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Archive for December 4th, 2013

After Two Years of Closed-Door Negotiations, Trans-Pacific Partnership Text Replicates Alarming Bush Trade Pact Terms That Obama Opposed as Candidate, and Worse

President Obama is preparing a speech on income disparities in the USA that he plans to give on television, while at the same time planning on doing something about it: his administration is negotiating to make income maldistribution worse than it already is. The TPP will redistribute income from the 99 to the 1 percent, which seems to have been the job of every president and nearly every major player in the Democratic and Republican Parties since Ronald Reagan was elected president in 1980. Obama, of course, is doing precisely what he’s been doing in regard to this matter for the last five years. Obama’s hypocrisy is truly Orwellian.

Although the Trans Pacific Partnership (TPP) has been branded a “trade” agreement, the leaked text of the pact’s Investment Chapter shows that the TPP would:

1.  limit how U.S. federal and state officials could regulate foreign firms operating within U.S. boundaries, with requirements to provide them greater rights than domestic firms;
2.  extend the incentives for U.S. firms to offshore investment and jobs to lower-wage countries; the difference between the old higher US wages and the new lower wages overseas will go directly into the pockets of the 1 percent via higher corporate profits, dividends and share prices while robbing people of their jobs and weakening funding for public programs
3. establish a two-track legal system that gives foreign firms new rights to skirt U.S. courts and laws, directly sue the U.S. government before foreign tribunals and demand compensation for financial, health, environmental, land use and other laws they claim undermine their TPP privileges; and
4. allow foreign firms to demand compensation for the costs of complying with U.S. financial or environmental regulations that apply equally to domestic and foreign firms.”

The primary purpose of the TPP seems to be to raise prices, which redistributes income from the 99 to the 1 percent. It’s a corrupt, rigged game, folks.

Check out the link below.

Public Citizen

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