Written by Raven Clabough

The United Nations continues to reveal itself as the main advocate and vehicle for global government, this time by pushing for a global tax on the wealthy to finance development and other needs worldwide, including so-called climate change.

The “billionaires' tax,” as its been dubbed, has been proposed by the UN's World Economic Social Survey (WESS), which asserts that it will raise nearly $400 billion a year. UN officials claim that such a tax is necessary to push the global body’s agenda “in the midst of difficult financial times.” Survey author Rob Vos, director of the UN's Development Policy and Analysis Division of the Department of Economic and Social Affairs, declared in a statement,

Donor countries have fallen well short of their aid commitments and development assistance declined last year because of budget cuts, increasing the shortfall to $167 billion.

Although donors must meet their commitments, it is time to look for other ways to find resources to finance development needs and address growing global challenges, such as combating climate change.

We are suggesting various ways to tap resources through international mechanisms, such as coordinated taxes on carbon emissions, air traffic, and financial and currency transactions.

This year’s WESS includes provisions for a currency transaction tax of .005 percent, to be imposed on all trading of the U.S. dollar, the euro, the yen, and the pound sterling.

CNS News provides some background:

The European Union’s executive Commission has proposed the introduction of such a tax — 0.1 percent for shares and bonds and 0.01 percent for derivatives — in the 27-member union with effect from January 1, 2014, an initiative expected to raise just over $70 billion a year. The WESS says a portion of that could be earmarked for international cooperation.

The WESS also recommends an allocation of International Monetary Fund (IMF) Special Drawing Rights (SDRs) that would be used for development. The survey suggests that the SDRs could generate $100 billion a year. According to CNS News, the SDRs are not themselves currencies, but have value “based on a basket of the dollar, euro, pound sterling and yen.” In fact, some nations are advocating for SDRs to replace the dollar as the world’s reserve currency.

Continue reading: http://www.thenewamerican.com/world-news/item/11984-un-report-pushe...