Skip to comments.World Health Organization Moving Ahead on Billions in Internet and Other Taxes...
Posted on 05/11/2010 10:27:28 AM PDT by TaraP
The World Health Organization (WHO), the United Nations' public health arm, is moving full speed ahead with a controversial plan to impose global consumer taxes on such things as Internet activity and everyday financial transactions like paying bills online while its spending soars and its own financial house is in disarray.
The aim of its taxing plans is to raise "tens of billions" of dollars for WHO that would be used to radically reorganize the research, development, production and distribution of medicines around the world, with greater emphasis on drugs for communicable diseases in poor countries.
The irony is that the WHO push to take a huge bite out of global consumers comes as the organization is having a management crisis of its own, juggling finances, failing to use its current resources efficiently, or keep its costs under control and it doesn't expect to show positive results in managing those challenges until a year from now, at the earliest...
(Excerpt) Read more at foxnews.com ...
So they want us to pay double tax?
How are they going to Tax Internet Activity?
Something like 90% of this “tax” will be on the US I bet.
What jurisdition and sovereignty do they have to tax us?
I don’t see how the WHO will have the authority since the US Chamber of Commerce CONTROLS the internet.
We already pay taxes to our ISP Provider now, this means they want a double tax.
I thought Obozo is trying to control the Internet....
Wre already pay taxes on our Internet Activity to our ISP providers....
I am sure they will jack up their Internet Rates....
Another PS,BW,HS grab. At what point did the UN envision, create, pay for and initiate anything to do with the vision of the internet?
..Bugger muslim army is grasping for American taxpayer money another way.
The Health Assembly, a medical version of the United Nations General Assembly, will be invited to “take note” of the experts’ report. It will then head back with that passive endorsement to another Executive Board meeting, which begins May 22, for further action. It is the Executive Board that will “give effect” to the Assembly’s decisions.
What it all means is that a major lobbying effort could soon be underway to convince rich governments in particular to begin taxing citizens or industries to finance a drastic restructuring of medical research and development on behalf of poorer ones.
The scheme would leave WHO in the middle, helping to manage a “global health research and innovation coordination and funding mechanism,” as the experts’ report calls it.
In effect, the plan amounts to a pharmaceutical version of the U.N.-sponsored climate-change deal that failed to win global approval at Copenhagen last December. If implemented as the experts suggest, it could easily involve the same kind of wealth transfers as the failed Copenhagen summit, which will send $30 billion a year to poor nations, starting this year.
“while its spending soars and its own financial house is in disarray.”
Sounds like the U.S. government. How much more of this do they think the public is going to tolerate?
“What jurisdition and sovereignty do they have to tax us? “
They have Obama, who is a criminal.
And how exactly do they think they are going to do this? The only way they could is if the American government cooperated with this robbery and added some kind of world tax on us and helped them collect it.
And that is proably what Obama will do....
A Ravenous Wolf slowly peeling off his sheep’s clothing....
We're a sovereign nation. They have no right to impose anything. We did not elect them to represent us.
Tax changes in US planned to ease financial burden on foreign commercial property investors
News - Latest
Written by Ray Clancy
Wednesday, 28 April 2010 12:00
A plan to lower or get rid of US taxes currently imposed on foreign investors in the commercial real estate market is being considered.
But it is feared that Tax breaks may not be enough of a sweetener to bring foreign buyers back into the floundering US property market, where falling rents, rising vacancies, a scarcity of debt financing and lack of property for sale have acted as deterrents.
The Real Estate Revitalization Act of 2010 is designed to stir demand by foreigners and in turn lift prices and encourage even more buying by alleviating the US tax burden imposed upon foreign sellers. The number of commercial property deals fell by 55% in 2009 after falling 62% the previous year.
Currently the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) imposes US capital gains taxes on foreign sellers of US real estate but such taxes are not imposed on foreigners who sell US stocks and bonds.
FIRPTA, sponsored by then Wyoming Senator Malcolm Wallop, was a response to a wave of German investors who bought up ranch property in the Western US. Prior to that, when a foreigner sold US property, he generally was not taxed where the real estate was located, but rather was taxed in his home country.
But FIRPTA did not inhibit foreign owners from buying property during the U.S. commercial real estate boom of 2004 to 2007. They used complicated legal structures to mitigate the taxes.
Although the 2010 legislation seeks to make things a bit easier for foreign sellers, it would not change taxes on direct ownership, a popular form of investment. It chiefly affects the taxes on selling shares of companies that own the property.
If a foreigner owns shares of a company in which real estate comprises more than 50 percent of its assets, that investor would not be subject to US capital gains taxes upon the sale of that stock.
Under the Real Estate Revitalization Act, the sale of property by a Real Estate Investment Trust (REIT) would no longer be treated as capital gains for a foreign investor but as ordinary dividends. Although those face a 30% dividend distribution tax, many countries have treaties with the US that reduce or eliminate that tax.
The new bill also would treat the sale of stocks by foreigners of a REIT that is less than half foreign owned as a stock sale and not subject to US taxes.
The Real Estate Roundtable, an industry trade group, said it hopes the changes would lure about $100 billion sitting on the sidelines back into the US commercial property market.
That combined with even 50 percent debt financing would bring enormous purchases and thereby stabilize what have been falling values of US commercial real estate, said Robert Schachat, vice chairman of the Real Estate Round Table Tax Policy Advisory Committee.
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