Inequality: Begins with money. Doesn’t end there.

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

Mitchell’s laws:
•Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
•Any monetarily NON-sovereign government — be it city, county, state or nation — that runs an ongoing trade deficit, eventually will run out of money.
•The more federal budgets are cut and taxes increased, the weaker an economy becomes..

Liberals think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.

•The single most important problem in economics is the Gap between rich and the rest..
•Austerity is the government’s method for widening
the Gap between rich and poor.
•Until the 99% understand the need for federal deficits, the upper 1% will rule.
•Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..

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

It is my very strong believe that the single most important problem in economics is the Gap between rich and the rest..

It’s so important because it is not just a money Gap. It only begins with money.

Consider The Thirty Million Words Initiative:

Dr. Dana Suskindg grants the gift of sound to children who were born deaf or for any other reason, do not have the ability to hear.

In 2006 she founded the pediatric cochlear implant program at Comer Children’s Hospital at the University of Chicago. If you’ve seen the YouTube videos of toddlers hearing their parents’ voices for the first time, you know it’s nothing short of transcendent.

When these children start to hear, the excitement really begins. The world as they’ve known it their entire lives is altered in an instant.

During follow-up appointments, however, Suskind began to notice disturbing discrepancies in her patients’ progress.

Two of her first patients, Zach and Michelle, received cochlear implants around their first birthdays. “Same potential, same surgery, but very different outcomes.”

Zach immediately soaked up sounds and words. By third grade, he was mainstreamed into a public school classroom and scored at grade level in reading and math.

Michelle, on the other hand, was reading only at a kindergarten level in third grade and used very little spoken or sign language. Her hearing was normal, but she struggled to grasp the meaning of most words and appeared unable to learn them, even with extra help.

(In searching for why), Suskind discovered research by psychologists Betty Hart and Todd Risley who had set out to investigate why lower-income children consistently underperformed at school, compared to their higher-income peers.

They refused to accept the conventional wisdom: “Poor people — It wasn’t in their genes to be smart.

Hart and Risley discovered that kids born into poverty heard, in their first three years of life, 30 million fewer words than those born into more affluent families.

And the words poorer children did hear (were less sophisticated and) consisted of more prohibitions (“Don’t”) and fewer affirmations (“Nice job”).

The article goes on to describe the heartbreak of children being condemned to lower IQ by the accident of their parents’ income — the tragedy of wasted potential.

The brainpower of a nation’s children benefits that nation. The “brain drain” includes not only smart people leaving a country, but the nation cheated out of its children’s intellectual potential.

By cutting benefits to the middle and lower classes — food stamps, Medicaid, unemployment compensation, good schooling — and by working to destroy unions (unionized employees earn more), the politicians cut America’s potential.

The rich may say the poor deserve their poverty, them being lazy (“If you give them anything, they won’t work”) and unmotivated, but that false belief works against America’s future competitiveness.

The single best way to “Make America Great Again” (as Donald Trump bellows), is to eliminate poverty and to lift the lower and middle-income groups. If Trump truly believed his own slogan, he would opt for the Ten Steps to Prosperity (below).

The income/wealth/power Gap translates into an education Gap, a health Gap, a creative Gap, a motivation Gap, an opportunity Gap and many other related Gaps, the narrowing of which would benefit all Americans.

In many respects, America is a team, where the contributions of each member benefit the whole.

The next time you feel resentful that the poor may be “receiving more than they have earned or deserve,” remember that their future contributions benefit you. This is what really makes America great.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
Ten Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. 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 Click here
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)

10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

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

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

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

THE RECESSION CLOCK

Recessions come after the blue line drops below zero.

Monetary Sovereignty

Vertical gray bars mark recessions.

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

#MONETARYSOVEREIGNTY

The real rea$on gun$ are not well controlled

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

Mitchell’s laws:
•Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
•Any monetarily NON-sovereign government — be it city, county, state or nation — that runs an ongoing trade deficit, eventually will run out of money.
•The more federal budgets are cut and taxes increased, the weaker an economy becomes..

Liberals think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.

•The single most important problem in economics is the Gap between rich and the rest.r.
•Austerity is the government’s method for widening
the Gap between rich and poor.
•Until the 99% understand the need for federal deficits, the upper 1% will rule.
•Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..

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

There were 12,282 gun deaths this year according to Gun Violence Archive.

And according to Mass Shooting Tracker there have been at least 353 mass shootings in America so far this year, with still almost a month to go. (A mass shooting is defined as “four or more people shot in an event, or related series of events, likely without a cooling off period.”.)

