Archive for the ‘Uncategorized’ Category

MANDATE A LESS THAN 100 WORD RECONCILIATION, CONGRESS CAN NOT REFUSE!

July 30, 2017

MANDATE A LESS THAN 100 WORD RECONCILIATION,
CONGRESS CAN NOT REFUSE!

The problem is…
HIGH COST GROWTH CONTINUES UNABATED..
As Einstein said, “Make it simple”.’Make the “Affordable Care”, simply ‘AFFORDABLE.’
REDUCE the cost of coverage, paperwork, prescriptions, and services.
REVERSE this legislated entitlement for specific companies to compete in political influence using political power for maximizing profit and protecting markets.
Change the direction to one in which companies compete on price, quality and good service.
The Solution: In less than 100 words
Legislate-A standardized ‘FAHCA (2017) Claim Form’.
The use of this form will….
1…Repeal- the ‘insurance’ exception to the Sherman Antitrust Act,Clayton Act, and Federal Trade Commission Act.
2…Repeal- the ban on re-importation of drugs and Medicare bulk negotiating on drugs.
****************
“The Federal Affordable Health Care Act (2017)”
Legislate an addendum – A reconsolidation…
“All participants will be required to use the
‘Federal Affordable Heath Care Act Claim Form’
for all and any services, this contract is a business contract that will be subjected to
all laws regarding interstate commerce and fair trade, specifically The Sherman Antitrust Act,
The Clayton Antitrust Act, and Federal Trade Commission Act.
This act shall:
1…Repeal- the ‘insurance’ exception to the Sherman Antitrust Act,Clayton Act, and Federal Trade Commission Act.
2…Repeal- the ban on re-importation of drugs and Medicare bulk negotiating on drugs.
*****************
SIMPLE PRECISION SURGERY!
One clean stroke that will immediately reduce health care cost and health care premiums.Period.
LET THE PEOPLE KNOW THE NAMES OF THE LEGISLATORS THAT REPRESENT THEM.
AND AT THE SAME TIME THE NAMES OF THOSE WHO DO NOT.

A 2,740 word due examination:
https://bestsolutionsfl.wordpress.com/2017/07/28/healthcare-fix-it-w-simple-precision-surgery/

“Brexit–or BUILDIT” A BORDER WALL !

July 29, 2017

“Brexit”,(read: “Buildit”) to deliver a democratic, accountable, and realistic New Deal ”
“The European Union has sowed the wind. It may reap the whirlwind. Unless it moves, and quickly, not merely to assert a hollow “unity” but to deliver a democratic, accountable, and realistic New Deal – or something very much like it – for all Europeans.” James Galbraith.
https://urpe.wordpress.com/2016/06/25/the-day-after-james-galbraith-on-brexit/

THE “BREXIT” SOLUTION TO DECREASE INEQUALITY GAPS, POVERTY, and NATIONAL DEBT.
ONE SENTENCE -A DEMOCRATIC REPUBLIC CAPITALISTIC ECONOMY WITH A HONEST CENTRAL BANK.
AN HONEST CENTRAL BANK (GUARDIAN) THAT BORROWERS MONEY FROM ITS LAWFUL OWNERS(THE PEOPLE), LENDS IT AND CHARGES A SERVICE FEE (TAX) TO SECURE AN INCOME STREAM TO TURN OVER TO LEGISLATORS TO USE FOR THE BETTERMENT OF ALL.
READ MORE: by Justaluckyfool http://bit.ly/MlQWNs

Justaluckyfool, “..Capitalism is the best system to date devised by mankind. As it is administrated, perhaps, is where the ‘flaw’ is manifested. If capitalism used its Central Bank properly, with honesty, accountability and transparency for the betterment of the common good, with equality and justice for all, capitalism could be one of the greatest achievements of mankind.”

Quote Soddy,
“… money has become the life-blood of
the community, and for each individual a veritable
licenseto live at all. ” SODDY.(The Role of Money. 1936)
… unless and until the barriers that oppose the free and full distribution of wealth from the producer to the
ultimate user and consumer are broken down and the flow of wealth again fulfils the purpose for
which men have striven to create it. Since, in all monetary civilizations, it is money that alone can effect
the exchange of wealth and the continuous flow of goods and services throughout the nation, money has
become the life-blood of the community, and for each individual a veritable license to live at all.”
Free download-“The Role Of Money” by Frederick Soddy
https://archive.org/…/rol…/roleofmoney032861mbp_djvu.txt ;

Email from Positive Money.

Dear Carmen,
There have been three big exciting breakthroughs in the last two weeks, which have been overlooked in all the focus on Brexit*, so we wanted to share the good news.
These breakthroughs involve three of the world’s most powerful central banks: the Bank of England, the US Federal Reserve and the European Central Bank.

1) Bank of England
Screenshot 2016-06-23 09.49.04.pngThe Bank of England has announced that it will be adopting a policy change that Positive Money has been arguing for over the last 2 years.
The BoE will finally allow non-bank ‘payment service providers’ to hold accounts at the Bank of England, so that they can compete with existing banks to provide current (checking) accounts.
This might sound like a minor technical change, but it could lead to a profound shift in the financial system. It will reduce the power of banks and expose them to competition in payment services. The financial technology (fintech) firms can then show that payments accounts can be provided cost-effectively without the power to create money.
It will be then much easier to campaign for stopping banks from creating money completely.
This is a huge step in the right direction and a big win for Positive Money research team and for the campaign! Read more about it here.
And please share this news on facebook and twitter.

2) US Federal Reserve
Screen Shot 2016-06-22 at 10.53.30.png
The Chairwoman of the US Federal Reserve, Janet Yellen, said that they ‘might legitimately consider’ using Public Money Creation.
Public Money Creation, using central bank money to directly finance spending in the real economy, has been taboo for over fifty years.
This is a massive step forward for the campaign as credibility for this idea grows among central bankers. Read more about it here.
Share on facebook and twitter.

3) European Central Bank
QE4P_ECB open letter 2.jpg
A group of 18 Members of the European Parliament have signed an open letter to the President of the ECB, Mario Draghi, calling on the ECB to study the viability and implementation of helicopter money (a type of public money creation).
The letter, which was reported in the Financial Times, encourages the ECB to carry out a full and in-depth analysis of alternative policies to quantitative easing. Read more about it here.
You can help spread this exciting news by sharing this on facebook and twitter.

* What does Brexit mean for monetary reform in the UK? Read here.

Best wishes,

Ben and the rest of the Positive Money team
http://www.positivemoney.org
**********************
https://rwer.wordpress.com/2016/06/25/in-the-wake-of-brexit-will-the-eu-finally-turn-away-from-austerity/

“This bleak economic performance was not dictated by the gods. It was the result of the conscious decision by the EU leadership to turn toward austerity in 2010, long before the economy was close to having recovered. Rather than using fiscal policy to steer economies toward full employment and address needs in infrastructure, clean energy, education and health care, the EU leadership demanded that governments move toward balanced budgets. This meant cutbacks in spending and tax increases that worsened and prolonged the downturn.”

