About 150 protestors rallied yesterday against the looming Trans-Pacific Partnership, the largest income and political power redistribution scam in US history, which is falsely called an international trade agreement by government plutocrats and corporate hacks. The protestors voiced their disapproval of Fast Track Legislation which might be introduced to congress as early as next week.
Representatives from diverse grass roots organizations converged on the meeting places, which included the Oregon offices of Wall Street Senator Ron Wyden, and Wall Street US House Representatives Earl Blumenauer, Suzanne Bonamici and Kurt Schrader. Labor organizations, religious groups (First Unitarian Church) and environmental groups (Sierra Club), as well as human rights groups, such as Black Lives Matter, sent representatives.
The fast track negotiating authority for trade agreements is the authority of the President of the United States to negotiate international agreements that Congress can approve or disapprove but cannot amend or filibuster. Debate is also limited. Fast track negotiating authority is a temporary and controversial power granted to the President by Congress. The authority was in effect from 1975 to 1994, pursuant to the Trade Act of 1974, and from 2002 to 2007 by the Trade Act of 2002. Although it expired for new agreements on July 1, 2007, it continued to apply to agreements already under negotiation until they were eventually passed into law in 2011. In 2012, the Obama administration began seeking renewal of the authority.
As for the Trans-Pacific Partnership (TPP), we know from leaked documents the TPP is a massive income redistribution scam. The TPP has almost nothing to do with international trade. We know that;
* TPP will give incentives for US corporations to export millions of US jobs. The Federal Reserve estimates that 28 million US jobs were exported between 1990 and 2010.
* TPP will increase US income and wealth inequality. The 1 percent have already taken 95 percent of all income growth in the United States since 2009. Currently, the 1 percent are stealing 36+ percent of all income produced in the USA, compared to only 8 percent in 1980. International trade scams and other federal legislation have brought inequality about. For example, when the above jobs were exported, the difference between the old higher US wages and the new lower wages will go straight into the pockets of the 1 percent via higher corporate profits, rising dividends and surging share prices.
* Those lost jobs will no longer be paying the taxes for our infrastructure, K-12 education, higher education (tuition and fees will go up), social safety nets, schools, fire, police, public transportation, social security taxes, but those lost jobs will push the stock markets higher.
* TPP will effectively eliminate your voting rights on local and state issues since it will unconstitutionally grant investors of the 0.01 percent special privileges to challenge labeling and health and safety local laws and regulations of the 99 percent, which most people call voter suppression, but in this case it should be called voter elimination,
* TPP will offer new monopolies for Big Pharma to raise medicine prices they charge you (which redistributes income from the 99 to the 1 percent),
* TPP will limit food safety standards (which redistributes and transforms your health into the profits of the 1 percent),
* TPP will block financial regulations aimed at preventing the next financial crisis (which will make it easier for Wall Street to redistribute your income and wealth to the 1 percent). Bank of America Stands to Gain From This. The bank will be able to steal more money from you with less regulations, which will increase its profits, dividends and share prices, not to mention CEO bonuses. Bank of America is also spending millions of dollars on lobbyists in support of Fast Track and TPP.
* TPP will destroy millions of jobs in Latin America (230,000 in the textile industry of El Salvador alone) forcing millions of undocumented immigrants into the United States.
Yes, believe it or not, Wall Street Senator Ron Wyden supports this massive income and political power redistribution scam, as well as Fast Track, and corporate plutocrats such as Oregon Congresswoman Suzanne Bonamici, and Congressmen Earl Blumenauer and Kurt Schrader keep saying they haven’t made up their minds. What a corporate plutocrat shocker!
* The result of the above will be to depress wages in both North and South America, all to the benefit of the 1 percent, and all at the expense of the 99 percent.
* And we can’t forget that TPP will increase the already massive US trade deficit with other nations, which is supposed to be a bad thing. The exported jobs will be producing goods overseas rather than here, and then US corporations will export their products from China and Vietnam into the United States, exacerbating the current trade deficit.
In other words, the TPP has almost nothing to do with trade. It’s about taking away your money, your voting rights, and giving them to the 1 percent.
TPP, in other words, is designed to put more of your money in the hands of the 1 percent, and this money will be used to corrupt government even more while impoverishing you, and redistributing your future and the future of your children to the 1 percent.
You can rest assured, if Fast Track passes, and the TPP passes with it, profits, as well as the tax rebates Bank of America receives, will become greater, and at your expense.