Apple’s Ireland subsidiary paid an Irish tax rate of five one hundredths of one percent in 2014, slightly above zero. The U.S. statutory corporate tax rate is 35% while the effective rate (what corporations pay on average) is 27.1%. Ireland is widely regarded as a tax haven country. It sells itself as a haven for…
by Michael Stumo President Obama received strong support from black and Hispanic workers but his TPP will hurt them even more than white workers. The TPP will kill jobs because our workers will be placed in direct competition with foreign workers, some of whom make 90% less than Americans. More education is fine, but mathematically…
[ Robert E. Scott| September 08, 2016 | EPI] The White House is making one last push for passage of the Trans-Pacific Partnership agreement. However, growing imports of goods from low-wage, less-developed countries, which nearly tripled from 2.9 percent of GDP in 1989 to 8.4 percent in 2011, reduced the wages of the typical non-college educated worker…
[ Daily News| September 08, 2016 | Inside US Trade] Senate Finance Committee Chairman Orrin Hatch (R-UT) this week said commitments from Trans-Pacific Partnership countries on his demand for 12 years of market exclusivity for biologic drugs would not have to be framed in a contract or a side agreement – but rather as a “methodology”…
by Michael Stumo In a significant development, over 200 law and economics professors across the United States oppose the Trans-Pacific Partnership (TPP) treaty and the TransAtlantic Trade and Investment Partnership (TTIP) because they grant new power to foreign corporations to sue the United States outside the regular court system. Their letter is significant not only…
WASHINGTON, D.C. – A new Public Citizen interactive map shows how enactment of the Trans-Pacific Partnership (TPP) would dramatically expand U.S. exposure to multinational corporate demands for taxpayer compensation using the controversial “investor state dispute settlement” (ISDS) system. [Matthew Groch| September 08, 2016 | Public Citzen] Under existing treaties, relatively few foreign investors are empowered to use…
[ Daily News| August 7, 2016 | Inside US Trade] Updated on Sept. 9 at 6 pm: Heads of trade associations from Washington D.C. offices and executives from major companies on Sept. 8 will meet with Obama administration officials at the White House, where sources say the administration will urge attendees to step up lobbying efforts…
[ David Dayen| August 30, 2016 | Alternet] A secretive super-court system called ISDS is threatening to blow up President Barack Obama’s highest foreign policy priority. Investor-state dispute settlement — an integral part of the Trans-Pacific Partnership trade deal — allows companies to sue entire countries for costing them money when laws or regulations change.…
[ September 06, 2016 | Democracy Now] At the G20 summit, President Obama also tried to assure Asian nations that the United States would, in fact, ratify the Trans-Pacific Partnership, despite mounting opposition. President Barack Obama: “On the merits, it is smart for America to do it. And I have yet to hear a persuasive…
[ Adam Behsudi| September 07, 2016 | Politico] The list of groups coming out against the TPP as it currently stands continues to get longer, with two new organizations — Consumers Union and the Consumer Federation of America — writing letters to Congress on Tuesday urging lawmakers to state their opposition to the deal. Consumers Union is…
