Posted in corruption, Economics, free trade, Recessions, taxes, the Rigged Game, trade, trade deficit, wealth redistribution, tagged free trade treaty, income redistribution, obama, South Korea on Jpm3000000pmThu, 15 Mar 2012 12:38:27 -080012 10, 2010|
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Yesterday, President Barack “Wall Street” Obama praised the South Korea Free Trade Treaty that he signed into law last year. The treaty is expected to cost the USA nearly a million net jobs during the next decade. It was viciously opposed by main street in both countries and enthusiastically supported by Wall Street and Corporate America.
That’s because the difference between the old wages here and the new wages there will go into the pockets of the one percent, while a million citizens of the 99 percent will lose their livelihoods. The loss of the income tax money from those jobs means schools, police and other governmental agencies will lay off workers. In other words, the main purpose of the treaty is to redistribute income from the 99 percent to the one percent. The federal government is a tool used by the one percent to achieve this objective.
You’ve got to wonder how anybody can take Obama’s claim to be a job creator seriously when he is able to so readily write his signature on a sheet of paper that ships those jobs away.
By the way, the treaty is unconstutional. The Constitution clearly states that a treaty must 2/3rds of the Senate vote for it in order for it to become law. The Senate vote failed to reach that goal, as did every other free trade treaty in US history.
The South Korean Income Distribution Treaty is set to illegally take effect at Midnight on March 15, 2012.
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