President Obama's team of negotiators at the United Nations Climate Change Conference may agree to a tax on foreign currency transactions, designed to pay for a "Green Climate Fund," that would fall disproportionately on American travellers and businesses, according to a group attending the conference that is skeptical of the UN position on global warming.
| Recall how Wall Street, at least part of it, continues to fork over campaign contributions to Bambi? That will come to a complete halt if he even proposes this to the Congress. |
Negotiators at the conference are considering "a new tax on every foreign currency transaction in the world," according to the Committee for a Constructive Tomorrow (CFACT). "Every time you travel abroad, you'll have to pay a climate tax," explains CFACT, the group that released the "Climategate" emails. "More importantly, every time we import goods, every time we export our fine products (think jobs) we will do so with a climate tax skimming off the top."
European countries would evade much of the tax burden, however, because "transactions within the Eurozone won't have to pay this new tax."
| Simply amazing how that works out... |
| it sppears that transactions within the U.S. won't be subject to the tax, either, but only those that go beyond national borders. The Eurozone treatment is simply anticipating the future United States of Europe. |
CFACT suggests that Obama is open to implementing this tax and similar policies in the absence of a full climate treaty, which would require congressional approval.
| How's he going to implement a tax without congressional approval? |
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