Saturday, July 7, 2012

UN proposes a global tax on financial transactions

Call me old fashioned but didn't we fight a war about this about 250 years ago? You know that outdated notion of taxation without representation. By what authourty does the UN propose to administer this tax?

According to this statement posted by the UN, under the auspices of the Human Rights Council (emphasis mine):

"Where the world financial crisis has brought about the loss of millions of jobs, socialized private debt burdens and now risks causing significant human rights regressions through wide-ranging austerity packages, a financial transaction tax (FTT) is a pragmatic tool for providing the means for governments to protect and fulfill the human rights of their people," said the rights experts on extreme poverty, food, business, foreign debt and international solidarity.

"EU countries must take bold leadership now to pave the way towards what should eventually be a global FTT," they urged, welcoming recent EU proposals to implement the financial transaction tax across the Eurozone.

Ahhh, social justice of course. And given the UN's record of corruption and mismanagement how much of these dollars will actually find its way to the intended targets? Well the group are called the Human Rights Council so they must be good global citizens right? Well here is a partial list of members:

Saudi Arabia

Sounds like an amicable group if you want to be robbed blind. These countries are on the Human Rights Council - Seriously!

Listen, the UN jumped the shark a long time ago. Why the US and our allies give this corrupt group of bandits any credence is beyond me. Let me ask this question. Given China and Russia have veto power in the Security Council - what exactly is our reason for even being part of this group of misfits? If we pulled out of the UN tomorrow what would happen that is not happening anyway. Iran is still building nuclear weapons; North Korea is still trying to develop missiles that will reach America's mainland.

Honestly, if we pulled out of the UN it would do nothing less that de-legitimize the entire organization to the point that it would cease to exist. And that would not be a bad thing.

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