–Warren Buffett’s brilliant comments on the corporate tax. Monday, Aug 12 2013 

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

Mitchell’s laws:
●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor,
which ultimately leads to civil disorder.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The penalty for ignorance is slavery.
●Everything in economics devolves to motive.

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

History is loaded with examples of people who are clever at one thing, and as a result, believe they are clever at all other things — but turn out to be really stupid at those other things.

This phenomenon is particularly prevalent among people who have made money, and who believe this proves their brilliance (perhaps because rich people surround themselves with praise-spewing sycophants).

A former client, the gum-making Wm. Wrigley Jr. Company, run by the Wrigley family, was a virtual money-printing machine. It spun off so many millions, the Wrigley’s invested in such endeavors as Catalina Island, the Arizona Biltmore Hotel, the Biltmore Fashion Park and the Chicago Cubs — all financial disasters.

So astute was patriarch Philip Wrigley that he died without having created a will, thereby allowing the federal government to gobble up many of those millions, which in turn forced the panic sale (in 1981) sale of the Cubs for only $20 million (most recent valuation: $845 million).

Clearly it was someone money-addled, who first used the line: “If you’re so smart, why ain’t you rich?”

In this same vein, eighteen months ago, we published Why Lower Corporate Taxes Won’t Create More Jobs. Oh, really? Friday, Feb 24 2012, in which we detailed some particularly ridiculous comments by the acclaimed stock-trading genius, Warren Buffett:

“The idea that American business is at a big disadvantage against the rest of the world because of corporate taxes is baloney in my view. In the 50s and 60s, corporate taxes were 52%, and we were making all kinds of [job] gains.”

In essence, Buffett who made his billions buying stocks astutely, though not actually running those businesses, had decided that high corporate taxes are not an impediment to corporate profits.

Apparently, the people who actually do run businesses, disagree:

Wall Street Journal
U.S. Firms Move Abroad to Cut Taxes
By JOHN D. MCKINNON And SCOTT THURM

More big U.S. companies are reincorporating abroad. One big reason: Taxes.

A few (companies) cite worries that U.S. taxes will rise in the future, especially if Washington revamps the tax code next year to shrink the federal budget deficit.

Aon expects to reduce its tax rate, which averaged 28% over the past five years, by five percentage points over time, which could boost profits by about $100 million annually.

Eaton (said) the tax benefits would save the company about $160 million a year.

Ensco followed rivals such as Transocean Ltd., RIG, Noble Corp. and Weatherford International Ltd. that had relocated outside the U.S. The company said the move would help it achieve “a tax rate comparable to that of some of Ensco’s global competitors.”

Despite protestations by Mr. Buffett, the “Wizard of Omaha,” taxes actually do cut company profits.

Even worse, corporate taxes remove dollars from the private sector and send them to Washington, where they no longer are part of the economy and effectively are destroyed.

Businesses do two very nice things for America:
1. They create goods and services that improve our lives.
2. They employ people, paying salaries that also improve our lives.

So one might think a government that cared about our lives, would do everything possible to encourage business success. And one of the things our Monetarily Sovereign government easily could do is eliminate corporate taxes.

After all, a Monetarily Sovereign government neither needs nor uses tax dollars.

Note the above phrase, “a government that cared about our lives.” This government does not care — at least not about the lives of the less-than-rich, for corporate taxes are not paid by top corporate executives.

Corporate taxes are paid by the lowly workers and by customers, and therefore help widen the gap between the rich and the rest.

As we have discussed so many times before, the need for federal deficit reduction is the BIG LIE, a monstrous and cruel lie, developed to widen that gap, and the people who promulgate that BIG LIE either are economically ignorant or are intentionally cruel.

Most “ordinary” Americans fall into the first camp; the President, Congress and the media mostly are in the second group.

Taxing corporations is like starving the goose that lays the golden eggs. It makes no sense unless — unless the goal of the President and Congress is to give the very rich even greater power over mainstream Americans.

Eliminating the corporate tax (including FICA) would:

1. Slash unemployment
2. Increase Gross Domestic Product
3. Reduce poverty
4. Increase the quality of life for every American (except for the very rich, whose lives cannot be improved).
5. Close the wealth and power gap between the rich and the rest

And that is why this President and this Congress, bribed by the rich (via campaign contributions and promises of lucrative employment), will not eliminate corporate taxes.

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================
Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
4. Free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually
8. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)

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

No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
Two key equations in economics:
1. Federal Deficits – Net Imports = Net Private Savings
2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports

THE RECESSION CLOCK
Monetary Sovereignty Monetary Sovereignty

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

#MONETARY SOVEREIGNTY

–The Recession Clock Sunday, Aug 11 2013 

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

Mitchell’s laws:
●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor,
which ultimately leads to civil disorder.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The penalty for ignorance is slavery.
●Everything in economics devolves to motive.

