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Obama Endorses Global Taxes on Eve of U.N. Summit
Gulag Bound ^ | September 17, 2010 | Cliff Kincaid

Posted on 09/17/2010 7:00:06 AM PDT by unspun

In a classic case of misdirection, while the media are preoccupied with the fate of the Bush tax cuts, President Obama is preparing to attend a United Nations summit next week to endorse “innovative finance mechanisms”—global taxes—to drain even more wealth out of the U.S. economy.

A draft “outcome document” produced in advance of the September 20-22 U.N. Summit on the Millennium Development Goals (MDGs) commits the nations of the world to supporting “innovative financing mechanisms” to supplement foreign aid spending.

The term “innovative financing mechanisms” is a U.N. euphemism for global taxes. But the document actually goes further, praising the “Task Force on International Financial Transactions for Development” for its work on the subject of mobilizing additional “resources” for countries to achieve the MDGs. This is a body tasked with proposing and implementing global tax schemes.

“We consider,” the document says, “that innovative financing mechanisms can make a positive contribution in assisting developing countries to mobilize additional resources for financing for development on a voluntary basis. Such financing should supplement and not be a substitute for traditional sources of financing.”

In other words, the revenue from global taxes should be in addition to foreign aid spending.

The document recognized the “considerable progress” made in this area, an acknowledgement that an international tax by some nations on airline tickets is already in effect and producing several billions of dollars of revenue for world organizations to fight AIDS and other diseases.

In an article in The Christian Science Monitor, under the headline, “Small global taxes would make a big difference for world’s ‘bottom billion,’” the foreign minister of France and other officials of foreign nations endorse various forms of “innovative development financing.” One of their proposals is a tax on international currency transactions that could generate $35 billion a year.


caption information deleted for FR formatting

The proposal, popular at the United Nations for decades and long-advocated by Fidel Castro, is called the Tobin Tax and named after Yale University economist James Tobin. Steven Solomon, a former staff reporter at Forbes, said in his book, The Confidence Game, that such a proposal “might net some $13 trillion a year…” because it is based on taking a percentage of money from the trillions of dollars exchanged daily in global financial markets.

He is referring to the fact that once such a tax is in place, it could be easily raised to bring in hundreds of billions of dollars or more a year to the U.N. and other global institutions.

Such financial transactions through banks and other financial institutions are commonplace on behalf of Americans who have stock in mutual funds or companies that invest or operate overseas. Hence, such a global tax could affect the stocks, mutual funds, and pensions of ordinary Americans.

The term “small global taxes” brought a stunned reaction from Senator David Vitter, when he was told of what is being proposed in advance of the U.N. summit. Vitter introduced Senate resolution 461, “Expressing the sense of the Senate that Congress should reject any proposal for the creation of a system of global taxation and regulation,” to put the Senate on record against any such measure. He has vowed to maintain pressure on the world body to avoid implementing any of these schemes and thinks that the Congress has to use whatever financial leverage it has to frustrate U.N. demands for more power and authority in world affairs.

The Vitter resolution was sent to the liberal-controlled Senate Finance Committee, which declined to act on it.

Obama has been a major U.N. supporter since he was in the Senate and sponsored a bill, the Global Poverty Act (S 2433), to force U.S. compliance with the MDGs. Joseph Biden, then chairman of the Senate Foreign Relations Committee, tried to get it passed into law but ultimately failed.


caption information deleted for FR formatting

As President, Obama is in a position to actively promote global taxation measures and clearly has done so. The “outcome document” his administration has already endorsed will be formally approved at next week’s summit.

The document affirms the so-called “Monterrey Consensus” that committed nations to spending 0.7 percent of Gross National Product (GNP) on official development assistance (ODA), otherwise known as foreign aid. It says that “The fulfillment of all ODA commitments is crucial, including the commitments by many developed countries to achieve the target of 0.7 percent of gross national product (GNP) for ODA to developing countries by 2015…”

Over a 13-year period, from 2002, when the U.N.’s Financing for Development conference was held, to the target year of 2015, when the U.S. is expected to meet the Millennium Development Goals, this amounts to $845 billion from the U.S. alone, according to Jeffrey Sachs of the U.N.’s Millennium Project.

