Could this make gold popular again?
THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Friday, January 11, 2002 - Vol. 4 No. 3
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In This Issue:
* COMMENT: U.N. Tax Twaddle
* OFFSHORE: Most 'Globalized' Nation. Liechtenstein Secrets.
Bull on Gibraltar. Swiss Pols Push UN. Accused Swiss Firm Folds.
Italy-UK Anti-EU Superstate Alliance? French Big Bank Scandal.
Belize Passports: Get 'Em Now. Ocean Havens: Indian & Pacific.
* WEALTH: Myth of ?uro Creep. German CGT Ends. US Treasury Sec. Out?
Canada Rich $700m Tax Break. Swiss Canton Low Tax Competition.
Greed & Fraud. Rich Means Happy. Anti-Terror Boosts Yachting.
* PRIVACY & RIGHTS: The Knock on the Door. Drivers License IDs.
Wiretaps in Every Home. Fox Guards Hen House. Ontario Solicitors.
COMMENT: U.N. Tax Twaddle
The A-Letter tries to keep its readers ahead of the offshore curve.
Six months ago we warned you about proposals for a UN "international
tax organization" (ITO), a sort of global IRS. We saw this as a
"disturbing possibility, perhaps remote for now, that may be endorsed
by a United Nations Summit on Financing for Development Conference" to
be held in Monterey, Mexico, March 18-22. (A-L 07.10.01 Vol3 No54).
UN worthies claim the ITO will solve problems caused by "globalization"
that undermine "the territoriality principle on which traditional tax
codes are based," i.e., high tax nations are losing revenue to low tax
nations. (Yes, you're right; that's the same old OECD "harmful tax
competition" song, but then the incestuous overlap of these inbred
international bureaucracies is notorious). Dan Mitchell, of the Heritage
Foundation says: "This meshes completely with what the EU and OECD has
been trying to do for some time."
Well, those loquacious, busy beaver bureaucrats at the UN have been busy
spending your tax moneys at preparatory meetings for the Mexican world
tax gabfest. And, thank goodness, the critics are also out in full
force. Veronique de Rugy, an analyst at the Cato Institute says: "Their
goal is an international tax cartel that would work to keep taxes high."
Here's what the UN inspired world tax collectors plan to do:
* maintain "surveillance of tax developments" in all nations;
* take a lead role in "restraining tax competition";
* sponsor a mechanism for "multilateral sharing of tax information";
* "most ambitious of all," seek to develop and secure international
agreement on a formula for "unitary taxation" worldwide.
The UN has yet to recover from the embarrassing mess of its self-aborted
anti-racism conference in Durban, South Africa last fall, only one in a
series of recent harebrained UN gatherings. Fortunately for taxpayers
everywhere, Monterey looks to be yet another UN implosion.
"A lot of the work at these things is done well in advance, and I'm not
sure there will be any adult supervision here," says Dan Mitchell. "It's
up to the US government to protect it's own interests, and not let a bad
idea snowball into something much, much bigger."
That's the way that it looks from here.
Faithfully Yours, Bob Bauman, Editor
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COMMENT LINKS:
* Critics Slam Proposed UN Tax Authority, LINK:
foxnews.com
* For LINKS to authoritative sources on the UN conference, see,
freedomandprosperity.org
* Strong stomach? See and hear real UN high tax delegates in action,
LINK (video & audio): iisd.ca
* UN Suggests All Citizens Should Become Slaves. LINK:
tax-news.com |
