Russia To Drop Capital Gains Tax

Russia is looking ever better as a place to live and work.  By dropping the capital gains tax and people can keep more of their money, some businesses that would not have survived with the capital gains tax are now viable.  More employment, more people paying other taxes.

Mish Shedlock points out that in USA businesses can leave profits overseas and avoid USA taxes, so of course they do.  If a company has 50% of its profits overseas, untaxed, and is competing with a similar usa company that has 100% of its biz in USA, then the 100% USA biz cannot compete against the company that is partially overseas, because of USA tax policy.  USA policy in many ways forces usa companies to outsource.

Senator Reid says paying taxes in USA is voluntary.  Don't cheat or refuse, you are obliged to at least work the loopholes.  Which of course has you going hat in hand to politicians to get loopholes to stay in business.  You business no longer depends on customers, it depends on political connections, like the old soviet union.

I would not be surprised to learn, I'd bet on it, that it is impossible to pay all taxes in USA and survive in business.  Of the businesses that do operate, some work loopholes, some cheat.  I'd bet nobody operating pays all taxes liable.

Pope John Paul II lived through both Nazi and communist occupation of Poland, so he had a front row seat.  He was a central player in the post-communist world. He has a lot to say about evil and overlordism.  In his book he talks about the contours of evil, the boundaries of how far evil influence can move before it comes up against overwhelming good, how it ebbs and flows.

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