Carmen Basilovecchio (@justaluckyfool) REPLY:
June 25, 2016 at 11:33 pm
“In short, there is no argument against spending more money to both boost growth to create jobs and meet real needs.”
**OMG, Can the Bank Of England do just that ?
“The proper response to the Brexit vote would be for the (NO,NO, read UK…not ) EU leadership to finally embrace reality and adopt an economic policy that will push the continent toward stronger growth and full employment. If it goes this path, the rest of the EU will (delete… not), be anxious to follow the UK’s lead.”
**This could be the first step for the EU toward solidarity with its members…
IF only they understood, Quote SODDY, “… every monetary system must at long last conform, if it is to fulfil its proper role as the distributive mechanism of society.”… unless and until the barriers that oppose the free and full distribution of wealth from the producer to the
ultimate user and consumer are broken down and the flow of wealth again fulfils the purpose for which men have striven to create it. Since, in all monetary civilizations, it is money that alone can effect the exchange of wealth and the continuous
flow of goods and services throughout the nation, money has become the life-blood of
the community, and for each individual a veritable licence to live at all.”
Free download-“The Role Of Money” by Frederick Soddy
https://archive.org/stream/roleofmoney032861mbp/roleofmoney032861mbp_djvu.txt
****************

https://rwer.wordpress.com/2016/06/26/brexit-the-day-we-entered-the-eye-of-the-maelstrom/#comment-109994

Carmen Basilovecchio (@justaluckyfool)
June 26, 2016 at 5:59 pm
Reply

Quote, “In the US, Trump is the analogue “exit” candidate. His rise is the logical outcome of thirty years, during which Republicans used dog-whistle racism and the culture war to smuggle through their neoliberal economic agenda that has wrought the destruction of shared prosperity. Democrats resisted racism and the culture war, but were complicit in the promotion of neoliberalism.

The lesson for the Clinton campaign is it must move beyond rhetoric criticizing neoliberalism and adopt serious remedies that tackle its legacy of inequality, economic insecurity and loss of hope. Neoliberalism is the ultimate cause of the establishment’s rejection. Racism, immigration and nationalism may be the match for the anti-establishment fire: wage stagnation and off-shoring of jobs are the fuel.”
Justaluckyfool asks, “Why would you not embrace your own conclusions ?
“BUILDIT” IS A GREAT MEANS TO FORM A BETTER UNION FOR THE PEOPLE to
.”.. adopt serious remedies that tackle its legacy of inequality, economic insecurity and loss of hope.”

“The proper response to the Brexit vote would be for the EU (read UK ) leadership to finally embrace reality and adopt an economic policy that will push the continent toward stronger growth and full employment. If it goes this path, the rest of the EU could be anxious to follow the UK’s lead.”
**This could be the first step for the EU toward solidarity with its members…
IF only they understood, Quote SODDY, “… every monetary system must at long last conform, if it is to fulfil its proper role as the distributive mechanism of society.”… unless and until the barriers that oppose the free and full distribution of wealth from the producer to the
ultimate user and consumer are broken down and the flow of wealth again fulfils the purpose for which men have striven to create it. Since, in all monetary civilizations, it is money that alone can effect the exchange of wealth and the continuous
flow of goods and services throughout the nation, money has become the life-blood of
the community, and for each individual a veritable licence to live at all.”
Free download-“The Role Of Money” by Frederick Soddy
https://archive.org/stream/roleofmoney032861mbp/roleofmoney032861mbp_djvu.txt

“In short, there is no argument against spending more money to both boost growth to create jobs and meet real needs.”
**OMG, Can the Bank Of England do just that ?
**OMG, Can an HONEST CENTRAL BANK do just that ?

justaluckyfool@aol.com

Healthcare-FIX IT w/ Simple Precision Surgery.

July 28, 2017

PROPOSAL TO FIX “The Affordable Health Care Act”

Different health insurance provides different levels of financial protection and the scope of coverage can vary widely, with more than 40 percent of insured individuals reporting that their plans do not adequately meet their needs as of 2007.[2]
The share of Americans without health insurance has been cut in half since 2013. Many of the reforms instituted by the Affordable Care Act of 2010 were designed to extend health care coverage to those without it; however, high cost growth continues unabated.[3] National health expenditures are projected to grow 4.7% per person per year from 2016–2025. Public healthcare spending was 29% of federal mandated spending in 1990, 35% in 2000, and is projected to be roughly half in 2025.[4]

The problem is…
HIGH COST GROWTH CONTINUES UNABATED..

As Einstein said, “Make it simple”.’Make the “Affordable Care”, simply ‘AFFORDABLE.’
REDUCE the cost of coverage, paperwork, prescriptions, and services.
REVERSE this legislated entitlement for specific companies to compete in political influence using political power for maximizing profit and protecting markets.
Change the direction to one in which companies compete on price, quality and good service.

The Solution:
Legislate-A standardized ‘FAHCA (2017) Claim Form’.
The use of this form will….
1…Repeal- the ‘insurance’ exception to the Sherman Antitrust Act,Clayton Act, and Federal Trade Commission Act.
2…Repeal- the ban on re-importation of drugs and Medicare bulk negotiating on drugs.
****************
“The Federal Affordable Health Care Act (2017)”
Legislate an addendum :
“All participants will be required to use the
‘Federal Affordable Heath Care Act Claim Form’
for all and any services, this contract is a business contract that will be subjected to
all laws regarding interstate commerce and fair trade, specifically The Sherman Antitrust Act,
The Clayton Antitrust Act, and Federal Trade Commission Act.
This act shall:
1…Repeal- the ‘insurance’ exception to the Sherman Antitrust Act,Clayton Act, and Federal Trade Commission Act.
2…Repeal- the ban on re-importation of drugs and Medicare bulk negotiating on drugs.
*****************
SIMPLE PRECISION SURGERY!
One clean stroke that will immediately reduce health care cost and health care premiums.Period.
LET THE PEOPLE KNOW THE NAMES OF THE LEGISLATORS THAT REPRESENT THEM.
AND AT THE SAME TIME THE NAMES OF THOSE WHO DO NOT.

A PEOPLE POWER REVOLUTION:
“This is your day. This is your celebration. And this, the United States of America, is your country. What truly matters is not which party controls our government, but whether our government is controlled by the people. …(A) nation exists to serve its citizens. “(President TRUMP)
“Today’s ceremony, however, has a very special meaning because today we are not merely transferring power from one administration to another or from one party to another, but we are transferring power from Washington, D.C., and giving it back to you, the people.”
Begin today, together- your voices, your power will make America Great Again.
At every meeting, on every corner exercise your right, your duty to your country. Mandate that your representatives ‘Work For You’… ” to form a more perfect Union, establish Justice, ensure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity,…”(Quote from President Trump’s Inaugural Speech (February 28, 2017)

“First they will ignore you,then they ridicule you, then they fight you, and then you win.”(Gandhi’s famous quote)

The greatest challenge to overcome will be slung at you in a million ways, with millions of cries,
“It can’t be done.”,“You will put us in unbearable debt.” “We will no longer be able to sustain our sovereignty.”
Hundreds of millions will be spent to keep the system rigged.
Hundreds of millions will be spent to keep the status quo.
Now the pressure will be placed on you.
YOU MUST STAND FIRM AND STAND WITH YOUR CHOSEN MESSENGER, PRESIDENT TRUMP..
“The COUNTRY is controlled by LAWS. LAWS are controlled by POLITICIANS.
POLITICIANS are controlled by VOTERS. VOTERS are controlled by PUBLIC OPINION.
PUBLIC OPINION is controlled by the MEDIA & EDUCATION,
so whoever controls MEDIA & EDUCATION, controls the COUNTRY.”
( William J. Federer, Change to Chains, The 6,000 Year Quest for Control)

YOU MUST STAND FIRM WITH THE YOUR ELECTED CHOICE.
IT’S YOUR MESSAGE THAT MATTERS. PERIOD.

