Russian strongman Vladamir Putin thinks Barack Obama’s plan to raise taxes on American business is nuts. Just plain nuts.
Yes, you read that correctly. The power behind the Russian throne understands capitalism better than the President of the United States.
Here’s how the Moscow Times reports it:
Prime Minister Vladimir Putin on Monday criticized U.S. President Barack Obama’s plan to raise taxes on U.S. companies’ foreign operations, saying it would amount to double taxation that will hurt the global economy.
“This is a serious decision for the world economy,” Putin said at a meeting of the Presidium, the government said on its web site. “If taxes are imposed on all companies working abroad, then it will mean the total destruction of the system for avoiding double taxation.”
This should come as no surprise. Communists never understand economics as well as former communists.
