BILL GATES URGES OBAMA TO EMBRACE GLOBAL TAX
By Cliff Kincaid
November 5, 2011
When Barack Obama was a senator, he proposed a Global Poverty Act to fulfill the U.N.’s Millennium Development Goals. The cost in additional foreign aid: $845 billion. On Thursday, as part of the G20 summit, Bill Gates, co-chair of the Bill & Melinda Gates Foundation, delivered a report on “financing for development” that proposes global taxes on America and other “rich” nations to make the Global Poverty Act a reality.
“I am honored to have been given this important opportunity,” said Gates, founder of Microsoft. “My report will address the financing needed to achieve maximum progress on the Millennium Development Goals, and to make faster progress on development over the next decade.”
The report, available on the website of the Gates Foundation, proposes a financial transaction tax (FTT) as well as taxes on tobacco, aviation and bunker fuel, and carbon (energy), by G20 countries and other members of the European Union. The G20 are Argentina, Australia, Brazil, Canada, China, European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Republic of Korea, Turkey, United Kingdom, and the United States of America.