It is about the future, your children’s, and their children’s future are now in your hands.
No matter what has been said or done you and you alone shall record history; not a political party.
It is the People’s will to govern; not to be governed by political power.
Tell yourself, “This is the moment of truth. I have been pounded and battered by this rigged system;
‘enough is enough’.
Now at this moment I have the power to change this system.”

When Clinton and Obama spoke about “an attack on our basic democracy” did you ever think they could be talking about your own political party as “an attack on our basic democracy”. That your political party would usurp the power of your vote and use it for their own ‘special interest’?

“Since the 2016 election demonstrated the bankruptcy of the professional political classes and led to the election of an upstart outsider, friction between him and the establishment will continue to rock the US polity. Depending on how this relationship fares, and thus on how important it remains for him to secure his working class base for 2020, the distance between Trump’s politics of power and support will widen or narrow.”(http://www.counterpunch.org/2017/02/10/decoding-trump/)
There are but two choices.
1.Continue in this legislated Servitude, or
2. Legislate Prosperity “For the People”.
Divided, We the People shall fail.
United, We the People shall prevail to govern; not be governed.

TRUMP’s PLEDGE to you,
“Every day I wake up determined to deliver a better life for the people all across this nation that have been ignored, neglected and abandoned.” -DJT
” I will outline my full economic plan, which is completely paid for through economic growth and proposed federal budget savings. Together, our tax, trade, regulatory, and energy policies will add trillions in new deficit-lowering growth.
These are the kinds of solutions I want to bring to the White House as your President. It’s time to free ourselves from the baskets that politicians try to put us in, and instead to work together – not as Republicans or Democrats – but as Americans, to achieve real, positive results for the American people. … I call you, hard-working American Patriots who love your country, love your families, and want a better future for all Americans.
It’s time to end the rule of special interests, and to begin the rule of the American people.
It’s time to stop fighting over the smallest words, and to start dreaming about the great adventures that lie ahead.
It is time to Believe In America.
Together, We Will Make Our Country Strong Again.”

We Will Make Our Country Prosperous Again.
And Will Make Our Country Great Again For Everyone!
Thank you!” (President Trump)

Maybe, perhaps as AMERICANS, “IN GOD WE TRUST”
Maybe, perhaps as AMERICANS, “WE THE PEOPLE WILL GOVERN FOR THE BETTERMENT OF ALL.”

—–Original Message—–
justaluckyfool@aol.com Where we went wrong.
How “PEOPLE POWER” was usurped.

***** “Believe nothing merely because you have been told it…But whatsoever, after due examination and analysis, you find to be kind, conducive to the good, the benefit, the welfare of all beings — that doctrine believe and cling to, and take it as your guide.”- Buddha[Gautama Siddharta] (563–483 BC), Hindu Prince, founder of Buddhism.

Health insurance in the United States
From Wikipedia, the free encyclopedia

For details about the number of uninsured persons, see Health insurance coverage in the United States.
Main articles: Health insurance, Insurance in the United States, and Health care in the United States

In the United States, health insurance is any program that helps pay for medical expenses, whether through privately purchased insurance, social insurance or a social welfare program funded by the government.[1] Synonyms for this usage include “health coverage”, “health care coverage” and “health benefits”.
In a more technical sense, the term is used to describe any form of insurance that provides protection against the costs of medical services. This usage includes private insurance and social insurance programs such as Medicare, which pools resources and spreads the financial risk associated with major medical expenses across the entire population to protect everyone, as well as social welfare programs such as Medicaid and the State Children’s Health Insurance Program, which provide assistance to people who cannot afford health coverage.
In addition to medical expense insurance, “health insurance” may also refer to insurance covering disability or long-term nursing or custodial care needs.

FOR DUE EXAMINATION AND ANALYSIS.
* Reduce paperwork cost::
Cutting out the paperwork can save 30 percent on the cost of insurance. According to a May 2016 post by Physicians for a National Health Program:

Per capita, the U.S. spends three times as much for health care as the U.K., whose taxpayer-funded National Health Service provides health care to citizens without additional charges or co-pays. In 2013, U.S. taxpayers footed the bill for 64.3 percent of U.S. health care — about $1.9 trillion. Yet in the U.S. nearly 30 million of our citizens still lack any form of insurance coverage.

* REDUCE PRESCRIPTION DRUGS COST::
The for-profit U.S. health care system is corrupt, dysfunctional and deadly. In Canada, only 1.5 percent of health care costs are devoted to administration of its single-payer system. In the U.S., 31 percent of health care expenditures flow to the private insurance industry. Americans pay far more for prescription drugs. Last year, CNN reported, Americans paid nearly 10 times as much for prescription Nexium as it cost in the Netherlands.

*********
The Medicare Prescription Drug, Improvement, and Modernization Act,[1] also called the Medicare Modernization Act or MMA, is a federal law of the United States, enacted in 2003.[2] It produced the largest overhaul of Medicare in the public health program’s 38-year history.
The MMA’s most touted feature is the introduction of an entitlement benefit for prescription drugs, through tax breaks and subsidies.
In the years since Medicare’s creation in 1965, the role of prescription drugs in patient care has significantly increased. As new and expensive drugs have come into use, patients, particularly senior citizens at whom Medicare was targeted, have found prescriptions harder to afford. The MMA was designed to address this problem.
The benefit is funded in a complex way, reflecting diverse priorities of lobbyists and constituencies.

It provides a subsidy for large employers to discourage them from eliminating private prescription coverage to retired workers (a key AARP goal);
It prohibits the federal government from negotiating discounts with drug companies;
It prevents the government from establishing a formulary, but does not prevent private providers such as HMOs from doing so.
#### At its most basic level, a formulary is a list of medicines.[1] Traditionally, a formulary contained a collection of formulas for the compounding and testing of medication (a resource closer to what would be referred to as a pharmacopoeia today). Today, the main function of a prescription formulary is to specify particular medications that are approved to be prescribed at a particular hospital, in a particular health system, or under a particular health insurance policy. The development of prescription formularies is based on evaluations of efficacy, safety, and cost-effectiveness of drugs.
Depending on the individual formulary, it may also contain additional clinical information, such as side effects, contraindications, and doses.
By the turn of the millennium, 156 countries had national or provincial essential medicines lists and 135 countries had national treatment guidelines and/or formulary manuals.

Legistrative history
According to the New York Times December 17, 2004 editorial W.J.”Billy” Tauzin, the Louisiana Republican who chaired the Energy and Commerce Committee from 2001 until February 4, 2004 was one of the chief architects of the new Medicare law.[6][7] In 2004 when Tauzin was appointed as chief lobbyist for the Pharmaceutical Research and Manufacturers of America (PhRMA), the trade association and lobby group for the drug industry with a “rumored salary of $2 million a year,”[6] drawing criticism from a Washington-based Public Citizen, the consumer advocacy group. They claimed that Tauzin “may have been negotiating for the lobbying job while writing the Medicare legislation.”[7][8]

“It’s a sad commentary on politics in Washington that a member of Congress who pushed through a major piece of legislation benefiting the drug industry, gets the job leading that industry.”
— Public Citizen President Joan Claybrook 2004

House Democratic leader Nancy Pelosi said,[7]

“I think if seniors want to know why the pharmaceutical companies made out so well at their expense, all they have to do is look at this. This is an abuse of power. This is a conflict of interest.”

