Archive for the ‘Progressives’ Category

Madison Funds: We Expect Progressive (PGR)s Outperformance to Continue for Many Years – Yahoo Finance

Madison Funds, an investment management firm, published its Madison Investors Fund second-quarter 2021 investor letter a copy of which can be downloaded here. A quarterly portfolio return of 6.82% was recorded by the funds Class Y shares for the second quarter of 2021, compared to the S&P 500 Index gains of 8.55% for the same period. You can view the funds top 5 holdings to have an idea about their top bets for 2021.

In the Q2 2021 investor letter of Madison Funds, the fund mentioned The Progressive Corporation (NYSE: PGR) and discussed its stance on the firm. The Progressive Corporation is a Mayfield, Ohio-based insurance company with a $56.3 billion market capitalization. PGR delivered a -2.72% return since the beginning of the year, while its 12-month returns are up by 5.89%. The stock closed at $95.57 per share on August 18, 2021.

Here is what Madison Funds has to say about The Progressive Corporation in its Q2 2021 investor letter:

"Progressive Corporation is the third largest automotive insurer in the country, and one of the fastest growing. The company has long been known as the savviest underwriter in the industry, marrying excellent risk selection with best-in-class marketing analytics.

Many auto insurers have good margins or good growth, but virtually none have both. Progressive has both. The reason that most competitors dont have both is simple automotive insurance is a relatively commoditized product, so if a company is pricing its product to generate good revenue growth, its probably sacrificing margins.

The reason Progressive is an exception is twofold. It sells many of its policies directly to customers, without agents. This means it doesnt have to pay commissions, which means it has lower costs than competitors that use agents. Thus, it can slightly underprice competitors, and still garner higher margins than those competitors. The second reason is that it has built up the best expertise and database in terms of predicting the propensity of a driver to have an accident. Thus, it can offer lower prices to safer drivers more accurately than the competition. With the years of proprietary data and experience it has accumulated, it will be very difficult for new companies to outdo it on proper risk pricing. Because of this combination of lower costs and better analytics, Progressive has been outpacing industry growth by several points for the past few years, even while maintaining much higher margins than the industry. We expect this outperformance to continue for many years.

Last year was an unusual year for Progressive. With a dramatic drop in the number of miles driven by customers because of Covid related shutdowns, there were many fewer accidents than typical. While Progressive gave back a material amount of this benefit to its policyholders, it still reported abnormally high profits. With miles driven recovering quickly so far in 2021 as the economy has re-opened, the frequency of accidents has almost returned to normal. In addition, the severity of the accidents has actually picked up from historical levels; were not sure exactly what is causing this, although theres strong evidence that drivers are driving faster and with more abandon than they did pre-Covid.

Thus, insurers, including Progressive, are seeing losses from claims pick up, crimping margins, at least compared to the past year. We believe that the loss trends will either normalize as drivers resume previous driving patterns, or the industry will raise prices to account for the higher losses. Thus, we expect Progressives margins to remain at adequate, if not strong, levels. Its stock trades at a meaningful discount to the overall stock market, despite its stellar track record and top-notch management."

Story continues

Based on our calculations, The Progressive Corporation (NYSE: PGR) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. PGR was in 44 hedge fund portfolios at the end of the first half of 2021, compared to 45 funds in the previous quarter. The Progressive Corporation (NYSE: PGR) delivered a -5.78% return in the past 3 months.

Hedge funds reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldnt keep up with the unhedged returns of the market indices. Our research has shown that hedge funds small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by 115 percentage points since March 2017 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter.

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage.

Disclosure: None. This article is originally published at Insider Monkey.

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Madison Funds: We Expect Progressive (PGR)s Outperformance to Continue for Many Years - Yahoo Finance

Progressive Reports July 2021 Results – GlobeNewswire

MAYFIELD VILLAGE, OHIO, Aug. 18, 2021 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for July 2021:

See Progressives complete monthly earnings release for additional information.

About Progressive

TheProgressive Group of Insurance Companiesmakes it easy to understand, buy and useauto insurance. Progressive offers choices so consumers can reach us whenever, wherever and however it's most convenient - online at progressive.com, by phone at1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.

Progressiveprovides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; itis the third largest auto insurer in the country, a leading seller ofmotorcycleandcommercial auto insurance, and one of the top 15 homeowners insurance carriers.