You don’t hear much about mass knifings, mass baseball battings, mass stranglings, mass throwing-off-of-cliffings, etc. for the simple reason that guns are uniquely designed to commit mass violence. They are the tool of choice when one wishes to commit large-scale mayhem.

There are more guns in America than people. And control over gun sales is minimal. Anyone can go to a gun show and buy the most lethal weapons there, and no one will ask questions.

You can tattoo the words, “I’m a mass murderer” on your forehead, and still buy guns from your next-door neighbor or from a stranger in the street, — and no test, no registration required. It’s all legal.

You need a license and skill-testing to drive a car, and an official title to buy one. Not so with guns.

And you need not belong to a “well-regulated” militia or a well-regulated anything.

Why?

Because in its most recent interpretation of the 2nd Amendment to the Constitution, the right wing of the Supreme Court decided that of all the phrases in the U.S. Constitution, the following uniquely has no meaning whatsoever: “A well-regulated militia being necessary to the security of a free state. . . “

They are “throw-away” words, to be ignored — the only meaningless phrase in the Constitution.

Little did the Amendment’s authors know.

Normally courts, and especially the Supreme Court, parse every sentence, every phrase, every word in the law when making a judgment. Guns are unique in the right wing world.

It was not always thus. In its earlier manifestations, the words “well-regulated militia” were taken quite seriously.

Conflict and compromise in Congress produce the Bill of Rights

James Madison’s initial proposal for a bill of rights was brought to the floor of the House of Representatives on June 8, 1789, during the first session of Congress. The initial proposed passage relating to arms was:

The right of the people to keep and bear arms shall not be infringed; a well armed and well-regulated militia being the best security of a free country but no person religiously scrupulous of bearing arms shall be compelled to render military service in person.

On July 21, Madison again raised the issue of his bill and proposed a select committee be created to report on it. The House voted in favor of Madison’s motion, and the Bill of Rights entered committee for review. The committee returned to the House a reworded version of the Second Amendment on July 28.

On August 17, that version was read into the Journal:

A well regulated militia, composed of the body of the people, being the best security of a free State, the right of the people to keep and bear arms shall not be infringed; but no person religiously scrupulous shall be compelled to bear arms.

In late August 1789, the House debated and modified the Second Amendment. These debates revolved primarily around risk of “mal-administration of the government” using the “religiously scrupulous” clause to destroy the militia as Great Britain had attempted to destroy the militia at the commencement of the American Revolution.

These concerns were addressed by modifying the final clause, and on August 24, the House sent the following version to the Senate:

A well regulated militia, composed of the body of the people, being the best security of a free state, the right of the people to keep and bear arms shall not be infringed; but no one religiously scrupulous of bearing arms shall be compelled to render military service in person.

The next day, August 25, the Senate received the amendment from the House and entered it into the Senate Journal.

However, the Senate scribe added a comma before “shall not be infringed” and changed the semicolon separating that phrase from the religious exemption portion to a comma:

A well regulated militia, composed of the body of the people, being the best security of a free state, the right of the people to keep and bear arms, shall not be infringed, but no one religiously scrupulous of bearing arms shall be compelled to render military service in person.

By this time, the proposed right to keep and bear arms was in a separate amendment, instead of being in a single amendment together with other proposed rights such as the due process right. As a Representative explained, this change allowed each amendment to “be passed upon distinctly by the States.”

On September 4, the Senate voted to change the language of the Second Amendment by removing the definition of militia, and striking the conscientious objector clause:

A well regulated militia, being the best security of a free state, the right of the people to keep and bear arms, shall not be infringed.

The Senate returned to this amendment for a final time on September 9. A proposal to insert the words “for the common defence” next to the words “bear arms” was defeated. An extraneous comma added on August 25 was also removed.

The Senate then slightly modified the language and voted to return the Bill of Rights to the House. The final version passed by the Senate was:

A well regulated militia being the security of a free state, the right of the people to keep and bear arms shall not be infringed.

The House voted on September 21, 1789 to accept the changes made by the Senate, but the amendment as finally entered into the House journal contained the additional words “necessary to”:

A well regulated militia being necessary to the security of a free State, the right of the People to keep and bear arms shall not be infringed.

On December 15, 1791, the Bill of Rights (the first ten amendments to the Constitution) was adopted, having been ratified by three-fourths of the states.

In United States v. Miller (1939), the Supreme Court ruled that the federal government and the states could limit any weapon types not having a “reasonable relationship to the preservation or efficiency of a well-regulated militia”.

It is clear that the drafters of the 2nd Amendment wanted the existence of a “well-regulated militia” to be the basis for the public keeping and bearing arms.

