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To: D.Austin who wrote (105)10/23/2002 10:28:53 AM
From: maceng2  Respond to of 1417
 
The first major reform by the Putin administration is a wide-scale experiment with the Laffer curve. Russian income tax rates have been set at a flat 13%, while corporate taxes have been simplified and slashed. As a result, Russia moved from a chronic budget deficit to a 4.5% primary surplus, and indeed, a 1.4% gross budget surplus (i.e. after debt service).

Surely Putin gets a gold star in his classwork book for this good effort?


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