Thank you grassroots progressives, grassroots tea party members, labor unions, church groups, environmental organizations, and so many more for the fight of the century you put up.
Today, in the US House of Representatives, Democrats and some Republicans responded to twitters, emails, letters and phone calls from the 99 percent, and these things defeated Wall Street Investors, large corporations, and their President Obama, by rejecting Trade Adjustment Assistance (TAA). US House Democrats refused to give President Obama Fast Track Authority that will allow for easy passage of the Trans Pacific Partnership without first giving workers trade adjustment assistance (TAA).
The president offered TAA, which offers government assistance for workers whose jobs are shipped overseas because of trade treaties, but he intended to fund it with money from Medicare, and it would still be underfunded, leaving millions of workers who will lose their jobs with TPP in poverty and without hope.
Rep. Louise Slaughter, a top House Democrat from New York, said she would not vote for TAA because she doesn’t want “this trade bill (TPP) to go through.”
“TAA has always been an absolute admission to me that there is going to be lots of lost jobs,” Slaughter said.
The TPP is Obama’s gift to Wall Street, but many Democrats see it as the end of their party since the base is so riled up against it.
We know from leaked documents the TPP will:
* 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. Wyden wants to increase this number. Jobs are the biggest US export product. Wyden likes this.
* 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. Wyden is a principle architect of this inequality.
* 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 eliminate millions of jobs in Latin America, which will drive millions of more people illegally into the United States and depress wages here. See how-the-trans-pacific-partnership-will-destroy-american-jobs-by-destroying-us-exports–Johnhively.wordpress.com .
* TPP will raise pharmaceutical prices by extending patents forcing the 99 percent to pay more for big pharma’s products.
* TPP will override Wall Street regulations, as if the mostly ineffective US regulations inhibit Wall Street profits and illegal activities.
Stunningly, Democrats such as Wall Street Senator Ron Wyden support doing all of the above to the American people. And these things are only a few things we know about. Why are these negotiations so secret? US Senator Elizabeth Warren says it best below.
As for Fast Track Authority, if passed by congress, it will mean there be limited debate in congress when the TPP comes up for a vote. Fast track will also prohibit any amendments to the TPP and eliminate any means to filibuster it in the senate. In other words, fast track rigs the political and economic game against the 99 percent and for the 1 percent.