We are spending billions on foreign aid, and the UN would even like to create a global tax. Do you think a Global tax is a good idea, especially with the amount we are spending onf foreign aid already? Do you think it is appropriate to increase the amount of foreign aid as we have the last few years when the country is in extreme debt already?
From fiscal 2008 to fiscal 2011, according to the U.S. Treasury, the federal government increased spending on foreign aid by 80 percent and, in fiscal 2011, spent 76 percent more on foreign aid than it did securing the borders of the United States.
In fiscal 2008, the government spent a total of $11.427 billion in international assistance programs, according to the Monthly Treasury Statement. In fiscal 2011, according to the statement, it spent $20.599 billion?an increase of $9.172 billion, or 80 percent, from 2008.
Prior to President Obama taking office, international assistance spending had been trending down for three years, according to the Treasury. In fiscal 2005, it was $14.787 billion. In fiscal 2006, it dropped to $13.914 billion. In fiscal 2007, it dropped again to $12.764 billion. And, in fiscal 2008, it dropped yet again to $11.427 billion.
Since 2008, international assistance spending has increased each year. In fiscal 2009, it climbed to $14.827 billion. In fiscal 2010, it jumped to $20.038 billion. And, in fiscal 2011, it climbed again to $20.599 billion.
A 1 percent tax on billionaires around the world. A tax on all currency trading in the U.S. dollar, the euro, the Japanese yen and the British pound sterling. Another ?tiny? tax on all financial transactions, including stock and bond trading, and trading in financial derivatives. New taxes on carbon emissions and on airline tickets. A royalty on all undersea mineral resources extracted more than 100 miles offshore of any nation?s territory.
The United Nations is at it again: finding new and ?innovative? ways to create global taxes that would transfer hundreds of billions, and even trillions, of dollars from the rich nations of the world ? especially the U.S. ? to poorer ones, in line with U.N.-directed economic, social and environmental development.
These latest global tax proposals have received various forms of endorsement at U.N. meetings over the spring and summer, and will be entered into the record during the 67th U.N. General Assembly session, which began this week. The agenda for the entire session, lasting through December, is scheduled to be finalized on Friday.
How to convince developed countries wracked by economic recession and spiraling levels of government debt ? especially the U.S. ? is another issue, which the world organization may well end up trying to finesse.