Raul Grijalva

11 European countries pass Robin Hood Tax on financial transactions

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Robin-h-05-sm72by Pamela Powers Hannley

Eleven European countries, who collectively account for two-thirds of the EU's economy, have passed a new financial transaction tax.

Also known as the Robin Hood Tax in the US, a financial transaction tax charges a small percentage fee for every stock market deal. The new European law will charge a rate of 0.1% on any trade of shares or bonds and 0.01% on any financial derivative contract, according to an article in Think Progress. These tiny percentages would raise an estimated 57 billion euros per year if all 27 of the European countries adopted the law. (At an exchange rate of 1 EU = $1.33, that is an estimated $75.8 billion in US dollars per year of revenue generation.) In addition to raising funds, the financial transaction tax discourages speculative computerized trading. Also know as "rent seeking," computers are set up to buy stocks and sell them quickly– sometimes when the profit is just pennies. If you do enough of this automated micro-trading, you can make a bundle of money; but this speculative behavior adds volitility to the market and produces nothing except fot the gamblers who are in the game. The Ed Schultz Show has a great explanation here. 

 In all, 40 countries worldwide have adopted a financial transaction tax. The 11 countries who have passed the Robin Hood Tax recently include two European powerhouses– Germany and France– plus Spain, Portugal, Italy, Belgium, Austria, Slovakia, Slovenia, Greece, and Estonia. The financial problems facing Greece, Spain, and Italy have been in the news for years. This tax will help cash-strapped governments to become more stable. 

Gosh, what other country is facing dire financial choices and needs an infusion of cash? Find out how the Robin Hood Tax would help the US economy after the jump.

PDA sponsors ‘People’s Inauguration’ in DC on Jan 19: Watch live streaming

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Pc iii logo-1by Pamela Powers Hannley

Progressive Democrats of America (PDA) is hosting Progressive Central: The People's Inauguration on January 19 in Washington DC. 

Progressive pundits and politicians from around the country– including our own Congressman Raul Grijalva– will be there. If you're like me and will be in Tucson tomorrow, check out the live streaming of Progressive Central on the PDA home page, beginning at 8 a.m. (Eastern Time).  Bisbee's own Loneprotestor will be in DC– so look for video from her on this blog. I attended Progressive Central in Charlotte while attending the Democratic National Convention, and it was inspiring. More details from after the jump.

Ward 6 Roast: From immigration reform to potholes, politicians answer voter questions (videos)

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K-r-g-b-712-sm72by Pamela Powers Hannley

Although gun enthusiasts threatened to disrupt last week's Ward 6 Roast, the event featuring a dozen politicians who represent midtown/downtown Tucson came off without a hitch. 

Organized by City Councilman Steve Kozachik and moderated by political cartoonist and commentator David Fitzsimmons, the roast featured local, state, and federal politicians answering questions from the audience, which numbered about 400. Rather than severely edit nearly two hours of video, I have created separate videos for candidate introductions, the immigration reform question, the gun violence question, the F35 question, and the neighborhoods/roads questions. Watch the first three videos after the jump. More to come.

For me, the biggest surprise of the evening– besides how outnumbered former State Legislator Frank Antenori and the gun nuts were– was Congressman Ron Barber. Check out his responses to the questions on immigration reform and gun violence; he sounds far less Republican than he has in the past on those issues. 

Democratic Party reorganization: Anti-Grijalva shake-up in LD3

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Grijalvaby Pamela Powers Hannley

Reorganization of state and county political parties is one of the more arcane processes of our political system. 

Every two years, new and incumbent precinct committee (PCs) people are elected in August, during the primary. New and incumbent politicians are elected in November. Between the November election and February 1, legislative districts (LDs), then the county political parties, and lastly the state political parties reorganize and elect new officers. (Both the Democrats and Republicans do this.)  

Many of the same people volunteer to be PCs, officers, and State Committee representatives. Sometimes there is a bit of drama – like when the Three Sonorans tried to get me to run for county part chair against Jeff Rogers or when the state party bent the rules to elect Andrei Cherny– but generally, there are few real surprises– until now.   

On Monday, while the eyes of Tucson were on the TUSD desegregation public forum, a coup took place on the west side. As a representative of Congressman Raul Grijalva read the Congressman's statement in favor of the restoration of Mexican American Studies, anti-Grijalva forces took the chair of LD3 and key positions on the county Executive Committee. Details after the jump.

Congressional progressives propose ‘Deal for All’ (video)

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by Pamela Powers Hannley

Now that the 2012 elections are over, the US Congress must face the "fiscal cliff".

What is the fiscal cliff? The fiscal cliff is a collection of financial provisions– including the infamous Bush tax cuts and the mandated "sequestration" cuts (brought about because the Super Committee couldn't reach a compromise)– that either expire–or take effect– between now and December 31, 2012. 

Whether or not the fiscal cliff is really a cliff or just a bump in the road depends upon which media outlets you follow.

The Congressional Progressive Caucus has proposed the Deal for All to mitigate the impact of fiscal cliff decisions on the middle class and the poor.

After the jump, watch a video of a hearing on the Deal for All and read an explanation of their ideas.