Posted in Big Government, Collectivism, Greece, Obama, Russia, Statism, tagged Big Government, Collectivism, Greece, Obama, Russia, Statism on June 19, 2011 |
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After reading a story about economic liberalization in Cuba, I wondered (somewhat tongue in cheek) whether we should trade Obama for Castro.
I also blogged about the former socialist president of Brazil, who seemed to have more sense than Obama because he recognized that you can’t redistribute unless people first produce.
We now have another example of a foreign statist who has had an epiphany. Here’s an excerpt from a Canadian Press story about the President of Russia recognizing that big government is a recipe for stagnation.
Russian President Dmitry Medvedev on Friday challenged the legacy of his powerful predecessor, Vladimir Putin, condemning the state’s heavy role in the economy and the centralization of power at the Kremlin… “The proposition that the government is always right is manifested either in corruption or benefits to ‘preferred’ companies,” he said. “My choice is different. The Russian economy ought to be dominated by private businesses and private investors. The government must protect the choice and property of those who willingly risk their money and reputation.” …Medvedev said that the country must begin to tackle the problem immediately to avoid “the point of no return from the (economic) models that are moving the country backwards.” “Corruption, hostility to investment, excessive government role in the economy and the excessive centralization of power are the taxes on the future that we must and will scrap,” he said.
There’s a serious point to all this, of course, and it’s the fact that we know we are on a road that will lead to a Greek-style economic collapse. Yet Obama’s response is to step on the accelerator.
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Posted in Big Government, Bureaucracy, Bureaucrats, Cuba, Russia, tagged Big Government, Bureaucracy, Bureaucrats, Cuba, Russia on September 21, 2010 |
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Russia will cut its army of bureaucrats by more than 100,000 within the next three years, saving 43 billion rubles ($1.5 billion), Finance Minister Alexei Kudrin said on Monday. “We assume more than 100,000 federal state civil jobs will be cut within three years. The government has already included a schedule for cutting the number of federal civil servants in the draft budget for the next three years and coordinated it with ministries and agencies,” Kudrin told President Dmitry Medvedev, who in June ordered a 20 percent cut in the number of bureaucrats. Under the government plan, ministries and agencies will have to sack five percent of their staff in 2011 and 2012, and 10 percent in 2013. …In the last three years, the number of bureaucrats in the federal government had increased by nearly 20,000, in regional governments by 60,000 and at municipalities by 50,000, he said.
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Posted in Big Government, Canada, Capital Gains Tax, Elitism, International bureaucracy, Obama, Politicians, Russia, Statism, Taxation, Taxpayer Ripoff, Waste, Welfare State, tagged Big Government, Boondoggle, Cameron, Canada, Capital Gains Taxation, England, Obama, Russia, Taxpayer Ripoff on June 26, 2010 |
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The G-20 gab-fest is in Canada this weekend, but Canadian taxpayers are definitely not winners. In a display of waste that might even embarrass a French politician, the Canadian government somehow is going to squander $1 billion hosting the event. I can’t even conceive of why such an event should even cost $10 million. Maybe hookers are very expensive up north. One interesting policy issue at the meeting is that the United States is siding with Euro-socialist nations in pushing a bank tax. Fortunately for taxpayers and financial consumers, the former communists in charge of Russia are helping to block this money-grab. This adds to the irony of Russia recently proposing to eliminate capital gains taxation
while Obama (and the U.K.’s Cameron
) are increasing the tax rate on entrepreneurship and investment. The world is upside down. The EU Observer reports
With international eyes focusing on the potential ‘stimulus versus austerity’ scrap between different member states, Canadian citizens meanwhile have reacted in uproar at news that the weekend’s bill is set to total over $1 billion. Although 90 percent of that cost comes under the ‘security’ heading, it is a artificial lake intended to impress journalists in the press area that has come in for the heaviest criticism. The controversy may not be helped by the forecast lack of tangible results set to emanate from the two sets of meetings… The need for a global bank levy provides one the more concrete topics for discussion, but there is no guarantee that participants around the table will come to an agreement. “In the G20, the idea of a bank levy is not supported by at least half of the members,” Russian ambassador to the EU Vladimir Chizhov told a group of journalists on Friday morning in Brussels. “Neither is it acceptable to Russia,” he continued, arguing that banks would merely pass on the extra costs to their clients.
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Posted in Capital Gains Tax, Competitiveness, Flat Tax, Russia, Tax Reform, tagged Capital Gains, Capital Gains Tax, Competitiveness, Flat Tax, Russia, Tax Reform on June 19, 2010 |
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The former communists running Russia apparently understand tax policy better than the buffoons in charge of U.S. tax policy. Not only does Russia have a 13 percent flat tax, but the government has just announced it will eliminate the capital gains tax (which shouldn’t exist in a pure flat tax anyhow). Here’s a passage from the BBC report:
Russia will scrap capital gains tax on long-term direct investment from 2011, President Dmitry Medvedev has said. …Mr Medvedev told the St Petersburg International Economic Forum that long-term direct investment was “necessary for modernisation”. …Its oil revenues fund, which has been financing the deficit, is expected to end next year, and the government wants to attract more foreign investment to boost the economy.
Sounds like President Medvedev has watched the Center for Freedom and Prosperity’s video explaining why there should be no capital gains tax. Now we just need to get American politicians to pay attention.
Welcome Instpundit readers!
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