111 K Street NE
Washington, DC 20002
- Toll Free 1.888.564.6273
- Local 202.783.3870
From DALLAS MORNING NEWS
This year Americans will pay accountants and attorneys $140
billion to do their taxes and help them navigate the 46,000-page
U.S. Tax Code. Too bad, observers say, this isn't Russia.
The majority of Russian taxpayers don't need to file forms. The 13 percent rate has exceeded expectations in terms of revenue, as real ruble revenue increased 28 percent
The new system has also greatly reduced the underground economy, where people were paid in goods rather than cash to facilitate tax evasion.
In other pro-market moves, President Vladimir Putin has signed legislation to cut the corporate tax rate from 35 to 24 percent. The Kremlin may also offer Russians privately invested social ecurity accounts, much as President Bush wants for Americans.
As one observer has noted, V.I. Lenin, analyzing all this from his dacha in hell, must be stroking his beard in utter bewilderment.
Source: Deroy Murdock, "Even Russia Realized the Wisdom of a Flat
Tax," Dallas Morning News, March 4, 2002.