved solution to the wrong problem. Tuesday, May 29 2012
“You can’t fire me. I’m on JG” Saturday, Jun 2 2012

Economic growth should include the “bottom” 99.9%, not just the .1%, the only question being, how best to accomplish that. Modern Monetary Theory (MMT) favors giving everyone a job. Monetary Sovereignty (MS) favors giving everyone money. The five articles describe the pros and cons of each approach.
4. FREE EDUCATION (INCLUDING POST-GRAD) FOR EVERYONEFive reasons why we should eliminate school loans
Monetarily non-sovereign State and local governments, despite their limited finances, support grades K-12. That level of education may have been sufficient for a largely agrarian economy, but not for our currently more technical economy that demands greater numbers of highly educated workers.
Because state and local funding is so limited, grades K-12 receive short shrift, especially those schools whose populations come from the lowest economic groups. And college is too costly for most families.
An educated populace benefits a nation, and benefiting the nation is the purpose of the federal government, which has the unlimited ability to pay for K-16 and beyond.
5. SALARY FOR ATTENDING SCHOOL
Even were schooling to be completely free, many young people cannot attend, because they and their families cannot afford to support non-workers. In a foundering boat, everyone needs to bail, and no one can take time off for study.
If a young person’s “job” is to learn and be productive, he/she should be paid to do that job, especially since that job is one of America’s most important.
6. ELIMINATE CORPORATE TAXES
Corporations themselves exist only as legalities. They don’t pay taxes or pay for anything else. They are dollar-tranferring machines. They transfer dollars from customers to employees, suppliers, shareholders and the government (the later having no use for those dollars).
Any tax on corporations reduces the amount going to employees, suppliers and shareholders, which diminishes the economy. Ultimately, all corporate taxes come around and reappear as deductions from your personal income.
7. INCREASE THE STANDARD INCOME TAX DEDUCTION, ANNUALLY. (Refer to this.) Federal taxes punish taxpayers and harm the economy. The federal government has no need for those punishing and harmful tax dollars. There are several ways to reduce taxes, and we should evaluate and choose the most progressive approaches.
Cutting FICA and corporate taxes would be an good early step, as both dramatically affect the 99%. Annual increases in the standard income tax deduction, and a reverse income tax also would provide benefits from the bottom up. Both would narrow the Gap.
8. TAX THE VERY RICH (THE “.1%) MORE, WITH HIGHER PROGRESSIVE TAX RATES ON ALL FORMS OF INCOME. (TROPHIC CASCADE)
There was a time when I argued against increasing anyone’s federal taxes. After all, the federal government has no need for tax dollars, and all taxes reduce Gross Domestic Product, thereby negatively affecting the entire economy, including the 99.9%.
But I have come to realize that narrowing the Gap requires trimming the top. It simply would not be possible to provide the 99.9% with enough benefits to narrow the Gap in any meaningful way. Bill Gates reportedly owns $70 billion. To get to that level, he must have been earning $10 billion a year. Pick any acceptable Gap (1000 to 1?), and the lowest paid American would have to receive $10 million a year. Unreasonable.
9. FEDERAL OWNERSHIP OF ALL BANKS (Click The end of private banking and How should America decide “who-gets-money”?)
Banks have created all the dollars that exist. Even dollars created at the direction of the federal government, actually come into being when banks increase the numbers in checking accounts. This gives the banks enormous financial power, and as we all know, power corrupts — especially when multiplied by a profit motive.
Although the federal government also is powerful and corrupted, it does not suffer from a profit motive, the world’s most corrupting influence.
10. INCREASE FEDERAL SPENDING ON THE MYRIAD INITIATIVES THAT BENEFIT AMERICA’S 99.9% (Federal agencies)Browse the agencies. See how many agencies benefit the lower- and middle-income/wealth/ power groups, by adding dollars to the economy and/or by actions more beneficial to the 99.9% than to the .1%.
Save this reference as your primer to current economics. Sadly, much of the material is not being taught in American schools, which is all the more reason for you to use it.

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

MONETARY SOVEREIGNTY

Bigots of a feather flock together

In a major shakeup, The Wall Street Journal reports that Donald Trump has hired Stephen Bannon, executive chairman of Breitbart News, as chief executive of his campaign.