— House Democratic leader Nancy Pelosi 2004

********************************************************************************** REDUCE PREMIUM COST.
THIS IS “… This is an abuse of power. This is a conflict of interest.”
________________

McCarran–Ferguson Act (category Insurance legislation)
“the business of insurance is not commerce, either intrastate or interstate” and that it “is notinterstate commerce or interstate trade, though it might
14 KB (1,697 words) – 15:08, 16 June 2017

The South-Eastern Underwriters case, however, involved the question whether the business of insurance was “interstate commerce” sufficient to allow Congressional regulation. The Supreme Court in United States v. South-Eastern Underwriters Association, 322 U.S. 533 (1944), 4-3 decision written by Justice Hugo Black, reversed the district court, holding that (1) the Sherman Act intended to cover the alleged acts of monopolization; and (2) that the transaction of insurance across state lines was “commerce among the states” which the Constitution permitted Congress to regulate.
Significance to U.S. health care reform in the 21st century[edit]
One aspect of Republican proposals for healthcare reform in the United States is allowing interstate competition for health insurance, potentially requiring modification of the McCarran–Ferguson Act.[21] In February 2010, the House of Representatives voted 406-19 to repeal the McCarran–Ferguson Act with regard to health insurance.[22]
****IT HAS NEVER SEEN DAYLIGHT SINCE.
Federal regulation of insurance[edit]
Nevertheless, federal regulation has continued to encroach upon the state regulatory system.[16] The idea of an optional federal charter was first raised after a spate of solvency and capacity issues plagued property and casualty insurers in the 1970s. This OFC concept was to establish an elective federal regulatory scheme that insurers could opt into from the traditional state system, somewhat analogous to the dual-charter regulation of banks. Although the optional federal chartering proposal was defeated in the 1970s, it became the precursor for a modern debate over optional federal chartering in the last decade.[20]
In 1979 and the early 1980s the Federal Trade Commission attempted to regulate the insurance industry, but the Senate Commerce Committee voted unanimously to prohibit the FTC’s efforts. President Jimmy Carter attempted to create an “Office of Insurance Analysis” in the Treasury Department, but the idea was abandoned under industry pressure.[21]
Over the past two decades, renewed calls for optional federal regulation of insurance companies have sounded, including the Gramm-Leach-Bliley Act in 1999, the proposed National Insurance Act in 2006 and the Patient Protection and Affordable Care Act (“Obamacare”) in 2010.[16]
In 2010, Congress passed the Dodd–Frank Wall Street Reform and Consumer Protection Act which is touted by some as the most sweeping financial regulation overhaul since the Great Depression. The Dodd-Frank Act has significant implications for the insurance industry. Significantly, Title V of created the Federal Insurance Office (FIO) in the Department of the Treasury. The FIO is authorized to monitor all of the insurance industry and identify any gaps in the state-based regulatory system. The Dodd-Frank Act also establishes the Financial Stability Oversight Council (FSOC), which is charged with monitoring the financial services markets, including the insurance industry, to identify potential risks to the financial stability of the United States.[16][22][23]
***Read more:
EXCERPTS:
“GRIFTOPIA” by Matt Taibbi

Chapter-
‘The Trillion-Dollar Band-Aid.’
Pages 173-206.

“… What the near failure of Obamacare represented … was a colossally depressing truth about the American political system, which is that our government is so dysfunctional that it can no longer even efficiently sell out to the private interests that actually run things in this country.”(P 174-175)
“Obamacare had been designed as a coldly cynical political deal: massive giveaways to Big Pharma in the form of monster subsidies, and an equally lucrative handout to big insurance… customers who would be forced to buy their products at artificially inflated, federally protected prices.”(P 175)
“…with the way the American health system was drawn up. The system is designed to give regional insurers the power to coerce and intimidate customers…
and also to force them to pay inflated rates.
This is thanks to one of the worst pieces of legislation in American history; a monster called the McCarran-Ferguson Act.” (P 181)
… which essentially invalidated… (US Supreme Court decision that insurance companies were subjected to anti trust federal rules and regulations.)
“Thus the insurance industry was given a permanent license to steal. (P 186)

July 4TH, 2017-DAY ONE OF A PEOPLE POWER REVOLUTION. “This is your day…….This is your celebration. And this, the United States of America, is your country. What truly matters is not which party controls our government, but whether our government is controlled by the people. …(A) nation exists to serve its citizens. “(President TRUMP)

June 28, 2017

July 4TH, 2017-DAY ONE OF A PEOPLE POWER REVOLUTION. “This is your day. This is your celebration. And this, the United States of America, is your country. What truly matters is not which party controls our government, but whether our government is controlled by the people. …(A) nation exists to serve its citizens. “(President TRUMP)
Quote from President Trump’s Inaugural Speech (February 28, 2017), “Today’s ceremony, however, has a very special meaning because today we are not merely transferring power from one administration to another or from one party to another, but we are transferring power from Washington, D.C., and giving it back to you, the people.”
Begin today, together- your voices, your power will make America Great Again.
At every meeting, on every corner exercise your right, your duty to your country. Mandate that your representatives “Work For You”. “…(F)orm a more perfect Union, establish Justice, ensure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity,…”

Resolve- Affordable Healthcare!

Vote yes for the (REP’s) Senate Bill before Congress with a (Dem’s)
an addendum that shall do just that…’Affordable Health Care For All’.

Addendum:
All must have coverage.
All will be eligible for Medicare at age 50.
All must pay $20/month to their insurer to be given
to the Medicare insurance pool.

This compromise will make paying for these benefits self-sustaining
($20/month by 250 million people will produce $600 billion/year).
IT IS TIME!

—–Original Message—–
From: justaluckyfool

Sent: Wed, Aug 3, 2016 6:07 pm
Subject: Pledge to fix rigged system

“It’s time to rewrite the rules―to curb the runaway flow of wealth to the top one percent, to restore security and opportunity for the middle class, and to foster stronger growth rooted in broadly shared prosperity.”( Economic Nobel Laureate Joseph Stiglitz)

Inequality gaps are by choice; yet we must preserve an
honest standard of living.

Millions now realize;… the economy is rigged, …the justice system is rigged, …the healthcare system is rigged, …the employment system is rigged. They are all part of an economic system that is really just a rigged political system.Fortunately, this November the voters across America will still have the choice to cast a revolutionary vote to “MAKE AMERICA GREAT AGAIN.”
A simple change in direction of doing something for the common bettering of all the people.

Now we need your PLEDGE !

—–Original Message—–
From: justaluckyfool
Sun, Oct 23, 2016 10:58 am

Now we need your PLEDGE to us.
This change in direction can be done only with your vote.
The U S Constitution has structured this union so that the Chief Executive Officer (The President) is responsible to its Board of Directors (The Congress).
Your vote will be that Pledge!

Now the pressure will be placed on you.
Gandhi’s famous quote: ““First they ignore you, then they ridicule you, then they fight you, and then you win.”

The greatest challenge to overcome will be slung at you in a million ways, with millions of cries,
“It can’t be done.”,“You will put us in unbearable debt.” “We will no longer be able to sustain our sovereignty.”
Hundreds of millions will be spent to keep the system rigged.

Now, the pressure will be placed on you.

YOU MUST STAND FIRM WITH THE PEOPLE OF THIS PARTY, AND WITH THEIR ELECTED CHOICE.
IT’S THE PEOPLE THAT MATTER. PERIOD.

Millions now realize;… the economy is rigged, …the justice system is rigged, …the healthcare system is rigged, …the employment system is rigged.
They are all part of an economic system that is really just a rigged political system.
Fortunately, this November the voters across America will still have the choice to cast a
revolutionary vote to “MAKE AMERICA GREAT AGAIN.”

