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The American System

Mar 2020

March 10, 2020

March 11, 2020

Trump Floats Insidious Plan To Loot Social Security And Medicare To Shore Up His Own Sagging Political Fortunes; Cutting Social Security Payroll Tax (FICA) Until End Of 2020 Would Accelerate Insolvency Of Social Safety Net, Triggering Crisis Before 2026 For Medicare And Before 2035 For Social Security; Currently, FICA Takes 6.2% Of Total Pay For Social Security And 1.45% For Medicare, Plus 0.9% Medicare Surtax For Incomes Over $200,000; Employers’ Share Of FICA Is 6.2% Of Pay And 1.45% For Medicare; 

Pelosi, Schumer, Biden, And All Democratic Leaders Must Immediately Condemn And Repudiate Any Tampering With Payroll Tax; Any Consideration Of Payroll Tax Cut Will Bring The Foul Stench Of Austerity Upon The Party, Redounding Only To Trump’s Benefit!

Instead, Congress Must And Implement A $55 Trigger Price Tariff On Oil To Protect Domestic Producers; Nation Needs A Modern Equivalent Of The 1934 Frazier-Lemke Farm Bankruptcy Act To Secure A Debt Moratorium And Halt Foreclosures And Repossessions For Farms And Productive Businesses For The Duration Of This Emergency; Restore Cuts And Enhance Food Stamps (SNAP) And Extend Jobless Benefits To 99 Weeks; Sabotage By GOP Will Seal That Party’s Demise; Set Up New Reconstruction Finance Corporation To Maintain Production And Public Health Services With Targeted 0% Loans; Bring Hospitals Up To Hill-Burton Act Standard;

Federal Reserve, Not Treasury, Must Finance A First Tranche Of $1 Billion In Emergency Public Works By Buying Zero-Coupon Century Bonds Issued By States;

Dow Up 1,165 In Short-Covering Rally On Hopes Of Trump Stimulus; Cuomo Sets Up 1-Mile Containment Zone Around New Rochelle In New York City Suburb Of Westchester;

Breaking: Biden Projected Winner In Michigan, Mississippi, And Missouri With About Three Fourths Of Black Vote; Biden Outperforms Hillary’s 2016 Results In Michigan