Here are some examples of what passed for journalism under Stephen Bannon’s leadership:

Bill Kristol: Republican Spoiler, Renegade Jew

Yes, Bannon describes Mr. Kristol as a “renegade Jew.”

Nice.

And then there have been these #DeportAllMuslims tweets from Katie McHugh:

Katie McHugh ‏@k_mcq Jul 14
#PrayForNice that they have the will and the courage to #DeportAllMuslims after the

Katie McHugh ‏@k_mcq Jul 14
Enough of the hatred, intolerance, violent rhetoric. It’s time to #DeportAllMuslims from Western nations.

Who is Katie McHugh? She is the Homepage Editor at Breitbart News Network

For her, merely banning all Muslims from America  isn’t sufficient.  She wants to round them up and deport them all — citizens, non-citizens, it doesn’t matter.  

The U.S. Constitution doesn’t matter, either, apparently. Just drag people from their homes and ship them out, on the basis of their religion.

Does that sound familiar?

Katie McHugh is an equal-opportunity, hate-filled bigot.  It’s not just Muslims. Here is a small selection of her tweets, as reported by Patheos:

“Indian tribes never bothered to build any kind of civilization. They killed each other and chased bison. Yawn”

“Mexicans wrecked Mexico & think invading the USA will magically cure them them of their retarded dysfunction. LOL”

“British settlers built the USA. “Slaves” built the country much as cows “built” McDonald’s. Amateur…”

“Funny how Europeans assimilated, unlike Third Worlders demanding welfare while raping, killing Americans.”

“Consume welfare in whatever garbage country you come from, sweetie.”

And here she is, Katie McHugh,

She is just a child really, if her picture is any indication.  Where has innocence gone.?

Where did she learn all that hatred? From her friends? From her parents? From Stephen Bannon, who as executive chairman of Breitbart News, surely approved and encouraged what she wrote?

And now Stephen Bannon, the man who paid a young girl to ruin her reputation and to descend with him into the filth of hatred and bigotry — that man now will be chief executive of Donald Trump’s campaign.

It is a marriage made in hell.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
Ten Steps to Prosperity:
1. ELIMINATE FICA (Ten Reasons to Eliminate FICA )
Although the article lists 10 reasons to eliminate FICA, there are two fundamental reasons:
*FICA is the most regressive tax in American history, widening the Gap by punishing the low and middle-income groups, while leaving the rich untouched, and
*The federal government, being Monetarily Sovereign, neither needs nor uses FICA to support Social Security and Medicare.
2. FEDERALLY FUNDED MEDICARE — PARTS A, B & D, PLUS LONG TERM CARE — FOR EVERYONE (H.R. 676, Medicare for All )
This article addresses the questions:
*Does the economy benefit when the rich afford better health care than the rest of Americans?
*Aside from improved health care, what are the other economic effects of “Medicare for everyone?”
*How much would it cost taxpayers?
*Who opposes it?”
3. PROVIDE AN ECONOMIC BONUS TO EVERY MAN, WOMAN AND CHILD IN AMERICA, AND/OR EVERY STATE, A PER CAPITA ECONOMIC BONUS (The JG (Jobs Guarantee) vs the GI (Guaranteed Income) vs the EB) Or institute a reverse income tax.
This article is the fifth in a series about direct financial assistance to Americans:

Why Modern Monetary Theory’s Employer of Last Resort is a bad idea. Sunday, Jan 1 2012
MMT’s Job Guarantee (JG) — “Another crazy, rightwing, Austrian nutjob?” Thursday, Jan 12 2012
Why Modern Monetary Theory’s Jobs Guarantee is like the EU’s euro: A beloved solution to the wrong problem. Tuesday, May 29 2012
“You can’t fire me. I’m on JG” Saturday, Jun 2 2012

