Feeds:
Posts
Comments

Archive for November 4th, 2014

US Congressional Representative Keith Ellison represents the US middle class in the fifth district of Minnesota, and he is absolutely correct when he utters the sentence above. Corporate trade treaties have virtually nothing to do with trade, except that which is coincidentally negotiated to pretty them up enough to make them appear as trade treaties. However, these treaties are negotiated with an eye to redistribute income from the 99 to the 1 percent, whether raising prices has been negotiated, or shipping jobs overseas, or whatever.

When US jobs are shipped overseas, the difference between the old higher rates and the new lower rates go straight into the pockets of the 1 percent via higher corporate earnings, rising share prices and enhanced dividends. And that goes for year after year so long as those jobs exist. The losers of the jobs might get lucky and receive a little unemployment insurance and lower wages.

A US citizen named Joe might see his $54,000 a year jobs shipped overseas. A guy named Ming gets that job and it pays $4,000 a year. The difference between the two jobs is $50,000 a year. Say that job exists for 20 years. $50,000 times 20 years equals a million dollars now going to the 1 percent, whereas the same job would’ve paid Joe $1,080,000 over twenty years. Over that span of time one million dollars will been redistributed from the 99 to the 1 percent.

That’s called income redistribution and some of the architects in congress stealing from the middle class and giving to the rich are Wall Street Senators Ron Wyden, Orrin Hatch and Mitch McConnell, Wall Street Congress people Nancy Pelosi and John Boehner, as well as President Barack Obama.

Read Full Post »

%d bloggers like this: