RUSSIA NOW HAS A FLAT TAX AND THEIR ECONOMY IS TAKING OFF. Read Deroy Murdock’s take on Russia & flat tax in National Review Online’s Financial section. Murdock writes:
Since January 1, 2001, Russians have enjoyed a 13 percent flat tax. That’s right. The once-Communist superpower now stands to the right of publisher Steve Forbes on taxes. The former GOP presidential contender staunchly advocates a 17 percent flat tax.Unlike their 20th century abortion known as communism, this is a Russian economic system that makes perfect sense. If their economy continues to grow at its current five percent, and their tax revenues grow, just as the Laffer curve says they should, expect other nations to follow.
“Sometimes philosophical seeds fall on interesting ground,” Forbes says. “After Marxism, which was the philosophical equivalent of the IRS code, something understandable has obvious appeal.”
Now if only the US would get the message…