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

The formula for Gross Domestic Product, the most common measure of economic growth and shrinkage, is: Gross Domestic Product (GDP) = Federal Spending (FS) + Private Investment and Consumption (PIC) – Net Imports (NI).

So, it makes sense that reductions in Federal Spending growth, and/or in Private Investment and Consumption growth, would affect GDP growth adversely.

Reductions in Federal Deficit Spending growth reduce both FS and PIC growth. Although recessions have many causes, one would expect to see some relationship between reduced deficit growth and recessions. And so it is.

In the blog post, This graph predicts the future. What does it tell you? we looked at the following graph.

Monetary SovereigntyThe FRED series, Total Credit Market Debt Owed by Domestic Nonfinancial Sectors – Federal Government, is now known as Federal Government; Credit Market Instruments; Liability.

And we asked the following four questions:

1. What does the federal government do in the years leading up to recessions? (Answer: Cut growth in deficit spending)

2. What does the government do that cures recessions? (Answer: Increase deficit spending growth)

3. What is the government doing now? (For a clearer picture, here is a closeup of the most recent past):

Monetary Sovereignty

4. Why is the government cutting deficit spending growth, despite overwhelming evidence this causes recessions? (Because of the false premises that the federal government can run short of dollars, or by creating dollars, could cause inflation.)

On many occasions, we have discussed why it is 100% impossible for our Monetarily Sovereign U.S. government involuntarily to run short of dollars, most recently at: I just thought you should know. Lunch really can be free (Saturday, Jul 27 2013).

Even were zero taxes collected, the federal government could not be forced to run short of dollars.

And at: Federal deficit spending doesn’t cause inflation; oil does (Tuesday, Apr 6 2010), we have demonstrated that federal deficits (i.e. increase in money supply) have not been a cause of inflation

In answer to question #4, Why?, we have discussed how federal spending helps the lower income groups more than it does the higher income groups. So, the rich bribe the politicians (via campaign contribution and promises of lucrative employment) to cut federal spending and to increase taxes on the lowest groups. The FICA increase and the push for “broadening the tax base” are but two examples.

The purpose: To widen the gap between the rich and the rest.

To smooth the path to austerity (i.e. deficit cuts), the voting public is brainwashed by the wealthy-owned media, partly via the publication of various “debt clocks.” The purpose of debt clocks is to shock the public into believing, falsely, the U.S. government is burdened by too much debt.

Missing from these “debt clocks” is any evidence that the government really is burdened or that debt has any negative economic effects. Presumably, the use of the word “debt” provides sufficient shock, despite evidence that lack of debt does have negative economic effects.

For those reasons, it might be helpful to publish in every post, from this day forth, a “Recession Clock” from which the public can draw correct conclusions about austerity, the government’s actions and the probability of those actions causing a recession.

THE RECESSION CLOCK
Monetary Sovereignty Monetary Sovereignty

As the lines drop, we approach recession, which will be cured only when the lines rise. This leads to question #5:

5. Why do we allow Congress and the President to make the lines drop?

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================
Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
4. Free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually
8. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)

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

No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
Two key equations in economics:
1. Federal Deficits – Net Imports = Net Private Savings
2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports

#MONETARY SOVEREIGNTY

–Obama: Edward Snowden is a stinkin’ traitor and should be hung . . . er . . . ah . . . I said what? Friday, Aug 9 2013 

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

Mitchell’s laws:
●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor,
which ultimately leads to civil disorder.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The penalty for ignorance is slavery.
●Everything in economics devolves to motive.

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

In two posts, Police state: Which vital secret did Edward Snowden reveal? and Which vital secret did Edward Snowden reveal? Part II we recounted the foaming-at-the-mouth utterances of our politicians. For instance:

Senator Dianne Feinstein, Chairman of the United States Senate Select Committee on Intelligence, said Edward Snowden is a traitor. He committed treason. He should be found and extradited.

The ever-reliably doltish House Speaker John Boehner said, “He’s a traitor. The disclosure of this information puts Americans at risk. It shows our adversaries what our capabilities are. And it’s a giant violation of the law.”

And the blogsphere was filled with teeth gnashing by angry “patriots,” who want Snowden drawn and quartered and after that have some really bad stuff done to him.

What we didn’t read, and what we have yet to read, is the answer to the question, “What vital secret did Snowden reveal?” Maybe here is the clue:

Reuters, August 9, 2013; Obama pledges greater transparency in surveillance programs
By Steve Holland and Jeff Mason

WASHINGTON, Aug 9 (Reuters) – President Barack Obama announced plans on Friday to limit sweeping U.S. government surveillance programs that have come under criticism since leaks by a former spy agency contractor, saying the United States “can and must be more transparent.”