After all, what fool would want everyone to carry highly lethal weapons with no supervision, no education and no licensing, whatsoever. The authors of the Constitution were smarter than that.

However:

In District of Columbia v. Heller (2008), and McDonald v. Chicago (2010). In Heller, the Supreme Court resolved any remaining circuit splits by ruling that the Second Amendment protects an individual right.

Justice Scalia, writing for the Court in Heller:  The right of the whole people, old and young, men, women and boys, and not militia only, to keep and bear arms of every description, not such merely as are used by the militia, shall not be infringed, curtailed, or broken in upon, in the smallest degree; and all this for the important end to be attained: the rearing up and qualifying a well-regulated militia, so vitally necessary to the security of a free State.

If you believe this was an example of turning and twisting words to come to an illogical conclusion, I agree with you.

Why then, after 200+ years of judicial thought in one direction, did the right wing of the Supreme Court do an about-face, and change the meaning of the 2nd Amendment?

It has to do with the right wing’s traditional appeasement of business.

Gun industry execs admit business booms following mass shootings, as sales ‘just went crazy’ after Sandy Hook massacre

The dirty little secret behind mass shootings across the country is that the gun industry is cashing in on them.

And the executives admit it.

“The gun business was very much accelerated based on what happened after the (2012) election and then the tragedy that happened at Sandy Hook,” Ed Stack, the chief executive of Dick’s Sporting Goods, said in September 2014.

“You can see after a tragedy, there’s also a lot of buying,” Jeff Buchanan, the chief financial officer of Smith & Wesson, said two years ago.

The seemingly callous comments were made not to the public, but behind closed doors at various industry events, according to The Intercept website.

The key element is money:

James Debney, Smith & Wesson’s chief executive, told investors in 2013 that “the tragedy in Newtown and the legislative landscape” resulted in sales that were “significantly up.”

“Fear and uncertainty that there might be increased gun control drove many new people to buy firearms for the first time.”

 

Fear and uncertainty. Fear and uncertainty. Those are the keys to gun sales.

The armament manufacturers and their paid stooges at the NRA absolutely love a mass murder. It’s money in their pockets.  It’s the next best thing to an all-out war.

And what has been the mantra of the Republican party? Fear and uncertainty. Fear of immigrants: Central, South American and Mexican. Fear of Syrian immigrants. Fear of Muslims. Fear of ISIS. Fear of gays. Fear of blacks. Fear of Jews. Fear of Catholics. Fear of gangs. Fear of the government.

Fear of THEM!

Republican fear mongering, on behalf of weapons manufacturers, has terrorized those who feel threatened by various elements in their lives. So terrorized are Americans, that whenever someone speaks of any type of sensible gun control, the reaction is rage and hatred.

Cleverly, the weapons makers, in cahoots with the Republican party (the notorious “military / industrial complex”), have created a highly profitable arms race, not only internationally, but right here in America.

Guns kill. The more guns, the more killing. So because more people have guns, you need guns to protect yourself. And when you buy guns, other people need to buy guns to protect themselves against you.

And then you need to buy even more guns, to protect yourself against them. It’s a self-replicating, tit-for-tat, endless system.

Fear and uncertainty — and money. That has replaced the “well-regulated militia” in our Constitution.

Wars are profitable, even domestic wars. And by pitting Americans against Americans and immigrants, the right has created a very profitable war, indeed.

Money is why guns are not more controlled.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
Ten Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. 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 Click here
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)

10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

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

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

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

THE RECESSION CLOCK
Monetary Sovereignty

Vertical gray bars mark recessions. Recessions come after the blue line drops below zero and when deficit growth declines.

As the federal deficit growth lines drop, we approach recessions, each of which has been cured only when the growth lines rose.

Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
Ten Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. 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 Click here
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)

10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

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

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

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

THE RECESSION CLOCK
Monetary Sovereignty

Vertical gray bars mark recessions. Recessions come after the blue line drops below zero and when deficit growth declines.

As the federal deficit growth lines drop, we approach recessions, each of which has been cured only when the growth lines rose.

Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY

Guns and fake arguments

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

Mitchell’s laws:
•Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
•Any monetarily NON-sovereign government — be it city, county, state or nation — that runs an ongoing trade deficit, eventually will run out of money.
•The more federal budgets are cut and taxes increased, the weaker an economy becomes..

Liberals think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.

•The single most important problem in economics is the Gap between rich and the rest.r.
•Austerity is the government’s method for widening
the Gap between rich and poor.
•Until the 99% understand the need for federal deficits, the upper 1% will rule.
•Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..

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

We believe what we want to believe.

