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How about a new taxing authority?; U.N. calls for global 'billionaires' tax'
Topic Started: Jul 7 2012, 07:29 AM (253 Views)
Copper
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Shortstop

http://times247.com/articles/u-n-calls-for-global-billionaires-tax

Quote:
 

U.N. calls for global 'billionaires' tax'

Agence France-Presse
by: Tim Witcher
Thursday, July 5, 2012

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

There are an estimated 425 billionaires in the United States, 315 in the Asia-Pacific region, 310 in Europe, 90 in other North and South American countries and 86 in Africa and the Middle East.


The Confederate soldier was peculiar in that he was ever ready to fight, but never ready to submit to the routine duty and discipline of the camp or the march. The soldiers were determined to be soldiers after their own notions, and do their duty, for the love of it, as they thought best. Carlton McCarthy
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Amanda
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Senior Carp
NOW WAIT A SECOND THERE.

I approximate 1200 billionaires according to this count. A 400 Billion tax, would mean taxing them 33% annually. Even I can see it would be a no go in short order especially since their assets are undoubtedly in corporations and operations which can't be liquidated.

And that's even without doing all the nitty gritty of making this hypothetical tax graduated (so the multibillionaires would have to fork out more).

Try again. :smokin:
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We should tolerate eccentricity in others, almost to the point of lunacy, provided no one else is harmed.
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"Daily Telegraph", London July 27 2005
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JBryan
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I am the grey one
Not to mention the UN has no authority to enforce such a measure.
"Any man who would make an X rated movie should be forced to take his daughter to see it". - John Wayne


There is a line we cross when we go from "I will believe it when I see it" to "I will see it when I believe it".


Henry II: I marvel at you after all these years. Still like a democratic drawbridge: going down for everybody.

Eleanor: At my age there's not much traffic anymore.

From The Lion in Winter.
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jon-nyc
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Cheers
The world's billionaire's would sooner shut down the UN.
In my defense, I was left unsupervised.
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jon-nyc
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Cheers
Amanda
Jul 7 2012, 11:15 AM
NOW WAIT A SECOND THERE.

I approximate 1200 billionaires according to this count. A 400 Billion tax, would mean taxing them 33% annually. Even I can see it would be a no go in short order especially since their assets are undoubtedly in corporations and operations which can't be liquidated.

And that's even without doing all the nitty gritty of making this hypothetical tax graduated (so the multibillionaires would have to fork out more).

Try again. :smokin:
If you look at the original AF piece, they conceive of $46B raised this way, the rest of the 400B raised other ways. The specific proposal w.r.t. billionaires is a 1% wealth tax.

http://ca.news.yahoo.com/un-calls-billionaires-tax-help-worlds-poor-211640656.html
In my defense, I was left unsupervised.
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