higurashihougi wrote: Cowboy's daughter wrote:futher more, his TPP
A recent study finds the TPP would spell a pay cut for all but the richest 10 percent of Americans by exacerbating income inequality, as past trade deals have done. That would contradict Obama’s 2015 SOTU inequality reduction goal. Macroeconomic theory predicts if Americans face more competition from workers in Vietnam who make less than 65 cents/hour, wages will be pushed down. Sixty percent of manufacturing workers losing jobs to trade who find reemployment face pay cuts, with one in three losing more than 20 percent, per U.S. DoL data. There is academic consensus trade has contributed to the major rise in inequality.
http://economyincrisis.org/…/trans-pacific-partnership-tpp-…
Seems like The link is dead...
Is this link the above article ? http://webcache.googleusercontent.com/search?q=cache:eHyrwruZUhQJ:www.citizen.org/documents/TPP-PreSOTU-Facts-Figures.pdf+&cd=1&hl=vi&ct=clnk
I think this is it; yes looks like the same.
Trans-Pacific Partnership (TPP) Facts and Figures for SOTU Prep
January 13, 2016 Public Citizen
http://economyincrisis.org/content/trans-pacific-partnership-tpp-facts-and-figures-for-sotu-prep
President Barack Obama is expected to prioritize the Trans-Pacific Partnership (TPP) in his State of the Union address. The TPP text was finally released in November after seven years of secretive talks during which this Washington Post infographic shows 500 U.S. trade advisors representing corporate interests had special access. Congress, the public and press were shut out. Now everyone can read the controversial deal that could undermine many landmark achievements of Obama’s presidency and thus his legacy on jobs and economic recovery, climate, healthcare access, gay equality, financial reform, the U.S. auto industry rescue and more. Only six of the TPP’s 30 chapters deal with traditional trade matters. As this recent New Yorker piece describes, the rest require limits on food, financial and other regulations, provide drug firms new monopolies and expand the contentious investor-state dispute settlement system.
Zero U.S. Economic Growth from TPP:
The Department of Agriculture issued the administration’s only major study on TPP’s economic impact and found it would result in 0.00% increased U.S. growth if all tariffs on all products were eliminated, which did not occur. The United States already has free trade deals in place with Canada, Mexico, Peru, Australia, Chile, and Singapore, which collectively represent over 80 percent of the trade counted in the oft-touted line about the TPP covering 40 percent of world trade. Even the major pro-TPP study found that in 2025 U.S. growth rates only would be .4 percent higher with TPP in effect – even using a model that assumed full employment and no increased income inequality. Yet, since the 1940s, standard economic theory has held that trade liberalization is likely to increase inequality in developed countries like the United States.
Increased Income Inequality:
A recent study finds the TPP would spell a pay cut for all but the richest 10 percent of Americans by exacerbating income inequality, as past trade deals have done. That would contradict Obama’s 2015 SOTU inequality reduction goal. Macroeconomic theory predicts if Americans face more competition from workers in Vietnam who make less than 65 cents/hour, wages will be pushed down. Sixty percent of manufacturing workers losing jobs to trade who find reemployment face pay cuts, with one in three losing more than 20 percent, per U.S. DoL data. There is academic consensus trade has contributed to the major rise in inequality.
American Jobs at Risk:
The TPP includes rules that make it cheaper and less risky to offshore U.S. jobs to low wage nations. The pro-free trade Cato Institute calls these investor protections a subsidy on offshoring. The administration stopped claiming the TPP would create jobs after a four Pinocchio rating by the Washington Post fact checker. Since the North American Free Trade Agreement (NAFTA), more than 57,000 U.S. manufacturing facilities have closed and five million U.S. manufacturing jobs–one in four–were lost with more than 875,000 U.S. workers certified under just one narrow U.S. Department of Labor program.
and much more on the link
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