-Caveat Lector- visit my web site at http://www.voicenet.com/~wbacon My ICQ# is 79071904 for a precise list of the powers of the Federal Government linkto: http://www.voicenet.com/~wbacon/Enumerated.html ---------- Forwarded message ---------- Date: Thu, 23 Aug 2001 11:50:12 EDT From: [EMAIL PROTECTED] Reply-To: [EMAIL PROTECTED] To: [EMAIL PROTECTED], [EMAIL PROTECTED], [EMAIL PROTECTED], [EMAIL PROTECTED] Cc: [EMAIL PROTECTED] Subject: SNET: EUROPE WANTS TO FINE US $4 BILLION....... -> SNETNEWS Mailing List BOB'S NOTE: There will be hardly any impedance to this or any other threat to our other once-sacred freedoms by the SHEEPLE, the dumbed-down masses of unthinking victims of the public-fool-system and the dogmatic, gouging graduated tax system tyrants. Until we start enforcing (1) The Constitution of the United States of America and (2) The fourteenth amendment thereto by public hangings and early morning firing squads, we can expect nothing out of our despicable pubic(sic) servants on Capital(sic) Hill and in our local capitals(sic) except the same constitution-destroying, self-serving conduct. The only way you can turn this sad state of national/local treason around is to send these politicians a message that comes at them at approximately 3200 feet-per-second. Got a better way??? Please let me know. Respectfully submitted for your action and prayers, Bob Worn, Major-USAF (Retired) 1811 Shamburger Road Pritchett, Texas 75645-2759 903-734-6970 Europe Wants to Fine U.S. $4 Billion NewsMax.com > Wednesday, Aug. 22, 2001 If the globalist bureaucrats of the European Union have their way, the U.S. will pay a $4 billion penalty for daring to give tax credits to American companies. (Bob's Note Again: Please remember, the "tax credit(lie) was not as it appeared. It was an advance on next years anticipated refund. No refund? You'll have to pay it back.) Unless the U.S. amends a tax credit program, the EU warns it will demand that the World Trade Organization, which has already found the United States guilty of violations of international law in this case, levy the fine. A panel of WTO experts ruled last month that billions of dollars' worth of special tax breaks offered to Microsoft Corp., Boeing Co. and hundreds of other U.S. export companies were illegal subsidies that discriminate in favor of American-made products. For its part, the U.S. has warned the EU that seeking multibillion-dollar trade sanctions would cause Congress to take retaliatory measures that could wreck global trade arrangements and cause a worldwide economic crisis. U.S. Special Trade Representative Robert B. Zoellick has compared levying any such huge EU sanctions to "dropping a nuclear bomb" on the global trading system, according to the Washington Post. As a result of the WTO action and the EU's demands, the Bush administration has to decide whether to appeal the decision, change the tax law or face sanctions on exports to Europe, the Post noted. The U.S. has 60 days to appeal the WTO ruling. "We are weighing our options," said Richard Mills, a spokesman for the U.S. trade representative. Zoellick issued a statement saying that he has been consulting closely with both the Congress and U.S. business executives. "In seeking a resolution, we are focusing on how to promote America's economic interests while fulfilling our WTO obligations," he said. Although EU officials admitted they recognize the dangers inherent in waging a major trade war with the United States when the world economy is in a downturn, they insist that the U.S. must alter its tax policies to conform with world trade rules. American tax policies are not the only ones that irk the Brussels bureaucrats, who appear to have a dim view of national sovereignty. The EU recently attacked the Irish government for lowering taxes and has demanded that Dublin raise tax levels to conform to those in other EU nations. The Irish, whose economy is booming because of the tax cuts, have ignored the demands. According to the Post, if the WTO agrees with EU demands for $4 billion to $5 billion in damages, it will be the largest fine applied by the WTO since it took over the responsibilities of the General Agreement on Tariffs and Trade (GATT). European Commission officials said the EU was prepared to delay applying any sanctions if the U.S. Congress agrees to consider new legislation that would change the tax laws. "We can hold off on this for as long as we like if we think that the U.S. is making a serious effort to change its law and bring itself into compliance, even by the start of the next tax year," Stephen Gospage, a senior EU trade representative, told the Post. He said that if the United States decided to appeal the decision, the EU would press ahead by requesting WTO permission to impose the sanctions on American exports. 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