Putin responds to Coronavirus and the need to guarantee Russia’s socialized medical system, by going after Russians hiding money abroad – especially those pesky Yeltsin era oligarch parasites living it up big in London. These wealthy Russians abroad have tried to hide money to avoid taxes in the City of London. This is money all stolen when public assets were converted into private wealth when the USSR was destroyed, ushering in the Yeltsin era. It appears that recently Russia transferred an amount of gold to the City of London, ostensibly a private holding. We might deduce that in exchange, these otherwise opaque banking institutions allowed Russian tax collectors to peak into the lists and see which Russian oligarchs have what and how. – J. Flores
P.S ‘liberal’ Russiagater DNC bots – Russia is a social democracy.
P.P.S ‘conservative’ Russia lovers – keep loving Christian Russia but learn more about everything that makes it great – 😉
After the Great Depression, the Revenue Act of 1934 [in the US – ed] raised income taxes on the wealthy, while reducing them for lower income groups. It also raised estate taxes on the wealthy and closed corporate tax loopholes. The Revenue Act, also called the “Wealth Tax Act,” eventually raised taxes to 75 percent on incomes over $500,000. Can Russia avoid a recession by targetting the many millions of dollars currently being transported tax free into offshore accounts? – Inessa S