“We have fully embraced the Millennium Development Goals,” Obama told the U.N. in 2009.



Cliff Kincaid is the Editor of Accuracy in Media, and may be contacted cliff.kincaid@aim.org.

Graphic images added by Gulag Bound


TOPICS: Breaking News; Constitution/Conservatism; Crime/Corruption; Foreign Affairs; Front Page News; Government; Politics/Elections
KEYWORDS: bho44; bhofascism; bhotreason; bhotyranny; democrats; elections; globalgovernance; globaltaxes; independence; kleptocracy; liberalfascism; lping; obama; redistribution; ripusa; sovereignty; spreadthewealth; stealthewealth; taxcheatparty; taxes; teaparty; tobintax; treason; tyranny; un; unitednations; worldgovernment
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Read Cliff Kincaid and flip the siren switch.

We are at war vs. treasonous global Marxofascists, including those in the White House and chambers of Congress.

Call it soft war, if you need. It is war against America.

Humbly suggest you email, tweet, facebook, etc., to spread the word, from Gulag Bound's tools for this.

1 posted on 09/17/2010 7:00:08 AM PDT by unspun
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To: unspun

he is ruler of the globe? what preposterous nonsense


2 posted on 09/17/2010 7:02:10 AM PDT by yldstrk (My heros have always been cowboys)
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To: 1035rep; amom; Arthur Wildfire! March; azkathy; betty boop; bitt; boxlunch; cj in tx; Clump; ...
FR Ping List for GulagBound.com, Investigating Obama, & "The Awakening"

Please reply or FReepmail, if you want on or off this list.

Please ask your candidates and politicians The Three Sovereignty Now Questions.

3 posted on 09/17/2010 7:03:22 AM PDT by unspun (It's the Sovereignty, Stu... um... art. | WE ARE GULAG BOUND)
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To: unspun
All he has to do is to sign an agreement and we are hosed, however illegal that might be.
4 posted on 09/17/2010 7:04:40 AM PDT by Carry_Okie (The fourth estate IS the fifth column.)
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To: unspun

http://www.youtube.com/watch?v=2_OzLHKFN5s


5 posted on 09/17/2010 7:05:13 AM PDT by terjon
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To: unspun

But will they affect people making less than $250,000 a year?


6 posted on 09/17/2010 7:05:23 AM PDT by Stosh
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To: unspun

Get the UN out of America. We should withdraw as members. Let them tax each other to death.


7 posted on 09/17/2010 7:07:20 AM PDT by Rapscallion (Obama - Arrogant, blaming, incompetent, anti-American, Muslim,racist, and Marxist....Is that enough?)
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To: unspun

This is 21st century theft and treason.


8 posted on 09/17/2010 7:08:34 AM PDT by paulycy (Demand Constitutionality: Islamo-Marxism is Evil.)
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To: unspun

Theoretically this would require the consent of Obama AND two thirds of the Senate.

Theoretically.


9 posted on 09/17/2010 7:10:06 AM PDT by delapaz
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To: unspun

This guy is giving out Free Ammo to the T-Party and Operation Chaos.


10 posted on 09/17/2010 7:10:54 AM PDT by screaminsunshine (counter revolutionary)
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To: unspun

The power to tax is the power to destroy.


11 posted on 09/17/2010 7:11:55 AM PDT by allmendream (Income is EARNED not distributed. So how could it be re-distributed?)
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To: unspun

Obama...Dreams FROM his father....


12 posted on 09/17/2010 7:12:10 AM PDT by Don Corleone ("Oil the gun..eat the cannolis. Take it to the Mattress.")
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To: delapaz

Unless we get a Shoveling Money To The U.N.Czar.


13 posted on 09/17/2010 7:14:49 AM PDT by wiggen (The teacher card. When the racism card just won't work.)
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To: unspun

George Bush championed the millenium fund, he declared the millenium challenge and created a millenium fund funded by American taxpayers with condoleeza rice on its board to redistribute our wealth to foreign governments and global corporations without the oversight of congress.

Obama isn’t doing anything new.


14 posted on 09/17/2010 7:14:58 AM PDT by hedgetrimmer
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To: unspun

Having read the article that claims that 0bama is essentially an anti-colonialist, all of this makes perfect sense.

