–How one of the best bills in history — H.R. 676, Medicare for All — is spoiled

Uncategorized cut FICA, income gap, leave the euro, MMT, modern monetary theory, monetarily non-sovereign, monetarily sovereign, monetary non-sovereignty, monetary sovereignty Rodger Malcolm Mitchell 4:02 pm

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Mitchell’s laws:

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

●Austerity is the government’s method for widening the gap between rich and poor, which ultimately leads to civil disorder.

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

●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.

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

●The penalty for ignorance is slavery.

●Everything in economics devolves to motive.

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If you were to select the one best measure of a nation’s greatness, you would be hard pressed to find one better than health care of its people.

Look around the world, and you will see the “best” nations providing the best health care and the “worst” nations providing the worst health care.

The U.S. Declaration of Independence says, “. . . [all men] are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.” Surely, good health is part of that trio.

Because private healthcare insurers do not provide affordable coverage to the broad populace, Medicare and Medicaid were great improvements. But the problem of significant uninsured and underinsured remains.

For a nation that views itself as the world’s leader in most things, this is unacceptable.

Obamacare, nee Romneycare, was an attempt to include more people, but it is a complex, convoluted, inefficient program no one fully understands. Both those who favor it, and those who disfavor it, do so out of ignorance.

For years, I have favored providing full Medicare for everyone — a Medicare coverage so complete that neither Medicaid nor supplemental policies would be necessary.

And such a bill exists — almost. It is H.R. 676, Medicare for All :

“To provide for comprehensive health insurance coverage for all United States residents, improved health care delivery, and for other purposes.”

Some features of the bill:

All individuals residing in the United States (including any territory of the United States) are covered under the Medicare For All Program entitling them to a universal, best quality standard of care The health care benefits under this Act cover all medically necessary services, including at least the following:

(1) Primary care and prevention.

(2) Approved dietary and nutritional therapies.

(3) Inpatient care.

(4) Outpatient care.

(5) Emergency care.

(6) Prescription drugs.

(7) Durable medical equipment.

(8) Long-term care.

(9) Palliative care.

(10) Mental health services.

(11) The full scope of dental services, services, including periodontics, oral surgery, and endodontics, but not including cosmetic dentistry.

(12) Substance abuse treatment services.

(13) Chiropractic services, not including electrical stimulation.

(14) Basic vision care and vision correction (other than laser vision correction for cosmetic purposes).

(15) Hearing services, including coverage of hearing aids.

(16) Podiatric care. No deductibles, copayments, coinsurance, or other cost-sharing shall be imposed with respect to covered benefits. The Program shall pay physicians, dentists, doctors of osteopathy, pharmacists, psychologists, chiropractors, doctors of optometry, nurse practitioners, nurse midwives, physicians’ assistants, and other advanced practice clinicians.

Medicare for All not only would cover everyone, but by eliminating deductibles, co-payments and coinsurance, it eliminates the need to shop around for additional coverages, or even to worry about which form of Medicare to acquire.

Simple, complete healthcare coverage for all of America — exactly what the greatest nation on earth should provide.

So what’s the problem? I can imagine a couple, easily addressed, problems:

Government bureaucrats, not doctors, would make life-or-death decisions about coverages.

As with every health insurance policy, public or private, bureaucrats advised by the medical community, make coverage decisions. Medicare already does that, as does Blue Cross et al. But with no limits, deductibles or co-payments, Medicare for All would be far more generous than any private insurance — and of course, cost-free.

Private health insurance companies would be put out of business and their employees would lose their jobs.

True. Medicare for All is far more efficient, requiring far fewer employees, than the patchwork of private and public insurance options now available. Some people would find jobs in Medicare for All. Most would not. It essentially is what happens when any more efficient system is put in place, whether in private industry or public.

Who would pay for Medicare for All?

And here is where H.R.676 falls apart, for it says that funding would come from:

Funding:

(A) Existing sources of Federal Government revenues for health care.

(B) Increasing personal income taxes on the top 5 percent income earners.

(C) Instituting a modest and progressive excise tax on payroll and self-employment income.

(D) Instituting a modest tax on unearned income.

(E) Instituting a small tax on stock and bond transactions.

The authors of H.R.676 make the tacit (and wrong) assumption that federal taxes pay for federal spending. They do not accept or understand the fact that a Monetarily Sovereign government creates its sovereign currency by spending.

Whenever our Monetarily Sovereign government pays a bill, it merely instructs its creditor’s bank to increase the numbers in the creditor’s checking account. That is how dollars are created.

Unlike state and local taxes, federal taxes are destroyed. Upon receipt; federal taxes no longer are part of the money supply. They pay for nothing, because they cease to exist in the economy. Dollars exist only outside the federal government.

In reducing the money supply, all federal taxes are recessionary. Medicare for All should be funded by federal deficit spending. The populace would receive a double benefit: Better health care and the economic stimulus of federal spending.

In summary, H.R. 676, Medicare for All, is a great concept. It need not, and should not, be associated with tax increases. The federal government simply should pay for it.

Our current Medicare, Medicaid, Obamacare state exchanges are the most inefficient, cockamamie approach to health care insurance ever dreamed up in a bureaucratic nightmare.

Medicare for all solves those problems. It would require no state participation, no proof of eligibility, be completely portable, massively reduce employer expenses, cost Americans nothing and provide everyone, rich or poor, with the best available health care.

Why then haven’t Congress and the President jumped aboard? Two reasons:

The rich in total, and the health insurance companies in particular, spread bribe money to maintain the current, inefficient, unfair system. Medicare for All would close the gap between rich and poor — something the rich do not want.

So, I urge you to read the bill and it’s simple explanations at: H.R. 676, Medicare for All, then contact your Congressperson and demand Medicare for All, fully funded by the federal government.

It’s the best thing you can do for our nation.

Rodger Malcolm Mitchell

Monetary Sovereignty

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Ten Steps to Prosperity:

1. Eliminate FICA ( Click here )

2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone ( Click here )

3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. ( Click here ) Or institute a reverse income tax .

4. Free education (including post-grad) for everyone. Click here

5. Salary for attending school ( Click here )

6. Eliminate corporate taxes ( Click here )

7. Increase the standard income tax deduction annually

8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. ( Click here )

9. Federal ownership of all banks ( Click here and here )

10. Increase federal spending on the myriad initiatives that benefit America’s 99% ( Click here )

The Ten Steps will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.

10 Steps to Economic Misery: (Click here:)

1. Maintain or increase the FICA tax..

2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.

3. Cut federal employment in the military, post office, other federal agencies.

4. Broaden the income tax base so more lower income people will pay.

5. Cut financial assistance to the states.

6. Spread the myth federal taxes pay for federal spending.

7. Allow banks to trade for their own accounts; save them when their investments go sour.

8. Never prosecute any banker for criminal activity.

9. Nominate arch conservatives to the Supreme Court.

10. Reduce the federal deficit and debt



No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.

Two key equations in economics:

1. Federal Deficits – Net Imports = Net Private Savings

2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports

#MONETARY SOVEREIGNTY