“Given the history of abuse by governments, it’s right to ask questions about surveillance, particularly as technology is reshaping every aspect of our lives,” Obama told a news conference at the White House.

Saying that it was important to strike the right balance between security and civil rights, Obama said he was unveiling specific steps to improve oversight of surveillance and restore public trust in the government’s programs.

Despite the announcement, the Obama administration has vigorously pursued Snowden to bring him back to the United States to face espionage charges for leaking details of the surveillance programs to the media.

“I don’t think Mr. Snowden was a patriot,” Obama said.

“I, as your President, want you to understand:

“1. Many other governments illegally spy on their citizens.
“2. But not my government — no, absolutely not my government.
“3. And although my government absolutely did not spy on you, we won’t do it again.
“4. You wouldn’t have known about this if it weren’t for that stinkin’ Snowden, so I’m going to track him down and string him up. Why? Because he’s a traitor for letting you know what I’ve been hiding from you.
“5. I want you to remember, I’m the transparency President.”

Obama said he plans to overhaul Section 215 of the anti-terrorism Patriot Act that governs the collection of so-called “metadata” such as phone records, insisting that the government had no interest in spying on ordinary Americans.

“I am not spying on you. Do you consider yourself ‘ordinary’?

“I am just collecting and analyzing data on you, your spouse, your children, your friends, your children’s friends, your relatives, their friends, your neighbors and their friends, your associates and anyone you ever have seen, known, or been near, plus what you read, where you go and what you do.

“But I am not spying on you. Understand?”

Obama will also reform the secretive Foreign Intelligence Surveillance Court, which considers requests from law enforcement authorities to target an individual for intelligence gathering.

He wants to let a civil liberties representative weigh in on the court’s deliberations to ensure an adversarial voice is heard.

“Of course, the ‘weigh in’ will be secret, and you won’t know who the ‘civil liberties representative’ is, what he says, when or why he says it. That’s what I consider “transparency.

“(Hmmm . . . I wonder whether Michelle will take the job.)”

The secretive court, makes its decisions on government surveillance requests without hearing from anyone but U.S. Justice Department lawyers in its behind-closed-doors proceedings.

“Yes, they hear only one side of the story, which is why they never deny a surveillance request — heck, that court would let me spy on your dog if I felt like it. But, what’s wrong with that?

“You never heard of Spy Dog?

“Really, there wouldn’t be a problem if it weren’t for that stinkin’ Snowden spilling the beans.”

Obama also said he wants to provide more details about the NSA programs to try to restore any public trust damaged by the Snowden disclosures.

“Why don’t you people trust me? I’m the President and I know what’s best for you. Don’t ask questions.”

The administration will also form a high-level group of outside experts to review the U.S. surveillance effort.

“Yeah, right. I’ll select outside experts. Sure I will. But ‘experts” in what? Spying on Americans? Baseball? Politics? Movies? Travel? Don’t worry; they’ll be experts in something.”

It is not clear if Congress will take up the initiatives. A number of influential lawmakers have vigorously defended the spying programs as critical tools needed to detect terrorist threats.

“Oh, gee. I really want to stop spying on you, but mean old Congress won’t let me. Also, I didn’t want to raise your FICA tax, cut your Social Security and impose the sequester. Nothing is my fault. I’m just a President. I can’t control this stuff.”

The Snowden disclosures generated concerns about whether people were being forced to sacrifice their constitutionally guaranteed civil liberties in the open-ended search for terrorism links.

“It’s like this. No matter how much we spy on you and take away your liberties, there never can be 100% security. So we always will tell you we need to spy more and more and more, and allow you less and less and less liberty.

“Pretty soon, we’ll need to know what you do in your bedrooms, because you may be discussing terrorist acts, there.

“That stinkin’ Snowden may have slowed us a bit, but by next year, you’ll forget all about him, and we’ll be taking away even more of your freedom.”

The search for Snowden has upset U.S. relations with some Latin American countries, China and, above all, Russia. Obama this week canceled a planned summit in Moscow with President Vladimir Putin.

The revelation of the sweeping U.S. electronic spying programs has also alienated countries such as Germany, which fiercely defends its citizens’ privacy rights.

“I really don’t care what Americans say. I don’t even care what the Germans and China say. And as for Putin, what can I say about a guy who rides horses with his shirt off?

All that concerns me is what my legacy and my rich backers will say. Will I have to include this in my Obama Library? (I’ll ask Penny Pritzker.)

“Meanwhile, wait ’til I get my hands on that stinkin’ Snowden.”

