GET BUSINESS OFF THE PUBLIC TEAT :

W.T.O. Will Allow Europe to Impose Record Sanctions Against U.S. (THE ASSOCIATED PRESS, August 30, 2002)

The World Trade Organization on Friday ruled that the European Union can impose trade sanctions of up to $4 billion against the United States in a tax dispute, the biggest penalty it has ever allowed.

The sanctions are 20 times the amount levied in any previous WTO dispute. Experts say their potential effect on EU-U.S. trade would be so serious that the ruling will likely prompt a new compromise between the two sides.

The result is a big victory for the EU, which had requested the $4 billion amount. The United States claimed the award should be less than $1 billion.

The WTO considered the request from the EU after ruling last year that a system of tax breaks for companies from the United States was an illegal subsidy and violated international trade rules.

Considering that we didn't even dispute that the subsidies were illegal we deserve whatever we get. This is an extraordinary opportunity for Republicans, who are too stupid to take it. They should go to McCain and the Democrats and say: draft a list of every corporate tax break and subsidy you want to get rid of and we'll do it. We'll also get rid of the Commerce Department, the Small Business Administration, Export-Import Bank, etc.--every program and department that is set up primarily to benefit business. No tit for tat, no gimmicks. Just simplify the laws and treat business no better than we did poor people in Welfare Reform. Tell 'em, to sink or swim on their own. Posted by Orrin Judd at August 30, 2002 9:17 AM