11.20.08
Who You Callin’ A Commie, Commie!
The (former) Commies give their businesses tax breaks.
The tax changes in Putin’s plan would cut the Russian corporate tax to 20 percent from 24 percent on January 1st and “reduce taxes for small businesses and speed refunds of value-added tax.”
Meanwhile, China—which cut its corporate tax rate to 25 percent this year from 33 percent—recently announced reforms to their VAT in order to reduce the cost of the tax on businesses.
But as I understand it from Beltway rhetoric, we’re getting ready to raise corporate tax rates.
Are things topsy-turvy?
