For A Sustainable Economy
By Mike Hersh for Donna, Mike F, Judy, Dan, Janis, Deb, Amos, Dr. Bill, and Kim, your PDA National Team
This month, during the Summer for Progress, Progressive Democrats of America (PDA) is organizing within a huge coalition for the People’s Platform—8 bills we’re urging all Democratic Representatives to cosponsor. One of the bills, Sen. Bernie Sanders’ and Rep. Keith Ellison’s Inclusive Prosperity Act, would achieve several important economic and policy objectives.
We’re working with leading progressive organizers on the Summer for Progress effort. We can’t do a thing without your help! Please click here to sign up to help organize an office visit at your Representative’s office. If your Representative is a Republican, please click here to help with our phone team. No time to volunteer? Click here to donate $20.18 / month or click here to donate another amount monthly to help PDA elect progressives to Congress in 2018. Your regular automatic donation helps us plan and budget most effectively. Click here to make a one-time donation. We gratefully accept any donation you can afford to make.
Also known as The Robin Hood Tax and the Financial Speculation Tax (FST), the Inclusive Prosperity Act would assess a tiny sales tax on certain Wall Street transactions, generating hundreds of billions of dollars and providing funds to create jobs, help preserve the social safety net, make our tax structure fairer, empower working and middle class families, and help expand our economy. The legislation would prevent much of the speculation that inflates highly unstable financial bubbles. It would thereby help stabilize financial markets and help protect us from another crash.
Excessive financial speculation crashed our economy and triggered the Great Recession, costing the United States 7.5 million jobs and untold $trillions of personal wealth—wiping out savings and retirement plans, as well as costing millions of families their home. On top of that, taxpayers handed over $trillions—millions of $millions—to bail out “too big to fail” financial corporations, with basically no strings attached. That is, we’ve done precious little to prevent another massive market meltdown.
The United States had a financial transaction tax from 1914 to 1966, and 40 other countries have such a tax. The International Monetary Fund has issued a paper verifying that financial transaction taxes are feasible. We need your help to make the case for the Inclusive Prosperity Actand the seven other planks of the People’s Platform. Join a Summer for Progress Local Lobbying Team. Too busy to volunteer? Pitch in $500, $50, or whatever you can to help support our mobilizing for a Progressive Congressional majority.
Mike Hersh for Donna, Mike F, Judy, Dan, Janis, Deb, Amos, Dr. Bill, and Kim, your PDA National Team
P.S. We hosted a Prosperity Not Austerity reception at Busboys and Poets in D.C. back in 2013 featuring Rep. John Conyers, Rep. Keith Ellison, Rep. Mark Takano, Michael Lighty from National Nurses United (NNU) and Rev. Yearwood. Click here to view a video from the event.