BrianGarst.com

I’m still in Bermuda, but I want to pass on this report at Big Government by Dan Mitchell. He talks about plans by the OECD (which receives almost 25% of its funding from US taxpayers) to start what will eventually morph into a world tax organization, or “thieves’ cartel” to oversee national tax rates and ensure that no countries are daring to steal too little.

Bolstered by support from the Obama Administration, the OECD now is taking its campaign to the next level. At its Global Tax Forum in Bermuda, which ends later today, the bureaucrats unveiled a new scheme that effectively would result in the creation of something akin to a World Tax Organization.

The vehicle for this effort is a Multilateral Convention on Mutual Administrative Assistance in Tax Matters. This may sound dry and technical, but the OECD wants all nations to participate in this pact, which has existed for a couple of decades but was radically expanded last year to give high-tax governments sweeping new powers to impose bad tax law on income generated in low-tax jurisdictions.

But the real smoking gun is that the OECD has put itself in charge of the “co-ordinating body” that will have enormous powers to interpret the agreement, modify the pact, and resolve disputes – thus giving itself the ability to serve as judge, jury, and executioner.

There’s also more in this local Bermuda news piece, including a comment from yours truly.

OECD