What would economic justice look like? Such a topic should be widely debated. I believe economic justice for the middle class and poor is one form of economic justice for a large segment of Americans. Congress has invested too much money in war machines, in prosecuting the War on Terror, in subsidizing multi-national, multi-billion dollar conglomerates instead of investing in We The People and our public infrastructure.
The best-kept secret in Washington is the secret in Plain Sight.
To quote Alan Greenspan, former Federal Reserve Chairman from 1987 until 2006, said:
I recommend instituting a UBI-FOR-ALL and federally-backed forgivable home loans.
It’s way past time for our Congress to fund WE THE PEOPLE instead of CREATING MONEY OUT OF THIN AIR ONLY TO GIVE IT ALL DIRECTLY TO GIANT CORPORATIONS, SPECIAL INTERESTS and the Great War Machine. It’s nothing short of obscene how our Congress has traditionally and faithfully subsidized BIG OIL AND GAS COMPANIES, THE BANKING INDUSTRY AND WALL ST. to the tune of trillions of dollars BUT HOW DARE YOU ASK FOR MONEY FOR THE PEOPLE!
In 2008, I didn’t hear anyone worrying about inflation when Obama issued blank checks to Wall St. and the banks!
If Congress doesn’t see the People’s need for guaranteed income and home ownership then we have the wrong Congress.
It’s no coincidence that the warmongers always fund the war machine. But the warmongers OPPOSE funding We The People, the way they shamefully funded F-35 fighter jets for years and years despite MASSIVE cost overruns and the fact the damn plane can’t fly at night or in a storm.
So how do we fund a UBI-FOR-ALL and home loans-for-all?
By Congress exercising Congress’ right to create money out of thin air.
It’s what Congress does and has been doing since the inception of the United States of America.
What About Inflation? Won’t Issuing More Money Devalue Our Dollar?
No. As long as we institute laws proscribing inflationary price increases, we can maintain a good economic equilibrium.
Joe Biden, Mitch McConnell and Donald Trump all share and espouse the notion if our government provided universal basic income-for-all — it will discourage people from working.
Biden, Trump and McConnell all three drink from the Master’s Cup and are very comfortable foisting the old Master-Slave relationship on the working class and poor.
These old guys are so tone-deaf they are not aware or don’t care they are insulting Americans by falsely claiming more income for Americans would stop them from working.
They believe only they alone can handle increased financial gain without sacrificing moral ground. What a bunch of a-holes!
Another criticism is that basic income-for-all would cause massive inflation.
NOTHING COULD BE FURTHER FROM THE TRUTH.
Webster’s Dictionary defines “inflation” as, “…a continuing rise in the general price level usually attributed to an increase in the volume of money and credit relative to available goods and services.”
That’s a highly-processed way of saying greed will drive merchants to raise prices as the greedy overreact to increased consumer purchasing power.
We have a cure for that kind of greed called LAWS.
There’s not one damn reason our Congress cannot pass a bill guaranteeeing a Basic Income-For-All along with federally-backed forgivable home loans, OTHER THAN INSTITUTIONALIZED RACISM/CLASSISM.
America is woke! America is finding out their Congressperson has been lying to them their entire lives, each time a Congressperson claims “there’s not enough money” for whatever it is you want to do. Realizing our government does not operate on a finite amount of money (as a household budget operates) is key to understanding the problem for working class and poor Americans is not IF there’s enough money, but WHO CONTROLS THE MONEY.
FUNDING PROGRAMS-FOR-ALL in the 21st Century:
Congresswoman Rashida Tlaib set forth her recommendation for funding:
c. The mechanics of this funding approach would be as follows:
• The Treasury Secretary would direct the U.S. Mint to issue two $1 trillion platinum coins, under the legal authority provided by 31 U.S.C. § 5112(k).
• Congress would direct the Federal Reserve to purchase the newly issued coins at full face value.
• The Federal Reserve would complete the purchase by crediting the U.S. Mint’s account at the Fed with $2 trillion in reserves.
• The Fed would retain ownership over the two $1 trillion coins permanently in order to ensure its own balance sheet remains fully capitalized by the Treasury.
• The Treasury Secretary would “sweep” the newly created reserve funds from the Mint’s account into the regular Treasury General Account.
• The Treasury would make the funds available to the Bureau of the Fiscal Service to disperse to every person in America in the form of pre-paid U.S. Debit Cards.
d. This approach would preserve the historical separation between fiscal and monetary policy and avoid financial entanglement between the Treasury and the Federal Reserve which would
eventually undermine the independence of the Fed.
In the long term, card infrastructure should be converted into a permanent, Treasury-administered digital public currency wallet system, to serve as a privacy-respecting “eCash” compliment to universal Fed Accounts and/or Postal Bank Accounts for All. This proposal should be accompanied by progressive tax reform to ensure that emergency relief provisioning does not exacerbate income or wealth inequality in the long-term.