Need help regarding Global Poverty Tax!?

Question

OK, so I was very disturbed about this Global Poverty initiative, but I am confused about the cost. Senator Biden said it will cost a million dollars a year, which is clearly a lie - the idea that it will only take 1 million dollars a year to cure aids, malaria, and global poverty is asinine. I have heard the figure of 850,000,000 thrown around, which sounds about right. However, I have found no "official" figure as to how much it would cost - I need your guy's help here, I need a link to a reputable source (not a blog or any source that could be seen as "slanted") that discusses the cost of this initiative. Thanks guys!

Answer 1

Some believe it would cost about  $845 Billion  ($845,000,000,000).

The CBO (Congressional Budget Office) estimates one million dollars a year if all the chips fall correctly.  We know the CBO never underestimated anything.

"We will need, in the end, to put real resources in support of our hopes. A global tax on carbon-emitting fossil fuels might be the way to begin. "  Jeffrey Sachs - director of the Centre for International Development

I see what you mean though, there is very little info out there about the actual costs.  Even the senate website does not list the bill.

The costs are projections, and as such are difficult to accurately predict.  The $850B figure had to have been generated somewhere.  Note the fact that there are really only two numbers being thrown out there.

Answer 2

the secrecy around this bill is disturbing to say the least.  it really gets the conspiracy part of my brain going.  the more you read about this bill, the more it links Global Warming to an enormous global socialism agenda.

however for the 850 billion number:  I believe that came from Accuracy in Media whome said the bill "would commit the U.S. to spending 0.7 percent of gross national product on foreign aid" which would be about 850 billion over the course of 13 years or 65 billion a year.  Now where did they get that 0.7 number.  Well they got it from what the UN is demanding.  Here is a link to there press release:

http://www.aim.org/aim-column/button-bon...

the truth is that we really dont know how much it will cost, and that really depends on what the president decides to do with it.  All the bill says is that the US must contrbute, but it does not state how much we would contribute.  Barak, whome has sponsored the bill, has suggested a carbon emmisions tax, and if that is the case you can bet it will be a lot more than 1 million dollars and will probably be closer to the 850 billion due to baraks rhetoric about pandering to the UN.

Answer 3

The total money sent out in foreign aid would be the best measurement of what the global welfare system is right now.  That's what it is after all.