Russian initiates an opulence tax
The folks in Russia aren’t too unfamiliar with luxury. Yet, the commercial luxury market isn’t booming either. So the last thing this sector needed was someone at a position high up there playing Robin Hood. Unfortunately for them, 2013 will see the introduction of a ‘luxury tax’. This will cover high-end automobiles, lavish housing, luxury products (most probably) and a everything that stinks of splurge-worthy currency. The President of the country, Vladimir Putin himself initiated this idea into action. Taxing the rich is a good way to help make a balance but who says that everyone who lusts for luxury is rich? This could well mean a common man’s once-in-a-lifetime luxurious trip could be taxed. May be there is a threshold drawn in the minds of those who formulate this law. I hope it doesn’t infect the lords of the States.