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price, Snapshot, and HomeQuote Explorer.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.

Company Contact: Douglas S. Constantine(440) 910-3563 investor_relations@progressive.com

The Progressive Corporation 6300 Wilson Mills Road Mayfield Village, Ohio 44143http://www.progressive.com

Progressive July 2021 Complete Earnings Release:http://ml.globenewswire.com/Resource/Download/14e94693-821e-4853-aa75-dea620cdfee7

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Progressive Reports July 2021 Results - GlobeNewswire

The Centrist Who Taught the Left – The Nation

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Toward the end of the 2020 presidential primary, Bernie Sanders and Elizabeth Warren were vying for control of the progressive lane to the Democratic nomination, and the tensions between their two camps were growing. When Warren dropped out on March 5, she declined to endorse her fellow senator. Adam Jentleson, a longtime hand in Democratic circles who was close to Warren, explained to The New York Times the key difference between the candidates: She values the Democratic Party. She thinks it has flaws but is overall a force for good.1

But Sanders wasnt going to take back his criticisms of the Democratic establishment to earn Warrens support. Speaking to BuzzFeed, the Vermont senators deputy manager, Ari Rabin-Havt, fired back: Bernie Sanders has had the same values for his entire career, and he isnt changing that.2

The rivalry between the two senators and their teams had been heated. But a few weeks earlier, Jentleson and Rabin-Havt, along with Sanders senior adviser Faiz Shakir and other leading progressives like communications expert Rebecca Katz and Indivisibles Mari Urbina, posed together for a friendly photo before a debate in Nevada. Although some of them were now political opponents, they were also all veterans of former Senate Democratic leader Harry Reids office, and the retired Nevada senator was at the event.3

Today, Reids ex-staffers have leadership roles throughout the progressive movement. Rabin-Havt was Sanderss legislative director until July; Shakir is still a senior adviser as well as the founder of the progressive media outlet More Perfect Union. Joshua Orton, another Reid alum who worked for Sanders as a senior adviser from 2018 to 2021, is now a senior policy adviser to the Labor Department secretary.4

Jentleson, Reids former deputy chief of staff, is an author and an advocate for abolishing the Senate filibuster; he and Katz, formerly Reids communications director, run Battle Born Collective, a progressive messaging shop. Another former Reid communications director, Kristen Orthman, works for Warren; and Urbina, Reids former senior adviser for Latino and Asian affairs, is a managing director at Indivisible. These and other former Reid staffers, who call themselves Reidworld, are reshaping Democratic Party politics.5

Ive interviewed a number of these progressives over the past few months, and without exception, they told me that theyve used what they learned from Reidwho led the Senate Democrats from 2005 to 2017to help kick-start and strengthen the movement. But how did a moderate senator become perhaps the most influential mentor to the left wing of the Democratic Party? And what exactly did they learn from him?6

Sex work was the main industry in Searchlight, Nev., when Harry Mason Reid was born there in 1939. Only a few hundred people lived in the town, and with no nearby churches, Reid told me recently, the closest his family got to one was the pillowcase nailed to a wall in their home reading: We can, we will, we must reelect Franklin Delano Roosevelt.7 Current Issue

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That was my religion until I left, Reid said.8

There was also no high school in Searchlight, so as a teen Reid moved to nearby Hendersona relative metropolis with a few thousand residents. He went on to attend Southern Utah University, where he converted to Mormonism, and George Washington University Law School. Then he returned to Nevada and worked his way up the ranks of state politics, from Henderson city attorney to lieutenant governor to gaming chairman, before winning a seat in Congress in 1982. By 1986, Reid had won his first election to the Senate, where he would serve until his retirement in 2017.9

Reids approach to politics was to be more of an insider, behind-the-scenes player, which is what made him effective as leader, said Rabin-Havt. The blunt but soft-spoken senator was no leftist: He backed the death penalty, wanted to overturn Roe v. Wade, and voted for the invasion of Iraq. But he balanced those positions with liberal stances on domestic social programs, especially Social Security, which he fiercely defended throughout his career.10

Reid eventually climbed to the top of his caucus, taking over from Tom Daschle in the wake of the devastating 2004 election, when George W. Bush was reelected and the Republicans won both chambers of Congress.11

