Debbie Wasserman Schultz' Failed Leadership Facilitated Passage of Fast-Track

Hugh J. Campbell

Hugh J. Campbell Son of a steelworker, Philadelphia, Pa.

The Sept. 21, 2014 article Dems turn on Wasserman Schultz reports that the perception of critics is that Debbie Wasserman Schultz spends more energy tending to her own political ambitions than helping Democrats win. This includes using meetings with DNC donors to solicit contributions for her own PAC and campaign committee, traveling to uncompetitive districts to court House colleagues for her potential leadership bid and having DNC-paid staff focus on her personal political agenda.

The 2014 mid-term election resulted in a loss of 13 Democratic House seats and 9 Democratic Senate seats. As disconcerting as this appeared to the Obama White House, the Republican representatives and Senators who gained these seats more than provided President Obama with the margin of victory necessary to pass Fast Track in June 2015, which improved his chances to get  the Trans-Pacific Partnership (TPP) trade deal passed. 

The Dec. 31, 2014 article Obama Eyes Smoother Ride in New Congress on Trade Deals confirmed the silver lining for President Obama in the dark cloud of the 2014 midterm elections was that with Republicans holding control of Congress, chances to move forward on approval of trade promotion authority (TPA) and other key trade deals greatly improved.

Debbie Wasserman Schultz maintaining her DNC leadership position until just recently, raises the question: Were the Democratic 2014 mid-term losses by design in order to give President Obama enough votes to pass Fast Track, thereby greasing the way for passage of the Trans-Pacific Partnership (TPP)?

***

To submit a blog to Union Matters, e-mail it to bstack@usw.org. Keep it to 250 words or fewer. You MUST include your full name, hometown, and state. You may attach a photograph of yourself. Please include a phone number. This WILL NOT be published. Posting any given blog is within the discretion of the USW. No blog using foul language (this is a family site), false information (we don’t want to get sued), or unnecessary personal attacks (again, we don’t want to get sued) will be used. Wait a reasonable period of time, then blog again!

Hugh Campbell is a seasoned financial professional, currently providing subject matter expertise on a variety of regulatory topics, including the Dodd-Frank Act, the Foreign Account Tax Compliance Act (FATCA) and overall compliance monitoring. Hugh has previously held positions as Chief Risk Officer (CRO), Chief Audit Executive (CAE) and Director of Sarbanes-Oxley (SOX) Compliance.

Posted In: Union Matters

Union Matters

America’s Wealthy: Ever Eager to Pay Their Taxes!

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

Why do many of the wealthiest people in America oppose a “wealth tax,” an annual levy on grand fortune? Could their distaste reflect a simple reluctance to pay their fair tax share? Oh no, JPMorganChase CEO Jamie Dimon recently told the Business Roundtable: “I know a lot of wealthy people who would be happy to pay more in taxes; they just think it’ll be wasted and be given to interest groups and stuff like that.” Could Dimon have in mind the interest group he knows best, Wall Street? In the 2008 financial crisis, federal bailouts kept the banking industry from imploding. JPMorgan alone, notes the ProPublica Bailout Tracker, collected $25 billion worth of federal largesse, an act of generosity that’s helped Dimon lock down a $1.5-billion personal fortune. Under the Elizabeth Warren wealth tax plan, Dimon would pay an annual 3 percent tax on that much net worth. Fortunes between $1 billion and $2.5 billion would face a 5 percent annual tax under the Bernie Sanders plan.

***

More ...

No Such Thing as Good Greed

No Such Thing as Good Greed