What makes no sense at all is how the American people elected this man.


15 posted on 09/17/2010 7:15:13 AM PDT by henkster (A broken government does not merit full faith and credit.)
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To: unspun

What an UNsurprise from the traitorous jerk.


16 posted on 09/17/2010 7:16:56 AM PDT by Quix (PAPAL AGENT DESIGNEE: Resident Filth of non-Roman Catholics; RC AGENT DESIGNATED: "INSANE")
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To: henkster

just shows Americans can be fooled in the same manner as the german population was fooled by the nazis


17 posted on 09/17/2010 7:18:25 AM PDT by yldstrk (My heros have always been cowboys)
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To: unspun

Gotta watch this one!


18 posted on 09/17/2010 7:18:39 AM PDT by bushwon ("If you think healthcare is expensive now, wait till it is free"--PJ O'rourke)
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To: unspun

“Obama Endorses Global Taxes on Eve of U.N. Summit”

Do you think if the GOP takes both House and Senate that we will really be saddled with this douche until 2012?


19 posted on 09/17/2010 7:18:39 AM PDT by Grunthor (Name one country with a muslim majority that doesn't have brutal, repressive laws.)
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To: paulycy
Signing Ceremony for Millennium Challenge Corporation's Compact with the Republic of Ghana

About MCC
20 posted on 09/17/2010 7:19:44 AM PDT by hedgetrimmer
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To: Don Corleone
Obama...Dreams FROM his father....SATAN.............

There, fixed it................

21 posted on 09/17/2010 7:20:11 AM PDT by Red Badger (No, Obama's not the Antichrist. But he does have him in his MY FAVES.............)
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To: unspun

“It is war against America.” Indeed and it also shifts the power base firmly towards the UN.

Who will be grateful and act accordingly towards the US if the money is coming via the UN? Countries who act nicely towards the US because of your support and generosity will no longer do so. Influence and power will be the UN’s which is what the Marxists have wanted for a long time.

If this happens, then mark my words, it is the beginning of the end!

Mel


22 posted on 09/17/2010 7:20:11 AM PDT by melsec
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To: unspun

Does anybody else wonder why we still support the UN?

It tries to undermine the Constitution of the USA and
would love to cripple our Constitutional Republic.

In over 60 years the only politicians who tried to get
the USA out of the UN were Goldwater and President
Ronald Reagan who did kick UNESCO out.
GW Bush invited UNESCO back in 2002.

16 out of 17 of the AMERICANS that were involved
in creating the UN were later identified, in sworn
testimony, as secret communist agents.

Alger Hiss was Secretary-General of the United Nations
Conference on International Organization, held in April
to June 1945.

Alger Hiss served time in prison pursuant to his
involvement in a Communist spy ring.

Many of the other AMERICANS that were involved in
creating the UN fled the country, to avoid prosecution.

The ONE AMERICAN, that was involved in creating the UN;
and was NOT later identified, in sworn testimony, as a
secret communist agent, was Dean Acheson.
Dean Acheson’s law firm was the legal representative of
the Soviet Union, in US courts.

If the AMERICANS that were involved in creating the UN
were Communists, what do you think we got from the rest
of the world?


23 posted on 09/17/2010 7:21:57 AM PDT by HuntsvilleTxVeteran ((B.?) Hussein (Obama?Soetoro?Dunham?) Change America Will Die From.)
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To: unspun

Again, Obama said he wanted this before he was elected. Why are people shocked that he is trying to do what he said he would?

FUBO


24 posted on 09/17/2010 7:21:57 AM PDT by ilovesarah2012
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To: unspun

O is the global Imam.


25 posted on 09/17/2010 7:22:53 AM PDT by vanilla swirl (We are the Patrick Henry we have been waiting for!)
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To: unspun
The proposal, popular at the United Nations for decades and long-advocated by Fidel Castro, is called the Tobin Tax and named after Yale University economist James Tobin. Steven Solomon, a former staff reporter at Forbes, said in his book, The Confidence Game, that such a proposal “might net some $13 trillion a year…” because it is based on taking a percentage of money from the trillions of dollars exchanged daily in global financial markets.