… Reverse..“… an economic recovery program that has privileged the recovery of financial markets and corporate profits have fueled the increase in wealth inequality, in the United States and across the world.”
Reverse that program, make the money FLOW to “…help form a more perfect Union, establish Justice, ensure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity,…”

Increase (1). Wages,
(2). Disaster Relief,
(3). Jobs
(4). Standard of Living

Decrease (1). Federal Debt,
(2). Poverty,
(3). Inequality Gaps,

DEFEAT……… ISIS,

…Now your PLEDGE will allow the system to be un-rigged. This change in direction can be done only with your vote.

The U S Constitution has structured this union so that the
Chief Executive Officer, CEO (The President) is responsible to its
Board of Directors, BOD (The Congress) and that office together with
his Chief Financial Officer, CFO (The Sect. of Treasury) ca children gather “…to form a more perfect union…”

Your vote will be that Pledge!
Now the pressure will be placed on you.
Let us be mindful of Gandhi’s famous quote:
“First they ignore you, then they ridicule you, then they fight you, and then you win.”

The greatest challenge to over come will be slung at you in a million ways by the “rigged” mass media,
with millions of cries, It can’t be done.”,“You will put us in unbearable debt.” “We will no longer be able to sustain our sovereignty.”
Hundreds of millions will be spent to keep the system rigged.
Hundreds of millions will be spent to keep the status quo.
Now the pressure will be placed on you.
YOU MUST STAND FIRM AND STAND WITH TRUMP.
“The COUNTRY is controlled by LAWS>
LAWS are controlled by POLITICIANS>
POLITICIANS are controlled by VOTERS>
VOTERS are controlled by PUBLIC OPINION>
PUBLIC OPINION is controlled by the MEDIA
(News, Hollywood, Internet…) & EDUCATION
so. whoever controls MEDIA & EDUCATION, controls the COUNTRY.”
( William J. Federer, Change to Chains,
The 6,000 Year Quest for Control -Volume I-Rise of the Republic)

It is about the future, your children’s, and your children’s children.

When you enter that election booth, that time is sacred.
No matter what has been said or done you and you alone shall record history.
Tell yourself, “This is the moment of truth. I have been pounded and battered by this rigged system; ‘enough is enough’. Now at this moment I have the power to change this system.”

We must mandate that the Executive branch and the Legislative branch, Reverse..“… an economic recovery program that has privileged the recovery of financial markets and corporate profits has fueled the increase in wealth inequality, in the United States and across the world.”
Reverse that program, make it fund “…a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity,…”

What the “BIG LIE”, “FAKE NEWS” is all about; why vilify the president day and night ?

June 7, 2017

What the “BIG LIE”, “FAKE NEWS” is all about; why vilify the president day and night ?
Why can’t the mass media understand their creation of the “BIG LIE” and “FAKE NEWS”
is their weapon of choice to vilify President Trump.
President Trump is the elected CEO of the 1st branch of the government (Executive: as of 2017, 1 of 4).
President Trump is not a politician.
President Trump is not ‘paid for’ by the “Special Interest Group”
President Trump is in charge.
LIKE IT OR NOT !

The Congress (2 of 4-2017) needs to legislate.
The Supreme Court (3 of 4-2017) needs to adjudicate.
The “Big Money Interest” (4 of 4-2017) needs to be eliminated.

Please share:
EMAIL.
justaluckyfool@aol.com

Read more:
https://wordpress.com/post/bestsolutionsfl.wordpress.com/575

UPDATED 06/18/2017.
Answer: For ‘Trillion of Dollars’!
Recently revealed Dems will spend more than $48 million on local Rep election
in GA for 1 seat. That’s $48 million in new ad revenue.
There is hope for over $1 Trillion by the 2020 election !
That’s ad revenue that would start with a “T” !

Discussing “Can we avoid another financial crisis?” by STEVE KEEN

May 3, 2017

“Can we avoid another financial crisis?”,STEVE KEEN
Carmen Basilovecchio
a/k/a Justaluckyfool@aol.com says, “NO”.
NO,
if we continue to follow what has been legislated.
This is all part of the “fatal flaw” we have legislated.
One must read…
Frederick Soddy writings, namely “The Role Of Money”
(Entire book as a free download…
http://archive.org/details/roleofmoney032861mbp
PREFACE
This book attempts to clear up the mystery of money in its social aspect. With the monetary system of the whole world in chaos, this mystery has never been so carefully fostered as it is to-day. And this is all the more curious inasmuch as there is not the slightest reason for this mystery.
This book will show what money now is, what it does, and what it should do. From this will emerge the recognition of what has always been the true role of money. The standpoint from
which most books on modern money are written has been reversed. In this book the subject is not treated from the point of view of the bankers as those are called who create by far the greater proportion of money but from that of the PUBLIC, who at present have to give up valuable goods and services to the bankers in return for the money that they have so cleverly created and create. This, surely, is what the public really wants to know about money.
It was recognized in Athens and Sparta ten centuries before the birth of Christ that one of the most vital prerogatives of the State was the sole right to issue money. How curious that
the unique quality of this prerogative is only now being re-discovered. The” money-power ” which has been able to overshadow ostensibly responsible government, is not the power of the merely ultrarich, but is nothing more nor less than a new technique designed to create and destroy money
by adding and withdrawing figures in bank ledgers, without the slightest concern for the interests of the community or the real role that money ought to perform therein.
…(This book) is concerned less with the details of particular schemes of monetary reform that have been advocated than with the general principles to which, in the
author’s opinion, every monetary system must at long last conform, if it is to fulfil its proper role as the distributive mechanism of society. To allow it to become a source of revenue to private issuers is to create, first, a secret and illicit arm of the government and, last, a rival power strong enough ultimately to overthrow all other forms of government.”
It is only a question of ‘when’.

********“Can we avoid another financial crisis?”,STEVE KEEN
Carmen Basilovecchio
a/k/a Justaluckyfool@aol.com says, “YES”.
YES,
ONE SENTENCE -A REPUBLIC DEMOCRATIC CAPITALISTIC ECONOMY WITH A HONEST CENTRAL BANK.
AN HONEST CENTRAL BANK (GUARDIAN) THAT BORROWERS (As per U.S.Constitution) MONEY FROM ITS LAWFUL OWNERS, LENDS IT AND CHARGES A SERVICE FEE TAX) TO SECURE AN INCOME STREAM TO TURN OVER TO CONGRESS TO USE FOR THE BETTERMENT OF ALL.
PBI with AMI with FREDERICK SODDY; combine to create the SOLUTION!!!
1..Create an Honest Central Bank (via Amend The Fed) using PBI’s Public Bank System (51 public banks-50 states plus 1 for D.C.+ territories) combined with AMI’s “Separation of Private For Profit Banks (PFPB) from Government.
2.. Create an Income stream “For The People”, simply by doing what they had been doing for the PFPB (That was to allow the banks to earn a Net Interest Income of over $20 trillion by charging interest on issuance (loans) over the last 20 years).
“Reverse..“… an economic recovery program that has privileged the recovery of financial markets and corporate profits has fueled the increase in wealth inequality, in the United States and across the world.”
Reverse that program, make the money FLOW to “…help form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity,…”
READ TOTAL ARTICLE:(“Where we went wrong, AMI, Public Banking, and Soddy Solution” – https://wordpress.com/post/bestsolutionsfl.wordpress.com/187

Reference-
“Discussing “Can we avoid another financial crisis?”
May 1, 2017Steve Keen
https://rwer.wordpress.com/2017/05/01/discussing-can-we-avoid-another-financial-crisis/

My first book since Debunking Economics has just been released in the UK, and will come out in May in the USA. Can we avoid another financial crisis? is a brief (140 page, 25,000 word) explanation for the lay reader of how the 2008 crisis was caused by factors that mainstream economics ignores—fundamentally, the levels of private debt and credit-based demand—and why other countries that avoided a crisis in 2008 are likely to suffer a similar crisis in the near future.

