Russia goes supply-side

Financial Times reports on Russian President Dmitry Medvedev's plans to lower taxes and rein in government in order to spur investment:

Mr Medvedev laid out a series of new initiatives that aim to boost its attractiveness as an investment destination. “Russia needs a real investment boom”, in order to achieve its modernisation goals, he said. To stimulate that, Mr Medvedev announced Moscow would introduce zero taxation on capital gains for companies working on long-term investments starting from January next year and said Russia was improving the legal system to provide better protection for businesses against the long arm of bureaucracy.

Meanwhile, in the US, Pres. Obama is still going in the other direction.

PREVIOUSLY on the subject of Obamanomics and how it differs from economics:
• Study: Liberals are economically illiterate
•Obama modeling US economy after Europe's
•Irresponsibility pays!
• Obamanomics prolonging the recession
•US Aaa bond rating threatened by Obama's budget says Moody's
•Obamanomics illustrated II
•How Dems are prolonging the recession
•How Obamanomics destroys jobs
•Obamanomics illustrated
•Deficits: Obama goes where no man has gone before (illustration)
•How to raise the standard of living
•Obama's anti-intellectual economic theory
•Obamanomics and the test of science
•Obamacare may raise insurance costs by 54%
•Harvard economist explains why Obamacare will raise premiums
•HHS says Obamacare will cause costs to go up and cause employers to drop coverage