Power of Story Send a Tweet        

Share on Google Plus 1 Share on Twitter 2 Share on Facebook 6 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 8 (17 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   7 comments
Sci Tech

The Trans-Pacific Partnership Will Sink the Middle Class

By       Message Thom Hartmann       (Page 1 of 2 pages)     Permalink

Related Topic(s): ; ; ; , Add Tags  Add to My Group(s)

Must Read 3   Well Said 3   Supported 2  
View Ratings | Rate It

opednews.com Headlined to H1 1/27/15

Author 1486
Become a Fan
  (127 fans)
- Advertisement -

Reprinted from Smirking Chimp

Six years into his presidency, President Obama is now taking heat from a surprising place: congressional Democrats, who are lining up against his plan to force the Trans-Pacific Partnership (TPP) through Congress without any debate whatsoever.

If approved, the TPP, or as I like to call it, the Southern Hemisphere Asian Free Trade Agreement -- SHAFTA -- would create a whole new set of rules regulating the economies of 12 countries on four different continents bordering the Pacific Ocean.

- Advertisement -

Unfortunately, because the TPP is being negotiated almost entirely in secret, we don't know a lot about it.

What we do know about it, though, comes almost entirely from leaks, and those leaks paint a pretty scary picture.

Thanks to groups like WikiLeaks, we now know the TPP would give big pharmaceutical companies virtual monopoly patent power, let corporations sue countries in international courts over regulations that those corporations don't like, and gut environmental and financial rules.

- Advertisement -

Given facts like this, you'd think that President Obama would want Congress to actually take the time and debate whether or not the TPP is a good idea for the US public.

But that's apparently not the case.

To push the US onto the TPP as soon as possible, he's asked Congress to give him "fast-tracking" powers that would prevent lawmakers from making any amendments to the TPP.

Instead, the treaty would be sent right to the floor where it would only have to pass a simple majority vote.

Sounds pretty, anti-democratic, right?

Well it is, and that's why Congressional Democrats are now speaking out against President Obama's request for fast-tracking powers.

- Advertisement -

But the fight against TPP is about more than just whether our elected representatives should get a say in the trade policy of our republic -- it's about whether the middle class will survive through the next generation.

As economist Adam Smith pointed out in his classic book The Wealth of Nations, manufacturing is what really creates the wealth of nations. That's because manufacturing creates things of real value, like cars, that can be sold to create wealth. This, in turn, helps create a middle class made up of working people who make the things that fuel the economy.

Every single great power in modern world history has understood this. That's why they protected their domestic industries with strong tariffs that made goods produced by domestic factories cheaper than those made abroad.

The founding fathers understood the importance of manufacturing as well. One of the first things George Washington did when he took office was ask Alexander Hamilton to come up with a plan to boost US manufacturing.

Next Page  1  |  2

 

- Advertisement -

Must Read 3   Well Said 3   Supported 2  
View Ratings | Rate It

opednews.com

Thom Hartmann is a Project Censored Award-winning New York Times best-selling author, and host of a nationally syndicated daily progressive talk program on the Air America Radio Network, live noon-3 PM ET. www.thomhartmann.com His most recent books are "The Last Hours of Ancient Sunlight," "Unequal Protection: The Rise of Corporate Dominance and the Theft of Human Rights," "We The People," "What Would Jefferson Do?," "Screwed: The Undeclared War (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

S&P Blames Republicans, Mainstream Media Fails to Report It

Globalization Is Killing The Globe: Return to Local Economies

The Great Tax Con Job

The Uncanny, Frightening Ways That Trump's America Mirrors Hitler's Germany

The Truth about the Trust Fund-- Destroying Social Security to Destroy the Two Party System

The Deciding Moment: The Theft of Human Right