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Posts Tagged ‘Fast Track Trade Authority’

The war against the middle class is hitting a high point. President Obama wants Fast Track Authority for the Trans Pacific Partnership (TPP). It is likely the vote in the US house will be this week. The TPP is a massive income redistribution scam falsely marketed as a free trade agreement. Call your representatives in the US House today and let them know you are against the TPP and Fast Track Authority.

Call your representative today by clicking on the following link Stop fast track today. These phone calls help sway your representatives and can be more effective than the billions of dollars big business uses to buy politicians, but only if enough people call. Sure, Wall Street has bought off lots of politicians, such as Senators, such as Ron Wyden, Mitch McConnell and Orrin Hatch. But it hasn’t purchased all of them, not yet anyway. So call now today. Let me tell you why.

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.

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In a move that elicited a collective groan from virtually all of progressive America, the Obama administration and congressional Republicans reached a deal on April 16 on so-called “fast track” trade authority. This is the legislation needed to ram new trade agreements through the US Congress with limited debate and no amendments. While it was a gut kick to the progressive movement, it was also a gut kick to grass roots Tea Party Republicans, and the entire middle class.

Fast Track is another way to rig the economic and political game against the 99 percent. Fast Track was championed by class warriors and Wall Street Senator’s Ron Wyden, Orrin Hatch and Mitch McConnell.

It was a gut-kick for labor unions and environmental, consumer, human rights and other groups that have long called for a change of course on US trade policy. Instead, the fast track legislation shows we’re still stuck in the same old failed model of the 1990s. The bill lays out trade policy objectives that elevate the narrow interests of large corporations and undercut efforts to support good jobs, the environment and financial stability.

Read the rest of this story by clicking on the link below.
Fast-Track: A Gut-Kick to the Progressive Movement.

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There is a simple reason major US corporations have one of the highest tax rates in the world, and yet, they often pay no taxes, and they often receive billions of dollars in tax rebates from the government on taxes they never paid, as in the case of Bank of America in 2013.

1. By having a large tax rate on paper, the US media propaganda machine, representatives of US corporations, their lobbyists, and their US politicians can argue US corporations have the largest tax liability in the world, and then they will manipulate this lie to generate public support for changes to the corporate tax laws to lower their tax liabilities, which means US corporations will then receive larger tax rebates on taxes they never paid in the future.

2. US corporations enhance their profits with the rebates, which redistributes income from tax payers, i.e. the 99 percent, to the 1 percent. The 99 percent receive less government services by this redistribution, and the 1 percent receive more income. Taxes, coincidentally, are higher on working folks because somebody has to make up the difference between what the government should have in tax revenues, and what the government gives out in tax rebates to the rich. It should be pointed out that any tax rebates on taxes that aren’t even paid is called welfare for the 99 percent, and tax rebates for the 1 percent.

3. The importance of the rebates are massive for publicly traded limited liability corporations, such as Bank of America. The rebate in 2013 increased the bank’s profits by almost 50 percent. That fueled profits to the tune of $1.9 billion in this case, which provided enhanced dividends, as well as surging stock prices to shareholders, and bonuses to important bank officers.

4. Much of those profits, whether actual profits ($4.4 billion), or tax rebates ($1.9 billion), provides more money for Bank of America to purchase politicians of both major political parties, which fuels legislation that further redistributes income from the 99 to the 1 percent, which will then provide more tax rebates at your expense to Bank of America.

5. Fast Track is a current case in point. Fast Track is legislation pending in congress that will turn over congressional international trade authority to the president of the United States, which is something congressional Wall Street Republicans want to do despite their campaign against President Obama’s imperial presidency, which is, coincidentally, something the Republicans have allowed the presidency to become. That’s because the Wall Street wing of the Republican Party (Orrin Hatch, Mitch McConnell, Paul Ryan, John Boehner, etc….) and the Wall Street wing of the Democratic Party (Ron Wyden, Nancy Pelosi, Barack Obama, etc…) are allies when it comes to working on behalf of Wall Street, and against the interests of the American people.

6. Fast Track will limit debate, not allow for any amendments to the looming international income and political redistribution agreement called the Trans-Pacific Partnership (TPP), and will not allow any filibuster of this income redistribution scam in the senate. In that way, the public will have less time to be informed of the scheme in congress, and it can pass with 50 votes in the senate, since no filibuster will be allowed, and in case of a tie, Vice President Joe Biden will make the decisive vote in favor of TPP. In other words, senators like Bernie Sanders, Elizabeth Warren, Jeff Merkley, Sharrod Brown, David Vitter etc…. will be unable to filibuster the TPP.

7. 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, social safety nets, schools, fire and police, 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.

* 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.

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