With increasing surprise, I follow the Ukrainian discussion about public finances. Strangely, some prominent Ukrainians seem to think that taxes and public expenditures have no relationship to one another, arguing that public expenditures should be increased and taxes should be cut. But that is called populism, the disease Ukraine has suffered from since its independence in 1991, and which has caused Ukraine’s steady economic decline.It is time to abandon this “infantile disorder,” as Vladimir Lenin called left-wing communism. Public revenues and spending need to be more or less balanced, especially when a country lacks financing. At present, Ukraine’s public debt …read more
Source: Atlantic Council