I must be confused. First, the French lecture us about toughness in foreign affairs. Then the Germans make us look like spendthrifts. Now even the Russians understand better than we how low taxes create prosperity:
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”. … 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.
Meanwhile, our tax environment is set up to do everything it can to drive businesses out of the country, and many states such as California make it worse.
Who are we again?
Via Dan Mitchell, who explains why there should be no cap-gains tax:
RELATED: German Chancellor Merkel say her government and the EU will end stimulus programs and focus on debt. The world really has turned upside down.