My argument is based in equal measure on my interpretation and model of Hyman Minsky’s Financial Instability Hypothesis (though my book is equation-free), and my analysis of the role of endogenous money—which I now prefer to call “Bank Originated Money and Debt” or BOMD—in causing both economic booms and slumps. The book relies upon the statistical work of the BIS, which since 2014 has started publishing detailed databases on private debt, government debt, house prices, and recently consumer prices. This has made it possible for me to analyse the debt and credit dynamics of 43 countries to identify which have had a crisis, and which are likely to have one in the future.

There are two new insights developed in the book that are new for people who are otherwise familiar with my analysis: that a realistic macroeconomics can be derived directly from macroeconomics itself; and that a rough guide to whether a country is likely to experience a financial crisis can be derived from the BIS data.

Methodology: derive macro from macro

The mainstream is currently undergoing some soul searching about how their models failed both in the crisis and its aftermath, but as usual is convinced that macro should be derived from micro (Blanchard 2016, p. 3). After outlining the complex systems (Anderson 1972) and Neoclassical own-goal critique of this extrapolation fallacy (Sonnenschein 1973, Mantel 1975, Shafer and Sonnenschein 1993), I show that Minsky’s basic insights can be derived directly from basic macroeconomic identities (the employment rate, the wages share of GDP and the private debt to GDP ratio). I don’t show the math in the book, given that this is a book intended to be read by a lay audience, but it’s available on my new website at http://www.profstevekeen.com/crisis/models/.

The Smoking Gun of Credit

My analysis of the role of credit in aggregate demand and income leads to the proposition that aggregate demand (spent on both goods and assets) is equal to the turnover of existing money plus credit, which is equivalent to the change in private debt (Keen 2015)—see also http://www.profstevekeen.com/crisis/demand/. Since most credit today is used to buy assets rather than goods and services, a rough guide to total monetary demand is given by the sum of GDP plus the annual change in debt (there is double counting of the order of 15% of GDP, but it is still a good guide).

This leads to a chart I describes as “the Smoking Gun of Credit”, which shows how a sharp decline in the rate of growth of private debt when a country’s private debt to GDP ratio is around 150% of GDP is sufficient to cause a serious decline in aggregate demand, income and capital gains.

Figure 1: USA

Figure 2: China

The chart explains why the USA had a crisis in 2008 (Figure 1), but countries like China did not (Figure 2): the former suffered a substantial fall in credit-based demand with that demand turning negative for the first time since the Great Depression. China—and several other countries that apparently evaded the worst of the crisis in 2008—managed to stop credit demand from plunging.

But the price of them doing so was an explosion in China’s private debt to GDP ratio, from under 120% of GDP at the time of the GFC to almost 220% as of Q3 2016. The USA, on the other hand, delevered slightly—from 170% to a low of 146%–but is now levering up again.

Figure 3: Comparing China to USA private debt levels

The USA had a crisis in 2008 and is now suffering from “Credit Stagnation” (not “Secular Stagnation”), because with private debt once again exceeding 150% of GDP, it is already in the range where a slowdown in debt growth can cause a recession (see pages 81-83 of the book), and only fractionally below its peak level of private debt).

On the other hand, China’s evasion of the crisis has given it a staggeringly higher debt level, and a dependence on continued demand from credit (the annual change in debt) which is now running at over 25% of GDP. This can’t be sustained (though China can do more than most to switch from credit to government based demand), and China, though by far the largest, is only one of 9-16 countries which evaded the crisis by increased private debt, and now have the pre-requisites for a future crisis of excessive private debt (greater than 150% of GDP) and dependence on unsustainable credit-based demand (exceeding 10% of GDP).

This leads to a natural classification of countries into either the “Walking Dead of Debt” (USA, Europe, UK) or “Zombies to be” (China, Canada, Australia, Korea, Belgium and several others; there are very few that aren’t in one camp or the other—Germany being the notable exception). When these countries’ credit bubbles burst, the global economy will be trapped in not Secular but “Credit Stagnation”.

Finally, I argue for a “Modern Debt Jubilee” as an effective policy to end the crisis, if matched by necessary reforms of bank lending to prevent a future recurrence. Since I believe these policies have a snowflake’s chance in hell of being implemented, my conclusion about the economic future for the planet is rather cynical.

In other news, I have just launched a crowdfunding campaign on Patreon (see https://www.patreon.com/ProfSteveKeen) to enable me to continue my work as a public intellectual.

I see myself as the canary in the coal mine here. Just as non-mainstream, and in particular Post Keynesian economics, is being institutionally recognised (McLeay, Radia et al. 2014) and Neoclassicals are admitting flaws in their paradigm (Blanchard 2016, Kocherlakota 2016, Romer 2016), Neoliberal economic policies applied to Universities in the UK are unwittingly destroying the one toehold that we have in academia—low ranked universities—in a three pronged pincer movement.

The first stage was the introduction of the “Research Excellence Framework” (REF), which focused applications for economics research classification only at the top status universities, where heterodox economics is shunned.

The second was undermining the viability of low status universities via the removal of caps on first year student intakes. High status universities have simply offered more cheap-to-teach humanities vacancies, and high school students, who are utterly uninformed “consumers” of the product called “university”, have taken up these positions.

The third, which may commence next year, is the ranking entire universities as “Gold, Silver or Bronze” teaching institutions in what is known as the “Teaching Excellence Framework” or TEF (the UK seems obsessed with TLAs: “Three Letter Acronyms”). This will surely mean that universities where pluralism is practiced in their economics departments will be ranked as “Bronze” teaching institutions, while high status institutions where the orthodoxy dominates economics tuition will be ranked Silver or Gold.

All these challenges to the viability of low status UK universities has meant that it’s no longer possible for Kingston University to support me in my public role. It’s either take on a full teaching load at Kingston—roughly four times what I’m doing right now—or fund three quarters of my salary. I’ve taken the latter option, and am currently up to US$2800 a month.

Please spread the word about my Patreon campaign. What I’m doing is not a viable option for all heterodox economists of course, but it will give me a public and political platform to challenge both mainstream economics and the deluded Neoliberal approach to university education and research funding.

END OF ARTICLE.

Hey, whoever wrote “Trump’s” tax “plan” may be on to something.

April 29, 2017

“we should cut taxes, increase spending, and cut the debt, but you figure out how.”
*****

***** “Believe nothing merely because you have been told it…But whatsoever, after due examination and analysis,you find to be kind, conducive to the good, the benefit,the welfare of all beings – that doctrine believe and cling to,and take it as your guide.”- Buddha[Gautama Siddharta] (563 – 483 BC), Hindu Prince, founder of Buddhism
******* “”We cannot solve our problems with the same thinking we used when we created them”.Albert Einstein.

“It’s time to rewrite the rules―to curb the runaway flow of wealth to the top one percent, to restore security and opportunity for the middle class, and to foster stronger growth rooted in broadly shared prosperity.”( Economic Nobel Laureate Joseph Stiglitz)
Increase……. Wages, Jobs, the Standard of Living.
Decrease…… National Debt, Poverty, Inequality Gaps.
Yes, IT IS TIME TO MAKE AMERICA GREAT AGAIN.

https://bestsolutionsfl.wordpress.com/2017/03/14/rewrite-the-rules-reverse-the-money-flow-i-p-r-a-p-t-i-r-p-a/

#Monetary Sovereignty - Mitchell

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

…………………………………………………………………………………………………………………………………………………………………………..
It takes only two things to keep people in chains: The ignorance of the oppressedand the treachery of their leaders..
………………………………………………………………………………………………………………………………………………………………………………

O.K., so it actually isn’t a “plan.” It’s a simplistic, one page, double-spaced, little note that purports to guide a replacement for our gigantic tax code. It is a little paper that essentially says “we should cut taxes, increase spending, and cut the debt, but you figure out how.”