Economic growth should include the “bottom” 99.9%, not just the .1%, the only question being, how best to accomplish that. Modern Monetary Theory (MMT) favors giving everyone a job. Monetary Sovereignty (MS) favors giving everyone money. The five articles describe the pros and cons of each approach.
4. FREE EDUCATION (INCLUDING POST-GRAD) FOR EVERYONEFive reasons why we should eliminate school loans
Monetarily non-sovereign State and local governments, despite their limited finances, support grades K-12. That level of education may have been sufficient for a largely agrarian economy, but not for our currently more technical economy that demands greater numbers of highly educated workers.
Because state and local funding is so limited, grades K-12 receive short shrift, especially those schools whose populations come from the lowest economic groups. And college is too costly for most families.
An educated populace benefits a nation, and benefiting the nation is the purpose of the federal government, which has the unlimited ability to pay for K-16 and beyond.
5. SALARY FOR ATTENDING SCHOOL
Even were schooling to be completely free, many young people cannot attend, because they and their families cannot afford to support non-workers. In a foundering boat, everyone needs to bail, and no one can take time off for study.
If a young person’s “job” is to learn and be productive, he/she should be paid to do that job, especially since that job is one of America’s most important.
6. ELIMINATE CORPORATE TAXES
Corporations themselves exist only as legalities. They don’t pay taxes or pay for anything else. They are dollar-tranferring machines. They transfer dollars from customers to employees, suppliers, shareholders and the government (the later having no use for those dollars).
Any tax on corporations reduces the amount going to employees, suppliers and shareholders, which diminishes the economy. Ultimately, all corporate taxes come around and reappear as deductions from your personal income.
7. INCREASE THE STANDARD INCOME TAX DEDUCTION, ANNUALLY. (Refer to this.) Federal taxes punish taxpayers and harm the economy. The federal government has no need for those punishing and harmful tax dollars. There are several ways to reduce taxes, and we should evaluate and choose the most progressive approaches.
Cutting FICA and corporate taxes would be an good early step, as both dramatically affect the 99%. Annual increases in the standard income tax deduction, and a reverse income tax also would provide benefits from the bottom up. Both would narrow the Gap.
8. TAX THE VERY RICH (THE “.1%) MORE, WITH HIGHER PROGRESSIVE TAX RATES ON ALL FORMS OF INCOME. (TROPHIC CASCADE)
There was a time when I argued against increasing anyone’s federal taxes. After all, the federal government has no need for tax dollars, and all taxes reduce Gross Domestic Product, thereby negatively affecting the entire economy, including the 99.9%.
But I have come to realize that narrowing the Gap requires trimming the top. It simply would not be possible to provide the 99.9% with enough benefits to narrow the Gap in any meaningful way. Bill Gates reportedly owns $70 billion. To get to that level, he must have been earning $10 billion a year. Pick any acceptable Gap (1000 to 1?), and the lowest paid American would have to receive $10 million a year. Unreasonable.
9. FEDERAL OWNERSHIP OF ALL BANKS (Click The end of private banking and How should America decide “who-gets-money”?)
Banks have created all the dollars that exist. Even dollars created at the direction of the federal government, actually come into being when banks increase the numbers in checking accounts. This gives the banks enormous financial power, and as we all know, power corrupts — especially when multiplied by a profit motive.
Although the federal government also is powerful and corrupted, it does not suffer from a profit motive, the world’s most corrupting influence.
10. INCREASE FEDERAL SPENDING ON THE MYRIAD INITIATIVES THAT BENEFIT AMERICA’S 99.9% (Federal agencies)Browse the agencies. See how many agencies benefit the lower- and middle-income/wealth/ power groups, by adding dollars to the economy and/or by actions more beneficial to the 99.9% than to the .1%.
Save this reference as your primer to current economics. Sadly, much of the material is not being taught in American schools, which is all the more reason for you to use it.

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

MONETARY SOVEREIGNTY

A hilarious and sad letter

It’s serious business, the question of who will be President of the United States, arguably the most powerful human on this planet. But sometimes, one only can laugh at what a desperate candidate will say or do.

And perhaps, today is the day for laughter. Here, belatedly, is a copy of a letter released by Donald Trump’s doctor.

It is a laught riot — and sad:

As you can see, the letter from the learned doctor begins, to whom my concern, a fittingly humorous beginning.

Here are some further comments by the New York Times:

Donald Trump Releases Medical Report Calling His Health ‘Extraordinary’”

The letter, gushing in tone and signed by Dr. Harold N. Bornstein of Lenox Hill Hospital in Manhattan, was four paragraphs long and provided few specific laboratory test results.

The letter made a sweeping declaration in a tone oddly similar to how Mr. Trump talks about himself.

Mr. Trump vowed on Twitter to release a “full medical report” about his physical health and fitness to serve as president, which he said would “show perfection.”

His pledge came after a Politico report pointed out his penchant for fatty foods, his lack of routine workouts and, until now, his refusal to release a medical report.