Well if it is approved by Castro it has to be good. Look at his fine economy. < /do I have to say it?>

Accroding to Wikipedia (yes, I know the warnings) the gross world product is $58 trillion dollars, so this proposed tax would be 22% of everything produced in the world.

The Tobin Tax in a farcical example of static analysis. They pretend that by placing a tax in the range of 0.5% like Tobin originally suggested that there will be no effect on the volume of trade. Much of the trades are based on differences in values in different markets in the hundredth of a percent range (Gold is $1270 in New York and $1269.90 in London? Sell the New York gold and buy London gold!) Apply a tax of 0.5% ($6 an ounce) and that trade will never happen - never! If a 0.5% tax is put on financial transactions I wouldn't be surprised to see those transactions drop by 95% or more. Poof, there goes that $13 trillion the UN wanted to steal from the productive people of the world.

26 posted on 09/17/2010 7:23:13 AM PDT by KarlInOhio (Gun control was originally to protect Klansmen from their victims. The basic reason hasn't changed.)
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To: unspun

*


27 posted on 09/17/2010 7:23:24 AM PDT by PMAS
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To: henkster

There is something in the back of my simple mind that says if you look deep enough into the UN and its members, everyone there has a litle GS tattooed on their heads.


28 posted on 09/17/2010 7:23:56 AM PDT by EQAndyBuzz (Remember March 23, 1775. Remember March 23, 2010)
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To: unspun

Global taxes are just another way of transferring wealth from countries that earned it to countries that gladly accept it and continue the practices that made them poor nations.

These people are obsessed with transfer of wealth from those who earn it to those who lie around complaining about being poor.


29 posted on 09/17/2010 7:25:21 AM PDT by Leftism is Mentally Deranged (Annoying liberals is my goal. I will not be silenced.)
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To: unspun
“We consider,” the document says, “that innovative financing mechanisms can make a positive contribution in assisting developing countries to mobilize additional resources for financing for development on a voluntary basis. Such financing should supplement and not be a substitute for traditional sources of financing.”

I'm not certain, but I think they're talking about financing.

30 posted on 09/17/2010 7:25:59 AM PDT by edpc (It's Kräusened)
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To: unspun

Good luck getting that through Congress next year, Barry.


31 posted on 09/17/2010 7:30:41 AM PDT by Virginia Ridgerunner (Sarah Palin has crossed the Rubicon!)
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To: edpc
I'm not certain, but I think they're talking about financing.

financing UN initatives

32 posted on 09/17/2010 7:40:32 AM PDT by unspun (It's the Sovereignty, Stu... um... art. | WE ARE GULAG BOUND)
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To: unspun
No taxation without representation. We're a sovereign nation. Other countries don't represent us and our interests.

It sounds like we're going to have a huge influx of new TEA party voters.

33 posted on 09/17/2010 7:42:42 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: Stosh

250 thousand dollars equals about 20 million Kenyan shillings.


34 posted on 09/17/2010 7:42:53 AM PDT by Mojave (Ignorant and stoned - Obama's natural constituency.)
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To: unspun

I don’t know.....the overuse of the word in two sentences didn’t make it all that clear.


35 posted on 09/17/2010 7:44:02 AM PDT by edpc (It's Kräusened)
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To: unspun

Yes, he sponsored the Global Poverty Act in 2008. Yes he is still pushing it today.


36 posted on 09/17/2010 7:45:46 AM PDT by IrishCatholic (No local Communist or Socialist Party Chapter? Join the Democrats, it's the same thing!)
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To: concerned about politics

That FORBES article makes more sense every day...


37 posted on 09/17/2010 7:47:58 AM PDT by TigerClaws
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To: unspun

Need to bang this drum loudly between now and 11/02/10. Tie zer0 and hence the dims running for reelection to this UN global entanglement and financial obligation.

The electorate is not at all in the mood right now for this nonsense.


38 posted on 09/17/2010 7:49:10 AM PDT by bereanway
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To: Grunthor
Do you think if the GOP takes both House and Senate that we will really be saddled with this douche until 2012?

yep...sadly...

39 posted on 09/17/2010 7:51:14 AM PDT by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
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To: hedgetrimmer

I’m a little confused, this is a State Dept program right? It is at least one step better than the UN being in control of how much we pay and to whom.


