Taxes? Huh, Of course we don’t support a “global” tax…
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Oh, and if you like your health care plan, you can keep it. And the coverage won’t change and the premium won’t go up. And we’re closing Gitmo.
Seriously, Barack Obama is the Pixie Dust President. Sprinkle some dust and you’ll forget whatever it was you thought he said. Or maybe he’s the Angel Dust POTUS. Whatever.
So the current flag that may be flying is this “global tax” thing. Gene Sperling, a White House economic adviser put his foot in his mouth this week, as reported in the Weekly Standard today…
“[W]e need a global minimum tax so that people have the assurance that nobody is escaping doing their fair share as part of a race to the bottom or having our tax code actually subsidized and facilitate people moving their funds to tax havens,” Sperling said at an official White House meeting. He even indicated that President Obama “supports” this change.
The Weekly Standard goes on to note that the White House more or less denied the account, saying that all President Obama is trying to do is come up with a way to punish businesses that ship jobs overseas, probably in the name of “fairness”. And, deny as they might that they – the White House – don’t want a “global tax”, here’s what the President said on the subject…
“[N]o American company should be able to avoid paying its fair share of taxes by moving jobs and profits overseas, from now on, every multinational company should have to pay a basic minimum tax. And every penny should go towards lowering taxes for companies that choose to stay and hire in the United States of America.”
So business taxes are going up, and of course we know that’s a good thing since business is evil and they don’t pay enough tax. Of course, the geniuses in this Administration don’t understand that business does not pay tax, their customers do. The reason governmental units, without regard to political party, like to tax business is because voters do not understand the most basic concepts of either business or finance and they can get away with it.
I’ll admit, the President has done an excellent job to this point putting a very nice shade of lipstick on this pig known as global taxation. But you can be sure, he’s not going to stop with what he’s talking about today. Remember what he said about ObamaCare. And gentle reader, you can be sure this scheme will be 1,000 times worse.
As Cal Thomas said, “That’s not the end of the story!” and there’s an important reminder here. Leftists firmly believe and practice the concept of incrementalism. Unlike what the right has historically done – insist on the “whole pie” or nothing, hence getting nothing – the left grabs an idea and they incrementally implement it over years or even decades. They eat the elephant one bite at a time – and yes, that is a metaphor. So watch where this “basic minimum tax” will take us.
You’ve likely never heard of the Organization for Economic Cooperation (OECD), a very benign sounding group of international bureaucrats. They’re anything but. Dan Mitchell at Big Government has an excellent expose on this scheme and you should read the whole thing, It’ll just take a couple of minutes. Here’s the foundation…
[T]he OECD wants to impose global tax rules that would prevent taxpayers from ever having the ability to benefit from better tax law in other jurisdictions. This is why, for instance, the international bureaucrats are anxious to undermine national tax laws – such as America’s favorable treatment of bank deposits from overseas – that enable people to escape onerous tax regimes.
Bolstered by support from the Obama Administration, the OECD now is taking its campaign to the next level. At its Global Tax Forum in Bermuda, which ends later today, the bureaucrats unveiled a new scheme that effectively would result in the creation of something akin to a World Tax Organization.
They want to create an organization that will allow tax collectors to ignore national sovereignty and cross borders to collect taxes. They want to make it illegal to design a tax system that encourages individuals and organizations to move their investments or businesses to places with a more favorable tax climate.
Oh, and guess who pays most of the bill for the OECD? US taxpayers. And guess who will likely be targets for these goons? Yep, US businesses.
Next! It’s – guess who? – the UN. They want to protect the world’s poor. Please keep in mind that pretty much without limit, if you live in the US you’re not considered “poor” by the world’s standards, and certainly not by the UN’s. This little gem from Newsroom America…
The head of a United Nations economic agency says a new world tax is needed to help finance a “social protection floor” for the world’s poor.
Speaking at UN Headquarters in New York City earlier this week, Jens Wandel, Deputy Director of the United Nations Development Program, said such an effort would require a “modest” but “long-term way” to “finance this transformation.”
The concept of a global financial transaction tax has been mentioned before at the UN as a means of providing more funding for the organization’s various humanitarian missions. The latest incarnation of the global tax came as part of a Civil Society Forum, whose aim is to establish “universal access to basic social protection and social services.”
“No one should live below a certain income level,” Milos Koterec, President of the Economic and Social Council of the United Nations, said, in comments reported by Deseret News.
“Everyone should be able to access at least basic health services, primary education, housing, water, sanitation and other essential services,” he said.
Got that? E.V.E.R.Y.O.N.E. This is ObamaCare on steroids. And, guess how they’re going to do it. Why, they’re going to tax large financial transactions. Initially. The Chairman of the Commission on Social Development (and if that name doesn’t keep you awake at night it should) said, “It is absolutely essential to establish controls on capital movements and financial speculation,” In other word
s, the UN wants to control the movement and use of money. He also had some gems about taxation.
This, gentle reader, is where we’re headed, and we’re being faithfully led by President Barack Obama and the fellow travelers in his Administration. Honestly, I don’t know if they can be stopped, but I’m really sure that in another four years they won’t be.
We can quibble about the quality or history of the Republican candidates for President in 2012, but when all is said and done if you don’t enthusiastically support the Republican nominee against this coming tidal wave, YOU are responsible for the downfall of the Nation that Ronald Reagan, not many years ago, called the Shining City on a Hill.