Interesting article in U.S. News & World Report:  Does Obama Want a Trillion-Dollar Global Tax?, by James Pethokoukis:

Back in December, Obama sponsored the "Global Poverty Act," a bill that proposed the following:

To require the President to develop and implement a comprehensive strategy to further the United States foreign policy objective of promoting the reduction of global poverty, the elimination of extreme global poverty, and the achievement of the [U.N.] Millennium Development Goal of reducing by one-half the proportion of people worldwide, between 1990 and 2015, who live on less than $1 per day.

What this bill would do, in short, is commit the United States to the U.N. declared goal that industrialized countries should spend 0.7 percent a year of their gross domestic product on foreign aid. Over the next decade or so, that would work out to around $850 billion. …

How to pay for our penance? Economist Jeffrey Sachs, an advocate of this idea, has a suggestion:

We will need, in the end, to put real resources in support of our hopes. A global tax on carbon-emitting fossil fuels might be the way to begin. Even a very small tax, less than that which is needed to correct humanity’s climate-deforming overuse of fossil fuels, would finance a greatly enhanced supply of global public goods.

So not only does Obama want to raise taxes on Americans making over $250,000 a year and eliminate the $102,000 wage cap on Social Security taxes, he perhaps wants to tack on another trillion dollars in taxes to pay for dramatically increased foreign aid.