The issues of improving the financial literacy of the population are currently receiving a lot of attention both at the international and national levels. Of particular relevance are financial literacy issues for the Russian Federation. Due to the peculiarities of the country's historical development, for most citizens of Russia, issues of personal financial planning, the principles of the functioning of financial markets, the possibility of investing savings remain obscure, as a result of this, the population can not fully use modern financial products and services, does not know their rights in the financial market and unable to protect them in accordance with the law. It should be noted that the problem of a low level of financial literacy of citizens is a problem at the national level, since a low level of financial literacy negatively affects the personal well-being of citizens, their financial potential, and accordingly prevents the development of the financial market, inhibiting investment processes in the economy. Under these conditions, increased interest in issues of financial education and financial literacy of citizens of the Russian Federation is logical and, since 2011, the World Bank and the Ministry of Finance of the Russian Federation have actively implemented a project “Promoting Improving the Level of Financial Literacy of the Population and Development of Financial Education in the Russian Federation”. One of the most important areas of the project is to increase the financial literacy of children and youth. Since the start of the project, a range of training materials has been developed in this area, professional development of school teachers, teachers of orphanages, college teachers is provided, and weeks of financial literacy are held. The result of the events was a significant increase in the level of financial literacy of Russian schoolchildren. In this regard, the experience of the Russian Federation in improving financial literacy of children and youth is of great interest.
Many countries use income taxation as one of the essential tools of income redistribution. This paper covers positive and negative effect of the proportional scale of individual taxation introduced by the Russian Federation. The observation suggests that the flat rate increases the social inequality, which, in turn, reflects adversely on the economic growth of the country. The document describes the contribution of the income tax to the budget revenues of the developed countries and provides the data of foreign practice to apply income tax rates. The authors demonstrate the need for the progressive taxation and establishment of a tax-free allowance.
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