It reminds one of the double-spaced, “print-in-large-letters” response that we pre-computer high schoolers created, when our teacher gave us the assignment to write about some subject, and we tried to stretch our ignorance over the greatest number of pages.

But at least, we wrote several pages; Trump delivered only one page. And it isn’t actually Trump’s; he had people to write it for him.

But what else could we expect…

View original post 2,213 more words

Beware-Media Lies & Fake News.

April 24, 2017

Beware-Media Lies & Fake News.Republicans control Congress. Pres. Trump is a Republican.Once you submit to the premises, you submit to everything else-You are victimized.
Read more…’Taboos and propaganda’ by elizabethharris001
“Once you submit to the premises, you submit to everything else. Once you get your vocabulary and all your information from the corporate media outlets, you support the media lies, no matter how much you claim not to.
Therefore it is useless to begin from a stance of “Yes, but…”
“Yes,… (The combined premises being true)… but…”
Right away you lose the entire argument, since you have conceded all your opponent’s premises and buzzwords. You figured the “Yes, but…” approach would be persuasive. You thought you would score points by conceding the fundamental lies, and by spinning the lies in a different way. You were wrong.
In politics the most crucial part of any lie is its premise and its vocabulary.”

why-a-global-disaster-that-could-easily-have-been-prevented-took-place/

April 18, 2017

why-a-global-disaster-that-could-easily-have-been-prevented-took-place/
April 18, 2017
https://rwer.wordpress.com/2017/04/18/why-a-global-disaster-that-could-easily-have-been-prevented-took-place/#comment-118465

A simple new paradigm, by Frederick Soddy(1936):
“Money now is the NOTHING you get for SOMETHING
before you can get ANYTHING.”
‘SOMETHING’ must be given up to acquire the ‘NOTHING’
in order to get ‘ANYTHING’.
Money is a receipt for SOMETHING.
Money can not create SOMETHING.
This is what money is.
Money created by other means is ‘fictitious’, counterfeit.
” All smoke and mirrors.” All designed with ONE intention: ‘ To Hide The Issuers Alchemy ‘. It does not matter how the ‘money’ is coined, printed, or digitized – It is not wealth; it is a receipt
of SOMETHING given up. The value of the receipt is the transfer of the SOMETHING given up. When one understands this basic universal law, they will know of this deceit.”(Frederick Soddy)

Why a global disaster that could easily have been prevented took place.
by Edward Fullbrook
from Edward Fullbrook Steve Keen has a new book out: Can we avoid another financial crisis? Keen, as you probably know, was one of those economists – Nouriel Roubini, Dean Baker, Ann Pettifor, Michael Hudson, Wynne Godley and others – who warned well in advance that the Global Financial Crash was coming if preventive measures […]

Read more of this post https://rwer.wordpress.com/2017/04/18/why-a-global-disaster-that-could-easily-have-been-prevented-took-place/

Solution to Inequality: Federal Income Taxation- “I.R.A.P.”

April 11, 2017

Carmen Basilovecchio
Apr 8
An Answer for”Of Dollars And Data”
Equality and Justice For All: Do Any Solutions Exist?
Rewrite the Rules.Reverse the Money Flow. (I.P.R.A.P.)
March 14, 2017
***** “Believe nothing merely because you have been told it…But whatsoever, after due examination and analysis, you find to be kind, conducive to the good, the benefit, the welfare of all beings — that doctrine believe and cling to, and take it as your guide.”- Buddha[Gautama Siddharta] (563–483 BC), Hindu Prince, founder of Buddhism
******* “”We cannot solve our problems with the same thinking we used when we created them”.Albert Einstein
“It’s time to rewrite the rules―to curb the runaway flow of wealth to the top one percent, to restore security and opportunity for the middle class, and to foster stronger growth rooted in broadly shared prosperity.”( Economic Nobel Laureate Joseph Stiglitz)
Increase……. Wages, Jobs, the Standard of Living.
Decrease…… National Debt, Poverty, Inequality Gaps.
Yes, IT IS TIME TO MAKE AMERICA GREAT AGAIN.
A HISTORIC CHANGE For The Betterment of The People.
Allow everyone to achieve “The American Dream” and to retain their “Fair Share”
Yes,”It’s a very exciting time for America.
Your voices represent a bright new future for our great nation full of more opportunities for everyone, not just a select few.
Together, we have created a movement that continues to gain momentum.
Together, we are making history. Together, we are bringing back the American Dream.
The time is now, Together, we will Make America Great Again!”
The U S Constitution has structured this union
so that the Chief Executive Officer, CEO (The President)
is responsible to its Board of Directors, BOD (The Congress)
and with its Chief Compliance Office, CCO (The U.S. Supreme Court)
shall work together “…to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity,…”
WE MUST FOLLOW THE MONEY FLOW !
As Nobel Laureate Frederick Soddy stated, “Money now is a license to live.”
“Since, in all monetary civilizations, it is money that alone can effect the exchange of wealth and the continuous flow of goods and services throughout the nation, money has become the lifeblood of the community, and for each individual a veritable license to live at all…”(The Role Of Money.)
It is time to claim “Your FAIR SHARE of the American Dream.”
Make the money flow for the betterment “Of The People,” a reversal, a change “For The People.”
THIS FLOW WILL BE GENDER NEUTRAL, RACE NEUTRAL AND BASED ONLY on the fulfillment for LIFE, LIBERTY AND THE PURSUIT OF HAPPINESS.
Now is the time to create the laws that would allow this change in direction.
Help to decrease the gaps of inequality, help decrease the numbers of those
in the grip of poverty, help raise the standard of living; all at the same time…
WE MUST REVERSE THE DIRECTION OF THE PRESENT FLOW !
“Trickle Down” now doesn’t work.
Yes, OCCUPY, Yes, Pope Francis, the “Trickle Down” system doesn’t work.
It doesn’t work because the establishment impedes the flow.
REPEAT: It doesn’t work because the establishment impedes the flow.
This must change.
We must remove these impediments and create a flow of wealth directly to the “PEOPLE.”
The system is meant to “reward all”, to allow all “Their Fair Share”.
Millions now realize;… the economy is rigged, …the justice system is rigged, …the health care system is rigged, …the employment system is rigged.
All part of an economic system that is really just a rigged political system.
Fortunately, this past November the voters across America have made the choice to cast a revolutionary vote to “MAKE AMERICA GREAT AGAIN.”
SEVENTY percent of the people believe the American economy is rigged. And they’re right.
EIGHTY percent of the people desire a change, a revolution. And they’re right.
History has allowed an opportunity for “AMERICA TO MAKE ITSELF GREAT AGAIN.”
We must mandate a reversal of “… an economic recovery program that has… fueled the increase in wealth inequality…”
Reverse that program, make the money FLOW to “…help form a more perfect Union,
establish Justice, insure domestic Tranquility, provide for the common defense, promote
the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity…”
“Yes, We Can Lower Taxes, Pay Off The Debt, And At The Same Time Increase Revenue.”
IMMEDIATE STEP:

“INEQUALITY and POVERTY REDUCTION ADJUSTMENT PROGRAM”
( I.P.R.A.P. )

Capitalism demands inequality as a just proportional reward.
It is the size of the “Gaps” where the administration of inequality becomes distorted.
The size of the ‘Gaps’ is a demand of the administration of the quality and quantity of these ‘gaps’.
Taxation is a ways and means by which a government controls the quality and quantity of its currency already in circulation.
Currency that it can redistribute without changing the quality or quantity of the entire currency.
American Capitalism should allow everyone to achieve
‘The American Dream’ and to retain that “Fair Share.”
But that dream should not impede the poor and elderly from achieving their FAIR SHARE.
Nor should it impede the risk and reward which will ultimately lead to a betterment for all.
A federal taxation of personal income must recognize the sanctity of “The fruits of mankind’s labor”
A federal taxation of personal income should be used to control the distribution of income to obtain
a fair and just sharing of the American Dream, a just and fair sharing of the world’s riches while
maintaining the greatest standard of living.
“Inequality and Poverty Reduction Adjustment Program” ( I.P.R.A.P. )
“THE NEW ONE PAGE: Federal Personal Income Tax: 2017”
Brackets & Rates for Joint filers with:
GROUP ONE- income less than $100,000:
GROUP TWO- income more than $100,000 but less than $225,000:
GROUP THREE-income more than $225,000:
*Brackets for single filers are ½ of these amounts.
ALL income is taxable and must be reported.
All income is to be taxed at the same rate-30%.
NO exemptions. NO loopholes.Period.
Deductions:
This plan will increase the standard deduction for joint filers to $80,000,
and the standard deduction for single filers will be $40,000.
Taxes must be paid, any claim of injustice may be filed for a proportional refund, if approved, it shall become a tax credit in the next year.
***The Tax Group One:
A… will receive a 8% distribution to replace their losses caused by sales taxes which are a detriment to their ‘standard of living’. This 8% will also replace any Social Security loss.The rebate will help grow our economy as well as allow wage earners to keep their share of the American Dream and raise the standard of living.
Refundable Tax credits that become ‘overages’ will become an immediate cash refund.
B… will receive a ‘take home’ pay increase.There will be no FICA payment taken out of their pay.This is at ZERO cost to production (The minimum wage concept would cost jobs as well as increase production cost). This merely places what was earned into their paycheck; it is the F.I.C.A. that was withheld from them; now going directly into their take home pay.
C… VETERANS WHO SERVED; DESERVE a direct lifetime annual refundable tax credit of $3,000.
( I.P.R.A.P. ) will create a direct increase in wages, an increase in Social Security, a direct increase
in income to more than 80% “of the people.” and it will be done “along with a
reduction in National Debt.”
We must mandate that the Executive branch and the Legislative branch,
Reverse an economic privileged program that has lead to increases in wealth inequality.
Reverse that program, make the money FLOW to “…help form a more perfect Union, establish Justice,
insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure
the Blessings of Liberty to ourselves and our Posterity…”

“Inequality and Justice For All”…FULL TEXT:
(https://ofdollarsanddata.com/inequality-and-justice-for-all-the-future-of-economic-outcomes-in-the-u-s-5b60e051be4d)
The Future of Economic Outcomes in the U.S.
This week I want to discuss what I believe will be the most important economic issue in the coming decades: income and wealth inequality.
However, before I dive into this, I want to emphasize that inequality by itself is not necessarily a bad thing. In the U.S. most people support some level of inequality to reward those who work hard, take financial risks (i.e. starting a business), or get lucky. This is true as long as there is equality of opportunity (i.e. everyone starts at the same place). The problem is that everyone does not start at the same place though we would like to think they do. Putting this aside, the big question is: should we have a mechanism in place to prevent extreme levels of inequality, even if everyone does start off equally?
If you haven’t read or heard much on income/wealth inequality, I highly recommend watching this video to understand how unequal wealth has gotten within the U.S. If you don’t have time for the video, this chart will do (from this article):

As you can see that the top 1% has seen a huge increase in the share of national income while the bottom 50% have seen a decrease in their share. However, this is for total income. If we were to look at specific kinds of income and assets in the U.S. more generally, we would see a clearer picture of what is driving inequality. Using the Survey of Consumer Finances data I looked at the inequality across households for various financial metrics (i.e. Net Worth, Assets, Dividend Income, etc.). I found that though income inequality is getting worse, financial assets exhibit far more inequality:

The y-axis here is an inequality measure (a Gini coefficient calculated using the household weights from the Survey of Consumer Finances). As you can see, income from financial assets exhibits far more inequality than traditional wage income. This data aligns with a Bloomberg article that discusses some of the main drivers of recent inequality including: an increased share of capital income compared to labor income and rising concentrations of capital.
Essentially, technological changes have given the owners of capital a bigger share of the gains than the individuals using that capital. This is why business owners are getting rich while employees are not, though employees are far more productive than they used to be (see my article on productivity here). One solution is to get more individuals to have more ownership of capital (i.e. businesses, stocks, etc.), which is easier said than done.
So inequality is increasing, but what’s the big deal? Simply: large enough relative differences in income/wealth can lead to civil unrest. Yes I am talking about “grabbing the pitchforks” among other things. You might think I am crazy for suggesting this as a possibility, then what do you think about the Silicon Valley elite who have already started preparing for this scenario? I think as a nation we need to realize that even with equality of opportunity, we need to have some mechanism in place to prevent extreme levels of inequality if current trends continue. The Giving Pledge which has the support of many top billionaires is a start, but I don’t think this will be enough, especially with the current tax proposals being considered in Washington.
Equality and Justice For All: Do Any Solutions Exist?
Given where we are today, do any solutions exist to slow or reverse rising inequality? One possibility, which almost never discussed by the media/politicians, is raising the capital gains tax. One study attributed most of the changes in inequality to lowered capital gains taxes in recent decades.
The counter argument against increased capital gains taxes is that they lower incentives for investment and harm economic growth. However, there seems to be no empirical evidence of this. In a testimony by Leonard E. Burman in 2012, Burman found that there was no significant correlation between the capital gains tax and economic growth in the U.S:

Now, even if we increased the capital gains tax, this does not address how to increase the income/wealth of lower classes. Capital gains is a way to slow the rich down, but it won’t necessarily speed up the poor. For this reason I don’t like this solution that much.
A better solution that also addresses the imbalance in financial asset ownership was proposed in a book by Jerry Kaplan. The idea is to set a company’s corporate tax rate based upon the number of people that would benefit from ownership. Therefore, those companies that have wider distribution of ownership would be taxed less than companies with concentrated ownership. This would provide an advantage in the marketplace to those companies that are owned most equitably by the most number of people. I personally think it is a fantastic idea in theory, though it may be difficult in practice and can likely be gamed.
One final caveat on this discussion is that inequality is not static. The people in the top 1% percent of income in one year are not all the same people in the next year. There is some level of income mobility in the U.S. as this New York Times article discusses how “12 percent of of the population will find themselves in the top 1 percent of the income distribution for at least one year” and “56 percent will find themselves in the top 10 percent.”
I hope you enjoyed thinking about some of these issues as I am unsure myself on how we can solve them. Please comment if you have any thoughts on this, I would love to hear them. I don’t know what the future holds, but I hope it isn’t pitch forks.
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This is post 10. Any and all code I have related to this post can be found here with the same numbering: https://github.com/nmaggiulli/of-dollars-and-data
Disclaimer
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice. The postings on this site are my own and do not necessarily reflect the views of my employer.
EconomicsInequality

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