In December 2004, just as he was assuming the leadership of the Senate Democrats, Reid decided to hire Rabin-Havt as his online communications directornot in spite of the young mans leftist politics but because of them. On the surface, Reid seemed an unlikely person to reach out to Rabin-Havt. But at a time when many other Democrats and Washington experts thought the progressive movement a fringe oddity, Reid understood the potential power of the partys left wing.12

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The importance of hiring an online strategist wasnt obvious 17 years ago. There was no Twitter or YouTube, and Facebook was in its infancy. But Reid wanted to harness the growing left movement within the Democratic Party. Sick of the Iraq War and of losing to the GOP, progressive Democrats were becoming increasingly angry about their partys centrism. Reid wanted to direct that energy against the Republicans, but to do so he had to reach the left where they were: the blogosphere.13

Ari Rabin-Havt was Bernie Sanderss legislative director. (Robin Marchant / Getty Images)

Including Rabin-Havt in the Senate Democratic Policy and Communications Center, known as the war room, helped Reid mobilize the partys progressive base to his advantage. Less than two years later, Reid attended the inaugural YearlyKos conferencelater renamed Netroots Nationsponsored by the liberal blog Daily Kos. It was a savvy move that sent a message to the party establishment that the online left needed to be taken seriously as part of the Democratic coalition. Rabin-Havt told me that nobody in the caucus was willing to open up to the online left before.14

But not everyone was on board with Reids plan to attend the conference and embrace progressive bloggers. According to Rabin-Havt, some Reid staffers urged the senator to use the opportunity to stage a Sister Souljah moment and decry the partys left. (At a Rainbow Coalition convention during the 1992 Democratic primaries, Bill Clinton denounced the presence of the rapper Sister Souljah, accusing her of inciting violence against white people.) Rabin-Havt said he was apoplectic: I was like, Guys, these are the people funding your fucking campaigns. Are you really going to tell them to fuck off? Thats crazy. You dont go to somebodys house to insult them.15

Reid agreed with Rabin-Havt and gave a speech broadly aligning himselfand, by extension, the Senate Democratic Caucuswith the online left. The speech became a turning point, Rabin-Havt said. From then on, Reid was able to count on the support of influential lefty bloggers.16

Two years later, when the Democrats took both houses of Congress, it was clear that the online strategy had workedfor both the Democrats and grassroots organizations like MoveOn, a political action committee that began as a series of e-mail petitions. As Rabin-Havt recounted, In the 2006 election, MoveOn raised like $30 million. Tom Massie, who was at MoveOn at that point, became a major regular figure on Capitol Hill with access to members. It was like a total change in nature. Bloggers were having conference calls and access with the Senate leader.17

Reids approach to politics and personal relationships helped him win over the nascent online left, but it also earned him the trust of his staff. The former senator told me he knew that he could hire for experience, education, and intelligencebut not loyalty. Katz said Reid won her over when she was filling in for his Nevada press secretary. The senator was giving interviews, calling reporters, and having Katz read their phone numbers to him. She kept stumbling over the digits, and Reid turned to her and asked if she had a learning disability. Katz, who is dyslexic, replied that she did, and she recalled that she felt ashamed at that moment. But then Reid looked her in the eye and said, You must have worked twice as hard as everyone else to get where you are.18

That endeared him to her forever, she told me, and showed the values he prioritized in his staff. He didnt want people who had everything given to them, Katz said. He wanted people who went through and fought hard like he did.19

Mari Urbina is managing director at Indivisible. (Lindsay Galatro)

Mari Urbina told me that Reids retail approach to politics taught her the power of organizing. She entered Reids office as a student fellow in the summer of 2008 and left seven years later as senior adviser on Latino and Asian affairs. My job, she said, was to make sure we were understanding the push and pull of how, legislatively, we were showing up in the communities. That could be part of someones job, but that was my entire job.20

Today, Urbina uses those skills as managing director at Indivisible, one of the largest progressive grassroots organizations. Chief among the lessons she learned was the idea of the outside fight and the inside fightthe difference in tactics when it comes to working with community groups versus working within political institutions. Reid respected the different needs and interests people had, Urbina said, whether it was a Democratic caucus or it was having respect for the folks on the outside who were fighting.21

During Urbinas time with Reid, Nevadas Hispanic population was a growing electoral force. The senator always made time to meet with Latino groups in the state and nationally and developed a strong press operation to reach out to the Hispanic community, former senior adviser Jose Parra wrote me in an e-mail.22

