Obamacare might be the largest single tax increase in American history, but a proposal to let the United Nations tax wealth could be on the horizon with the Obama administration’s blessing.
The U.N. wants to use a “Financial Transaction Tax” (FIT) for the ostensible purpose of fighting poverty and provide relief to those who have lost their jobs because of European austerity measures.
The global body, whose widespread corruption and mismanagement are well-known, hopes to raise upwards of $400 billion annually .
As if the individual tax burden of every American is not enough, and with the federal government taking more and more and still failing to balance a budget, it would be fair to say the measure would be unpopular in the United States.
But the tax’s impact on America would be laughable to consider were it not for the fact Obama economic adviser Gene Sperling, who heads the White House National Economic Council, endorsed such a tax to ensure everyone is “paying their fair share.”