Tax hikes to give Russia fiscal headroom to further increase spending

Reuters ^ | 5/30/2024 | Darya Korsunskaya and Alexander Marrow

[marcusmaximus]

Russia's proposed tax hikes for companies and the wealthy, which may add an extra $30 billion to next year's budget revenues, will allow Moscow to further ratchet up spending, including on its war in Ukraine, without compromising fiscal stability.

The finance ministry insists the tax hikes, proposed on Tuesday, are fair and target Russia's wealthiest. It says tax changes should solve national problems, reduce inequality and help develop Russia's regions.

The changes will cover President Vladimir Putin's more than 11.5 trillion roubles ($128 billion) in infrastructure and social spending pledges for his new six-year term, analysts say, without requiring a reworking of Russia's budget rule.

[higgmeister]

Yep!

[FlyingEagle]

Uh Steiner ..... Steiner never attacked. Vid of green t-shirt dude all dressed up here.

https://www.youtube.com/watch?v=xBWmkwaTQ0k

[Candor7]

US retaliatory nuclear strike from loitering nuclear submarines on Moscow:

130 seconds

[aMorePerfectUnion]

Same both ways.