Trump Slams EU Over $5 Billion Fine on Google (reuters.com)

U.S. President Donald Trump on Thursday criticized the European Union and said the bloc was taking advantage of the United States, pointing to the record $5 billion fine European antitrust regulators imposed on Google. From a report: European Commission President Jean-Claude Juncker is scheduled to meet with Trump at the White House next Wednesday to discuss trade and other issues. "I told you so! The European Union just slapped a Five Billion Dollar fine on one of our great companies, Google. They truly have taken advantage of the U.S., but not for long!" Trump said in a post on Twitter .

Comments

Re:not for long

[Immerman]

>So they can continue this practice indefinitely and just pay the tax if they want.
That's pretty much standard for corporations, regardless. Fines are pretty much the only punishments applicable to corporations, short of dissolving their charter or banning them from doing business.

So, corporation breaks law, corporation gets fined, corporation pays fine and continues breaking the law because paying the fine is more profitable than obeying the law - that's how it's been done the world over for decades - Microsoft was notorious for that. The EU seems to have taken the lead however in establishing future fines as well, so that the company doesn't have to be re-sued for continuing to break the law, they just automatically get continuing fines so long as they're not in compliance, which increases their cost and decreases costs on the legal system.

I would like to see it go a step further myself. Say a 10% increase for every month they continue to break the law. Make sure their bean counters can see the oncoming storm of exponential growth looming in the future, so that they have serious incentive to set things right, rather than just regarding it as an overhead cost of doing business.