Next Stage of Cloward-Piven: Global Tax
Throwing people out of work and into government dependency with intrusive federal policies that could best be described as economic sabotage worked great for FDR, allowing him to rule as a quasi-dictator for a dozen years. But Comrade Obama has bigger ideas. His plan is to Cloward-Piven the economy into complete collapse, so as to pave the way for communism. To bring that off quickly, it will be helpful to put the entire planet on welfare, so that the massive weight of the poverty caused by socialist dictators around the world may crush the American taxpayer. The IMF is only too happy to help by levying a global tax.
The International Monetary Fund, acting at the behest of leaders of the Group of 20 nations, is examining how a tax on financial institutions could be applied globally. …
Neither the size nor use of revenue from such a tax has been decided. Brazil’s finance minister, Guido Mantega, said when ministers met in Pittsburgh recently they discussed using proceeds to help finance developing countries during crises. Another possibility, discussed in a recent IMF report, would be to “pre-finance a bailout fund” to handle financial institutions deemed “too big to fail.” …
That is, when foreign governments inflict socialist power grabs like Chairman Zero’s seizure of GM and Chrysler, Americans will be sent the bill. Looting the “financial sector” means looting you, since any shortfalls suffered by Goldman Sucks and friends will be made up with free money from their Big Government cronies. After all, the financial sector is too big to fail — and too well connected.
In case anyone imagines that money handed over to the IMF will go anywhere but straight down the toilet:
Last year, World Bank President Robert Zoellick urged sovereign-wealth funds and state-owned pension plans to invest 1% of their holdings in equity in sub-Saharan Africa, a proposal he called a “1% solution.”
This is great news for Robert Mugabe, who could always use a new palace or two.
As Cliff Kinkaid notes, global taxes may hit us before we see them coming:
One can’t exclude the possibility of such a tax being slipped into a health care or cap-and-trade bill that the Congress or the public could not have time to read before passage.
After all, Demonrat Congresscritters can’t be expected to read the laws they rubber-stamp on behalf of Chairman Zero, who unsurprisingly is completely on board with plans to enslave American taxpayers on behalf of the world community.
The “Leader’s Statement” endorsed by President Obama and released at the [Pittsburgh G-20] declares on page 10 that “We task the IMF to prepare a report for our next meeting with regard to the range of options countries have adopted or are considering as to how the financial sector could make a fair and substantial contribution toward paying for any burdens associated with government interventions to repair the banking system.”
The term “fair and substantial contribution” is code for a global tax.
Naturally our moonbat rulers will spin the tax as an attack on the capitalist fat cats their media enablers relentlessly demonize. But the bill will be passed along to normal Americans.
One proposal, popular at the United Nations for decades and long-advocated by Fidel Castro, is the Tobin Tax, named after Yale University economist James Tobin. Such a tax, which could affect stocks, mutual funds, and pensions, could generate hundreds of billions of dollars a year. Indeed, Steven Solomon, a former staff reporter at Forbes, says 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.
The percentage looted will inevitably creep upward, as with all taxes.
Meanwhile, President Obama used his recent speech to the United Nations to declare, “We have fully embraced the Millennium Development Goals.” He left unsaid what this means. It has been calculated that this will cost the U.S. $845 billion to meet U.N. demands for a certain percentage of Gross National Product to go for official foreign aid to the rest of the world. Compliance with the Millennium Development Goals (MDGs) was incorporated into the Global Poverty Act that Obama had introduced as a U.S. senator but which never passed.
A global tax of the kind envisioned in the G-20 document could help provide the revenue to fulfill Obama’s promise to comply with the MDGs.
If you think our economy is staggering now, wait until the Community Activist in Chief loads the entire world onto its back.
On a tip from Sal. Cross-posted at Moonbattery.
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Posted by Van Helsing on October 7, 2009 11:54 pm
» Filed Under Anti-Americanism, Anti-Capitalism, Barack Obama, Communism, Despotism, Economy, Fiscal Responsibility, Foreign Policy, Government corruption, Government tyranny, Liberal World, Marxism, News, President, Socialism, Taxes, Totalitarianism, U.S. Constitution, U.S. Sovereignty
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