The commitment to immigration issues and Latino concerns was a change for Reid, who in 1993 said on the Senate floor that no sane country would offer birth-right citizenship to the children of undocumented immigrants. But as the demographics shifted in Nevada and the country, Reid committed himself to expanding the Democratic Party.23

In 2010, Urbina watched Reid reach out to Hispanic groups and communities in his general election fight against Republican Sharron Angle. When Angle tried to use his support for immigrants against him, Reid embraced the attack, saying it showed, in his words, that he supported all Nevadans. By not waffling on his support for immigration reform during an election, he earned the trust of the states voters. Reid was reelected in a narrow 50.3 to 44.5 percent victoryproving the importance of working both within and outside political institutions to gain and hold power.24

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Even during that tough reelection fight, Reid wanted to mobilize the partys left. In 2010, he hired Jentleson, an up-and-coming political operative, to help strengthen his relationship with the partys grass roots. Jentleson told me that he expected the assignment would be a brief rsum-building experience. I figured it was a great way to gain some experience, short-term gain, that he would lose, and I would probably go find some other job on the Hill, Jentleson recalled. But things turned out a little differently.25

Jentleson said he learned from Reid that politics can require taking hits in the short term in exchange for gains over the long haul. It was a strategy that Reid had perfected over his career. Thats my philosophy about life, Reid told me. You cant be afraid to lose.26

During the government shutdown in 2012, Republicans in the House, egged on by conservative senators like Ted Cruz, refused to compromise with the Democrats on a budget funding bill. It was an act of brinkmanship that led them straight into Reid, the Senate majority leader, who would not budge on demands from the Tea Partydominated House.27

House Republicans employed a clever tactic, sending mini-appropriation bills to the Senate for funding Head Start, the National Parks Service, and other popular programs. Reid and the Senate Democrats stood firm, initially drawing bad press for refusing to break the budget into pieces. It paid off. The GOP came back to the table on Reids terms after it became clear that the Democrats were willing to wait out the Republicans intransigence, and the two sides negotiated a compromise.28

To get an advantage strategically, you sometimes have to take hits to take a position that would eventually yield a strategic advantage, Jentleson said. Sometimes you had to absorb a few days of bad press coverage, and eventually, if you could make it through those few dayswhich never really matter that much in the grand scheme of thingsyou would emerge with an advantage.29

Faiz Shakir is a senior adviser to Bernie Sanders. (Douglas Graham / CQ Roll Call)

In 2012, Jentleson approached Faiz Shakir, who was working in the office of thenHouse minority leader Nancy Pelosi, about joining Reids team. Reid had asked Jentleson to recruit Shakir, because the two had worked together at the Center for American Progress. Shakir embraced the offer and would remain with Reid until the Democratic leaders retirement; later he would become a senior adviser to Sanders.30

Shakir described Reids office as one where disagreement and debate were welcomed. Reid wasnt interested in hiring sycophants for his senior staff. Instead, he encouraged disagreement and wanted to hear from the different political groups vying for his attentionanother example of how he welcomed a political strategy that embraced both the inside fight and the outside fight.31

Neither fight was a caricature, said Urbina. There was real relationship analysis, real power analysis; there was a real respect in understanding the different needs and interests people had.32

Shakir described the senators approach as an old-school Democratic philosophy based in the partys New Deal era, when fighting for and being from the working class were seen as badges of honor. By hearing from members of his staff representing varied interest groups, Reid was able to consider the tactical advantages and disadvantages to his decisions both for his constituents in Nevada and the Democratic Caucus.33

Harry Reid essentially allowed us to kind of grow in our own directions, Shakir said. He wanted that. He was kind of like, I like having people who can have ideological convictions and also have some differences of opinion between them.34

In 2015, as the primary fight between Sanders and Hillary Clinton began, Reid asked Shakir what he thought of the Vermont senator. Shakir replied that he thought Sanders would be formidable and could give Clinton a run for her money. I remember [Reid] saying, I agree with you, Shakir recalled. Hes going to be a strong candidate.35

A few months later, Sanders and his team reached out to recruit Shakir. Reid gave his blessing and promised to hold his job for him. Im on Harry Reids staff, essentially helping Bernie Sanders through the end of 16 and 17 with his knowledge and awareness, Shakir said. It gives you a sense of how Harry thought about this. He had a respect for Bernie Sanders.36