Rodger Malcolm Mitchell
Monetary Sovereignty

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

Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
4. Free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually
8. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)

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

No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
Two key equations in economics:
1. Federal Deficits – Net Imports = Net Private Savings
2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports

#MONETARY SOVEREIGNTY

Police state: Which vital secret did Edward Snowden reveal? Wednesday, Jun 12 2013 

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

Mitchell’s laws:
●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor,
which ultimately leads to civil disorder.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The penalty for ignorance is slavery.
●Everything in economics devolves to motive.

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

According to Senator Dianne Feinstein, Chairman of the United States Senate Select Committee on Intelligence, Edward Snowden is a traitor. He committed treason. He should be found and extradited.

House Speaker John Boehner said, “He’s a traitor. The disclosure of this information puts Americans at risk. It shows our adversaries what our capabilities are. And it’s a giant violation of the law.”

The full weight of the United States of America’s monster security system is being employed to find and punish Snowden. So I am curious about one small detail: Exactly which vital secret did this “traitor” reveal?

Surely, it must be a very big, very damaging secret, to crank up the outrage expressed on both sides of the aisle.

Here is what the National Memo had to say.

Fourth Amendment Purists Are Living In A Dream World
June 12th, 2013, Gene Lyons

Where has everybody been since 2006, when USA Today first revealed the existence of large scale NSA telephone data mining? That was objectionable in two big ways: the Bush White House acted unilaterally, without the court supervision required by law, and it was also indulging in warrantless wiretaps.

Congress fixed that in 2008, permitting statistical analysis of telephone traffic, but requiring both ongoing FISA Court oversight and search warrants for actual eavesdropping.

After his customary tap-dancing, Sen. Barack Obama supported the bill. Hearing no announcement that the Obama White House had canceled the program, a person would have to be awfully naïve to imagine NSA had gone out of business.

Huh?

Way back in 2006, USA Today revealed the existence of large scale NSA telephone data mining? And in 2008, Congress, permitted statistical analysis of telephone traffic?

And now Snowden has “revealed” exactly the same thing?

Three questions:
1. Was USA Today traitorous in 2006, and if so, how was it prosecuted?
2. How was Bush’s lawbreaking punished?
2. What damaging information — information our enemies didn’t know back in 2006 — have our enemies now have learned from Snowden?

Perhaps, there will be other shoes dropping. Perhaps, the real fear is that Snowden may in the future, reveal something of note.

But, could the problem be something else, not concerns about what our enemies might learn, but concerns about what we Americans might learn?

At least, that was the concern with Daniel Ellsberg of the famous “Pentagon Papers” story:

Ellsberg: No leaks more significant than Snowden’s

In 1971, Ellsberg passed the secret Defense Department study of U.S. involvement in Vietnam to The New York Times and other newspapers. The 7,000 pages showed that the U.S. government repeatedly misled the public about the war.

And compare Snowden with Bradley Manning, the U.S. soldier whom the U.S. government has illegally been torturing before for weeks in advance of his kangaroo court trial.

Washington Post
Edward Snowden, Bradley Manning and the risk of the low-level, tech-savvy leaker

The records released by Snow­den are fewer in number but more sensitive and of higher levels of classification than the U.S. diplomatic cables and military reports Manning sent to WikiLeaks after he downloaded them while serving in Iraq.

Snowden has indicated that he sought to be more responsible, withholding records that might put U.S. intelligence operatives in jeopardy, unlike Manning, who is accused of turning over thousands of pages, some of which contained the names of informants.

We’re early in the investigation, but several questions come to mind:

1. Exactly what secrets have been revealed and exactly what damage has been done?

2. Given that somewhere between 30,000 and 200,000 people work in the U.S. intelligence community, how many are morally repulsed by government actions, i.e., how secure are our secrets?

3. Who is the greater traitor, someone who has divulged spying secrets, or someone complicit in destroying millions of Americans’ lives, by withholding the funds necessary to cure the recession, reduce unemployment, provide health care, provide retirement, end student debt, conduct medical research, improve the infrastructure, improve education and on and on and on?

(This last was a question for Barack Obama and John Boehner)

Maybe Snowden has revealed information that will give our enemies (whomever they are) an ability to hurt America they didn’t have before. It would be interesting to know.

Or maybe Snowden turned over a rock, and out crawled a whole bunch of dirty secrets, the government wanted to withhold from the American public.

Two things are highly probable: Snowden will pay heavily for his idealism. And, we never will learn the truth.

Rodger Malcolm Mitchell
Monetary Sovereignty

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

Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Medicare — parts A, B & D — for everyone
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
4. Long-term nursing care for everyone
5. Free education (including post-grad) for everyone. Click here
6. Salary for attending school (Click here)
7. Eliminate corporate taxes
8. Increase the standard income tax deduction annually
9. Increase federal spending on the myriad initiatives that benefit America’s 99%

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

No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
Two key equations in economics:
1. Federal Deficits – Net Imports = Net Private Savings
2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports

#MONETARY SOVEREIGNTY

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