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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 document gives other ideas for international taxes, including:Let’s close with some good news. Proposals for global taxation from the United Nations are so radical and so far from the mainstream that even the Obama Administration generally is opposed to these crack-pot ideas.
- – a tax of $25 per tonne on carbon dioxide emissions would raise about $250 billion. It could be collected by national governments, but allocated to international cooperation.
- – a tax of 0.005 percent on all currency transactions in the dollar, yen, euro and pound sterling could raise $40 billion a year.
- – taking a portion of a proposed European Union tax on financial transactions for international cooperation. The tax is expected to raise more than $70 billion a year.…Without commenting on any of the individual taxes proposed, UN Secretary General Ban Ki-moon said that if the new “innovative financing” is to become viable, “strong international agreement is needed.”