Reid and Sanders were already friendly, having worked together for years. Reid told me that Sanders was as responsible for my success in the Senate as any other senator.37

He helped me do some very terrific things for the country, Reid said, referring to the inclusion of funding for community health centers in the Affordable Care Actan addition that was done at Sanderss behest.38

Sanders would lose the primary to Clinton, who then lost to Donald Trump. Shakir went on to work for the ACLU in 2017 after Reids retirement, but he kept in touch with Sanders, introducing him to Rabin-Havt. Three years later, the trio reunited on the 2020 Sanders campaign; Jentleson joined Warren, who had already hired former Reid aide Kristen Orthman as her communications director.39

With Democrats controlling Congress and the White House, Reids former staffers have attained influential political positions on the partys left, and theyve been able to use and pass on the lessons they learned in the senators office, both from Reid and from one another.40

I do still have a closeness with my colleagues from day one, because they helped train me and they helped make me, Urbina said. And I feel a lot of gratitude for their insights and for their support and for the organizer that I am today.41

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The Centrist Who Taught the Left - The Nation

Editorial: Progressives should practice what they preach – Boston Herald

Todays progressive leaders beat the drum on the need for bold moves to reshape and rebuild our country. The rich have too much money, they claim, so lets give it to the poor, or anyone who wants free stuff, like a gratis college education.

If they wanted to be truly bold, they could try practicing what they preach.

As the pandemic gained steam last year, eviction moratoriums were granted to help those struggling to pay rent amid so many business closures.

In April of 2020, Rep. Ilhan Omar (D-Minn.) introduced the Rent and Mortgage Cancellation Act, a bill calling for a nationwide cancellation of rents and home mortgage payments through the duration of the coronavirus pandemic. The bill would constitute a full payment forgiveness, with no accumulation of debt for renters or homeowners and no negative impact on their credit rating or rental history.

The bill was co-sponsored by fellow squad members Reps. Ayanna Pressley, Alexandria Ocasio-Cortez (D-N.Y.), Rashida Tlaib (D-Mich.) and other progressive members of Congress.

Pressley tweeted last year, We must cancel rent, extend eviction and foreclosure moratoriums, provide rental assistance, and offer legal representation for those at risk of eviction.

And by we, she meant everyone but me.

As the Herald reported, Pressley and her husband earned up to $15,000 in rental income last year. According to financial reports, she and her husband received rental income of $5,001 to $15,000 on her primary residence in the city that was converted to a two-family building.

That primary residence, she disclosed, is worth$500,001 to $1 million. Her spouse salary is listed as $246,102.

Pressley wasnt alone on the do as I say, not as I do front according to Yahoo News, Rep Tlaib also claimed rental income last year of $15,001 to $50,000 from property she owns in Detroit.

Rent should be canceled, unless progressives are the ones charging it.

Speaking of charging, Rep. Ocasio Cortezs pricey Tesla got a shoutout on Twitter, and not in a good way, when she posted a thread about her grandmothers plight in Puerto Rico back in June:

Just over a week ago, my abuela fell ill I went to Puerto Rico to see her my 1st time in a year+ bc of COVID.

This is her home, she added, posting a picture of a dwelling with a damaged roof and no bedding. Hurricane Mara relief hasnt arrived. Trump blocked relief $ for PR. People are being forced to flee ancestral homes, & developers are taking them.

Honey, you drive a Tesla and have two apartments, Florida GOP congressional candidate Lavern Spicer replied. If your grandmother is living poor thats because you dont help her out. Im surprised that a socialist wouldnt redistribute that wealth to their grandma. Sad!

Theres a good 10 grand difference between a Tesla and a Prius, by the way.

AOC was slammed for being a Lear jet liberal a sobriquet she could share with our very own John Kerry, President Joe Bidens climate czar.

The man who exhorts us to reduce our carbon footprint, stat, owns a private jet.

Its not so much that these people are landlords and owners of costly cars and can avoid flying commercial its that they do so while pontificating on the evils of capitalism and carbon-based fuels and not sharing the wealth.

Progressives like to toss the word transparency around, claiming its vital to draw back the curtain on institutions in the name of justice.

They can start with themselves. Until then, we dont want to hear it.

