Uncategorized cut debt, cut deficits, cut medicaid, cut medicare, cut social security, cut spending, cut taxes, cut the budget, MMT, modern monetary theory, monetarily non-sovereign, monetarily sovereign, monetary sovereignty Rodger Malcolm Mitchell 9:01 am, wordpress.com
Mitchell’s laws: The more budgets are cut and taxes inceased, the weaker an economy becomes. To survive long term, a monetarily non-sovereign government must have a positive balance of payments. Austerity = poverty and leads …
1. Eliminate the FICA tax. It impacts the middle and lower classes, not only directly, but also by making employment more expensive for potential employers. For the lower classes, FICA often is greater than income taxes.
2. Medicare for everyone. Medical expenses are far more traumatic for the 99% than for the 1%, who easily can afford health insurance or even self-insurance. This act also will benefit the states by making Medicaid unnecessary.
3. Increase Social Security benefits to the point where all retired people – not just the 1% — can enjoy a comfortable lifestyle. This has the byproduct of encouraging more people to retire, opening jobs for younger people.
4. Each year, increase the standard deduction on the income tax, so that annually, fewer of the 99% will owe any tax.
5. Send a population-based stimulus payment to each state, so that the monetarily non-sovereign states can afford to improve their infrastructures, education and police and fire protections.
As for Romney and Obama, don’t let them deceive you. Both their plans will widen the gap.
