Economist David Rosnick writes median wage earners would actually see a drop in salary due to implementation of the TPP once its effect on wage inequality is considered. Overall, the U.S. would only receive a 0.13 percent boost in gross domestic product (GDP) by 2025.Longer term, the negatives are even greater. The document finds that wage losses from a failure to restore full employment in the U.S. by 2025 due to the TPP are 25 times more than the potential gains from the trade agreement. Mark Weisbrot, CEPR’s co-director, says:
Most U.S. workers are likely to lose out from the TPP. This may come as no surprise after 20 years of NAFTA and an even-longer period of trade policy designed to put lower- and middle-class workers in direct competition with low-paid workers in the developing world, but it’s still important to examine the economic projections.
It doesn’t take a mathematician to figure it out -- these trade pacts suck for U.S. workers. While corporations tout economic gains, the only ones profiting are big business. It’s time to stop shipping American jobs overseas and dumping wages and benefits overboard with them.
When the U.S. negotiates a trade agreement, every provision should benefit working families, not big corporations. And the TPP doesn't pass the smell test.