40 posted on 09/17/2010 7:55:32 AM PDT by paulycy (Demand Constitutionality: Islamo-Marxism is Evil.)
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To: KarlInOhio

cosidering the amount of money being traded by fund managers, that get a cut off the top of 401s and such, they would still make the trades...the retirees accounts will take the hit behind closed doors...


41 posted on 09/17/2010 7:58:09 AM PDT by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
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To: unspun
Just lovely. Another 115 Billion PER YEAR flushed down the rabbit hole.

Also known as another 345 dollars per year for every man, woman, and child in the country.

42 posted on 09/17/2010 7:58:47 AM PDT by Drill Thrawl (Rahm and George at Doe's when the knife came down)
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To: edpc
I don’t know.....the overuse of the word in two sentences didn’t make it all that clear.

It's written to prevent you from knowing.

43 posted on 09/17/2010 7:59:08 AM PDT by unspun (It's the Sovereignty, Stu... um... art. | WE ARE GULAG BOUND)
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To: unspun
Obomanomics has put 1 in 7 Americans in poverty, and he's talking about world welfare?
I think Oboma isn't quite right in the head. I think he's clinical.
44 posted on 09/17/2010 8:09:01 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: Abathar; Abcdefg; Abram; Abundy; akatel; albertp; AlexandriaDuke; Alexander Rubin; Allerious; ...



Libertarian ping! Click here to get added or here to be removed or post a message here!
View past Libertarian pings here
45 posted on 09/17/2010 8:10:23 AM PDT by bamahead (Few men desire liberty; most men wish only for a just master. -- Sallust)
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To: unspun

46 posted on 09/17/2010 8:27:33 AM PDT by a fool in paradise (Ask yourself,where does Saudi Arabia fit on a scale of "passive" to "moderate" to "extremist" Islam?)
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To: unspun; All
OK....if anyone had doubts about Agenda 21 being real or not; or that we were actually doing it, need only look at the "outcome document". It is all about Agenda 21. THEY SAY IT.

*PAGE 24*

"Millennium Development Goal 7

Ensure environmental sustainability (HELLO...)

77. We commit ourselves to accelerating progress in order to achieve Millennium Development Goal 7,including through:

(a) Pursuing sustainable development,in accordance with the principles contained in the Rio Declaration on Environment and Development, including the Report of the United Nations Conference on Environment and Development, Rio de Janeiro, principle of common but differentiated responsibilities,and taking into account the respective capabilities of countries,with a view to effectively implementing the outcomes of the major summits on sustainable development and addressing new and emerging challenges"

FFS...this can't be any clearer. We get to pay for our own cages.
47 posted on 09/17/2010 8:28:39 AM PDT by wheresmyusa
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To: unspun; All
OK....if anyone had doubts about Agenda 21 being real or not; or that we were actually doing it, need only look at the "outcome document" in this article. It is all about Agenda 21. THEY SAY IT.

*PAGE 24*

"Millennium Development Goal 7

Ensure environmental sustainability (HELLO...)

77. We commit ourselves to accelerating progress in order to achieve Millennium Development Goal 7,including through:

(a) Pursuing sustainable development,in accordance with the principles contained in the Rio Declaration on Environment and Development, including the Report of the United Nations Conference on Environment and Development, Rio de Janeiro, principle of common but differentiated responsibilities,and taking into account the respective capabilities of countries,with a view to effectively implementing the outcomes of the major summits on sustainable development and addressing new and emerging challenges"

FFS...this can't be any clearer. We get to pay for our own cages.
48 posted on 09/17/2010 8:29:10 AM PDT by wheresmyusa
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To: Carry_Okie

Poppycock. Obastard can sign all the international agreements he wants but without 2/3 of the Senate to ratify it, it means nothing.


49 posted on 09/17/2010 8:30:32 AM PDT by Blood of Tyrants (Islam is the religion of Satan and Mohammed was his minion.)
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To: henkster
What makes no sense at all is how the American people elected this man.

When you consider that the media did everything in its considerable power to conceal who he was and the stupidity of the liberal elite (and Democrats in general), it makes perfect sense.

50 posted on 09/17/2010 8:32:35 AM PDT by Blood of Tyrants (Islam is the religion of Satan and Mohammed was his minion.)
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