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Editorial: Progressives should practice what they preach - Boston Herald

Progressives now cry, no more power to the People – Inland Valley Daily Bulletin

SACRAMENTO California Democrats are dressing up their opposition to the Sept. 14 recall election of Gov. Gavin Newsom by pointing to high-minded principles, but their arguments are hard to take seriously. Progressives dont really think that the recall process is illegitimate or unconstitutional. They simply dont like that its being used against one of their own.

Ive got mixed feelings about this particular recall, mainly because the organizers blame in their statement of reasons illegal immigrants for the bulk of Californias problems. Our states problems entirely are the making of its U.S.-citizen politicians and the voters that have empowered them.

Nevertheless, the recall process like the two other cornerstones of direct democracy, the initiative and referendum is dyed into the fabric of our state. Todays progressives, who claim to stand for the power of the People against special interests and the political class, despise a process that was devised by early 1900s progressives for that explicit purpose.

Their opposition is situational, an outgrowth of their fear that the public isnt nearly as given to liberal pipedreams as they would like. Note the results from November, when the same California voters who reliably send Democrats to Sacramento rejected initiatives that would expand rent control, increase commercial property taxes and re-impose race-based college admissions. They supported a measure that exempts drivers from a ban on independent contracting.

This special election is entirely legitimate. State law clearly spells out the rules. Recall supporters gathered the requisite signatures, submitted them for approval and have legally placed it on the ballot. By contrast, California Democrats toyed with the schedule, as they passed a law designed to speed up the election date because they believed an earlier date would help Newsom.

As news reports note, they previously passed a law to protect Democratic Sen. Josh Newman from a recall in 2018 by moving the date to a more Democratic-friendly primary. Their goal in both situations was to rig the rules to benefit their candidates, so they ought not to lecture us about their, er, principled opposition to this time-tested election innovation. Their only principle is whatever helps them the most.

Democratic Party Chair Rusty Hicks and a lineup of Democratic elected officials claimed the recall effort was a coup to remove Newsom, led by far-right extremists including white supremacists and neo-Nazis, according to an Associated Press report from January. I love this line in the AP story: However, they provided no evidence to support the allegations. Seriously, a coup?

Democratic attacks on the recall havent gotten much better since then. The same Republicans who refused to hold Donald Trump accountable for the deadly insurrection of January 6th are now trying to hold Governor Newsom accountable for the failures of Donald Trump. The recall effort is partisan, reckless, dangerous, said U.S. Sen. Alex Padilla, D-California.

From a political perspective, its fair game to depict this election as a partisan, right-wing, blah-blah-blah effort, but Im disturbed by ongoing arguments that the recall process itself is some affront to democracy or a distortion of the original creation. The father of direct democracy, Gov. Hiram Johnson, argued, that if you believe in the recall, and if in your wisdom you desire its adoption by the people, you make no exception in its application. Thats rather far reaching.

The latest absurdity comes from UC Berkeley professors Erwin Chemerinsky and Aaron Edlin. Theyve offered a novel argument for why this type of election, which is embedded in the state Constitution, is unconstitutional. Theyre concerned that the winning candidate might end up with fewer votes than the no side on the recall question.

The most basic principles of democracy are that the candidate who gets the most votes is elected and that every voter gets an equal say in an elections outcome they argued in a New York Times op-ed. The California system for voting in a recall election violates these principles and should be declared unconstitutional.

Thats a fascinating legalistic theory, but simply is a contortion that would gut the states direct democracy in service to short-term political preferences. As Johnson noted in his First Inaugural Address, The opponents of direct legislation and the recall, however they may phrase their opposition, in reality believe the people cannot be trusted.

Progressives apparently no longer trust the people they claim to represent. Conservatives at least in some other states arent much better as they seek to rein in their initiative systems because they are yielding results (e.g., marijuana legalization) they dislike. Thats an odd position for newfound champions of populism.

California voters often do the wrong thing, but I trust them to decide whether to recall their governor. But whatever you decide, base it on your views of Newsoms governance not on bogus arguments about the illegitimacy or undemocratic nature of the states recall process.

Steven Greenhut is Western region director for the R Street Institute and a member of the Southern California News Group editorial board. Write to him at sgreenhut@rstreet.org.

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Progressives now cry, no more power to the People - Inland Valley Daily Bulletin