Author Topic: LOCAL SOVEREIGNTY  (Read 31 times)


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« on: December 29, 2018, 06:16:35 pm »
Community Environmental Legal Defense Fund (CELDF)
« Last Edit: December 29, 2018, 06:20:17 pm by Admin »

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« Reply #1 on: December 29, 2018, 06:18:04 pm »
Monetary Sovereignty – Mitchell

The most important problems in economics involve the excessive income/wealth/power Gaps between the have-mores and the have-less.
Wide Gaps negatively affect poverty, health and longevity, education, housing, law and crime, war, leadership, ownership, bigotry, supply and demand, taxation, GDP, international relations, scientific advancement, the environment, human motivation and well-being, and virtually every other issue in economics.
Implementation of The Ten Steps To Prosperity can narrow the Gaps:

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.
This article addresses the questions:
*Does the economy benefit when the rich can afford better health care than can 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 A MONTHLY ECONOMIC BONUS TO EVERY MAN, WOMAN AND CHILD IN AMERICA (similar to Social Security for All) (The JG (Jobs Guarantee) vs the GI (Guaranteed Income) vs the EB (Economic Bonus) ) 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 EVERYONE Five 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 benefitting the nation is the purpose of the federal government, which has the unlimited ability to pay for K-16 and beyond.
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.
Businesses are dollar-transferring machines. They transfer dollars from customers to employees, suppliers, shareholders and the federal government (the later having no use for those dollars). Any tax on businesses reduces the amount going to employees, suppliers and shareholders, which diminishes the economy. Ultimately, all business taxes reduce 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 business taxes would be a 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.
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.

The really, really, really simple arguments for Monetary Sovereignty

The “myth” of Monetary Sovereignty

About not using our Monetary Sovereignty: Postal edition

When does a dollar become a dollar? The federal black box.

The MMT Jobs Guarantee con job

One more reason why the MMT Jobs Guarantee is a con job

MMT’s “Jobs Guarantee”: The final nail in the coffin of this naive, foolish program

How the MMT “Jobs Guarantee” ignores humanity.

The stunning differences between MMT and MS

Economics and a tin foil hat

When should a nation buy or sell gold?

Regarding the economy, what is the Fed’s most important job?

Why Trickle-up Economics?

How false economic ideas are disseminated: Terry Savage edition

Do you know more than a university economist?

Your Social Security and Medicare will be cut. You’ve been warned.

Yet another article that relies on you being ignorant about federal finances and Social Security

The end of social security?

How you can help protect Medicare and Social Security

Trump’s Larry Kudlow: The Social Security killer. Are you outraged?

AARP spreads the usual Social Security myths

Message to America: Torture the Children

The final solution to the immigration problem. Torture the Children.

Cruelty to children; your government’s official policy

Do immigrant children take money from our children?

Are your children important enough to you?

America’s long-term care. Suffer in illness, then die early in poverty

Evidence anti-poverty programs work. So why not?

How to cut the fake “national debt”

Federal Reserve Bank of St. Louis admits federal “debt” is not a real problem

Federal debt is too high; no it’s not; oops, yes it is . . . uh, wait.

The persistence of myths: The federal “debt” myth

The debt “bomb” and Rachel Maddow. Not you too? Say it isn’t so

Enough already, with the Debt/GDP ratio

The fake “debt time-bomb,” still ticking after 78 years

That ol’ debt crisis, it just keeps loomin’, it keeps on loomin’ along.

The debt lies just keep on coming.

A debt question from Quora, asked and answered

Sorry for the hiatus. The Trump recession is coming

Liberals, conservatives and gold bugs talking past each other.

What is the complex relationship among inflation, deficits, interest rates, oil prices, tax cuts, and GDP?

The great trade-deficit hoax

That horrible, terrible, frightening trade deficit

Finally, a faint ray of hope about the federal deficit

Questions about the trade deficit illusion. Do we even have a trade deficit?

Ignore the most misleading words in economics and the reasons for Trump’s import duties.

Are you paying for Trump’s tariffs?

When ego meets ignorance: Who pays for tariffs? You do.

The tariff nose-cutting, pissing contest

More on tariffs. Moron tariffs

Tariffs vs. spending

Ten answers that are contrary to popular wisdom

Do you believe the single worst lie in the entire spectrum of government/media lies?

Excerpts from Maya MacGuineas completely wrong testimony to Congress
Questions for the Supreme Court — and for you.
America lost
Who are these men?
The biased hypocrite twist
Self-immolation by the Dems
The great “bad” news and the bad “great” news. The boy who cried “wolf”!
No kidding: Trump says the world will end by 2100, so no use trying to save it.
“Good comes from bad,” Trump version
Our counterfeit reality
Black is white. Up is down. Income is outgo.
Serena Williams and the “f” word
The “law and order” party objects to illegality — by brown-skinned people.

Who will speak for the Republican Party?
The doofus science
Who is the “crazed, crying, lowlife dog”?
The shame and horror of America
A false defense of income inequality
The great “socialism” fakeout
Absolute proof that H.L. Mencken was right — in 3 articles.
What is the greatest threat to America? We teeter on the edge.
Kenahora: Why there is no “business cycle”
As I told you, two years ago . . .
The fake trade and NATO wars
A new idea about U.S. border protection

Translating the code in a news article
Law without compassion is tyranny
God Bless America
The disaster that is named “Cruelty”
Who says Trump doesn’t have a plan?
Fake federal trust funds and fake concerns
Why the Democrats need new leadership
I could not help writing this article, and you cannot help reading it.
*The secret of marketing. How the Democrats again will blow a 20-point lead with only 1 second remaining
*The Job Guarantee and the “dignity of work”
What is the real purpose of money? Gap Psychology and fairness. You may never have thought of it this way.
No need for you to visit Hungary
Macron spoke. The contrast is stunning.
Great News! Wells Fargo to pay $1B penalty . . . uh, wait . . .
Lie with the pig. Embrace the pig. Muddy like the pig.
A perfect example of deception — by ignorance or by intent?
The CRFB myth machine keeps on rolling
As we march toward a “Terminator” world
How does Gap Psychology affect you?
Interest rates going up: Should you be concerned?
Credentials: The perfect excuse for a bad hiring decision.
Gap Psychology is everywhere in your life
In the World of President Bullfrog
How can something be frightening, infuriating, and hilarious all at once?

The Power of the Partial Solution
The damn fools and greedy bastards who run America
We all are doomed — again. What will it take for us to understand?
News!! Trump does something right (but he doesn’t know it).
Parental leave: A good idea. Congress: First ignore, then screw up.
Good is bad. Up is down. Other “truths” the authorities are telling you
When all life is interim, what next? What is “The Plan”?
Fake News comes at us from all sides
Ignorance or Treachery?
Treating the 99% like dogs: The “crumb” theory.”
A visit to the Holocaust museum through the golden door.
The monster conspiracy of deceit in Washinton. What you can do.
On making America great, again
What will cause the end of the bull market
Why you should care abut this question: “Should Amazon’s postal rates be increased?”
Slowly the noose tightens on us
Time for a laugh
Big Lie on display: Jack Lew, a “broke” America, and the “ticking time bomb.”
Yes, there is a simple, straightforward way to reduce violent crime. Really.
Voting for the GOP? You either are rich or a fool – or both. No exceptions.
Quora question about Congressional will
What happens when Gap Psychology dominates Decency?
“Lügenpresse”: Hitler’s “fake news.” We’re making the same mistake, again.
Get the best of President Bannon