Sicilianthing wrote:
New Poll: Over 68% of Arkansas residents support a Convention of States!
Recent polling conducted by The Trafalgar Group reveal that more than two-thirds (68.2%) of likely Arkansas v**ers support the Convention of States resolution pending in the Arkansas legislature this session, calling for a state-led Article V convention to propose amendments that impose fiscal restraints on the federal government, limit its power and jurisdiction, and set term limits for federal officials.
Arkansas Senator Gary Stubblefield (R-6) is sponsoring the resolution, SJR 3, in the Senate. Support for the measure crosses party lines, as the poll indicates that more than 80% of Republicans, over half of Democrats, and more than 64% of “other” v**ers favor this approach.
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https://conventionofstates.us8.list-manage.com/track/click?u=3a21cd3d06284c105dbd92fee&id=4333ed97c9&e=f6a2935952New Poll: Over 68% of Arkansas residents support a... (
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THIS IS THE ONLY WAY TO PROSPERITY!!
Like the proof of a geometry theorem, the following statements contain only facts and logical conclusions.
You can follow this proof even if you flunked out of geometry!
1. Our Constitution empowers Congress to “…coin Money…” without limit so its spending can exhaust not dollars but only physical resources: fuel, sk**led labor, etc.
2. All payments to the federal government for taxes, bonds, tariffs, etc., are effectively destroyed1 before crediting any account. So, federal income taxes and Treasury bonds cannot fund Congressional spending. To spend, Congress “coins” money!
3. If the IRS does not collect all of Congress’ annual spending, the Treasury borrows the value of the remainder, our Annual Federal Deficit (AFD), adding to federal debt.. The deficit is a necessary addition to the money supply, which grows with the economy.
4. If our annual imports exceed our annual exports, the excess, our Annual Trade Deficit (ATD), a portion of the AFD, exits circulation into foreign bank accounts. Any remaining portion of the AFD is our Annual Domestic Surplus (ADS), which exits circulation into domestic bank accounts. So, AFD = ADS + ATD and ADS = AFD - ATD. To avoid a negative ADS (depleting our savings to buy foreign goods), our annual federal deficit (AFD) must exceed our annual trade deficit (ATD).
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A Constitutional amendment requiring a near-zero average AFD planned over any period would drain our savings into foreign banks, causing inevitable recessions/depressions!
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5. Federal deficit dollars (AFD) exit circulation either to buy foreign goods (ATD) or to be saved for investment (ADS), t***sactions with volume proportional to our prosperity. The more Congress spends, the larger the tax revenue, the deficit, the buying, the saving, and, thus, the prosperity that trumps the larger tax payments! So, Congress should spend until the onset of rising inflation due ONLY to exhaustion of physical resources (fuel, sk**led labor, etc.) which Congress must provide for defense.
6. To avoid rising inflation caused by a shortage of strategic goods (oil, etc.), rationing and price controls may be necessary, as during World War II. The Fed can limit rising inflation caused by excessive bank credit by raising the federal funds interest rate. Maximum building of infrastructure needs maximum Congressional spending, which needs maximum prevention of inflation, which needs maximum taxation of disposable income (but minimum taxation of non-disposable income!), which needs adequate, steeply progressive federal income and estate tax rates.
7. To control our federal debt, the Fed can buy unlimited amounts from the public (or from the Treasury, as proposed by former Fed Chair Ben Bernanke2,) returning 94% of its profit to the Treasury as required by current law. Also, maximum infrastructure spending will keep our economy competitive with other nations and our GDP growing faster than our federal debt3
8. If a corporate dividend were a deductible expense like interest cost, undistributed earnings and dividends could be taxed (once!) like wages. And corporate projects could be financed with equity just as well as with debt, yielding a much stronger economy.
9. Unemployment and extreme poverty can be entirely eliminated by a federal “Job Guarantee” by which Congress would stop current unemployment benefits and, at a minimum wage, hire the jobless, possibly disabled, to assist any government or qualified NPO in jobs they are capable of performing after being trained. The more Congress spends, the more prosperity for us, as explained in paragraph 5 above.
10. Municipal bond funding threatens to bankrupt communities and cripple states that now are forced to rent infrastructure, taxing their residents over twice the cost of construction! But, since a simple pothole can delay a vital shipment, infrastructure is a crucial part of our defense. Uniquely responsible for defense, Congress should pay for all US infrastructure - including potholes! - and eliminate all municipal bond payments. The more Congress spends, the more prosperity for us, etc.
11. Given that (1) our defense industry needs healthy, well-educated workers; (2) all US male citizens and immigrants must register at age 18 for military service; (3) over 75% of applications for military service are now rejected for deficiencies in education and/or health; and (4) all children deserve an equal opportunity to serve in the military; therefore, Congress should provide totally free healthcare and expense-paid education for all, including nurseries, childcare, trade schools, community colleges, and universities at all levels of instruction! The more Congress spends, the more prosperity for us, as explained in paragraph 5 above.
12. As proven by the 25 years of prosperity that followed four huge World War II annual federal deficits resulting in a wartime debt/GDP ratio exceeding 120%, poverty exists mainly because an austere Congress deprives us of needed infrastructure and the prosperity that spending would bring. Rational v**ers will v**e only for candidates who will maximize infrastructure spending. May there be enough rational v**ers!
1
http://www.levyinstitute.org/publications/can-taxes-and-bonds-finance-government-spending2
https://www.brookings.edu/blog/ben-bernanke/2016/04/11/what-tools-does-the-fed-have-left-part-3-helicopter- money/
3
http://www.levyinstitute.org/publications/?docid=1379© 2018 Marvin Sussman All rights reserved. Search YouTube.com for Marvin Sussman !