Wednesday, January 16, 2002
Speaking of Pitchfork Pat, his favorite organization, the WTO, has shot down the US's Foreign Service Corporation code as a unfair trade subsidy. Since it cuts taxes on exports only, a company's export business is taxed lighter than domestic business. When the WTO was established, I figured that the US would win more than it lost, and would deserve to lose most of the ones it did lose. We deserved to lose this one, and Bush is looking into bringing US tax law into compliance rather than accepting big tariffs that the European Union is allowed to impose under this ruling. Eight years into WTO, it looks fairly good. Dale Amon of Samizdata, who supplied the above link, points out that the US is the only country who taxes its citizen's income regardless of where it's earned. Way to wail, Dale. I've got a good article in me on that topic, but not tonight.
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