Russia gets it!! taxes are not good for growth!!!

[newtothegame]

Hmmm in a world in which Russia has been one of the most controlled by government countries...they are now heading where????? :lol:

And trust me...no I am not moving to russia...too cold for me !!! lol

Russia to drop capital gains tax to attract investment

Russia will scrap capital gains tax on long-term direct investment from 2011, President Dmitry Medvedev has said.

Mr Medvedev said that in terms of improving Russia's investment climate "we, I hope, are moving forward".

He also said the number of "strategic" firms, in which foreign investment is restricted and which cannot be privatised, would fall from 280 to 41.

Mr Medvedev has been promoting the idea of "modernisation", including diversifying the Russian economy.

Also, many investors have been wary of coming to Russia because of corruption and the dominant role the state plays in Russia's business life.

Mr Medvedev told the St Petersburg International Economic Forum that long-term direct investment was "necessary for modernisation".

He also said that he would ask the government to create a special investment public-private fund.

"Such an idea should be implemented within a year," he said.

'Something new'
The Russian economy, heavily dependent on oil and gas revenues, was enjoying several years of robust growth in the middle of the 2000s.

However, it was hit hard by the global economic crisis, and in 2009 the economy shrank by 7.9%.

The economy is forecast to return to growth this year, expanding by about 4%. But Russia is also set to run a budget deficit for several years to come.

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.

In an interview with Bloomberg Television earlier this week, Russia's First Deputy Prime Minister Igor Shuvalov said: "While Russian stocks may be undervalued, Russia is not seeking investors interested in quick and easy money."

"I would welcome real investors who can build factories, something new in this country."

http://news.bbc.co.uk/2/hi/business/10349679.stm

Now thats odd...I thought by taxing more (as libs suggested) that would spur the economy? Seems Russia in their effort to "modernisation" needs to people with money (the rich) to produce factories, which in turn produces jobs, which in turn creates paychecks, reduces unemployment, and adds money to the economy. What a novel idea!!!
:bang:
(bolding done by me)

[Robert Goren]

Less taxes, More money for the Russian to extort.

[newtothegame]

Less taxes, More money for the Russian to extort.

huh????
if they ALREADY have the money in the form of taxes...why would they give it back only to attempt to extort it as you suggest???? :bang:

[boxcar]

Hmmm in a world in which Russia has been one of the most controlled by government countries...they are now heading where????? :lol:

And trust me...no I am not moving to russia...too cold for me !!! lol

Russia to drop capital gains tax to attract investment

Russia will scrap capital gains tax on long-term direct investment from 2011, President Dmitry Medvedev has said.

Mr Medvedev said that in terms of improving Russia's investment climate "we, I hope, are moving forward".

He also said the number of "strategic" firms, in which foreign investment is restricted and which cannot be privatised, would fall from 280 to 41.

Mr Medvedev has been promoting the idea of "modernisation", including diversifying the Russian economy.

Also, many investors have been wary of coming to Russia because of corruption and the dominant role the state plays in Russia's business life.

Mr Medvedev told the St Petersburg International Economic Forum that long-term direct investment was "necessary for modernisation".

He also said that he would ask the government to create a special investment public-private fund.

"Such an idea should be implemented within a year," he said.

'Something new'
The Russian economy, heavily dependent on oil and gas revenues, was enjoying several years of robust growth in the middle of the 2000s.

However, it was hit hard by the global economic crisis, and in 2009 the economy shrank by 7.9%.

The economy is forecast to return to growth this year, expanding by about 4%. But Russia is also set to run a budget deficit for several years to come.

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.

In an interview with Bloomberg Television earlier this week, Russia's First Deputy Prime Minister Igor Shuvalov said: "While Russian stocks may be undervalued, Russia is not seeking investors interested in quick and easy money."

