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Jeffrey Sachs, who runs the U.N.'s "Millennium Project," says that the U.N. plan to
force the U.S. to pay 0.7 percent of GNP in increased foreign aid spending would add $65 billion a year to what the U.S. already spends. Over a 13-year period, from 2002, when the U.N.'s Financing for Development conference was held, to the target year of 2015, when the U.S. is expected to meet the "Millennium Development Goals,"
this amounts to $845 billion. And the
only way to raise that kind of money, Sachs has written,
is through a global tax, preferably on carbon-emitting fossil fuels.
Even these increases, however, will not be enough to satisfy the requirements of the Obama bill.
A global tax will clearly be necessary to force American taxpayers to provide the money Obama’s Global Tax Proposal Up for Senate Vote