BOHICA - The Global Tax

Excerpt:

While policymakers debate a few million dollars for ACORN and a few hundred billion dollars more for health care reform, those committed to one-world government are moving ahead with plans for a global tax that could extract trillions of dollars out of Americans' already depleted IRAs and stock holdings.

One can't exclude the possibility of such a tax being slipped into a health care or cap-and-trade bill that the Congress or the public could not have time to read before passage.

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The "Leader's Statement" endorsed by President Obama and released at the event declares on page 10 that "We task the IMF to prepare a report for our next meeting with regard to the range of options countries have adopted or are considering as to how the financial sector could make a fair and substantial contribution toward paying for any burdens associated with government interventions to repair the banking system."

The term "fair and substantial contribution" is code for a global tax. Other misleading terms for global taxes include "innovative sources of finance" and "Solidarity Levies."

While the global tax would affect the savings of ordinary Americans and be passed on to consumers, it is being packaged by the international left and its progressive allies in the U.S. as an assault on Wall Street and the big banks.

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Over at the Huffington Post, a voice of the Obama-supporting left, Kyle G. Brown advises that such a tax is doable and that "a modest fee on every stock, every bond-in short, every financial transaction" could generate $100 billion a year at a rate of just 0.5 percent. He explains, "That would defray health care costs, and help struggling states restore social services that have been axed over the past two years."

And our friends in Congress are all behind it. Don't say you haven't been warned.