It says that the wealth of billionaires grew at an average rate of four percent a year in the two decades before the 2008-2009 financial crisis.
Conveniently leaving out how much shrinkage there was AFTER the 2008-2009 financial crisis.
Posted on 07/06/2012 4:04:28 PM PDT by Beave Meister
The United Nations on Thursday called for a tax on billionaires to help raise more than $400 billion a year for poor countries.
An annual lump sum payment by the super-rich is one of a host of measures including a tax on carbon dioxide emissions, currency exchanges or financial transactions proposed in a UN report that accuses wealthy nations of breaking promises to step up aid for the less fortunate.
The annual World Economic and Social Survey says it is critical to find new ways to help the world's poor as pledged cash fails to flow.
The report estimates that the number of people around the globe worth at least $1 billion rose to 1,226 in 2012.
There are an estimated 425 billionaires in the United States, 315 in the Asia-Pacific region, 310 in Europe, 90 in other North and South American countries and 86 in Africa and the Middle East.
Together they own an estimated $4.6 trillion so a one percent tax on their wealth would raise more than $46 billion, according to the report.
"Would this hurt them?" it questioned.
"The 'average' billionaire would own $3.7 billion after paying the tax. If that billionaire spent $1,000 per day, it would take him or her over 10,000 years to spend all his or her wealth," the report says.
It says that the wealth of billionaires grew at an average rate of four percent a year in the two decades before the 2008-2009 financial crisis.
"If that rate of growth returned with no wealth tax, the average billionaire's wealth would double in less than 18 years."
(Excerpt) Read more at ca.news.yahoo.com ...
That organization needs to be slammed into history by any means and soon!
Tear down the greatest edifice in the world, and all the poor people get maybe an extra half a brick each.
Which is easy to throw and take down the next greatest edifice.
Their work shall never be done, as in demolishing the last edifice.
The broke governments of the West are already eying that money for their own budgets, and won't let the UN take it.
After all, even if you confiscated 100% of all Billionaires wealth you couldn't pay off the deficit for one year. That leaves nothing left over for the UN.
I have a counter offer. Each time a government or world body proposes a new tax, it must remove an equal percentage of laws off the books as it deigns to tax on a targetted group.
Let’s see. The UN collects 400 billion a year for the poor. By the time all the UN officials take their cuts, then the governments of the poor take their cuts, that will leave about $1.62 to give to the worlds’ poor.
Hey, the UN could even appoint Joe Biden to oversee the program to make sure there’s no funny business and the money goes directly to those most in need.
Because, you know, “Nobody Messes With Joe!”
IMHO, the “billionaires” need to get together to form an army and air force to take out the blue helmeted U.N. fags. Just an idea. A pre-emptive strike by their army on the U.N. would be a real hoot to watch. Blue-helmeted baby rapers running like bunnies.
I think this tax is a great idea. It should be worded like this:
If the U.N. building is still standing in one year, then tax all the billionaires 1%.
"Oil for Food" worked so well with Kofi Annan's son managing it!
Unfortunately for these UN mavens, I remember another (only a single example of many) the “Oil for Food” SCANDAL! Money to give the Iraqi poor food went instead to UN corruption and Sadam’s military.
There is no end to pie-in-the-sky schemes to distribute other people’s money. Take it as you will, UNLESS that money was illegally gotten, it does NOT BELONG TO THOSE WHO WOULD REDISTRIBUTE IT!
Thus to these UN scalawags - redistribute your own money and otherwise STFU!
You and I have good memories! “Oil for Food”!
I can remember "Oil for Food" - I just wish I could remember where I put my shoes...
At least it sounds like FUUN...
It says that the wealth of billionaires grew at an average rate of four percent a year in the two decades before the 2008-2009 financial crisis.
Conveniently leaving out how much shrinkage there was AFTER the 2008-2009 financial crisis.
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