General Discussion

diabeticman

(3,121 posts) Wed Apr 15, 2015, 09:44 AM Apr 2015

Question on the TPP.

My wife has been explaining this too me and we just watch the youtube clip of Elizabeth Warren on the Senate floor and it made me wonder could this be worse than what people are saying is the worse?

My question and from what I am understanding-- Say a corporation doesn't like the 15 dollar Min Wage Seattle, Washington passed and takes the steps to sue that city. Could that panel than order such a high fine that a city gets bankrupt or even basically make a town/city into a company town in which the city is owned by the Corporation or am I not fully understanding?

5 replies

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Question on the TPP. (Original Post) diabeticman Apr 2015 OP

That's what it looks like to me. Corporate lawyers wrote this thing, djean111 Apr 2015 #1

Governments will become obsolete. GeorgeGist Apr 2015 #2

And it doesnt even have to be an Amercian Corporation! bunnies Apr 2015 #3

Actually, this means that foreign signatories can sue. An American company would djean111 Apr 2015 #5

The main issue is that we don't know el_bryanto Apr 2015 #4

djean111

(14,255 posts)

1. That's what it looks like to me. Corporate lawyers wrote this thing,

Reply to diabeticman (Original post)

Wed Apr 15, 2015, 09:54 AM

Apr 2015

and corporations will benefit from it. The suit would have to come from a corporation based out side of the US. That would seem to include a lot of corporations who have moved out for tax purposes. My understanding is that anything that affects profits will be fair game, and I feel confident that somewhere, some lawyers are already planning to go beyond those stupid regulations and labels, and go for the gold of dictating wages or possible not having to pay the company's share of social security.

GeorgeGist

(25,319 posts)

2. Governments will become obsolete.

Reply to diabeticman (Original post)

Wed Apr 15, 2015, 09:59 AM

Apr 2015

bunnies

(15,859 posts)

3. And it doesnt even have to be an Amercian Corporation!

Reply to diabeticman (Original post)

Wed Apr 15, 2015, 10:03 AM

Apr 2015

A foreign company would be allowed to challenge any of our laws they and we, the taxpayers, will foot the damn bill.

Its fucking absurd!

djean111

(14,255 posts)

5. Actually, this means that foreign signatories can sue. An American company would

Reply to bunnies (Reply #3)

Wed Apr 15, 2015, 11:57 AM

Apr 2015

have to set up headquarters in one of the signatory countries in order to sue. And, of course, they will.

el_bryanto

(11,804 posts)

4. The main issue is that we don't know

Reply to diabeticman (Original post)

Wed Apr 15, 2015, 10:07 AM

Apr 2015

We are assured that there are safe guards in it to prevent it from stretching to cover these situations. And they maybe in there; I don't see any percentage in allowing foreign companies to dictate local and state laws. But we don't know, because the negotiations are secret. And given how previous free trade laws have worked out, there is a reasonable concern that this will end up making life harder for American workers and doing damage to the environment.

Bryant

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