IBD repeated falsehood that Obama bill would levy "Global Tax" on U.S. taxpayers

SUMMARY: In an editorial, Investor's Business Daily falsely claimed that the Global Poverty Act of 2007, sponsored by Sen. Barack Obama, "would force U.S. taxpayers to fork over 0.7% of our gross domestic product every year to fund a global war on poverty, spending well above the $16.3 billion in global poverty aid the U.S. already spends." In fact, the bill would establish no specific funding source and would not commit the United States to any targeted level of spending.

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