"I would welcome real investors who can build factories, something new in this country."

http://news.bbc.co.uk/2/hi/business/10349679.stm

Now thats odd...I thought by taxing more (as libs suggested) that would spur the economy? Seems Russia in their effort to "modernisation" needs to people with money (the rich) to produce factories, which in turn produces jobs, which in turn creates paychecks, reduces unemployment, and adds money to the economy. What a novel idea!!!
:bang:
(bolding done by me)

It appears the Ruskies don't subscribe to BO's "trickle up" nonsense either. They're looking for people WITH MONEY. They're not looking for "brown baggers", "blue collar workers", "9-5 while collar workers" -- in short, they're not looking for "working stiffs". So much for the trickle up theory. :rolleyes: Therefore, it appears the Ruskies are more enlightened than BO (but then...that ain't sayin' much 'cause an oil-soaked sponge in the gulf has more brains than BO).

Boxcar

[boxcar]

huh????
if they ALREADY have the money in the form of taxes...why would they give it back only to attempt to extort it as you suggest???? :bang:

:lol: :lol: :lol: Ahh...you noticed the berserk logic, too. I saw before I had even my first cup of java, but you beat me to response. :D

Boxcar
P.S. Goren, you're totally shot. Hang it up, already :rolleyes:

[newtothegame]

huh????
if they ALREADY have the money in the form of taxes...why would they give it back only to attempt to extort it as you suggest???? :bang:

Hey Sluethy...did hyou once work for the government....you do understand that you are FULLY qualified!!!! :lol:

[JustRalph]

I believe they also have a flat tax of 13%

[Robert Goren]

huh????
if they ALREADY have the money in the form of taxes...why would they give it back only to attempt to extort it as you suggest???? :bang::blush: Should have read. Less taxes, more money for the Russian mob to extort.;)

[newtothegame]

:blush: Should have read. Less taxes, more money for the Russian mob to extort.;)

Did you even read the story??? lol
It specifically mentions corruption and the "dominate role of government".
Now thats not to say that the "mob" won't have their hand in something...but, there is no greater mob in russia then the government...THATS THE POINT! And they are lessoning restrictions (taxes) to encourage businesses to come to Russia.
Why do you think that is?

[Robert Goren]

Did you even read the story??? lol
It specifically mentions corruption and the "dominate role of government".
Now thats not to say that the "mob" won't have their hand in something...but, there is no greater mob in russia then the government...THATS THE POINT! And they are lessoning restrictions (taxes) to encourage businesses to come to Russia.
Why do you think that is? The Russian mob has infuriated the the Russian government so much so that they are almost one and the same. The lowering of taxes to bring foreign businesses doesn't always work. Ireland is a prime example of that. There has to be a number of other factors in place. I think a business that moves into Russia because of lower taxes will regret it . There is very little law and order there. Terrorism is rampant. It is mob run third world country with nukes.

[newtothegame]

The Russian mob has infuriated the the Russian government so much so that they are almost one and the same. The lowering of taxes to bring foreign businesses doesn't always work. Ireland is a prime example of that. There has to be a number of other factors in place. I think a business that moves into Russia because of lower taxes will regret it . There is very little law and order there. Terrorism is rampant. It is mob run third world country with nukes.\

And I think you wayyyyyy underestimate Russia.
From my perspective, the story for me was about Russia leaning more towards capitalism to save their economy and the irony of us moving towards where they have been and are now moving away from.
I think it is good to study history as they say "history always repeats itself".

[Robert Goren]

\

And I think you wayyyyyy underestimate Russia.
From my perspective, the story for me was about Russia leaning more towards capitalism to save their economy and the irony of us moving towards where they have been and are now moving away from.
I think it is good to study history as they say "history always repeats itself". Well they do have a lot of easily acessable gas and oil. That doesn't hurt. But until they get a handle on the lawlessness, many businesses will stay away, no matter what the tax rates are.

[boxcar]

Well they do have a lot of easily acessable gas and oil. That doesn't hurt. But until they get a handle on the lawlessness, many businesses will stay away, no matter what the tax rates are.

Lawlessness? That's easy to solve. All BO has to do is ship his top law enforcement officer over there. Holder would turn things around in no time flat. :rolleyes:

Boxcar

[JustRalph]

Hey Goren, I don't know what the hell goes on in Nebraska , but organized crime controls a great deal of business etc in this country. Especially on the east coast.......I don't hear you screaming about it here.

[skate]

newto.

darn good post, woops, i mean damn good...

yes sir, not just the tax point but they are "really sayin something" yep.

Ronnie would turn in his grave and the earth would quake.