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Today, the provision of public goods and services at the global and regional level is dangerously inadequate.Groups of neighboring countries such as the EU and the African Union need public services, public investments and transfer payments that cut across national borders, and that often involve dozens of countries simultaneously.While many EU member states tax at least 25 percent of national income for public spending at the national and local levels, the funding available for the EU-wide budget is just 1 percent of the member countries' combined income.The U.N.'s regular budget is a mere $2.7 billion per year, or just 0.003 percent of the world's $90 trillion total income.The U.S. pays around 22 percent of the annual $2.7 billion regular budget, or some $600 million each year, but this is less than $2 per American!The EU should quickly double the EU budget to 2 percent of EU income, and more over time.
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