Posted on 07/01/2010 5:10:28 AM PDT by keep your powder dry
Russia will abolish taxes on capital gains from long-term direct investments starting next year, seeking to lure funds to reduce the economy’s energy dependence and subdue speculative capital, President Dmitry Medvedev said.
“Such investments are critically important for modernizing the national economy and we are ready to create institutions to facilitate such investments,” Medvedev said at the St. Petersburg International Economic Forum today. His government will create an investment fund within a year to help draw “strategic investors” by raising 3 rubles of private capital for each 1 ruble of state money, the president said.
The world’s largest energy exporter is recovering from a record economic contraction last year and seeking to wean itself off its commodity reliance to limit swings in growth and ruble volatility. Its dependence on energy, which accounts for about a quarter of output, is “primitive” and “humiliating,” Medvedev said last year.
Russia is aiming to make long-term holdings more attractive for investors. The government may consider restrictions on capital flows that would penalize investors with horizons shorter than three years.
(Excerpt) Read more at businessweek.com ...
I’m not saying a damn thing.
Funny how Russia is adopting more and more of our old policies and we’re adopting more and more of THEIR old disastrous policies. TAKE BACK OUR COUNTRY NOV. 2010!!!
For those of you that were in the era of doing school drills in case the Russians attacked - did you ever think they would try to become more like us as we transitioned into more like them....
No
No
Russia just poked another stick in Ayatollah Obama’s eye...too funny! Medvedev just made him look like a TOTAL TWIT!
Duck.......and cover.
After you get under your desks, don’t look at the windows, your eyeballs might melt.
Everyone down into the basement of the school. This is just a drill.
Etc., etc., etc.
LOL
I’ve been watching them do exactly that for decades. It was a common saying that eventually Russia would be free and we would be them.............
LOLOLOL..........see what one hellburger can do!!!!
We need more Russian spies so they can convert us to capitalism.
Apparently Obama learned nothing from his meeting with Medvedev.
Ironic.
Russia gets it, but Obunghole and the Rats can’t figure it out.
Fortunately, our Justice Department, under the brave and capable leadership of Comrade Holder, was able to identify and dismantle the network of Capitalist agents of influence from Russia attempting to infiltrate Fearless Leader’s regime before such sinister and corrupting financial changes could be implemented here! Tax cuts are but another way of exploiting the working family! Hail to our Democrat protectors!
Glory to our great Motherland, mighty and free,
Bulwark of people, in brotherhood strong!
For all of you one track mind people, Russian has one of the worst compliance rates in the world. Why have it when no one is paying it????
“Russia’s president spent several days in Silicon Valley recently looking for adventurous investors and came away with a $1B commitment from Cisco Systems. For Cisco, sitting on a cash hoard of $30B, with years of experience partnering with the burgeoning Russian venture capital industry, the decision was probably not a very tortured one. And what a perfect opportunity for Cisco’s CEO John Chambers to keep his cash as far from Obama’s collection agencies as possible.”
that’s why.
It’s been about twenty years since the fall of the Soviet Union. China embarked on its capitalist path in 1979. Since that time, China has rivaled the U.S. in economic output. Where is Russia in this equation? It’s a huge supplier of natural resources, but how is the Russian manufacturing industry doing? Is the Russian middle class growing? There’s been very little news about Russia’s transformation from a commie economy to a supposedly capitalist one.
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