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To: Les H who wrote (145105)	1/22/2002 10:12:04 AM
From: Don Lloyd	Read Replies (1) \| Respond to of 436258

mises.org "WTO Foments A Trade War by Llewellyn H. Rockwell, Jr. [Posted January 22, 2002] In an awful, but not unexpected, ruling on a long-standing dispute between Europe and the US, the World Trade Organization says that the US must stop permitting US exporters to set up foreign subsidiaries that save as much as 30 percent in taxes they would otherwise pay. Now the US must either raise taxes by eliminating loopholes or face massive new sanctions that will seriously harm our export sector. In the complaint, the EU said that US tax breaks constitute an unfair subsidy, and the WTO agreed. Of course, by the same logic one might also argue that every American citizen is unfairly subsidized by enjoying more tax loopholes as compared with people in more-socialist states in Western Europe...." Regards, Don