When Mr. Trump says he will build an impossible wall and make Mexico pay for it, and deport 11 million people and “bring back the good ones,” some people actually believe that nonsense.

They believe what they want to believe, no matter how illogical and unfounded.

And when the right wing disagrees with the vast majority of climate scientists, and claims that humans are not causing climate change, some people actually believe that nonsense.

They believe what they want to believe, no matter how illogical and unfounded.

Perhaps no subject is more filled with fake arguments than guns. Americans have more guns, per capita, than any nation on earth. We also have more gun-related mass killings. Many people believe there is no relationship between those two facts.

They believe what they want to believe, no matter how illogical and unfounded.

When the U.S. Supreme Court says the words, “A well regulated Militia, being necessary to the security of a free State . . .” do not refer to a militia, much less to a well-regulated militia, people actually believe that nonsense.

They believe what they want to believe, no matter how illogical and unfounded.

Which brings us to the latest bit of gun-related illogic:

How Background Checks and an ‘Assault Weapon’ Ban Failed in San Bernardino
Two of President Obama’s favorite gun control solutions did not prevent this week’s massacre.
Jacob Sullum|Dec. 4, 2015 8:45 am

The Washington Post reports that the four guns used in the San Bernardino massacre “were all purchased legally from federally licensed firearms dealers,” which means the buyers passed background checks.

As usual, in other words, President Obama’s knee-jerk response to mass shootings—”universal background checks”—makes no sense.

The fact that the rifles were legally purchased in California exposes the fatuousness of another gun policy that Obama favors: a federal ban on so-called assault weapons.

California has one of the country’s strictest “assault weapon” bans, but somehow it did not forbid the sale of rifles that have been widely described in the press as “assault weapons.”

Someone please tell Mr. Sullum that today, a licensed doctor gave a patient some pills that killed the patient, thereby “proving” that licensing of doctors “makes no sense.”

And I understand that today, a 15-year-old boy purchased some cigarettes and alcohol, thereby “proving” that laws against selling cigarettes and alcohol to minors “make no sense.”

And recently, in Chicago, a trained police officer killed an unarmed boy, by pumping 16 bullets into him, thereby “proving” that Chicago’s police officer requirements — completion of the police academy courses, take the State of Illinois Certificate Examination and field evaluation and training — “make no sense.”

Further, the fact that California law did not forbid the sale of the specific guns used by the terrorists is offered as “proof” that outlawing any types of guns doesn’t work. So let’s legalize machine guns and bazookas?

You will hear and read a great number of comments in the vein, “This [law] would not have stopped the terrorists, so we shouldn’t do it.”

Of course, it’s all self-serving crap.  No one law can completely stop every act it was designed to stop.

Laws against speeding cannot stop all speeding. Laws against murder cannot stop all murder.

But we have such laws because they can help reduce the incidence of negative acts.

And that is the real point. The fact that we can’t entirely eliminate gun murders, is not a valid reason to do nothing. We should try to reduce the murder rate.

In the real world, it’s rare that any important problem can completely be fixed by one big solution. Our lives depend on partial solutions, so step-by-step we reach our goals.

Don’t be fooled by the gun manufacturers and their shills: The NRA et al.

Gun control laws can reduce the violence and the killing.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
Ten Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. 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 Click here
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)

10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

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

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

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

THE RECESSION CLOCK
Monetary Sovereignty

Vertical gray bars mark recessions. Recessions come after the blue line drops below zero and when deficit growth declines.

As the federal deficit growth lines drop, we approach recessions, each of which has been cured only when the growth lines rose.

Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY

Rubio’s indentured servant plan for college students

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

Mitchell’s laws:
•Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
•Any monetarily NON-sovereign government — be it city, county, state or nation — that runs an ongoing trade deficit, eventually will run out of money.
•The more federal budgets are cut and taxes increased, the weaker an economy becomes..

Liberals think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.

•The single most important problem in economics is the Gap between rich and the rest.r.
•Austerity is the government’s method for widening
the Gap between rich and poor.
•Until the 99% understand the need for federal deficits, the upper 1% will rule.
•Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..

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

The Gap is the difference between the rich/powerful and the rest of us.

Without the Gap, no one would be rich (we all would be the same), and the wider the Gap, the richer the rich are. That is one result of the Gap: To separate the rich from the rest.

But, the Gap has another purpose: To give the rich control over the rest of us, and here is where Marco Rubio’s plan comes in:

Rubio’s College-Cost Plan Deserves a Chance
15 DEC 2, 2015, By Paula Dwyer (Paula Dwyer writes editorials on economics, finance and politics. She was previously London bureau chief for Businessweek and Washington economics editor for the New York Times.)

