In yet another move to distract voters from POTUS Obama’s terrible horrible miserable economic record (among so many other failures), the Progressive Change Campaign Committee wants you to call Senate Democrats to tell them to vote for the Disclose Act:
- The Disclose Act is an important step toward taking back our democracy. It came 1 vote away from passing the Senate in 2010, and it will be voted on again next Monday!
Call your Democratic senators today and tell them you’ll stand with them if they support the Disclose Act.
The LaborUnionReport observed:
- Now, if one didn’t believe in coincidences, one might be goaded into believing that the entire #OccupyWallStreet movement is nothing more than a Democrat-Union conspiracy and that a lot of people might have been set up (suckered?). And, if that’s the case, then might that not make the whole #OWS agenda not just wrong, but evil too?
The legislation is sponsored/co-sponsored by the same Democratic Socialists of America-linked CPC members that my co-author Aaron Klein and I warned you about in Red Army, which was released October 25 of last year.
Bob Adelman writes at The New American that the tax should be called by its proper name, “the Tobin Tax, [which was] first offered 40 years ago by a Keynesian economist, following the collapse of the Bretton Woods agreement when President Nixon took the United States off the gold standard.”
Adelman was responding to a “burst of uninformed enthusiasm, [by] William La Jeunesse, writing for Fox News, [who had] announced that the bill offered by Senator Tom Harkin (D-Iowa) and Representative Peter DeFazio (D-Ore.) — the ‘Wall Street Trading and Speculators Tax Act’ — was the Robin Hood tax.”
“That bit of information,” Adelman adds, “would no doubt have helped to curb his enthusiasm.”
DeFazio — a DSA member who once housed the CPC in his House office — claims the “[tax] would benefit long-term investors with stability … [and] would benefit the economy with a longer-term perspective on investing, and it would reward patient capital as opposed to this useless daily second-be-second millisecond-by-millisecond churning [by speculators] that goes on.”
However, Adelman reports that Congressional Budget Office Director Douglas Elmendorf was “refreshingly blunt: The tax would have substantial negative impact in all areas. It would slow the American economy; it would shift jobs overseas to avoid paying the tax; it would raise the cost of municipal financing, and it would reduce the attractiveness of U.S. securities in foreign markets.” (Emphasis added.)
As if we needed any more proof of “the who” behind this latest Tobin Tax/Robin Hood Act/Disclose Act push, Adelman writes:
- Not surprisingly, one of those supporting the Tobin tax proposed by Democrats Harkin and DeFazio is none other than that great speculator of the 20th century: George Soros. On September 16, 1992, Soros speculated that the Bank of England would be forced to raise interest rates and, as a result, made a huge bet (estimated to be more than $10 billion, in English pounds) that the value of the English pound would consequently plummet. He was right, it did, and Soros became an enormously wealthy man.
There’s always something in it — whatever “it” is — for Georgy Schwartz.
Plus, there is a bonus. Adelman concludes:
- The Robin Hood tax, properly called the Tobin tax, can now be seen for exactly what it is: one more governmental extraction from rightful property owners by surreptitious means, with all manner of negative consequences and a hidden agenda. That’s certainly enough to wish it an early death.
Ah, yes. Once again we have the Progressives’ favorite mechanism to enslave the masses — taxation. And, as always, they want to trick those who do not pay taxes into advocating for those who do to pay up. It’s such a lovely plan.