Profile image
By Monetary Sovereignty blog
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

There is one thing the GOP is doing right, and they even don’t talk about it.

Monday, March 6, 2017 13:50
% of readers think this story is Fact. Add your two cents.

(Before It's News)

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

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

There is one big thing the Republicans are doing right (no pun intended), and not only don’t they talk about it, some of them may not even realize it:

IRS income tax audits plummet as agency faces budget cuts
Christian Science Monitor, Ben Rosen, March 6, 2017

Americans filing income tax returns this year can worry less about being audited, after the Internal Revenue Service said budget cuts and a reduced staff are to blame for it auditing the fewest number of people in 13 years in 2016.

The lower number of audits the IRS performed in 2016 – down 16 percent from the year – are part of a six-year trend started by Republicans in Congress.

After they took control of the House and Senate in the 2010 elections, Republicans shrunk the agency’s budget from $12.2 billion to $11.2 billion last year, citing the IRS alleged singling out conservative political groups for extra scrutiny when they applied for tax-exempt status in the 2010 and 2012 elections.

The Republicans hate federal taxes, as well they should. Unlike state and local tax dollars, which are recirculated through the economy, federal tax dollars are removed from the money supply the instant they are received.Image result for sucking dollars

By definition, federal taxes (i.e.sucking dollars from the economy) reduce Gross Domestic Product, and that is why federal taxes are recessionary. (GDP=Federal Spending + Non-federal Spending + Net Exports)

So the Republicans are right to cut IRS funding, as a way to reduce tax collections. It makes economic sense.

But the IRS Commissioner, not a part of the controversy, says the cuts are costing the federal government between $4 billion and $8 billion a year in uncollected taxes.

“We are the only agency if you give us more people and money, we give you more money back,” John Koskinen told the AP.

Translation: “If you give us more money, we will remove more dollars from the economy. Give us enough dollars and we will give you a depression.”

In the face of budget of cuts, the IRS lost more than 17,000 employees since 2010, nearly one-fifth of its total staff. This includes the loss of nearly 7,000 enforcement agents.

Losing employees does exacerbate unemployment. But collecting more taxes is really bad for the economy.

Republican lawmakers have defended the IRS cuts, mentioning the alleged mistreatment of conservative groups.

“Go look at all the areas where they’ve wasted money, mismanaged taxpayer resources,” said Rep. Jim Jordan (R) of Ohio. “Not to mention the fact that, you know, one of the reasons we went after them so hard is they did target people for their political views.”

See, it’s like this:

We, the GOP,  tell you that more taxes should be collected (to balance the budget) even though this isn’t true.

But, we’ll overlook what we tell you is good for the economy because we are angry at the IRS. So there!

We cut the IRS budget because they picked on conservatives, even though we want more taxes to “pay for” additional military spending. (O.K., federal taxes don’t pay for anything, but you don’t know that.)

So here is what we plan to do. We’ll cut spending for Social Security and Medicare benefits, because the rich don’t care about those, and we’ve convinced you the federal government is running short of dollars.

We also will cut spending for Medicaid, ACA, and all benefits for the poor, because the rich don’t collect those, either, and again, you think the federal government can run out of its own sovereign currency.

And we’ll cut tax ratesbecause the rich pay the highest rates, and because we know federal taxes don’t pay for anything. (We also will create more loopholes for the rich, because they give us lots of money.)

And you, the public, will go along with all this because we have brainwashed you into believing federal taxes are necessary to fund federal spending, and the rich supposedly are the “makers” while the poor are the “takers.”

If you go along with the GOP’s “reverse Robin Hood” (take from the middle and poor, and give to the rich), you are going to love the next four years.

Rodger Malcolm Mitchell
Monetary Sovereignty

………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..

ECONOMICS LAWS

•Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.

•Any monetarily NON-sovereign government — be it city, county, state or nation — that runs an ongoing trade deficit, eventually will run out of money.

•The more federal budgets are cut and taxes increased, the weaker an economy becomes..

•No nation can tax itself into prosperity, nor grow without money growth.

•Cutting federal deficits to grow the economy is like applying leeches to cure anemia.

•A growing economy requires a growing supply of money (GDP = Federal Spending + Non-federal Spending + Net Exports)

•Deficit spending grows the supply of money

•The limit to federal deficit spending is an inflation that cannot be cured with interest rate control. The limit to non-federal deficit spending is the ability to borrow.

•Until the 99% understand the need for federal deficits, the upper 1% will rule.

•Progressives think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.

•The single most important problem in economics is the Gap between the rich and the rest.

•Austerity is the government’s method for widening the Gap between the rich and the rest.

•Until the 99% understand the need for federal deficits, the upper 1% will rule.

•Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..

MONETARY SOVEREIGNTY



Source: https://mythfighter.com/2017/03/06/there-is-one-thing-the-gop-is-doing-right-and-they-even-dont-talk-about-it/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.