The Way of All Tax Cuts

Income tax in Russia brings in more propaganda than revenue; it represents only 7% of the government's income. In 1960 Nikita Khrushchev promised to abolish it altogether, in stages, over a five-year period. But last week, just a few days before workers with a monthly salary of 60 to 70 new rubles ($67 to $78) were to be ushered into the promised land, Izvestia announced that the third phase of the cut would be "postponed temporarily until further notice." Predictable villain: an "increase in the aggressive schemes of imperialism."

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