Democrats Taking Over The World!

And you thought it was bad in this country.

How ’bout this one:  we hear the U.N. is kicking around the notion of a world tax imposed on all financial transactions, with the dough going toward the noble cause, indeed, of providing to “needy people” a basic income, free (that’s right – free) health care, education and housing.

So notes Paul Joseph Warren in a recent piece in Infowars.com.

The goal, you see, is to create a “social protection floor,” spearheaded by the U.N.’s new Commission on Social Development.

“The money to fund these services may come from a new world tax,” quoth Jens Wandel, Deputy Director of the United Nations Development Program, who went on to say that a long term funding plan for this noble effort would center around “a minimal (Beauty is in the eye of the beholder. – ed.) financial transaction tax of .005 percent.  This will create $40 billion in revenue.”

Of course, this newly proposed global tax would be designed to be “progressive” (a la its proponents, dare we say) with higher earners paying more.

Kind of a “fairness” concept, don’t ya see.

This one even outdoes Obama.

And speaking of who has dough and who doesn’t, consider the recent audit report issued by the Treasury Inspector General for Tax Administration (TIGTA), regarding IRS sloppiness when it comes to collecting restitution from tax criminals.

When a defendant pleads guilty, or is found guilty of a tax-related crime, the terms of the defendant’s sentence can include various combinations of slammer time, probation, and monetary penalties such as fines and restitution.

Regarding the latter, however, TIGTA concluded that IRS does not have effective internal controls to ensure defendants convicted of tax-related crimes comply with conditions of probation and restitution.

Nice.

Specifically, notes TIGTA, IRS’ inability to properly account for restitution payments resulted in the issuance of erroneous refunds to three defendants and 16 taxpayers totaling approximately $543,000 during the audit period!!!

In addition, notes TIGTA, IRS’ systems for monitoring defendants’ compliance with the conditions of probation and restitution are “neither effective nor reliable.”

Maybe something to remind the Revenooers of, the next time they come after you for the endless raft of penalties and fines they routinely slam taxpayers with, when found to be a little less than perfect.

CONSULT YOUR TAX ADVISOR – This article contains general information about various tax matters.  You should consult your CPA regarding the implications to your own particular situation.

Jeff Quinn, the author of this article, is a shareholder in Ashley Quinn, CPAs and Consultants, Ltd., with offices in Incline Village and Reno.  He can be reached at 831-7288, welcomes comments at jquinn@ashleyquinncpas.com, and invites readers to consider his other commentary at http://blog.nolo.com/taxes.

Leave comment