I don’t know about you, but when my doctor provides me with a report, it is three pages long, and filled with all sorts of measurements and chemical shorthands, and it indicates what’s normal and what differs from normal.

He doesn’t send me a strange little note telling me I’m the greatest of all time — but then, I’m not the Donald Trump.

Though Trump promised “a full medical report,” apparently that promise is as good as the one about producing his tax returns.

The email from Mr. Trump that contained the note said it was from his doctor, Jacob. According to an obituary, Jacob Bornstein died in 2010; the note lists Jacob Bornstein as Mr. Trump’s previous physician.

Seemingly, Mr. Trump was in such a hurry to provide proof of his magnificence, he forgot who his doctor was.

Dr. Harold Bornstein said in his letter that he had taken over his father’s practice and had cared for Mr. Trump since 1980. “Over the past 39 years, I am pleased to report that Mr. Trump had no significant medical problems,” giving a duration that suggested he had been caring for him since 1976.

Apparently, this does not cover the period when a bone spur in Mr. Trump’s heel was so serious as to make him unfit for the military — before the spur suddenly and mysteriously disappeared.

A “recent complete medical examination” of Mr. Trump “showed only positive results,” the letter said.

Real doctors do not use the term “only positive results,” simply because many positive results would indicate disease. Would you really want to test positive for syphilis or cancer?

Could it be that Trump dictated the letter? Naw, he wouldn’t be so devious — and obvious —  would he?

It gave few specifics about that examination but contained a number of flamboyant descriptions. For example, Dr. Bornstein said Mr. Trump’s blood pressure, 110/65, and laboratory test results were “astonishingly excellent.”

Presumably, the normal blood pressure reading was without benefit of any medication to lower a higher blood pressure.

“Astonishingly excellent”? Really? That’s doctor talk? My blood pressure is “within normal parameters.” Trump’s is astonishingly excellent.

Mr. Trump has lost “at least 15 pounds” in the past 12 months. But his exact weight before and after the loss was not stated. Reporters who have covered Mr. Trump’s campaign said their impression was that he had gained weight over recent months.

Hmmm . . . If his health is “astonishing excellent,” why did he lose 15 pounds in the past year? That’s astonishingly excellent?

And why does he look so bloated now?

Mr. Trump takes a low-dose aspirin (81 milligrams, or baby aspirin) daily as well as a statin to lower his high cholesterol, the report said.

His test results were “astonishing excellent” and his exam “showed only positive results,” uh, er, except for his high cholesterol and his excess weight — two of the most common cardiac concerns.

Reporters have asked Mr. Trump about his military draft status. He said he had received medical deferments from the Vietnam War because of a bone spur in his foot. When asked about it over the summer, Mr. Trump said he could not recall which foot was afflicted.

He couldn’t remember which foot was so painful it kept him out of the army?? Was this a memory problem or an honesty problem? You choose.

Mr. Trump said: “I am fortunate to have been blessed with great genes — both of my parents had very long and productive lives.” He did not say his father, Fred developed Alzheimer’s disease beginning in his late 80s.

O.K., so maybe it was a memory problem.

The note from Dr. Bornstein praised Mr. Trump’s “physical strength and stamina.” Those are the specific words that Mr. Trump has used to tar Hillary Clinton.

Yet more evidence that Trump forged the doctor’s note.

And then there is this:


DONALD TRUMP TESTS POSITIVE FOR EVERYTHING, ACCORDING TO HIS OWN DOCTOR

BY KURT EICHENWALD

Trump acolytes have not dropped their lying campaign about Clinton’s health, and their argument that people with epilepsy are unfit for political office. They are demanding she produce all of her medical records.

On July 28, 2015, the Clinton campaign released a typical medical letter from an internist, whom she has seen since 2001—Lisa Bardack, director of internal medicine, Mount Sinai Health System at CareMount Medical.

The letter is a typical medical history, and begins with the usual summary of a full physical, calling her a “healthy 67-year-old female.” It lists medical issues and the findings of testing. The tests, it says, were negative, meaning they showed no problems.

(Trump submitted what) purports to be a medical letter, but it is one of the most ridiculous documents ever to emerge in any political campaign.

First, the letterhead is in the same font as the letter, which appears to have been created using Microsoft Word.