Marco Rubio has taken a lot of heat for endorsing what some have derided as indentured servitude for college students.

Intriguingly, the plan the Republican presidential candidate is backing is indentured servitude, though strictly voluntary, as he keeps pointing out.

It’s also one of the more promising solutions to the U.S. student-debt predicament.

Never mind that indentured servitude during the 17th and 18th century also was largely voluntary. It was oppressive and intolerable then; it would be oppressive and intolerable now.

[Indentured servitude was a labor system where people paid for their passage to the New World by working for an employer for a certain number of years. It was widely employed in the 18th century in the British colonies in North America and elsewhere.

It was especially used as a way for the poor in Britain and the German states to get passage to the American colonies.

They would work for a fixed number of years, then be free to work on their own. The employer purchased the indenture from the sea captain who brought the people over; he did so because he needed labor.

About half of the white immigrants to the American colonies in the 17th and 18th centuries were indentured.]

When people are desperate, they often will “volunteer” to do desperate things.

The rich count on that. Workers in the infamous garment industry sweatshops were largely “voluntary.”

The new method, called income sharing, typically involves a “loan” from investors to students.

Instead of paying the money back with interest, students contract to pay their investors a set percentage of income for a fixed number of years after graduation.

The concept dates to 1955, when economist Milton Friedman concluded it made no sense to require new graduates to make fixed loan payments when earnings are so low.

Instead, he suggested, why not make equity investments in human beings?

Investors could finance college students by buying a share in their earnings prospects.

Successful graduates, some of whom would pay back more than the initial investment, would compensate for the unsuccessful ones.

It all sounds so neat and cozy. Poor kids would take out these loans. (Rich kids won’t need Rubio’s loans)

Those poor kids, who need every penny they earn would, for years and years, give some percentage of their earnings to rich people.

What a concept!

But it gets even better:

Investors are more likely to offer generous repayment terms to students who choose fields in great demand, and who select colleges with a high rate of return on their degrees.

Said another way, “Investors are more likely to offer onerous repayment terms to students who choose fields or colleges the investors don’t like.”

The rich investors would gain control over:
1. The subjects students study.
2. The colleges the students attend.
3. The subjects those colleges offer.

4. The percentage of salary the students must pay.
5. The number of years the students must pay.

If you prove to be a good, little indentured slave er, ah, servant, you might even get a break on those terms — or not. That would depend on what your rich master wants.

Forget about studying in less remunerative areas like teaching, agriculture, physics, mathematics, geology and other sciences (How much do those guys make, anyway?) And for sure, don’t work for charities or other “do-gooder” enterprizes. We’d have to make you work for us, for the rest of your life.

We rich want you poor people to study banking, investing and other business courses, so  you can work for our companies. That’s where the real dollars are and that is where we’ll make the most money.

The college-debt problem is worse than we thought, recent data show. Outstanding balances now exceed $1.2 trillion, four times the amount of 12 years ago.

One in six borrowers is delinquent or in default.

Low-income borrowers, especially those attending historically black institutions, two-year community colleges and for-profit universities, hold much of the outstanding debt — and are behind 70 percent of the defaults.

The poorer you are, the more difficult it is for you to pay off your loan. Knowing that, what will an investor do?

Right. He will not make the loan or he will demand a high percentage from poorer people’s salaries, i.e those “repayment terms” mentioned earlier.

Bottom line: Rich investors want to own the rest of us. They want to get in on the thievery, while restoring the indentured servant system that traps the poor into never-ending servitude.

So they came up with this corollary to Bush’s attempt to privatize Social Security — a program to enrich Wall Street and create debt servants.

Of course, the whole thing is a gigantic, right-wing scam — completely unnecessary and economically damaging.

Think:

If elementary school students don’t pay for school. And high school students don’t pay for school. Why should college students pay for school?

And if monetarily non-sovereign cities can pay for elementary school, and monetarily non-sovereign counties and states can pay for high school, why can’t the Monetarily Sovereign federal government pay for college?

We could eliminate the disgraceful trillion dollar weight on the poor and middle classes with one simple law — a law similar to the one that makes elementary and high school free:

See: Federal payment for college.

Suggest that, and listen to the rich squeal.

Rodger Malcolm Mitchell
Monetary Sovereignty

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Ten Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. 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 Click here
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)

10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

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

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

THE RECESSION CLOCK
Monetary Sovereignty

Vertical gray bars mark recessions. Recessions come after the blue line drops below zero and when deficit growth declines.

As the federal deficit growth lines drop, we approach recessions, each of which has been cured only when the growth lines rose.

Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY