"12 Myths About Taxing the Rich"

 At the link below, Prof. Reich blows away the misleading statements and outright propaganda coming from the Rich and the Media pundits who favor them.  The short clip is four years old, but about 99.9% of it still applies today.

https://www.youtube.com/watch?v=pnoLAMHwf2I&list=WL&index=68&t=5s

While a few of those myths most likely are known as such by Main Street, I'm guessing the majority of them are not.  Every voter (in particular) will be better informed after watching this piece.  The arguments used by the Rich against a "wealth tax" simply don't hold up under scrutiny.  Have a look, and see if you agree.

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Not only my opinion.  Be Well

I don't know anything about this man, but...

 he's about 99% on the mark.

https://www.youtube.com/watch?v=xgXda61MtWE

This short clip gives you a condensed view of the last 50 years of the U.S. Government's economic philosophy.  One of the best lines in the piece is:  "We've basically had the same President since 1982, & yes, that includes the Black one.".  [Relative to economics]  Amen.  

This is why for 50 years we've been experiencing the greatest transfer of wealth to the Upper Crust in all of human history.  The clip explains it to a "T".  It's the best 12-minute lesson in economics you'll ever experience.  It also clearly demonstrates why I keep saying:  except for a few social hot-button issues, it doesn't matter one whit whether Dems or Repubs are the majority in the Fed Gov't.

The remedy for all this is fairly simple in concept.  Vote the neoliberal politicians out of office.  Unfortunately, rampant propaganda in the USA (and elsewhere) kills any desire/will to do so.  A change is required, and it seems to me education is the key to launching such change.  [Perhaps better stated: "...the key to continuing such change."] So, whenever appropriate, start educating people.  Or, if you like the current system, then don't start.  Naturally, it's your choice.

If you really don't have (and can't make) the time to counter the neolib propaganda, then support outfits which do; or, at least suggest to people - when appropriate - that they might find such groups interesting.

Here are only a few of those outfits (in no particular order):

https://earthjustice.org/

https://woods.stanford.edu/

https://mahb.stanford.edu/what-is-the-mahb/

https://steadystate.org/

https://www.gp.org/

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Not only my opinion.  Be Well

The U.S. Department of Sustainability

In the article at the link in my last post, the author cites a few governments which are exceptions to the contention that politics and politicians essentially are incapable of effectively dealing with our worldwide Crisis.  The exceptions are:  "New Zealand, Bhutan,  most of the Scandinavian countries, [and] Germany perhaps...".  In my opinion, here are a few more (in no particular order):  Netherlands, Austria, Costa Rica, Portugal, and Uruguay.  There are several others, as well.  The USA is not one of them.

Despite the praiseworthy efforts of the exceptions above, the world as a whole is not yet where it needs to be relative to significantly dealing with the socio-eco-econ-ethical Crisis.  There are about 200 countries in the world today.  [That's not counting a few dozen which are not recognized by the U.N., but have declared themselves independent.]  The Crisis we are in is global, and surmounting it will require a global effort.  Furthermore, the "Market" will not solve the problem.  It will take Main Street, NGOs, all manner of other groups, the U.N., Business (of a flavor different from much of what we have today), and yes, Governments as well.

We all know that.  Or rather, all of us do except for most economists, most politicians, and a few others.  The problem here is 1) lack of knowledge in high places, and 2) the focus is on the wrong aspect of our existence, as follows.

1)  As pointed out in the essay by Julian Cribb, Leaders around the world (with a few notable exceptions) essentially are clueless when it comes to Ecology and Environmental Science.  They seem to think going Green means only solar panels, electric vehicles, and recycling.  A few probably add reuse and using less.  They appear to know little-to-nothing about the importance of biodiversity in Nature, the extent of toxicity in our environment, the nuclear waste problem, the nuke weapons problem, desertification, soil degradation, the extent of both income and wealth inequality and their impact, the problem of inequity, and on & on.

To compound the problem, the advisors of many Leaders are mostly lawyers or mainstream economists.  All they seem to know is the status quo.  On top of that, there's no (in the USA, at least) comprehensive, centralized Gov't agency with the purpose of implementing sustainability.  I don't even know which current agencies are working on it, probably in isolation.  None of the above bodes well for sustainability.

2)  It seems 99.9% of the time when government begins working on some aspect of the socio-eco-econ-ethical Crisis we're facing, too much emphasis is on the economy only.  Everything else is shoved to the back of the bus, or thrown under it.

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For those who still believe government plus technology is going to solve the Crisis, I suggest this:  "lobby" hard for a national Department of Sustainability.  Sustainability has three major components:  environmental, economic, and social.  In such a department, all three components must be equally represented.  It's a transdisciplinary field, and comprehensive thinking is paramount.  This proposed department should be staffed with botanists, wildlife biologists, ecologists, agriculturalists, anthropologists, ecological economists, industrial ecologists, and perhaps an environmental geographer, a climatologist, and an ethics philosopher.  [I imagine I left out an important field or two.]  With all that, government might come up with significant solutions.

How will the new department be financed?  There are numerous possibilities, none of which involve increasing taxes on wage earners.  For example, tax the billionaires 0.1% on their incomes.  They should be anxious to help finance the discovery of solutions.  Why?  Because civil society is at stake.  Or, cut the Defense budget by 1% (or some such number).  Or, cut the budgets of every current Department by some appropriate fraction of 1%.  Or, believe it or not, there are many millionaires who are divesting themselves of a large portion of their wealth.  Solicit their donations.  Or, root out the financial waste in all departments and use that.  Or, mix & match from the above.  Or, just "print" the money.  The Fed Reserve has been doing something similar to that for a few decades.  It's not good for the value of the dollar, but then, neither is the collapse of organized human existence.  Hello.

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Not only my opinion.  Be Well

Finally - It's About Time!

A day or two ago, there was a unanimous SCOTUS decision against excessive fines, fees, & civil asset forfeiture imposed by State, County, & City authorities.  Texas, in particular, is infamous for such practices, plus "Debtor's Prison" if you can't afford the freight.  Example:  a fine of $569 (if I recall correctly) for grass too high in a vacant lot (the back lot of a residential double lot).  The "court fees" are added to that...hundreds of dollars more.  If you can't pay immediately, chances are great that you go to jail.  In California, if you run a red light, the fine is $100; but $390 is added to that in the form of "fees".  $490 for trying (and failing) to make a yellow light.  Outrageous.

I didn't see this story on the Corporate TV News, but it was a lead story on Democracy Now.  The Corporate Media seem to avoid any stories that have even a hint of the growing poverty in the USA.

In some local jurisdictions, you can be fined hundreds of dollars for having anything dangling from your interior, rear view mirror...including a simple, small chain.

Civil (not Criminal) Asset Forfeiture (CAF) applies even if you're not convicted of whatever "crime" or code violation is involved.  Your assets can be seized in addition to fines imposed, or simply because they "look suspicious".  When you apply to get your property back, it has already been auctioned off...& you get no cash compensation.  This has been going on in the Land of the Free for about 25-30 years.  It started because counties & cities lost huge tax revenue when manufacturing moved South of the border or overseas---Corporatist Globalization.  So, excessive fines & fees AND CAF have been used to raise local revenue.  SCOTUS finally ruled against it.

Apparently, even NeoCon Justices do something ethical once in awhile.

Not only my opinion.  Be Well

The Appalling Gall of the U.S. Government

From beyond the grave, George Orwell must be having a belly-busting laugh.  I wonder if he knew that his writings were so prophetic.

On the News tonight (Sunday, April 22), there was a piece titled "Accidental Americans".  It was about a few folks who had been born decades ago in the USA, and then shortly thereafter, they and their families went back home to (in these cases) France.  By "shortly thereafter", I mean days or a couple of weeks.

Enter the Fed Government's IRS...that's the part of our Gov't to which I'm referring in the title above.  The IRS has decided that income taxes should be levied against not only residents, but anyone born here as well...even if they left as babies, never to reside here again.  So now these adults in France (and probably some other countries) are faced with US Income Taxes on their French incomes.  That makes no sense whatsoever.  I challenge anyone to explain sensibly how that action is justifiable.

The US IRS has a long history of exhibiting very little common sense.  This is another example of that; additionally, the agency too often adopts Gestapo-like tactics in "enforcement" actions.  It also glaringly shows how the Fed Gov't often displays zero respect for an individual's sovereignty.

I suspect that some people, perhaps many, fail to grasp the concept of "sovereignty".  It seems that too many people believe only The State has sovereignty, and that the concept does not apply to individuals.  In an ethical world/society, The State only REPRESENTS the sovereignty of We the People.  It's individuals who possess sovereignty, not governments.  That's why Plutocracies and Oligarchies around the globe constantly are propagandizing their citizens to believe that they live in a "democracy".  The USA is a prime example:  we don't live in a democracy; instead, it's a Plutocracy through and through.  It always has been.  The few politicians in our history who tried to change that were either marginalized or eliminated.

Wake up, Americans--- the Rich & Super-Rich rule us...to their benefit, and our detriment.  Now they're trying to do the same to people who don't even live here, and never have worked here.  Kudos to the lady in France who stated in the News interview:  "I'm not going to pay it [the U.S.-imposed income taxes].".  Why should she?  She never worked here in her whole life!  The gall of the IRS is beyond the pale.

Not only my opinion.  Be Well

The Republican and Democratic March to NeoFeudalism

Here we go again--- the Trickle-Down Theory from the Repubs.  Too bad the Theory doesn't work.  The billions given to the Rich with the proposed Tax Cut will not be spent on generating jobs.  Instead, here's where the money will go:

1.  Corporations will buy back their own stock, thus falsely inflating the value of it.  The Stock Market Bubble continues.

2.  The Rich will invest in foreign currencies and bonds.

3.  They'll invest in real money...silver & gold...the way JP Morgan Chase Bank has done.

4.  They'll invest in other no-job-producing, hard assets... or in Financial Derivatives (the bizarre kind that resulted in the 2008 Crash).

5.  They'll sock it away in offshore tax havens.

6.  They'll spend it merging, downsizing, and moving businesses South or overseas.  The current Tax Bill rewards them for doing that.

Let's wake up to the fact that in this Age of Financialization, Mega Corporations don't need many American workers in order to be successful anymore.  Until the next Crash, they can make a bundle via Asset Bubbles...or loaning "money" to consumers.  [General Motors is more of a GMAC Bank than a vehicle manufacturer.]

Any cuts in Middle Class taxes are temporary, but those for the Rich are permanent.  This is an old story; it's nothing new.

While the Dems at least often do work for a safety net for the People, nevertheless, they (like the Repubs) essentially are supporting a move toward NeoFeudalism...two classes:  the very Rich and the relatively poor.  The advantage the Dems have is that they TALK a good game.  Like the Repubs, they make people think they're on the side of the Middle Class...but they have a better spiel than the Repubs.  Keep in mind, they won the popular vote in the last election... not by 100,000...by 3,000,000.  [Some Repubs, including our Liar-in-Chief, believe that was due to 3,000,000 "illegals" voting.  That's hilarious.  Many American citizens were kept from voting, so the likelihood of such a huge number of non-citizens being able to vote is pretty much ZERO.  Many of Trump's pronouncements remind me of the old Nazi theory on Propaganda---the bigger the Lie, the more people will believe it.]

Unfortunately, no one in the Upper Crust of DC politics is on the side of the hollowed out Middle.  Both Clinton & Obama each were in power for 8 yrs...both became multi-millionaires.  Middle Class wages remained basically flat.  The Rich got richer.  Two major Crashes happened.  The National Security & Surveillance State grew.  Wars did not not abate.  Obama launched a 10-yr program to update our nuclear arsenal.  The National Debt ballooned.  The Rich got richer...& the Middle Class continued to shrink...just like it did during 8 yrs of Dubya.  People like Schumer & Pelosi being touted as "Liberals" is laughable.  People such as McConnell & Ryan being touted as "Conservatives" also is laughable.  As for Trump, he's nothing but an ego-centric, mentally unbalanced opportunist.  They all are Corporatists of the highest order, and in general, none of them are working for us.  The fact that any of them even are in political office is a testament to the power of Edward Bernays style Propaganda. 

Presently, the Middle Class comprises less than 50% (just barely) of our population; the Corporate Media make it appear as though it's 80% or more.  For the last 30 years or so, the greatest transfer of wealth in Human history has continually increased...whether Dems or Repubs were in power in DC.  It didn't matter which Party held the reins... and still doesn't.

Too many Main Street Progressives (just like Main Street Right-Wingers) are stuck in the Repub v. Dem political paradigm.  As long as that continues, the Oligarchs' march toward NeoFeudalism will be the only thing that progresses.  Divide and conquer...they're Masters at it.  Most Americans at the level of Main Street appear to no longer even consider a Middle Way...even though 41-42% of registered voters are Independents.  Only 25% are Repubs, and only 31% are Dems.  It's blatantly obvious that no matter which major Party is in power in DC, the Oligarchs make the Rules.  

Voting won't change that...because 99.99% of national political candidates are selected, groomed, financed by, and beholden to the Oligarchy.  Not only that, but almost all national elections of late turn out to be rigged in some way or another...or in several different ways.  Only peaceful protests/activism, boycotts, and shunning from the outside ever will make a difference.  Forget "working within the Political System" to change it.  That System is totally controlled and/or corrupt.

Not only my opinion.  Be Well

We Deserve Corporatism, and Notes on Fed Income Taxes, & on Banking

Most Americans today appear to know very little History, Geography, American Government, & Logic, and pretty much zero about the Constitution.  Never mind knowledge of how Propaganda works, or anything at all about Corporatism, or the significance of gerrymandering, or how political candidates really are selected.  And worse, they don't see the relevance of any of it to their lives.  They don't care that they don't know.  But most of them know the really important stuff, such as when the new I-Phone will be coming out and whether or not it will be able to fry eggs, or perform some other mundane or silly function.  The whole situation is an utter disgrace...on all of us.

In this country, we deserve the Corporatist Clinton (both of them), the Corporatist Bush (any of them), the Corporatist Obama (the Fake Populist), and the Corporatist Trump (the doubly Fake Populist)... along with Global Private Rule.  We all deserve it all...because we all have let them (the Elites) get away with egregious, rampant Edward Bernays style Propaganda---the molding of the public mind---and with blatant violations of the U.S. Constitution.

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Notes on Fed Income Taxes & on Banking---

In 1946, the Chairman of the New York Fed Reserve, Beardsley Ruml, presented a paper to some auspicious group or another.  The thesis of his paper was this:  the idea of Fed Income Taxes for government revenue is obsolete.  I don't have the time or energy to explain his reasoning, so if you're interested, Google/Bing the topic.

I do have the time for this much.  A good deal of his reasoning was centered on the central planning of monetary issues by the Fed Reserve, and on the changing of the Gold Standard by FDR.  A fairly recent example of Ruml's thesis is as follows.  Between the times when Congress voted down the 2008 Bailout package for the Mega Banks and then fairly quickly afterward approved it (about $700 billion), the Fed Reserve felt it had to do something, so it made TRILLIONS OF DOLLARS available to the Big Boys in the form of loans at essentially zero percent interest.  Not one cent of those trillions was from taxes.  Nor was any of it from government "savings".  [There are no gov't savings; the National Debt is $20 trillion...an amount impossible to repay in full.]  The Fed simply added a bunch of digits to its balance sheet; it created the "money" out of thin air.  That's entirely possible with a fiat currency.

Banks do it every day.  For example, let's say you deposit $100 into your bank account.  Because of the obscenity known as fractional reserve banking, your bank is required to keep only $10 of that $100 on deposit.  It loans out the other $90 to someone else.  So now, you have $100 on your account and the other person has $90.  That's $190 from your $100..."money" created out of thin air.  This is all possible because only 3% of the "money" in circulation is actual paper or coin.  The rest of it is nothing but digits on a computer.  In a nutshell, that is our goofy "money" system.

The point of all this is:  Ruml was correct; Fed taxes (NOT State & Local taxes) are unnecessary for revenue.  That's especially true ever since Nixon took us completely off the Gold Standard in 1971.  The Fed Gov't never will "run out of money"; to get more, all it has to do is add digits to its balance sheet.  Some people counter this argument by saying that the Fed Reserve doesn't just add to its balance sheet; instead, it buys Bonds (T-Bills)...which means the Fed loans "money" to the Gov't.  Yes, it does that...but it doesn't hand over a wad of cash to the U.S. Treasury.  It simply adds digits to its balance sheet.

Without a Gold Standard to restrain spending, any Gov't with a fiat "money" system can "print" (97% of the currency never gets "printed") as much currency as it needs...and anytime it so desires.  Some people counter that argument by saying:  in such a scenario, people would lose confidence in the Dollar.  Hello!  All around the world, that's exactly what's happening right now.

Finally, during the Reagan Era, the Grace Commission did a two-year study and found that 100% of Fed Income Taxes goes toward paying the interest on our National Debt.  Not one cent goes for Gov't services.  And who gets those interest payments?  Primarily they go to Central Banks around the globe, other Mega Banks, and other Mega Corporations...the really Big Bond Holders.

Not only my opinion.  Be Well

The Second Presidential Debate, 2016

Mostly SSDD.

Interrupting each other again, but this time a bit less of that...especially by Clinton.  Both candidates regularly exceeded their response time limits, and did so while talking over the moderators' pleas to stop.  The same amount of personal sniping at each other was present...of little to no interest to us, and completely unprofessional.  A tiny bit more discussion of the issues, but that primarily was due to audience questions.

Here's what was glaringly obvious in this debate:  national politicians are masters at either avoiding the question, or answering in such generalities as to make the answer essentially meaningless.  Both Clinton and Trump did that over and over and over.

So, we had a debate set up by a private corporation (the Commission on Presidential Debates), moderated by reps from mega corporations, with two candidates who are Corporatists.  Oh, for the days of the League of Women Voters running the show.  What we have now is a farce.

Clinton's biggest misstep probably was her handling of the question concerning her leaked, taped statement of awhile back that went something like this (paraphrased):  At times, a politician has to have a public stance and a private stance.  [In other words, politicians have to be two-faced.]  This, of course, is pretty much true; that's one reason politicians are despicable.  Hillary's answer to that question was revealing (paraphrased):  Um...[hem-haw], I believe I was talking about Abraham Lincoln [hem-haw]...um...etc.  She then very quickly changed the subject.  I gauge the probability of that answer being an outright lie at about 90-95%.

Trump's biggest misstep probably was that, except for slashing taxes & eliminating regulations, he rarely ever says HOW he's going to accomplish this, that, or the other.  Slashing taxes and eliminating regs has been tried...more than once.  It didn't work; it only made the rich into the Super-Rich.  The trouble with Trickle-Down economics is that it assumes Big Biz will invest in USA manufacturing, new ventures, new products, etc.---all requiring new employees---instead of investing in foreign currencies, foreign bonds, foreign factories, bizarre financial derivatives, etc., or simply socking the extra money away somewhere offshore...all of which require no employees.

Right after WW II through the 1950's and into the very early 1960's was the greatest period of prosperity ever known in this country.  It was known as the Golden Age of [American] Capitalism.  During that time of tremendous economic expansion, corporations were taxed at a 90% rate.  They now pay (if at all) a 35% rate; Trump wants to lower it to 15%.

As to war, both candidates favor different versions of it.

There was no discussion, or sometimes no significant discussion, about:  the gutting of the Middle Class, the coup of Financialization, the Recession in which we find ourselves, the various economic/financial Bubbles ongoing, Climate Change, the ongoing one trillion dollar Fed Gov't nuclear weapons program, our current Police/Surveillance State, the broken Fed Criminal Justice System, the failed War on Drugs, Crony Capitalism, USA Hegemony, and a few other significant issues.

For the most part, the candidates squabbled about the past, sniped at each other, and had very little to say (except for broad generalities) about the future.  According to the corporate moderators and the Corporatist Trump & Clinton, the most pressing issues facing the country apparently are:  Trump's comments about women, Trump's taxes, Clinton's emails, Bill Clinton's marital affairs, and other such trivia.  Talk about distraction from what's really important...good grief!

Neither one of these candidates should be President of the USA.  Both are shills for Corporatism and the Globalist Oligarchy.

The Kabuki Theater continues...on & on.  Wall Street and the CRONY Capitalists are the Directors.  Carroll Quigley's International Financial Coterie is the Academy.  The Oligarchs already have won the election.  Our best hope for avoiding the fairly imminent NeoFeudalism that's coming and the continued hollowing out of the Middle Class is peaceful, direct action outside the Rotten System...such as boycotting the election, or (if you must) voting for a worthy alternative candidate.  On a massive scale, either of those actions would send a powerful message.  Unfortunately, because of unending Edward Bernays style Propaganda, I don't see either of those things happening this year; but, one always can dream.

Not only my opinion.  Be Well