The signature from the doctor is several inches past the signature line—the result you might get if the document had been signed as a blank and filled in later.

The letterhead includes a Gmail address—something doctors tell me is extremely unusual, since doctors do not want patients contacting them directly by email as a substitute for scheduling an appointment.

And don’t try going to the website listed (haroldbornsteinmd.com). It’s a fake.  Suprised?

Then, there is the doctor who allegedly signed this document. His name is Harold N. Bornstein, and he is a gastroenterologist.

This kind of physician is a specialist who treats the digestive tract. This is not an internist, who is trained specifically in providing full histories and physicals of patients.

It says results were “extraordinarily excellent.” (Not a medical term.)

It says, “His physical strength and stamina are extraordinary.” (Again, not a medical term.)

Then, in the most hilarious, Trump-esque line of all, it says, “If elected, Mr. Trump, I can state unequivocally, will be the healthiest person ever elected to the presidency.”

In other words, this letter purports to show that a doctor has assessed the health of 43 people he has never examined, including the four who are still alive.

Hmmm . . . He’s not the healthiest person who ever has existed, or ever will exist, on the planet??

There is a genetic component to (Altzheimers, the disease that killed Trump’s father.) Risk increases when a person has a particular type of apolipoprotein E (APOE) gene on the 19th chromosome. The type of APOE gene a person has is testable.

Has Dr. Bornstein, the gastroenterologist, tested for it? If not, why not? Is that why Trump has avoided seeing an internist, since they would conduct such a test?

Such a test might reveal that Trump is unfit for office since dementia, unlike epilepsy, could damage a president’s ability to think coherently.

Type “Trump and Alzheimer’s” into Google and lots of articles and online comments pop up pointing out behaviors of Trump’s that are consistent with Alzheimer’s: meandering speech, poor self-control, not properly responding to questions that are asked, erratic behavior.

See? I can generate conspiracy theories, too. Please understand, I’m not saying Trump has Alzheimer’s. I’m just showing how easy it is to take a few facts and line them up to play the “I’m only asking questions” game.

In summary, Trump’s repeated attempts to con the public are hilarious, except . . .
His faking of his heel spur to get out of the military is hilarious, except . . .
His forged “doctor’s letter” is hilarious, except . . .
His coverup of his own health issues while questioning Clinton’s health is hilarious, except . . .

. . . Except there are millions of misguided Americans, who believe whatever Trump tells them.

You know these people. They are the easy marks who send money to Nigerian princes, buy penny stocks on the phone, let the guy at the door tar their driveway, and desperately want to believe someone they know has perpetrated repeated scams.

These are life’s punching bags, the suckers of the world, the dupes, the clowns, the fools, the eager prey of the con artists.

As Trump himself said, “I could shoot someone in the middle of Times Square and it would not cost me any votes.”

That is Trump’s one true statement.

And it is hilarious, but sad, that these naive folk are the ones who will suffer most if Trump ever were to be elected.

=Rodger Malcolm Mitchell
Monetary Sovereignty
===================================================================================
Ten Steps to Prosperity:
1. ELIMINATE FICA (Ten Reasons to Eliminate FICA )
Although the article lists 10 reasons to eliminate FICA, there are two fundamental reasons:
*FICA is the most regressive tax in American history, widening the Gap by punishing the low and middle-income groups, while leaving the rich untouched, and
*The federal government, being Monetarily Sovereign, neither needs nor uses FICA to support Social Security and Medicare.
2. FEDERALLY FUNDED MEDICARE — PARTS A, B & D, PLUS LONG TERM CARE — FOR EVERYONE (H.R. 676, Medicare for All )
This article addresses the questions:
*Does the economy benefit when the rich afford better health care than the rest of Americans?
*Aside from improved health care, what are the other economic effects of “Medicare for everyone?”
*How much would it cost taxpayers?
*Who opposes it?”
3. PROVIDE AN ECONOMIC BONUS TO EVERY MAN, WOMAN AND CHILD IN AMERICA, AND/OR EVERY STATE, A PER CAPITA ECONOMIC BONUS (The JG (Jobs Guarantee) vs the GI (Guaranteed Income) vs the EB) Or institute a reverse income tax.
This article is the fifth in a series about direct financial assistance to Americans:

Why Modern Monetary Theory’s Employer of Last Resort is a bad idea. Sunday, Jan 1 2012
MMT’s Job Guarantee (JG) — “Another crazy, rightwing, Austrian nutjob?” Thursday, Jan 12 2012
Why Modern Monetary Theory’s Jobs Guarantee is like the EU’s euro: A beloved solution to the wrong problem. Tuesday, May 29 2012
“You can’t fire me. I’m on JG” Saturday, Jun 2 2012

Economic growth should include the “bottom” 99.9%, not just the .1%, the only question being, how best to accomplish that. Modern Monetary Theory (MMT) favors giving everyone a job. Monetary Sovereignty (MS) favors giving everyone money. The five articles describe the pros and cons of each approach.
4. FREE EDUCATION (INCLUDING POST-GRAD) FOR EVERYONEFive reasons why we should eliminate school loans
Monetarily non-sovereign State and local governments, despite their limited finances, support grades K-12. That level of education may have been sufficient for a largely agrarian economy, but not for our currently more technical economy that demands greater numbers of highly educated workers.
Because state and local funding is so limited, grades K-12 receive short shrift, especially those schools whose populations come from the lowest economic groups. And college is too costly for most families.
An educated populace benefits a nation, and benefiting the nation is the purpose of the federal government, which has the unlimited ability to pay for K-16 and beyond.
5. SALARY FOR ATTENDING SCHOOL
Even were schooling to be completely free, many young people cannot attend, because they and their families cannot afford to support non-workers. In a foundering boat, everyone needs to bail, and no one can take time off for study.
If a young person’s “job” is to learn and be productive, he/she should be paid to do that job, especially since that job is one of America’s most important.
6. ELIMINATE CORPORATE TAXES
Corporations themselves exist only as legalities. They don’t pay taxes or pay for anything else. They are dollar-tranferring machines. They transfer dollars from customers to employees, suppliers, shareholders and the government (the later having no use for those dollars).
Any tax on corporations reduces the amount going to employees, suppliers and shareholders, which diminishes the economy. Ultimately, all corporate taxes come around and reappear as deductions from your personal income.
7. INCREASE THE STANDARD INCOME TAX DEDUCTION, ANNUALLY. (Refer to this.) Federal taxes punish taxpayers and harm the economy. The federal government has no need for those punishing and harmful tax dollars. There are several ways to reduce taxes, and we should evaluate and choose the most progressive approaches.
Cutting FICA and corporate taxes would be an good early step, as both dramatically affect the 99%. Annual increases in the standard income tax deduction, and a reverse income tax also would provide benefits from the bottom up. Both would narrow the Gap.
8. TAX THE VERY RICH (THE “.1%) MORE, WITH HIGHER PROGRESSIVE TAX RATES ON ALL FORMS OF INCOME. (TROPHIC CASCADE)
There was a time when I argued against increasing anyone’s federal taxes. After all, the federal government has no need for tax dollars, and all taxes reduce Gross Domestic Product, thereby negatively affecting the entire economy, including the 99.9%.
But I have come to realize that narrowing the Gap requires trimming the top. It simply would not be possible to provide the 99.9% with enough benefits to narrow the Gap in any meaningful way. Bill Gates reportedly owns $70 billion. To get to that level, he must have been earning $10 billion a year. Pick any acceptable Gap (1000 to 1?), and the lowest paid American would have to receive $10 million a year. Unreasonable.
9. FEDERAL OWNERSHIP OF ALL BANKS (Click The end of private banking and How should America decide “who-gets-money”?)
Banks have created all the dollars that exist. Even dollars created at the direction of the federal government, actually come into being when banks increase the numbers in checking accounts. This gives the banks enormous financial power, and as we all know, power corrupts — especially when multiplied by a profit motive.
Although the federal government also is powerful and corrupted, it does not suffer from a profit motive, the world’s most corrupting influence.
10. INCREASE FEDERAL SPENDING ON THE MYRIAD INITIATIVES THAT BENEFIT AMERICA’S 99.9% (Federal agencies)Browse the agencies. See how many agencies benefit the lower- and middle-income/wealth/ power groups, by adding dollars to the economy and/or by actions more beneficial to the 99.9% than to the .1%.
Save this reference as your primer to current economics. Sadly, much of the material is not being taught in American schools, which is all the more reason for you to use it.

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

MONETARY SOVEREIGNTY