Obama's Global Tax Bill Coming Soon

By Kyle-Anne Shiver and Lee Cary

The Global Poverty Act of 2007 (S.2433) is coming up for a Senate vote sometime after the July 4 recess, according the office of Senator Kay Bailey Hutchison. Once Harry Reid and the Democrat leadership put it on the calendar, we could have as little as a week to prepare for the vote.

The bill is sponsored in the Senate by Barack Obama. Read about it here.

If passed, it will cost taxpayers $845,000,000,000 over the next 13 years, in addition to our current foreign aid expenditures.

And the best part is that it will be administered in conjunction with...brace yourselves...the United Nations. The same one of "Food-for-Oil" fame.

It passed (H.R. 1302) earlier by a unanimous voice vote in the House.

It's about global income redistribution. Their distribution - our income.

Heard much debate about it? Ah, it's only 8.5 tenths of a trillion.